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Restaurant Business Plan Template

Written by Dave Lavinsky

Restaurant Business Plan

You’ve come to the right place to create your restaurant business plan.

We have helped over 100,000 entrepreneurs and business owners with how to write a restaurant business plan to help them start or grow their restaurants.

Below is a restaurant business plan template to help you create each section of your business plan.

Restaurant Business Plan Example

Executive summary, business overview.

Bluehorn Restaurant & Steakhouse is a new restaurant and steakhouse located in Oklahoma City, Oklahoma. The menu of Bluehorn Restaurant & Steakhouse will include bistro-type dishes that are authentically created and crafted by acclaimed Chef Peter Logan. It will be located in the trendy part of town, known as the Plaza District. The restaurant will be surrounded by classy art galleries, live theater, high-end restaurants and bars, and expensive shopping.

Owned by emerging restaurant operators Chef Peter Logan and Anastasia Gillette, Bluehorn Restaurant & Steakhouse’s mission is to become Oklahoma City’s best, new restaurant for patrons to celebrate their next big event, have a nice date night, or gather with friends or family for a fun evening while dining over finely crafted entrees, desserts, and cocktails.

Products Served

The following are the menu items to be offered by Bluehorn Restaurant & Steakhouse:

• Soups & Salads
• Gourmet sides
• Wine, Beer & Spirits

Customer Focus

Bluehorn Restaurant & Steakhouse will target adult men and women between the ages of 21 – 65 with disposable income in Oklahoma City, Oklahoma. Within this demographic are millennials, young professionals, newlyweds, young families, more established families, and retirees. Because of the pricing structure of the menu, the patrons will likely be upper middle class to the wealthy population of Oklahoma City.

Management Team

Bluehorn Restaurant & Steakhouse is owned and operated by fellow Oklahoma City natives and culinary enthusiasts, Chef Peter Logan and Anastasia Gillette. Both come with a unique skill set and complement each other perfectly. They formerly worked together at another OKC fine dining establishment and made a great team for serving guests delectable food and wine while ensuring the highest level of customer service.

Chef Peter will manage the kitchen operations of Bluehorn Restaurant & Steakhouse, while Anastasia will oversee front of the house operations, maintain and ensure customer service, and manage all reservations.

Financial Highlights

Bluehorn Restaurant & Steakhouse is seeking $300,000 in debt financing to open its start-up restaurant. The funding will be dedicated for the build-out and design of the restaurant, kitchen, bar and lounge, as well as cooking supplies and equipment, working capital, three months worth of payroll expenses and opening inventory. The breakout of the funding is below:

• Restaurant Build-Out and Design – $100,000
• Kitchen supplies and equipment – $100,000
• Opening inventory – $25,000
• Working capital (to include 3 months of overhead expenses) – $25,000
• Marketing (advertising agency) – $25,000
• Accounting firm (3 months worth and establishment/permitting of business) – $25,000

Company Overview

Bluehorn Restaurant & Steakhouse is a new restaurant and steakhouse located in Oklahoma City, Oklahoma. Bluehorn Restaurant & Steakhouse will serve a wide variety of dishes and beverages and will cater to the upper middle class to wealthier population of Oklahoma City. The menu of Bluehorn Restaurant & Steakhouse will include bistro-type dishes that are authentically created and crafted by acclaimed Chef Peter Logan. It will be located in the trendy part of town, known as the Plaza District. The Plaza District is one of Oklahoma’s trendy neighborhoods and is considered the “it” area for newlyweds, millennials, professionals, and young singles. The restaurant will be surrounded by classy art galleries, live theater, high-end restaurants and bars, and expensive shopping.

Owned by emerging restaurant operators Chef Peter Logan and Anastasia Gillette, the restaurant’s mission statement is to become the best new steak restaurant in OKC. The following are the types of menu items Bluehorn Restaurant & Steakhouse will serve- shareables, steaks, soups, gourmet sides and salads.

Bluehorn Restaurant & Steakhouse History

Bluehorn Restaurant & Steakhouse is owned by two Oklahoma City natives, Chef Peter Logan and Anastasia Gillette. They have both worked around the country in fine dining establishments and have a combined twenty years in the restaurant industry. Upon working alongside each other at another fine dining establishment in Oklahoma City, the two of them became good friends and decided to venture into owning their own restaurant.

Chef Peter is the kitchen guru and critically acclaimed chef, while Anastasia manages the front of the house and is a certified Sommelier. Together, with both of their expertise and knowledge, Bluehorn Restaurant & Steakhouse is destined to become Oklahoma City’s next big restaurant.

Industry Analysis

The Restaurant industry is expected to grow to over $220 billion in the next five years.

Consumer spending is projected to grow. The Consumer Confidence Index, a leading indicator of spending patterns, is expected to also grow strongly, which will boost restaurant industry growth over the next five years. The growth in consumer confidence also suggests that more consumers may opt to segment their disposable income to eating outside the home.

Additionally, an increase in the number of households earning more than $100,000 annually further contributes to the industry growth, supporting industry operators that offer more niche, higher-end products.  This group is expected to continue to grow in size over the next five years.

The urban population represents a large market for the industry. Specifically, time-strapped individuals living in urban areas will likely frequent industry establishments to save time on cooking. The urban population is expected to increase, representing a potential opportunity for the industry.

Customer Analysis

Demographic profile of target market, customer segmentation.

Bluehorn Restaurant & Steakhouse will primarily target the following customer profile:

• Upper middle class to wealthier population
• Millennials
• Young professionals
• Households with an average income of at least $75k
• Foodies and culture enthusiasts

Competitive Analysis

Direct and indirect competitors.

Bluehorn Restaurant & Steakhouse will be competing with other restaurants in Oklahoma City. A profile of each competitor is below. The Press Located in the trendy area known as the Plaza District, The Press has reimagined our favorite foods of the surrounding regions through the lens of home.

The menu consists of appetizers, soups, burgers and sandwiches, bowls, main dishes, sides, desserts, and a large selection of alcoholic beverages. The Press serves craft beer, domestic beer, wine spritzers, house cocktails, wine, and mimosas. They also offer brunch. The menu of The Press is affordable with the most expensive dish being $16. The wine menu is also not pretentious as the wine is sold either by the glass or bottle, with the most expensive bottle being $52 for the Gruet Sparkling Brut Rose. Oak & Ore Oak & Ore is a craft beer and restaurant in OKC’s Plaza District. They have a 36-tap beer selection and offer vegetarian, vegan, and gluten free dining options. Oak & Ore offers a rotating, 36-tap selection of their favorite brews from Oklahoma and around the world. Each beer is thoughtfully paired with a craft beer-inspired dining experience.

The food menu of Oak & Ore offers starters, salads, wings, fried chicken, sandwiches, tacos, banh mi, and sides. They also have a selection of kids dishes so the whole family can enjoy comfort food while sampling one of their delectable beers.

The Mule OKC The Mule is a casual, hip restaurant offering a large beer and cocktail menu plus sandwiches and more. Located in the constantly growing and buzzing hub that is the Plaza District, The Mule takes the timeless favorite and contorts it into a whole menu of wild offerings.

There is also a fantastic assortment of soups offered and The Mule shakes up a seasonal list of cocktails designed by their bar staff. During the winter months, patrons can stave off the cold with their versions of hot toddies and buttered rum. For the beer drinkers, they always have a reliable line-up of fresh cold brews on draft, as well as a wide selection of can.

Competitive Advantage

Bluehorn Restaurant & Steakhouse offers several advantages over its competition. Those advantages are:

• Gourmet dishes elegantly prepared to the finest standard.
• Selection of steaks sourced from local Oklahoma farms.
• An exclusive and unique wine menu that includes a wine selection of all price points.
• Highly sought after location: Bluehorn Restaurant & Steakhouse will be located in the trendy and attractive neighborhood known as The Plaza District.
• Trendy, welcoming, and energetic ambiance that will be perfect for a night out or a celebration.

Marketing Plan

Promotions strategy.

The marketing strategy for Bluehorn Restaurant & Steakhouse is as follows: Location Bluehorn Restaurant & Steakhouse’s location is a promotions strategy in itself. The Plaza District is a destination spot for locals, tourists, and anyone looking for the trendiest food fare in Oklahoma City. The Plaza District is home to OKC’s most popular bars and restaurants, art galleries, theaters, and boutique shopping. The millennials, young professionals, and foodies will frequent Bluehorn Restaurant & Steakhouse for the location itself.

Social Media Bluehorn Restaurant & Steakhouse will use social media to cater to the millennials and Oklahoma City residents. Chef Peter and Anastasia plan to hire an advertising agency to take professional photographs of the menu items and location to create appealing posts to reach a greater audience. The posts will include pictures of the menu items, as well as upcoming featured options. SEO Website Marketing Bluehorn Restaurant & Steakhouse plans to invest funds into maintaining a strong SEO presence on search engines like Google and Bing. When a person types in “local fine dining restaurant” or “Oklahoma City restaurant”, Bluehorn Restaurant & Steakhouse will appear in the top three choices. The website will include the full menu, location, hours, and lots of pictures of the food, drinks, and steaks. Third Party Delivery Sites Bluehorn Restaurant & Steakhouse will maintain a presence on sites like GrubHub, Uber Eats, Doordash, and Postmates so that people looking for local food to be delivered will see Bluehorn Restaurant & Steakhouse listed near the top.

Operations Plan

Operation functions:.

The company will hire the following:

• 4 sous chefs
• 2 bartenders
• 2 hostesses
• The company will hire an advertising agency and an accounting firm

Milestones:

Bluehorn Restaurant & Steakhouse aims to open in the next 6 months. The following are the milestones needed in order to obtain this goal.

7/1/202X – Execute lease for prime location in the Plaza District.

7/2/202X – Begin construction of restaurant build-out.

7/10/202X – Finalize menu.

7/17/202X – Hire advertising company to begin developing marketing efforts.

8/15/202X – Start of marketing campaign

8/22/202X – Final walk-thru of completed restaurant build-out.

8/25/202X – Hire team of sous chefs, servers, and bussers.

9/1/202X – Decoration and set up of restaurant.

9/15/202X – Grand Opening of Bluehorn Restaurant & Steakhouse

Bluehorn Restaurant & Steakhouse will be owned and operated by Chef Peter Logan and Anastasia Gillette. Each will have a 50% ownership stake in the restaurant.

Chef Peter Logan, Co-Owner

Chef Peter Logan is an Oklahoma City native and has been in the restaurant industry for over ten years. He was trained in a prestigious Le Cordon Bleu Culinary Academy in San Francisco and has worked in some of the nation’s most prestigious fine dining restaurants. His tenure has took him from the west coast to the east coast, and now he’s back doing what he loves in his hometown of Oklahoma City.

Chef Peter will manage the kitchen operations of Bluehorn Restaurant & Steakhouse. He will train and oversee the sous chefs, manage inventory, place food inventory orders, deal with the local food vendors, and ensure the highest customer satisfaction with the food.

Anastasia Gillette, Co-Owner

Anastasia Gillette was born and raised in Oklahoma City and has garnered over ten years in the restaurant industry as well. While in college, Anastasia worked as a hostess at one of the area’s most prestigious restaurant establishments. While there, she was eventually promoted to Front of the House Manager where she oversaw the hostesses, servers, bussers, bartenders, and reservations. Her passion always led to the beverage portion of the restaurant so she obtained her Sommelier certificate in 2019. With her wine education, Anastasia is able to cultivate an interesting and elegant wine selection for the restaurant.

Anastasia will oversee front of the house operations, maintain and ensure customer service, and manage all reservations. She will also be in charge of the bar and wine ordering, training of front of the house staff, and will manage the restaurant’s social media accounts once they are set up.

Financial Plan

Key revenue & costs.

The revenue drivers for Bluehorn Restaurant & Steakhouse will come from the food and drink menu items being offered daily.

The cost drivers will be the ingredients and products needed to make the menu items as well as the cooking materials. A significant cost driver is the fine dining equipment, serving dishes, and beer and wine glasses. Other cost drivers will be the overhead expenses of payroll for the employees, accounting firm, and cost of the advertising agency.

Funding Requirements and Use of Funds

Bluehorn Restaurant & Steakhouse is seeking $300,000 in debt financing to open its start-up restaurant. The breakout of the funding is below:

Financial Projections

Income Statement

  Balance Sheet

  Cash Flow Statement

Restaurant Business Plan FAQs

What is a restaurant business plan.

A restaurant business plan is a plan to start and/or grow your restaurant business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your restaurant business plan using our Restaurant Business Plan Template here .

What Are the Main Types of Restaurants?

There are many types of restaurant businesses. Restaurants can range in type from fast food, fast casual, moderate casual, fine dining, and bar and restaurant types. Restaurants also come in a variety of different ethnic or themed categories, such as Mexican restaurants, Asian restaurants, American, etc.  Some restaurants also go mobile and have food trucks.

How Do You Get Funding for Your Restaurant Business Plan?

Restaurant businesses are most likely to receive funding from banks. Typically you will find a local bank and present your business plan to them. Another option for a restaurant business is to obtain a small business loan. SBA loans are a popular option as they offer longer loan terms with lower interest rates.

What are the Steps To Start a Restaurant Business?

1. Develop A Restaurant Business Plan - The first step in starting a business is to create a detailed restaurant business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your restaurant business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your restaurant business is in compliance with local laws.

3. Register Your Restaurant Business - Once you have chosen a legal structure, the next step is to register your restaurant business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your restaurant business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Restaurant Equipment & Supplies - In order to start your restaurant business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your restaurant business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful restaurant business:

• How to Start a Restaurant Business

Where Can I Get a Restaurant Business Plan PDF?

You can download our free restaurant business plan template PDF here . This is a sample restaurant business plan template you can use in PDF format.

Free Business Plan Templates in Excel

By Joe Weller | September 27, 2020

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In this article, we’ve rounded up an extensive list of free business plan templates and samples for organizations of all sizes. You can download all of the plans in Excel. 

Included on this page, you’ll find business plan templates in Excel , business plan checklists in Excel , business plan financial templates in Excel , and more.

Business Plan Templates in Excel

These Excel business plan templates are designed to guide you through each step of a well-rounded strategy that supports your marketing, sales, financial, and operational goals.

Business Plan Template in Excel

This Excel business plan template has all the traditional components of a standard business plan, with each section divided into tabs. This template includes space to provide the executive summary, target audience characteristics, product or service offering details, marketing strategies, and more. The plan also offers built-in formulas to complete calculations for sales forecasting, financial statements, and key business ratios.

Download Business Plan Template

Excel | Smartsheet

One-Page Business Plan in Excel

To check the feasibility of your business concept, use this single-page business plan template. The template allows you to jot down the core details related to your idea. This template also includes room for you to provide concise information about what you do, how you do it, why you do it, who your idea serves, your competitive advantage, your marketing strategies, and your success factors. At the bottom of this one-page plan, you’ll find a table to conduct a SWOT (strengths, weaknesses, opportunities, and threats) analysis. Find more downloadable single-page plans and examples at “ One-Page Business Plan Templates with a Quick How-To Guide .”

Download One-Page Business Plan

Excel | Word | PDF | Smartsheet

Sample 30-60-90-Day Business Plan for Startup in Excel

This 90-day business plan is designed for startup companies to develop a 90-day action plan. This template gives you room to outline the following: main goals and deliverables for each 30-day increment; key business activities; task ownership; and deadlines. This template also includes a built-in Gantt chart that adjusts as you enter dates. Visit “ 30-60-90-Day Business Plan Templates and Samples ” to download more free plans.

Download 30-60-90-Day Business Plan for Startup

For more free business plans in a wider variety of formats, visit “ Simple Business Plan Templates .”

Business Plan Checklists in Excel

These business plan checklists are useful for freelancers, entrepreneurs, and business owners who want to organize and track the progress of key business activities.

Business Planning Checklist with Timeline in Excel

Use this checklist to keep your business planning efforts on track. This template enables you to add tasks according to each phase of your plan, assign an owner to each task, and enter the respective start and end dates. The checklist also enables you to create and color-code a visual timeline when you highlight the start and end dates for each task.

Download Business Planning Checklist with Timeline Template

Business Plan Checklist with SWOT Analysis in Excel

Use this business plan checklist to develop and organize your strategic plan. Add the name of the business activity, along with its status, due date, and pertinent notes. This template also includes a separate tab with a SWOT analysis matrix, so you can evaluate and prioritize your company’s strengths, weaknesses, opportunities, and threats.

Download Business Plan Checklist with SWOT Analysis - Excel

Business Startup Checklist in Excel

This checklist template is ideal for startup organizations. It allows you to list and categorize key tasks that you need to complete, including items related to research, strategic relationships, finance, development, and more. Check off each task upon completion to ensure you haven’t missed or overlooked any important business activities. Find additional resources by visiting “ Free Startup Plan, Budget & Cost Templates .”

‌Download Business Startup Checklist Template

Business Plan Financial Templates in Excel

Use these customizable templates to develop your organization’s financial plan.

Business Startup Costs Template in Excel

Use this template to estimate and track your startup and operational costs. This template gives you room to list line items for both funding and expenses; you can automatically calculate totals using the built-in formulas. To avoid overspending, compare budgeted amounts against actual amounts to determine where you can cut costs or find additional funding.

Download Business Startup Costs Template

Small-Business Budget Template in Excel

This simple business budget template is designed with small businesses in mind. The template helps you track the income and expenses that you accrue on a monthly and yearly basis. To log your cash balances and transactions for a given time frame, use the tab for cash flow recording.

Download Small-Business Budget Template - Excel

Startup Financial Statement Projections Template

This financial statement projections template includes a detailed profit and loss statement (or income statement), a balance sheet with business ratios, and a cash flow statement to analyze your company’s current and future financial position. This template also comes with built-in formulas, so you can calculate totals as you enter values and customize your statement to fit the needs of your business.

‌ Download Startup Financial Statement Projections Template

For additional templates to help you produce a sound financial plan, visit “ Free Financial Templates for a Business Plan .”

Business Plan Marketing and Sales Templates in Excel

Use these downloadable templates to support and reinforce the marketing and sales objectives in your business plan.

Sales Forecast Template in Excel

This sales forecast template allows you to view the projected sales of your products or services at both individual and combined levels over a 12-month period. You can organize this template by department, product group, customer type, and other helpful categories. The template has built-in formulas to calculate monthly and yearly sales totals. For additional resources to project sales, visit “ Free Sales Forecasting Templates .”

Download Sales Forecast Template

Marketing Budget Plan in Excel

This marketing budget plan template helps you organize and plan your campaign costs for key marketing activities, such as market research, advertising, content marketing , and public relations. Enter the projected quantity and cost under each campaign category; the built-in formulas enable you to calculate projected subtotals automatically. This template also includes a graph that auto-populates as you enter values, so you can see where your marketing dollars are going.

Download Marketing Budget Plan Template

Other Business Plans in Excel

Use these business plan templates to conduct analyses and develop a plan of action that aligns your strategy with your main business objectives.

Business Action Plan Template in Excel

Use this basic action plan template to develop a roadmap for reaching your goals. Add a description of each action item, assign the responsible party, and list the required resources, potential hazards, key dates, and desired outcome. You can use this template to develop an action plan for marketing, sales, program development, and more. 

Download Business Action Plan Template

Business Plan Rubric in Excel

Once you complete your business plan, use this rubric template to score each section to ensure you include all the essential information. You can customize this rubric to fit the needs of your organization and provide insight into the areas of your plan where you want to delve more deeply or remove unnecessary details. By following these steps, you can make certain that your final business plan is clear, concise, and thorough.

Download Simple Business Plan Rubric

Competitive Analysis Template in Excel

This template enables you to analyze the competitive landscape and industry for your business. By providing details related to your company and competitors, you can assess and compare all key areas, including the target market, marketing strategies, product or service offerings, distribution channels, and more.

Download Competitive Analysis Template

Excel  | Smartsheet

For additional free templates for all aspects of your business, visit “ Free Business Templates for Organizations of All Sizes .”

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Italian Restaurant Business Plan Template

Trusted by 800+ Downloaders

What You Get

• A compelling & detailed pre-written Italian Restaurant business plan template in WORD
• A full-fledged Italian Restaurant financial plan model in EXCEL that you can easily customize
• Customized text tailored to the Italian Restaurant business
• The ability to paste advanced charts and tables within a click
• No accounting or specialized financial knowledge needed
• A truly cost-effective solution saving you time & money

Italian Restaurant Business Plan Template Description

Our ready-made Italian Restaurant business plan package is all you need to cost-effectively plan, execute, fund and launch your upcoming Italian Restaurant concept. It comes with a detailed pre-written business plan in Word and a fully customizable financial plan in Excel tailored to the Italian Restaurant business. Spend only a couple of hours customizing these professionally pre-written documents to make them perfectly fit your own project. For the full content description of your ready-made Italian Restaurant business plan package, check below.

Italian Restaurant Business Plan Document in Word

Our ready-made Italian Restaurant business plan template is in Word format and includes 22 pages. The document is divided into multiple sections. Each section contains the essential points that are necessary to effectively present your Italian Restaurant project. Each section and sub-section offers you a sample text that you can easily customize to make your business plan unique. Below is a short excerpt of your Italian Restaurant business plan document in Word.

Automatic Italian Restaurant Financial Plan in Excel

Our pre-populated Italian Restaurant financial model is in Excel format and includes multiples worksheets. You can easily edit the model’s inputs including changing costs and revenue assumptions to generate pro-forma financial forecasts including P&L, Cash flows and Balance Sheets. Below is a short extract of your automatic Italian Restaurant financial plan in Excel.

This Ready-Made Italian Restaurant Business Plan is For

• Entrepreneurs wishing to start an Italian Restaurant business
• Aspiring Italian Restaurant owners who want to create a business plan fast and easy
• Restaurant entrepreneurs who wish to pitch their project to investors
• F&B professionals who wish to better understand the potential of the opportunity

Immediate Delivery by Email

• Once you complete the order, you will receive an email with links to download your documents
• Your order will contain the full pre-written business plan in Word
• Your order will contain the full customizable financial model in Excel

Your Italian Restaurant Business Plan Content

Executive Summary: Our Italian Restaurant business plan template starts with a compelling Executive Summary. This key section is very important as it summarizes in 1 page your F&B business opportunity. It will introduce your business model, the key people behind the project as well as the unique selling proposition offered by your Italian Restaurant venture. This section will also mention how market conditions and consumer trends are favorable for launching your project.

The Problem Opportunity: Next, your ready-made Italian Restaurant business plan will list a number of problems experienced by your prospects in your target market and will show how this presents a unique opportunity for your Restaurant business. These can include issues such as lack of Italian restaurants in a certain location, low or average cuisine quality offered by existing players, undifferentiated offering by current actors in the market…etc.

The Solution: This section explains how your Italian Restaurant will take advantage of the current problems in the market and will detail your innovative solutions.

Mission & Vision: Your mission will explain in a couple of sentences your Italian Restaurant’s business ethos. In other words, it will summarize your unique value proposition and will explain how you are different than the competition. Your vision will explain the long-term plans for your Restaurant concept. Are you planning to start with one branch today and expand to a multi-branch business model? Are you looking to transform your Italina Restaurant business into a franchise model?…etc.

Business Model:  This section details your Italian Restaurant concept using the business model canvas method. In a visually appealing table, we will detail your Restaurant’s key partners, activities, resources, value proposition, customer segments, customer relationship plan, marketing channels, cost structure and revenue streams.

Products & Services:  Next, we will talk in details about your various products and services. We will describe your Italian cuisine and different menu items including starters, main courses, desserts…etc. We will also provide information about your pricing by product or line of food items.

Market Analysis: This important section describes the various market statistics and consumer trends in the Restaurant industry and explains how they support your Italian Restaurant concept. The purpose of this section is to show that the market conditions are favorable for launching your new Restaurant concept.

Global Market Trends:  In this sub-section of the market analysis, we will discuss the latest global market trends in the Restaurant industry. We will look at the global industry size, growth rate, growth diving factors and consumer trends.

Local Market Trends: This sub-section explains the local market trends that are relevant to your particular Italian Restaurant business.

Target Customers:  In this section, we will describe your various customer profiles by providing information about their demographics, behavior and purchasing habits.

Competitive Analysis:  We will analyze key competitors active in your target market and provide insights about their strengths and weaknesses.

Competitive Advantages: After looking at the competitive landscape, we will then show how your Italian Restaurant business is differentiating itself from the competition through a number of key advantages.

SWOT Analysis:  This section features a 4-quadrant table with explanations about how your Restaurant intends to leverage its key strengths, mitigate weaknesses, capture opportunities and thwart any future threats.

Marketing Plan : This chapter provides detailed information about your go-to-market strategy.

Branding & Awareness:  We will describe in this sub-section your choice of key marketing channels to build branding and awareness.

Customer Acquisition:  We will describe in this sub-section your choice of key marketing channels to acquire customers and increase sales.

Operating Plan: This chapter provides information about your Italian Restaurant’s opening hours, internal processes and describes the interactions between various key departments and teams.

Management Team: It is very important to present the key people behind your Italian Restaurant project and thus we have dedicated a section for this very purpose. It is also important to talk here about the founder’s vision, his past education and professional experience.

Hiring Plan:  No business can succeed without having on board the right team. This section lists all the key positions you plan to hire with information about their salaries and expected start dates.

Key Milestones: To be able to launch and execute your Italian Restaurant project, you need to follow a set of actionable tasks with target deadlines. This section serves this purpose.

Financial Plan: Without a robust financial plan, your Italian Restaurant business plan would be an incomplete document. This important section provides crucial information about your pro-forma financial projections and shows that you have really done your homework. The data mentioned in this and the following sections will be provided by the Excel financial model accompanying your Restaurant business plan.

Projected Revenue: This module shows your Italian Restaurant’s revenue projections over the next three years.

Projected Profit and Loss: This module shows your Italian Restaurant’s income statement (also called profit and loss statement) over the next three years. Your income statement includes detailed projections about your sales and expenses and shows how your Restaurant’s revenue is converted into a net profit.

Projected Cash Flows: This module shows your Italian Restaurant’s cash flow projections over the next three years. The first year of operation is even detailed on a monthly basis. Your cash flow statement will detail the various cash inflows your Italian Restaurant will generate from its day to day operations and from funding sources, as well as the various cash outflows required to pay for operating expenses and business investments.

Projected Balance Sheet : This module shows your Italian Restaurant’s balance sheet projections over the next three years. The balance sheet will provide a summary of your Restaurant’s short term and long term assets in addition to your short term and long term liabilities and capital.

Profitability Analysis: In this section, we will provide information about your gross margin, net margin and discuss the profitability of your Italian Restaurant business.

Funding Requirement: This module states the amount of funding your need to be able to comfortably launch your Italian Restaurant business. It also describes the planned allocation of the funds between Opex and Capex.

Conclusion : Finally, we will conclude your business plan by recapitulating the key points that make your Restaurant project compelling and reiterate the rationale behind your business opportunity.

Why Use our Ready-Made Italian Restaurant Business Plan?

• Speed & Convenience: Once you complete your order, you will receive the Italian Restaurant business plan directly in your mailbox. Since it is already pre-written with fully customizable financials, you will only need to spend a couple of hours to edit it and adapt it to your own F&B project.
• High Quality: Your Italian Restaurant business plan has been written by our professional team of business plan writers and experts from the F&B industry. You will receive a professional Italian Restaurant business plan template ideal for presenting to potential investors or banks.
• Low-Cost: Our pre-written Italian Restaurant business plan template is the most cost-effective solution in case you need to build a solid and professional Italian Restaurant business plan. We are confident you will save hundreds if not thousands of dollars by ordering our premium business plan compared to hiring a consultant or subscribing to complicated and expensive software.

If you have any question regarding our ready-made Italian Restaurant business plan package, do not hesitate to contact us , we are here to help.

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Learn from the business planning experts, resources to help you get ahead, how to write a restaurant business plan, the ultimate guide to planning your restaurant, your recipe for success.

Elevate your restaurant or cafe’s business plan with our expert-curated resources. Our tools are tailored to help you secure funding, gain approval, and build a strong foundation.

Who is this for?

4 key things to do before you begin writing your restaurant business plan.

So, you think you’re ready to dive into the restaurant biz? Hold up. Before you start fantasizing about your grand opening, there’s groundwork to be laid. And I’m not just talking about choosing which trendy aprons your staff will wear. Here are the four non-negotiable steps you need to tackle before you even think about drafting that business plan.

1. Figure Out Your Concept and Brand Identity

What’s your story? And no, “I want to open a restaurant” doesn’t cut it. Are you bringing the sultry tastes of New Orleans to the heart of New York? Or maybe you’re thinking of a vegan joint that even hardcore carnivores can’t resist? That’s your concept. Now, how will you sell it? That’s your brand. It’s not just about what’s on the plate; it’s about the vibe, the ethos, the whole shebang. Your concept and brand identity are what will set you apart from the “just another café” down the street. Got it?

2. Get a Grip on Locations and Logistics

Location, location, location – it’s not just a tired cliché. It’s the make-or-break factor for your restaurant dream. But here’s the kicker: some landlords want to see your business plan before they hand over the keys. It’s a bit of a chicken-and-egg situation, isn’t it? But fear not. This is where your concept shines. It gives landlords a taste of what’s to come, making them more likely to bet on your vision. And logistics? Start thinking about supply chains, kitchen flow, and whether your delivery guy will get stuck in traffic during rush hour. Thrilling, I know.

3. Menu Planning

Ah, the menu – the heart of your restaurant. This is where you get to flex your culinary muscles. But let’s not get carried away with truffle oil just yet. Your menu needs to be a carefully balanced equation of cost, creativity, and logistics. It should scream your brand, cater to your target demographic, and, above all, be feasible. Remember, a great concept with a poorly executed menu is like a smartphone with no battery life – useless.

4. Regulation and Licensing

Dreaming of a chic cocktail lounge to complement your restaurant? You better make sure you can secure that liquor license first. Regulations and licensing are the less glamorous side of the restaurant business, but they’re as crucial as the food you serve. This step is about dotting your i’s and crossing your t’s. Health inspections, food handler certifications, zoning laws – welcome to the bureaucratic maze. Navigate it successfully, and you’re one step closer to pouring those artisanal cocktails.

The Absolute Power of a Killer Restaurant Business Plan

Listen up, future restaurateurs! Why do you need a restaurant business plan that’s more detailed than your grandma’s recipe for lasagna? Simple. It’s the GPS for navigating the wild terrain of the restaurant industry. You’re not just opening a place where people eat; you’re stepping into a battlefield where only the strongest concepts thrive. You think you’ve got what it takes? Then you better have a plan that screams, “Invest in me, I’m going places!”

The Must-Haves of Your Restaurant Business Plan

Crafting this masterpiece involves more than jotting down some numbers and a catchy name. It’s about painting a picture so vivid, investors can taste your dishes just by reading the pages.

Executive Summary

This isn’t your high school book report. It’s the hook that grabs investors by their taste buds. Who are you? What’s your vibe? And why is your place going to be the new hotspot? 

Conceptualizing Your Offering

Are you the oasis for vegan foodies, or the haven for carnivores seeking their next meaty conquest? Define your universe. 

Dive deep into your menu. Why? Because your truffle mac ‘n cheese is going to revolutionize how we think about comfort food, that’s why.  

Location, Location, Location

Explain why your spot is the place to be. Is it the foot traffic, the local vibe, or because it’s an area screaming for a culinary revolution?  

Market Analysis

Who’s coming to eat? What’s the competition? And why’s your restaurant the answer to everyone’s food prayers? 

Strategy & Implementation

How are you going to fill those seats? If “If you build it, they will come” is your only plan, we need to talk. 

Management Dream Team

Who’s running the show? Why are they rock stars? 

Financial Genius

Show me the money – your startup costs, projections, and that magic break-even point. 

Might throw in a curveball or two, like the tech that’ll make your service smoother than a soufflé or the loyalty program that keeps ’em coming back for more. Custom-tailor your plan. This isn’t a one-size-fits-all kind of deal.

Why Sweating the Small Stuff Makes All the Difference

In the cutthroat culinary world, it’s the little things. Your business plan isn’t just a document; it’s your manifesto. It’s what sets you apart in a sea of sameness. Think of it as your restaurant’s DNA – from analyzing your market to breaking down your cash flow. This level of detail doesn’t just impress financiers; it gives you a map through the industry’s maze.

Ready, Set, Pre-Plan!

Think writing a restaurant business plan is your first step? Think again. Before you start dreaming up menu items or picking out tablecloths, there’s something crucial you need to tackle: our Pre-Planning Process . This isn’t just a preliminary step; it’s the foundation on which your entire concept will be built. Want to know more? We’ve laid out every detail on our website. Start Your Journey Here. Alongside the essential tasks to tackle before penning your plan, these resources are invaluable.

The Pre-Planning Process for Restaurant Entrepreneurs

Before the dream becomes reality, there’s the Pre-Planning Process. Think of it as the appetizer to the main course that is your restaurant. This phase is where your vision gets a reality check. Is your brilliant idea in sync with the market? Can it make you money? Let’s chop it up into bite-sized pieces.

Know Your Customer

Who’s sitting at your tables? Getting this right is like nailing the perfect spice blend. Use Pre-Vision Interviews and the Jobs-to-be-Done theory to decode your customers’ cravings. This isn’t just about filling bellies; it’s about fulfilling needs, wants, and dreams on a plate.

Get the full recipe on understanding your customer.

Core Cost Analysis

Next up: the dough. Can your restaurant make financial sense? Break down the costs like a recipe, from ingredients (goods) to chef’s time (labor). It’s all about balancing quality and cost to price your menu right.

Dive into the numbers with our Core Cost Analysis guide.

Business Model Development

Here’s where you sketch out your restaurant’s blueprint using the Business Model Canvas. Mix in customer insights, sprinkle in financial realities, and what do you get? A strategy that’s as solid as your signature dish.

Layer your business model with our development tools.  

Operations in Detail

Operations are the kitchen of your business. It’s where plans meet reality. From picking your team to setting up supplier ties, every choice cooks up the customer experience you’re aiming for.

Whisk through operational planning essentials here.

Startup and Operating Costs

Before the grand opening comes the bill. Understanding the full cost menu—from initial setup to the daily specials—is crucial. It sets up your pricing strategy and opens doors to investors.

Season your financial planning with our Startup and Operating Costs guide.

Now, assuming you’ve got the pre-planning in your rearview, it’s time to talk about step two: actually writing that killer restaurant business plan. This is where your concept starts to take shape, grounded in the gritty realities of the restaurant world and buoyed by your boundless passion. 

Get Up to Speed FAST!

Unsure where to start.

Actually Writing a Perfect Restaurant Business Plan

Okay, so you’re really, really, truly ready to write your restaurant business plan? Our resources guide you through, soup to nuts. Visit our Plan & Pitch section and start cooking up your success story, which will take you through the following steps: 

Understanding Audiences

Knowing who will be reading your business plan is half the battle. Customize your pitch to echo in the halls of banks, impress investors, comply with regulators, charm partners, or convince landlords. Your message needs to land with impact.

Get the right structure for your audience.

Model-Based Planning®

Our Model-Based Planning® slices through the noise, offering a strategic blueprint for any restaurant concept, from a cozy café to a bustling food truck. Embrace a bird’s-eye view of your business terrain, sharpening your concept and competitive edge.

Explore Model-Based Planning®.

Narrative Development

A story well told is a story that sells. Weave your restaurant’s vision, strategy, and USP into a narrative that captivates and convinces, laying a solid foundation for your pitch.

Craft your story.

Dish out a thorough market analysis to understand your competition, the industry trends, and the economic landscape. This is your compass for navigating towards success in the restaurant sector.

Dive into market analysis.

Organizational Structure

The backbone of any successful restaurant is its team. Chart out your organizational structure and pen down compelling team biographies that demonstrate capability and credibility to potential backers.

Build your team structure.

Financial Projections

Serving up a detailed financial forecast is essential. It’s your map for budgeting, setting prices, and securing the dough (funding, that is).

Forecast your finances.

Turn your concept into a full-blown plan with actionable strategies for marketing, sales, and customer delight. A well-seasoned marketing plan ensures you hit your targets and satisfy customer appetites.

Strategize and execute.

Pitch Deck & Finances

An irresistible pitch deck and savvy financial management are your secret ingredients for attracting early-stage investment and securing a smooth launch.

Perfect your investor pitch.

Unlock the Power of Expert Business Planning

Supercharge your restaurant's success.

Our Expert Business Planning Bundle, curated specifically for restaurant entrepreneurs, is a comprehensive toolkit with everything you need to create a winning business plan.

This bundle includes the Model-Based Planning® Worksheet, a professional financial projection Excel model, and expert guides on leveraging these tools and AI to develop your plan. Don’t miss this opportunity to invest in your restaurant’s future and watch your vision come to life.

Gain an Unfair Advantage

The tools you need.

This bundle was created by the top business planning team in the U.S., responsible for the most successful business plan writing company in history. By leveraging these expert resources and insider secrets specific to restaurant planning, you’ll be able to create a standout business plan that sets you apart from the competition.

With this bundle, you will:

• Access the insider knowledge and proven strategies used by the most successful business planning company in the U.S.
• Leverage expert resources tailored specifically to the restaurant industry, giving you a competitive edge
• Streamline your planning process with the Model-Based Planning® Worksheet for Restaurants and Cafes
• Create professional financial projections using the included Excel model
• Utilize the curated restaurant-focused business plan template to structure and organize your plan effectively
• Follow expert guides on leveraging these tools and AI to develop a compelling and comprehensive business plan
• Dramatically increase your chances of securing the loans, investments, or approvals you need to bring your restaurant vision to life

Use this bundle as your primary toolkit for crafting a restaurant business plan that unlocks the funding and support you need.

When crafting a business plan for your restaurant or cafe, you need more than just a generic template. You need a toolkit carefully curated by industry experts who have spent their careers helping restaurants succeed. That’s exactly what our Expert Business Planning Bundle offers, but why invest in this bundle when there are other options available?

The answer is simple: no other resource can match the depth, breadth, and practical wisdom contained in our Expert Business Planning Bundle. Our team has distilled their thousands of hours of experience working with successful restaurants into a comprehensive toolkit that will save you time, money, and the frustration of making costly mistakes.

With our targeted, practical knowledge tailored specifically to the restaurant industry, you’ll be able to write a business plan that’s smarter than what the best consultants could produce, and that’s exactly customized to your unique needs and goals. Whether you’re seeking funding, approvals, or simply want to set your restaurant up for long-term success, our Expert Business Planning Bundle is the ultimate resource to help you achieve your vision.

Frequently Asked Questions

• How do I tailor my business plan to attract potential investors specifically?

Tailoring your business plan to appeal to potential investors involves highlighting the aspects of your business that demonstrate profitability, scalability, and a clear competitive edge. Personal information about the management team’s experience

• What information should I include in the business description section of my restaurant business plan?

The business description section should provide a comprehensive overview of your restaurant, including the concept, target market, menu offerings, and unique selling points. It should also detail the restaurant’s location, design, and how it fits into the broader market landscape. Highlight any differentiators that set your restaurant apart from competitors and outline your vision for the restaurant’s impact on the local dining scene.

• How much personal information should I share about my management team in the business plan?

Your business plan should include succinct biographies of key management team members, focusing on their relevant experience, skills, and contributions to the success of the restaurant. This section should illustrate why each member is uniquely qualified to execute the business plan, without delving into excessive personal detail. 

• Should I highlight my past success stories in the business plan?

Yes, including past a success story or two in your business plan can significantly enhance your credibility and appeal to banks, potential investors, or even landlords. Highlight how these experiences have equipped you with the skills and insights necessary to make your current restaurant venture a success. 

• What are the key elements of a company overview in a restaurant business plan?

The company overview section should summarize the essence of your restaurant, including its name, location, cuisine type, and the dining experience it offers. It should outline your mission statement, core values, and the long-term objectives of your business. 

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• Restaurants & Bars

Free Restaurant Business Plan Template

Opening a restaurant or looking to improve operations at your existing business? Download our free restaurant business plan template to make the process easier. 

What is a restaurant business plan?

A restaurant business plan is a document you begin with when setting up or opening a new restaurant. It's a framework that brings together financials, menus, and marketing that helps you turn your restaurant ideas into a reality.

Professional Business Template

A professional-grade restaurant business plan valued at $159 completely FREE.

Step-by-Step Instructions

This template includes step-by-step instructions for each section of the business plan with examples.

Printable Worksheets

Each section in this template contains fillable worksheets to help you plan out your restaurant business plan.

Flexible Restaurant

Business plan.

Our free-to-download restaurant business plan PDF template includes all the sections you need to get started with opening a restaurant.

• Terms of Service
• Privacy Policy
• Reservation System
• Table Management
• CRM and Guest Profiles
• POS Integration
• Restaurant Analytics
• Contactless Dining
• Online Ordering
• Restaurant Surveys
• All Features
• How to grow your restaurant business using data
• The ultimate restaurant marketing guide
• The 9 best online reservation systems compared
• The 8 elements of superior restaurant customer service
• All articles

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How to Write a Restaurant Business Plan + Free Template

You have cracked the recipe for good food & great ambiance and are planning to start a restaurant, fantastic!

Whether starting a cozy corner cafe, a theme-based fine dining restaurant, or growing an existing one, you will need a restaurant business plan as a roadmap for your business success.

But writing a business plan is complex, isn’t it? That is why we are here with our comprehensive restaurant business plan template to help you in writing yours.

Key Takeaways

• Highlight the concept of the restaurant along with the ambiance, types of cuisines, customer base, and USPs of the restaurant in the plan.
• Utilize tools for SWOT analysis to assess your strengths, weaknesses, opportunities, and threats for making informed decisions.
• Craft an impactful executive summary that outlines your restaurant’s concept, marketing approach, financial outlook, and team expertise to attract potential investors and partners.
• Conduct thorough market research to understand market trends, consumer preferences, and the needs of your target market.
• Analyze the competitive landscape, and identify direct & indirect competitors, to develop strategies that maintain your restaurant’s competitive advantage.
• To ensure efficient daily operations, provide in-depth operational plans that incorporate staffing, additional services, inventory control, and customer service.
• Create realistic financial projections for sales revenue, expenses, and profit forecasts while considering contingencies & emergencies.

Why is a restaurant business plan important?

Crafting a restaurant business plan is daunting but its significance cannot be underestimated. It is essential to drive your business toward success.

In the competitive atmosphere where there are 700,000+ restaurants in the USA, having a proper plan will help you get funding and better adaptability in a constantly changing business environment.

Even if funding isn’t a primary concern, a plan provides the restaurant owner or manager with clear direction on how to create actionable strategies for reaching business goals.

Your business plan will also help solidify the viability of the restaurant’s idea and concept.

In short, think of it as a guide for running all the aspects of the business smoothly.

How to write a restaurant business plan: Step-by-Step Guide

Since we are talking about a restaurant business plan; let us walk you through this restaurant business plan outline step-by-step without any delay:

1. Executive summary

An executive summary is the first section and the most significant section of any business plan. It captures the essence of your whole plan summarizing it for a quick understanding of your business.

Think of it as a sneak peek for the readers that draws their attention to the entire restaurant business plan.

You should start your summary with a compelling introduction with the name of your restaurant. It should also focus on the essence of your restaurant concept.

Give a brief overview of your unique selling points, emphasizing what makes your restaurant special. It might be the signature dishes, innovative ambiance, prime location, or some new cuisine experience.

Apart from the above essential points, your executive summary should include:

• Mission statement
• Vision statement
• Execution structure
• Potential costs
• Expected return on investment

Many readers will read the executive summary before making a judgment, so if this is all they read, make every word count.

Also, SBA advises to include financial projections in your executive summary if you’re using your business plan to request funding.

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2. Company Overview

Company overview is a part where you fully introduce your restaurant business including legal business structure, location, and your restaurant’s proposed concept.

Here you have the liberty to be a little more creative in describing your restaurant in the whole business plan.

Here are some points to incorporate in the company overview:

• Detailed vision and mission statement
• Type of restaurant (fine dining, small restaurant, bistro, cafe, etc.)
• Legal business structure
• Service style
• History and background of the restaurant (if existing)
• Owners’ names and qualifications
• Cusinies & menu highlights
• Restaurant size and seating capacity
• Operating hours & meal plans
• Related service availability (delivery, catering, etc)

Mainly emphasize the chosen location because easily accessible locations with high foot traffic will attract more walk-in customers. And if you haven’t decided on a specific location yet, then mention the type of place you are looking for to give an idea about it to your readers.

Besides, mention the short-term and long-term goals of your restaurant business in the later part of the company description. Along with that mention regional industry trends and your USPs.

Need Assistance Writing a Restaurant Business Plan?

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3. Market analysis

The market analysis section provides you with a clearer picture of your target market, competitors, and industry trends.

Based on the above details, one can make informed decisions while creating strategies. Therefore, make this section precise and concise to understand.

Here are some steps to follow to write an engaging market analysis section of the restaurant business plan:

• Define your customer base: Identify and describe whom you are going to serve. Make a consumer base after considering the demographics, location, and concept of your restaurant.
• Competitive analysis: List out the names of other restaurants in your location and do the SWOT analysis. You can get the competitive advantage of your restaurant this way.
• Market trends: Discuss any shift in consumer behavior like healthy choices, an increase in vegan food consumption, or technological breakthroughs that might affect your restaurant.

Consider conducting market research, TAM-SAM-SOM analysis , and SWOT analysis to get insights for this section.

Remember, this section helps your readers and potential investors understand your target market, restaurant market overview, market size, and growth potential, so make sure you play your cards right.

4. Sample Menu

The most vital step in launching your restaurant business is the menu. A well-curated menu design will sell itself for your restaurant. Even if you are a new restaurant, then present the sample menu with the name and logo of your restaurant on it.

The menu will showcase all the unique offerings your direct competitors might not provide. Not just the list of cuisines but the pricing is also crucial. This way potential investors and readers can understand your restaurant’s target price point.

Plus your menu should be in sync with target customers; for example, a restaurant near the university should contain more beverages and delicious food options for brunch as students prefer those things more.

Consider your menu as a part of branding, choose the same theme for the menu as for the restaurant.

5. Restaurant Design

Restaurant design is the part where you can show your restaurant concept to potential investors and readers practically. Moreover, create a mood board to explain things smoothly.

Utilize this section to show the uniqueness of your restaurant, and how it is different from competitors.

Explain how your design represents your restaurant’s branding and visual identity. Furthermore, mention how your target market will enjoy and appreciate the ambiance you plan to provide.

Note that restaurant design is one of the key elements to running a successful restaurant, so match the theme and cuisines accordingly.

In this section, you also have to provide a detailed description of how many seats are going to be there along with the floor plan of your restaurant.

6. Management Team

As the name suggests, the management team section of your restaurant’s business plan introduces restaurant owners, key executives, and the management team. It also incorporates the experience, qualification, and restaurant industry knowledge of every individual who is on the team.

A strong management team section can be essential to weigh authority and help potential investors be confident about your restaurant’s idea and vision.

You might consider including the following information in the management team section:

• Business owner or founder’s information
• Executive chef and culinary team
• Front-of-house manager
• Operations and back-of-house team
• Advisors/consultants
• The organizational structure of the team

Showcase how each member fits and what roles & responsibilities they will play.  You should include a resume-styled summary for each person in the restaurant’s management section.

7. Operations Plan

The operations plan section outlines the daily business processes and activities centered on achieving the restaurant dream and objectives described in the rest of the plan.

A detailed operations plan helps you and your team define your responsibilities, daily tasks, and short-term goals you need to achieve, keeping track of your long-term objective.

Here are a few key elements to include in your operations plan section:

• Staffing and training
• Operating hours
• Operational process
• Tools and equipment
• Inventory control
• Technology and software
• Quality control measures
• Customer service policies

Remember it should incorporate all important daily tasks. Also, an operations plan is a living document, you can change it often according to the change in the dynamics of the work.

Read More: The Ultimate Guide to Restaurant Operations Planning

8. Marketing Plan

Even with great food, prices, and ambiance, you won’t attract enough diners without marketing.

Thus, a well-crafted restaurant marketing plan is necessary to spread awareness and build a strong brand presence.

The marketing plan can help you streamline your marketing efforts and create impactful and effective marketing campaigns while keeping track of the projected budget and maximizing return on investment.

Hence, this is the section in which you give an idea to your potential investors about how you will acquire new customers and retain existing ones. This section should include:

• Target market and their dining habits
• Branding and positioning
• Marketing strategies (website, social media accounts, etc.)
• Marketing Calendar
• USPs of your restaurant (unique ambiance, amiable staff, new cuisines in the local area)
• Your marketing goals
• Customer retention strategies (loyalty program, giving coupons or discounts on bulk orders or events)

Even if you are going to hire a PR agency for marketing, then mention it and the reason why you chose them.

After taking care of marketing, let us move further to finances.

Read More: Step-by-Step Guide to Restaurant Marketing Plan

9. Financial Plan

The financial plan is the most crucial and demanding section of any business plan. It is one of the deciding factors for potential investors, banks, or any financial institute to invest in your restaurant business.

This section of your plan details your restaurant’s financial information and how it will reach its financial goals or how much revenue potential it has.

Here are key components and statements that you should include in your financial plan section:

• Pro forma profit and loss statement
• Break-even analysis
• Balance sheet
• Sales forecast
• Detailed cost analysis
• Cash flow projections
• Business ratios
• Funding request
• Tax considerations
• Exit strategy

Before you create financial projections, know how many seats the restaurant will have and what services you plan to provide. This will help you in making realistic financial projections if you are going to start a new business.

Also, if you are asking for funding, then mention where you will utilize your funds.

We hope that this sample restaurant business plan will provide you with an idea for writing a successful plan.

Restaurant Industry Highlights 2024

• Growth forecast : National Restaurant Association predicted US restaurant sales to reach $898 billion in 2022 which would further grow by 4% yearly to reach $1.2 trillion by 2030.
• Technology is everywhere : Automation is helping staff maximize their efficiency by handling orders, deliveries, and communication effectively.
• Sustainability & ethical sourcing : Eco-friendly practices such as minimizing food waste, avoiding single-use plastics, and ethical plus local sourcing are encouraged by customers.
• Delivery is the new deal : People prefer deliveries over dining out as they are time-saving. So, there is an incline in the number of delivery apps and delivery services providing restaurants.
• Kiosks are the preference : The number of people who prefer ordering and paying through kiosks is increasing due to the convenience.

How to Refine & Present a Restaurant Business Plan

Once you have written your entire business plan, it is time to read and re-read it and make it error-free. You have to be confident about every aspect of the plan before you present it in front of your audience.

Moreover, alter your plan to suit different audiences to enhance your communication. For instance, keep your plan professional and include all the growth potential, profitability, and ROI data when you present your restaurant business plan for seeking funding.

Also, when you present your restaurant business plan to potential partners or vendors, emphasize collaboration benefits and how it can help in their individual growth.

Apart from the above points, make sure your plan has various engaging visuals, interactive elements, and enhanced storytelling to present all the data interestingly. Thus, make a digital presentation of your plan to incorporate all the above things clutter-free.

Once you are confident, it is time to email your plan to the people already on your mind. And give a pat to yourself for finally taking that step.

Download a sample business plan for a restaurant

Ready to kick-start your business plan writing process? And not sure where to start? Here you go, download our free restaurant business plan pdf , and start writing.

This intuitive, modern, and investment-ready template is designed specifically for restaurants. It includes step-by-step instructions & examples to help in creating your own restaurant business plan.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Related Restaurant Resources

• Restaurant Marketing Plan
• Restaurant Financial Plan
• Restaurant Operations Plan
• Restaurant Industry Trends

Discover how Upmetrics can help you write a business plan

With Upmetrics, you will receive step-by-step guidance, customizable templates, 400+ sample business plans , and AI assistance to streamline your business planning process.

In fact, if you are not adept with finances, the financial forecasting tool Upmetrics provides will help you create realistic financial forecasts for 3 or more years.

Whether you’re starting a new venture or looking to grow one, Upmetrics offers the resources and insights you need to develop a successful & professional business plan that aligns with your goals.

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Frequently asked questions, why do you need a restaurant business plan.

A solid business plan is an essential tool for anyone looking to start or run a successful restaurant business. It helps to get clarity in your business, raise money, and identify potential challenges while starting and growing your business.

How to get funding for your restaurant business?

There are several ways to get funding for your restaurant business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

• Bank loan – You may apply for a loan in government or private banks.
• Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
• Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your business, usually online.
• Angel investors – Getting funds from angel investors is one of the most sought startup options.

What is the easiest way to write your restaurant business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of restaurant business plan samples and edit it as per your needs. You can also quickly finish your plan in just a few hours or less with the help of our business plan software .

Can a good restaurant business plan help me secure funding?

Indeed. A well-crafted restaurant business plan will help your investors better understand your business domain, market trends, strategies, business financials, and growth potential—helping them make better financial decisions.

What's the importance of a marketing strategy in a restaurant business plan?

Marketing strategy is a key component of your restaurant business plan. Whether it is about achieving goals or helping your investors understand the return on investment—an impactful marketing strategy is the way to do it!

Here are a few pointers to help you understand the importance of having a marketing strategy:

• It provides your business an edge over your competitors.
• It helps investors better understand your business and growth potential.
• It helps you develop products with the best profit potential.
• It helps you set accurate pricing for your products or services.

About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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Restaurant Business Plan Template

Written by Dave Lavinsky

If you want to start a restaurant or expand your current one, you need a business plan.

Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their restaurants. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a restaurant business plan step-by-step so you can create your restaurant’s business plan today.

Download our Ultimate Restaurant Business Plan Template here >

What Is a Restaurant Business Plan?

A restaurant business plan provides a snapshot of your restaurant business as it stands today, and lays out your projected growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research, information about your target market, and a sample menu to support your winning restaurant business plan.

Why You Need a Business Plan for a Restaurant

If you’re looking to start a restaurant or grow the existing restaurant you need a business plan. A restaurant business plan will help you secure funding, if needed, and plan out the growth of your restaurant in order to improve your chances of success. Your restaurant business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Restaurants

With regards to funding, the main sources of funding for a restaurant are bank loans and angel investors. With regards to bank loans, banks will want to review your restaurant business plan and gain confidence that you will be able to repay your loan and interest.

To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional restaurant business plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a restaurant is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding or, like a bank, they will give you a loan. Private equity groups are also a good source of funding for restaurant chains looking to expand further.

Finish Your Business Plan Today!

How to write a restaurant business plan.

Use the following restaurant business plan template which includes the 10 key elements for how to write a restaurant business plan that will help you start, grow, and/or secure funding for your business.

Executive Summary

Your executive summary provides an introduction to your restaurant business plan, but it is normally the last section you write because it provides a summary of each key section of your business plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of restaurant business you are operating and the status; for example, are you a startup, do you have a restaurant that you would like to grow, or are you operating a chain of restaurants?

Next, provide an overview of each of the subsequent sections of your business plan. For example, give a brief overview of the restaurant industry. Discuss the type of restaurant you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer a financial analysis of your business.

Company Overview

In your company analysis, you will provide a brief description of the type of restaurant you are operating.

For example, are you writing a small restaurant business plan or a business plan for a restaurant franchise. Further, you might operate one of the following types:

• Fine Dining : characterized by the fancy decor, a dress code, and high prices
• Casual Dining : offers waiter/waitress service in a nice (but not overly fancy) atmosphere with moderate prices
• Fast Casual : characterized by quality food (close to the quality of casual dining) but no waiter/waitress service in an accessible atmosphere
• Fast Food : quick service style provided at the counter or via a drive-through. Lowest quality food and lowest prices
• Steak Restaurant : focuses on steak entrees and is usually a higher priced and fancier restaurant
• Buffet Restaurant : may or may not offer waiter/waitress service. Patrons serve themselves from buffet food selection
• Ethnic Restaurant : focuses on a specific ethnic cuisine such as Indian food, Mexican food, or Moroccan cuisine.

Within these types of restaurants, there are also ethnic food specialties such as American, Italian, Japanese, Chinese, Indian, etc.

In addition to explaining the type of restaurant you operate, the Company Analysis section of your restaurant business plan needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• Your mission statement and how it connects to your restaurant’s brand.
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new restaurant openings, etc.
• Your legal business structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, also called a Market Analysis, you need to provide a market overview and an overview of the industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the restaurant industry educates you. It helps you understand the target market in which you are operating.

Secondly, research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards speedy restaurant services, it would be helpful to ensure your business plan calls for take-out or other quick-service options.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your business plan, you achieve just that.

The following questions should be answered in the industry analysis section of your restaurant business plan:

• How big is the restaurant business (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your restaurant? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your restaurant business plan must detail the customer base or target market you serve and/or expect to serve.

The following are examples of customer segments: business executives, college students, sports enthusiasts, soccer moms, techies, teens, baby boomers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of restaurant you operate. Clearly, baby boomers would want a different atmosphere, pricing and sample menu options, and would respond to different marketing promotions than teens.

Try to break out your customers in terms of their demographic and psychographic profiles. With regards to diner demographics, include a discussion of the ages, genders, locations, and average income levels of the new customers you seek to serve. Because most restaurants primarily serve customers living in the same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. This should also include how your customers choose where they should eat, their dining habits, and how much they are willing to spend on a meal.

The answers to the following questions should be included in your customer analysis:

• Who is your target market?
• What are their needs and wants?
• How do they make dining decisions?
• What motivates them to choose one restaurant over another?

The more you can understand and define these needs, the better you will do in attracting and building customer loyalty.

Finish Your Restaurant Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your business plan?

With Growthink’s Ultimate Restaurant Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

This competitive research should help you identify the direct and indirect competitors that your business faces and then focus on the latter.

Direct competitors are other restaurants.

Indirect competitors are other options that customers have to purchase from you that aren’t directly competing. This includes restaurants, supermarkets, and customers preparing dishes for themselves at home. You need to mention such competition to show you understand that not everyone frequents a restaurant each day.

With regards to direct competition, you want to detail the other restaurants with which you compete. Your greatest competitors will be restaurants located very close to your specific location, who are of the same type (e.g., fine dining, casual dining, etc.) and who offer the same cuisine (Japanese, Italian, etc.).

For each such competitor, provide an overview of the other businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of repeat customers do they serve?
• What menu items do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the existing customers’ perspective. And don’t hesitate to find out this information from customers by reviewing your competitors’ Yelp listings and other review pages.

The final part of this section is to document your areas of competitive advantage. For example:

• Will you provide superior food items?
• Will you provide menu items that your competitors don’t offer?
• Will you make it easier or faster for customers to acquire your meals?
• Will you provide better customer service?
• Will you offer better pricing?

Think about your unique selling points that will help you outperform your competition and document them in this section of your business plan.

    Finish Your Business Plan Today!

Marketing plan.

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a restaurant business plan, your marketing plan should include the following:

Product : in the product section you should reiterate the type of restaurant that you documented in your Company Analysis. Then, detail the specific menu items you offer/will offer.

Price : Document the prices. Essentially in the product and price sub-sections of your marketing plan, you are presenting the menu items you offer and their prices.

Place : Place refers to the location of your restaurant. Perform a location analysis and mention how the location will impact your success. For example, is your restaurant located next to a heavily populated office building, or gym? Discuss how your location might provide a steady stream of customers. Also, if you operate or plan to operate food trucks, detail the locations where the trucks will operate.

Promotions : the final part of your restaurant marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Making your restaurant’s front store extra appealing to attract passing customers
• Search engine marketing and optimization
• Social media posting/advertising
• Advertising in local papers and magazines
• Reaching out to local bloggers and websites
• Local radio advertising
• Banner ads at local venues

Operations Plan

While the earlier sections of your restaurant business plan explained your goals, your operational plan describes how you will meet them.

This section of your restaurant business plan should have two key elements as follows:

• Everyday short-term processes include all of the tasks involved in running your restaurant such as serving customers, procuring supplies, keeping the restaurant clean, etc.
• Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 1,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

Management Team

To demonstrate your restaurant’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in the restaurant business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience operating restaurants and/or successfully running small businesses.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Pro-Forma Profit & Loss Statement / Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows how much revenue you expect to earn or have earned, and then subtracts your costs to show your actual or projected profit.

In developing your income statement, you need to devise assumptions. For example, will you serve 100 customers per day or 200? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Pro-Forma Balance Sheets

While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities.

For instance, if you spend $250,000 on building out your restaurant, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Pro-Forma Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

For example, let’s say a company approached you with a massive $100,000 catering contract, that would cost you $50,000 to fulfill. Well, in most cases, you would have to pay that $50,000 now for ingredients, supplies, equipment rentals, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During that 180-day period, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a restaurant:

• Location build-out including design fees, construction, etc.
• Cost of equipment like stoves, refrigerators, blenders
• Cost of ingredients and maintaining an adequate amount of supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections, detailed cost analysis and/or break-even analysis in the appendix of your business plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint, location lease, or initial menu design.

Taking the time to write your own restaurant business plan for your business is a worthwhile endeavor. It will help you communicate your ideas and provide potential investors with the information they need to make an informed decision about investing in your restaurant.

A well-crafted business plan will also give you a road map for growing your business and achieving your long-term goals. So, while it may take some time to put together, it will be well worth the effort in the end.

If you follow the restaurant business plan template above, by the time you are done, you will truly be an expert. You will really understand the restaurant business, your competition, and your existing customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful restaurant concept.

Want more tips? Check out our related articles:

• How to Start a Restaurant
• Restaurant Startup Costs: How Much Does It Cost To Start a Restaurant?
• How To Write a Restaurant Marketing Plan + Template & Examples
• How To Get Funding To Start and/or Grow Your Restaurant

Restaurant Business Plan Template FAQs

What is the easiest way to complete my restaurant business plan.

Growthink’s Ultimate Restaurant Business Plan Template allows you to quickly and easily complete your restaurant business plan.

Where Can I Download a Free Restaurant Business Plan PDF?

You can download our restaurant business plan PDF template here . This is a restaurant business plan template you can use in PDF format.

Where Can I Find a Small Restaurant Business Plan PDF?

Our small restaurant business plan PDF is a free resource to to help you get started on your own small restaurant business plan.

Don’t you wish there was a faster, easier way to finish your Restaurant business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how Growthink’s business plan professional services can help you create a winning business.

Other Helpful Business Plan Articles & Templates

Restaurant Financial Model Excel Template

Excel spreadsheet template to make financial plans for your restaurant business. Helps you to prepare budget and run scenarios before/after investment.

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TEMPLATE DESCRIPTION

How to open a Restaurant or Café of your dreams? Actually, it is quite hard to have a popular restaurant with high profits all at once. For this reason, before opening your café, you should make some calculations and some budget assumptions. We have built this Restaurant Financial Model Template to help you make startup feasibility studies in Excel easily.

Our Restaurant Financial Plan is intricately designed for the diverse needs of restaurants, cafes, bistros, and coffee shops, providing precise financial modeling and forecasting tools.

By using this Excel Financial Feasibility Template , you will start to input your projections and see possible results of them without needing to learn complex concepts!

What should a restaurant feasibility report include:

• Long term plan of your business (1 to 5 years)
• Profit predictions (EBITDA)
• Financial Statements: Income Statement, Balance Sheet, Cash Flow Statement
• Sales Revenue and Cost of Goods Sold
• Capital budget needed
• The simulation of your plans

Therefore, you will be aware of any risks before making your investments. This template will provide you with all this data!

WHY TO USE RESTAURANT FINANCIAL MODEL EXCEL TEMPLATE?

• Our restaurant financial model simplifies the daunting task of bookkeeping and budgeting , allowing operators in the food and beverage sector to effortlessly track their earnings, expenses, and taxes.
• With meticulous attention to the specifics of operating a successful eatery, the plan supports managing inventory , credit transactions, and income flows , ensuring the establishment’s profitability and sustainability.
• Our modeling tool considers essential factors such as seat count, seasonality , and margin analysis . It provides invaluable insights into the financial dynamics of catering and restaurant businesses.
• Through accurate forecast functionalities, owners can project and plan for EBITDA , monitor their operating margin, and handle invoices efficiently, making it an essential for any cafe or restaurant owner.
• Whether serving coffee or crafting exquisite food menus, our financial plan is tailored to assist in navigating through the financial complexities of the restaurant industry , ensuring a smooth operational experience.

RESTAURANT / CAFÉ FINANCIAL MODEL FEATURES

Basically, this template consists of 3 main parts:

• Sales and Pricing Assumptions
• Fixed and Startup Costs

Thus, the flow of the Restaurant Financial Model is:

• First of all, in the Assumptions section, input your Sales projections, prices, and unit cost
• Then input your fixed and startup costs like rent, electricity, equipment, and so on.
• And according to your inputs, output reports such as profitability, break-even and many more will be automatically created.
• Finally, you can analyze the outputs to make new projections until you get satisfying results.

Visually, this process works like this:

Below, we will explain these 3 sections in detail. But before that, let’s start with reviewing the Dashboard section of the template.

FINANCIAL MODEL DASHBOARD

We have prepared a Dashboard section to manage this comprehensive financial model easily. The above section of the Dashboard is Navigation, while the below section is Settings.

Here is the Navigation section. Basically, you can put the predictions to the sections of the left which is blue or red. After that, output results will appear in the green sections on the right.

Also, the Dashboard has a Settings part like this:

Settings details in this restaurant financial model are as follows:

Menu Items – Group table : Here, we have put some dummy menu items. You can input your product which you plan to sell in your Restaurant/Café. (If you need much more space for it, you can expand the area easily by clicking + sign. This is valid throughout the financial model template)

Sales Channels: Sales channels are your delivery ways. We placed 3 channels as an example: Sit-Down, Take-Away, Online order. According to these sales channels, you can define different pricing strategies for a product. For example, when customers prefer Take-Away service delivery, you can sell it at a lower price. As a result, these options will provide flexibility to your restaurant. You can add/remove other sales channels.

Model Config: You can change these 4 options:

• Projection Years: Projection years allow you to predict the monthly Café budget from 1 to 5 years. It depends on your requirements about the feasibility period. If you want to change it, the reports will be updated.
• Start Date: Put here the possible start date of your restaurant. Report outputs will start with the selected date.
• Currency: Put your currency here. It will not change the cell formatting but it will be shown on financial reports.
• Instructions: You can hide/show instructions from the drop-down.

1. SALES AND PRICING ASSUMPTIONS

You will input all your assumptions related to your restaurant in this financial model tool:

• Firstly, select your menu items and sales channels (group info will be displayed automatically)
• Make your assumptions about Unit price (Sell-Out) and Unit cost (COGS)
• Input your weekly sales volume in order to calculate revenue projections
• Predict growth percentage of sales projections, price evaluation, and cost evaluation. You can do it on the basis of weekly, monthly, yearly or quarterly
• The table will be calculated via simple multiplication of units and prices per month and it provides Sales Revenue and Total COGS results.
• Remember: White areas are where you make your inputs or selections. Gray cells are calculations and should NOT be manually changed.

Now, we will input assumptions about fixed costs and startup costs.

2. FIXED AND STARTUP COSTS

Fixed and Startup costs are the core concern of your restaurant budget. Understanding these costs will prevent any financial risk at the beginning and help better overall management.

In this section, we input Salaries and Other Fixed Cost assumptions:

Salaries: Labor is one of the biggest expenses of your budget (You may choose to start paying some of your labor salaries later). Afterward, you can see the effects of the salaries on the Breakeven analysis.

Other Monthly Expenses: Input here your other monthly costs like Rent, Advertising, and Agency. During the start-up phase, it can be hard to accurately predict these costs. However, once you analyze the outputs, you will be able to make more accurate assumptions about your revenue.

While filling this section keep in mind that salaries and fixed costs may increase over time. So keep an eye on restaurant financial model Excel template output reports to help you decide on these increases.

Start-up Costs: Start-up costs are more than furnishing, spoon, or plates. It requires careful planning and estimations and it is essential for the output results. Therefore, if you want to find an answer to “When my restaurant will start to gain profits?” calculate your start-up costs and input them here.  Later on, it will appear in the Breakeven Analysis.

For the sake of simplicity, we ignored amortization and depreciation in the Breakeven Analysis. So, if you have a significant amount of fixed assets and want to include depreciation, you can deduct them from monthly expenses.

3. REPORTING

Financial statements.

Organized financial models are built from top to bottom. The Restaurant Financial Plan Template provides monthly statements that flow into annual summaries easily.

Basically, 3 main statements will appear:

• Income Statement (P&L)
• Balance Sheet
• Cash Flow Statement

Most of the variables come from the results of your assumptions. Every gray cell is automatically calculated by values. So the only place you should type manually is white cells.

BREAK-EVEN ANALYSIS

Spending money does not necessarily create profits. You should use some tools for better understanding. Break-even analysis is an effective way to lower your budget/capital risk. However, the charts may be time-consuming to prepare. This Excel Restaurant Financial Plan Template does it for you automatically:

It helps you to make your analysis with various price and sales volume scenarios yearly, quarterly or monthly . After that, you can manage your budget assumptions in order to get to the positive side of break-even.

OTHER REPORTS

• PROFITS (EBITDA) – TREND REPORT
• SALES UNITS BREAKDOWN
• REVENUE DETAILS
• GROSS PROFITS
• SALARIES REPORT

DATA SOURCE

Finally, the Data Source is the section that consolidates all data and inputs of your restaurant’s financial plan. We do not recommend you make any manual changes in this section. However, if you are comfortable enough to modify the file structure, you can edit this section to create much more customized reports with your data.

Adopt our Restaurant Financial Model Excel Template for an organized approach to your establishment’s finances, taking into account every essential detail from inventory management to earnings projections and tax compliance.

RESTAURANT FINANCIAL MODEL EXCEL TEMPLATE – FEATURES SUMMARY

• Unique Excel Template to perform financial feasibility studies
• Works both on Mac and Windows
• No installation needed, ready to use.
• Professional design and suitable for presentations
• Innovative reporting system
• Financial Statements
• On Sheet Instructions
• White Label
• Print-Ready
• Compatible with Excel 2010 and later versions

Restaurant Financial Plan is a ready-to-use Excel Template and provided as-is. If you need customization on your reports or need more complex templates, please refer to our custom services .

SOMEKA FINANCIAL MODELS COLLECTION

Product video.

Watch the video below to see the template in action! Presentation also includes usage notes, explanations and tips & tricks about the template.

FREQUENTLY ASKED QUESTIONS

Restaurant financial model faq.

If you have mistakenly included something incorrect to this template or if you wish to alter it entirely, simply press the “ Clear Template ” button on the dashboard sheet.

Is the euro currency available for restaurant financial model template?

The default currency of this template is the US Dollar , but you can change it to any other currency of your choice. To do so, go to the Dashboard, click on Settings, and find the “Currency” option in the Model Config column.

I added some information regarding fixed costs to the restaurant spreadsheet, yet I can't see it in the gross profit. What am I missing?

To make sure that your data is accurately reflected in reports and charts, simply click the ‘update reports’ button and the information will be updated automatically .

How can I add social media as a sales channel to this financial model template?

Simply open the Dashboard sheet, find the Settings option, and add whatever sales channels you like in the related column.

What is the usage of adding projection years to the restuarant template?

Projecting years can help you forecast the monthly budget for up to five years, depending on the length of the feasibility period you want. If you would like to make alterations, the reports can be modified accordingly.

Is that possible to print some specific areas of restaurant financial model?

Our templates are all formatted to be printed. Nevertheless, if you desire, you can adjust them to meet your particular requirements. Click here to learn about it step by step.

What are the major financial reports used in restaurant feasibility model?

• Here are some of the financial reports for restaurant models:
• Financial statements (P&L, Balance Sheet, Cash Flow Statement)
• Break-Even Analysis
• Profit (EBIDTA) Trend Report
• Sales Units Breakdown
• Revenue Analysis
• Gross Profit Report
• Salaries Report

USER REVIEWS & COMMENTS

23 reviews for restaurant financial model excel template.

Evert Kong – May 10, 2023

Thank you for making this template, it is been 6 month that I am using the single user of this template, recently we are expanding the finance team of reasturant and we upgrdae it to Multi User, other employees where also satisfied with this too. Thanks again.

Subi Guupta – March 20, 2023

I want to have acess to the headings but I can not! why is everything luck or needs something more to do from my side!

Someka – March 20, 2023

Hello, sorry for the inconvenience. Actually, we have our templates so users don’t change formulas accidentally. About headings, we hide them in most of our templates to increase the view area and make things simpler. But you simply can unhide the columns in Excel template , with the steps that we explained in If you need more help please get in touch with us ASAP. Email: [email protected]

Fadi M. – February 18, 2023

I have a chain reasturant, I need not just the finance thing, but also a recepie manager, do you have something more for me in your business?

Someka – February 18, 2023

Hello there, thanks for approaching us. Yes, we have a great Excel bundle for restaurant owners , it comes up with 9 different templates with a really good offer. Please check the provided link.

Ralph Diaz – January 20, 2023

Graet tool. My reasturant finance and systems were a mess before it! good luck

Kaan – November 19, 2022

Hello team, I purchased this template, but I need more actually! Like a template that I can manage all my employees and like adding the costs of each meal. But in this template I can not do it. Do you have a more general template?

Someka – November 20, 2022

Hello there, Happy that you are one of our regular customers. I have a good solution for you. If you have a restaurant and you need to manage every thing from A to Z, I suggest you to use Someka Reasturants Bundle, You can download the free version of them individually to have a better understanding and then you can download all templates with a really good offer! Please check this link . I hope it helps you.

Joshua Seymour – June 1, 2022

Your templates are excellent. I’m a freelancer that helps restaurant investors and owners or food retail investors owners to set up their businesses . Therefore, I’m looking for an easy solution to be able to do feasibility study very quickly and easily . Is your solution what I’m looking for ?

Someka – June 1, 2022

We believe that our Restaurant Financial Plan Template might be very helpful for your business.

Please check our detailed product page and tutorial video to learn more about the template.

We also have a free download option for this product which will allow you to try the template and its features with limited access before purchasing.

Just try it and should you have any questions, we’re always here to help!

Cirino Z – January 20, 2022

Breakeven analysis is a great sheet. It’s great to see when I’ll get my invested money with the different cases.

Korey Allard – January 10, 2022

Hi team this works well, can yu give me assistance. i am not expert excel user how change your logo? i am so disappointed

Someka – January 10, 2022

Hello Korey,

In order to remove the logo and add yours, just unprotect your sheet with the password which is provided in the ZIP file.

For a further explanation check this guide: Can I remove your logo and insert mine?

mohammad abuabed – December 31, 2020

I bought this financial model sheet. Inputs are not reflecting on the reports, I guess I did something wrong while entering the numbers. I want the sheet to reset the original status.

Someka – January 1, 2021

Hi Mohammad,

Did you click the green “ Update Report ” buttons in each Report Outputs section separately after you input your data? Otherwise, the template won’t update itself.

If you think that you corrupt the template accidentally, you can download the original file from the download email you received previously.

For further questions please do not hesitate to contact us anytime!

mohammad abuabed – January 2, 2021

It worked. Thanks!

Anees Ahmad – October 15, 2020

Hi, Dear Ma’am/Sir My name is Anees Ahmad I have bought your multi-user licensed Someka Restaurant financial Plan Template. I have watched your video tutorial about how to use it. everything is perfect but I have an issue with “Sales-pricing-cost” section. I am still unable to understand how it works, like I want to add my sales on daily bases and there prices are not fixed you know that grocery items prices changes with the passage of time, how could I add my sales on daily bases. once in a month cost like; electricity gas bills, tax and salaries these are perfectly understandable. Please let me know how I could add my sales on daily bases. Regards

Someka – October 16, 2020

First of all, thanks a lot for your interest and detailed comment! We appreciate that you like our template.

While we are preparing the financial models, we are trying to do it as simply as possible. That’s why we want you to input some of the values as approximately. On the other hand, you are also right about wanting to enter it on a daily basis. But, it takes too much time and becomes more complicated to fill in the data. Most of our customers don’t want to enter the data on a daily basis. So, that’s why we prefer to do this Financial Model like that according to the feedback we get.

We totally understand your thoughts about the “grocery items prices” but, you might enter some mean values in the cell we leave to input the values. By the way, we also have a customization process for our customers who wants to increase the scope of the financial model. If you want, we can direct you to one of our developers that quite experienced in our Financial Models to make some customization.

If you have further questions please do not hesitate to contact us anytime.

Kindly regards,

Daisy – April 16, 2019

bought this to write a business plan for a new client and wanted to save time by not building my own. overpriced for what it is, inputs are not connected and everything needs to be entered manually. pretty but unintelligent model IMO.

Someka – April 18, 2019

Hello Daisy, thanks for taking your time to write this review. And we’re really sorry that the template was not useful for you. Let us address your points:

– “ .. write a business plan for a new client and wanted to save time by not building my own .. ” This is exactly the purpose of our ready-to-use templates.

– “ .. overpriced for what it is .. ” Actually, there is a huge amount of time and effort invested in this template. We’ve shared some mockups for the development phase for one of our financial models here: How We Build Financial Models

– “ .. inputs are not connected and everything needs to be entered manually .. ” This is quite surprising. Because, just the contrary, everything in our model is connected with each other and when you make a change on a section, it all effects the other sections + reports + financial statements. Is it possible maybe you forgot to click Refresh button on the template when you make any change? You can also watch the product video to see how it works: Restaurant Financial Model Explanatory Video

Again, we really appreciate you spending time to write your comments. We will be more than happy to help you resolve any issues. Just send us an email if you need further support.

arthurgarcia90 – November 20, 2018

It’s too complex I don’t have such a big data to fill in. Would appreciate a simpler version.

justin_avery – November 17, 2018

Excellent and quick in responding

Mike W. – October 28, 2018

If you have business you need these worksheets from here! Highly recommend.

P.Thompson – October 10, 2018

I was struggling to my own financial plans but got help from this template. Both comprehensive and easy-to-understand.

Gabriel Ward – October 6, 2018

Great plan! Very comprehensive! Thank you!

Daniel Wilson – October 5, 2018

Very glad this model is available! This one saves me lots of tedious calculations, and it really does simply finding my achievements by giving all the outputs that I’ve never thought before. Thank you Someka!

andry26 – September 7, 2018

this spreadsheet is multitude! In startup phase, i can’t comprehend all these financial terms. I can see that, it has good amount of details but would prefer a basic version. Maybe that’s just me though.

Sobnernomain – September 7, 2018

MORE THAN EXPECTED. NICE WORK. FRIENDLY AND HONEST SUPPORT TEAM. I’M REALLY HAPPY

nikoradu – August 12, 2018

Just before a few days of my final pitch I started to use someka’s restaurant template. Wish I found it earlier. The template is very well designed. Teachers, friends love it. Really appreciate.

Pham Vig – August 2, 2018

Financial things is getting on my nerves! I am a restaurant owner and template was quite helpful. Some parts were so easy to understand but some of them were a bit complex for me. Team was very supportive. Thx!

Jamal Al Nadeau – July 30, 2018

Having’ hard time figuring out when my cafeshop profit will be reasonable. This template does a good job to remind what should i consider. Calculating my gross margin, future sales and breakeven analysis point out lots of things to me.

Diego Hayes – July 30, 2018

I had a few technical issues but service provider was great to solve either.

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RICE Framework: How to Prioritize Your Ideas (+ Template)

Table of Contents

With so many fabulous project ideas you cannot wait to dabble in — how do you decide which ones must take priority?

Product managers know how challenging product roadmap prioritization can be. So, to make the process less daunting, they use prioritization models, such as the RICE framework, to assess potential idea value and importance.

Read on to find out how to calculate the RICE score for your project ideas and get access to a reference example and a free RICE framework template.

• The RICE scoring model is a prioritization tool for evaluating ideas.
• RICE was co-developed by Sean McBride, a former product manager at Intercom, to resolve common decision-making challenges in product management.
• The framework is based on 4 factors: Reach, Impact, Confidence, and Effort.
• The main benefits of this prioritization method include data-driven evaluation, better time and resource allocation, and transparency.
• This scoring system uses a simple formula: Reach x Impact x Confidence / Effort = RICE score.

What is the RICE framework? 

The RICE framework is a prioritization method for assessing the potential value and priority of ideas and initiatives.

Listed as one of the top roadmapping tools and techniques by the members of the Forbes Technology Council, the framework was originally developed to help product managers evaluate competing ideas in their product roadmaps.

The framework is also known as the RICE prioritization method, framework, process, or model, the RICE scoring model, the RICE scoring system, and the RICE analysis.

💡 Plaky Pro Tip

The RICE framework belongs to the realm of project prioritization and is one of the many frameworks you can use. Check out our guide to project prioritization to learn why it’s important and how to do it properly:

• The ultimate guide to project prioritization

What does the acronym RICE stand for?

The acronym RICE stands for the 4 factors used to assess idea priority:

• C onfidence, and

We’ll explain these factors in more detail a bit further below.

What is the formula for the RICE scoring model?

The formula for the RICE model is as follows:

R each x I mpact x C onfidence / E ffort = RICE score

How does the RICE prioritization framework work?

To do the RICE analysis, you must evaluate your ideas or initiatives according to the 4 above-mentioned factors and use the formula to calculate the RICE score.

Once you have the RICE scores for all your ideas, you can analyze them and arrange them according to priority. 

Here’s how that can be done in a project management tool like Plaky:

Every organization is free to come up with its own scoring criteria for the following 4 factors. 

To make it easier to explain the framework, we’ll stick with the original scoring system suggested by Sean McBride, the co-developer of the framework.

RICE factor #1: Reach

Reach is an estimate of how many people will be affected by an idea in a specific time frame.

This component plays into the idea of purposeful product management , in that it helps identify initiatives that resolve customer problems, concerns, or needs, and thus, have a wider reach. 

To calculate this factor, you must first decide the context of the “reach” and the time period you want to consider.

For example, let’s say that Reach refers to the number of people who’ll use a feature in the next month. This new feature will be delivered to 6,000 monthly active users, but you estimate it’ll be used by 40% of them. 

Therefore, your Reach score is 40% x 6,000 = 2,400 people.

The higher the Reach, the better the potential impact of your project, so rely on real metrics rather than guesstimates. You can also use market research, customer surveys, and user analytics to ensure the data is as accurate as possible.

RICE factor #2: Impact

Impact shows you how much the project will affect a specific goal , such as better customer experience or some other business objective.

For instance, if you’re looking to sell a new product feature to as many customers as possible, the feature that boosts the conversion rate should be prioritized.

On the other hand, if your goal as a company is to increase customer delight, then you’ll prioritize features that improve customer satisfaction.

Since it’s difficult to measure, the RICE framework prescribes a simple scoring system for determining an idea’s impact:

• Massive impact — 3,
• High impact — 2,
• Medium impact — 1,
• Low impact — 0.5, and
• Minimal impact — 0.25.

RICE factor #3: Confidence

Confidence shows how sure you are about your estimates.

This score mainly serves to curb your enthusiasm regarding projects that seem great but their Reach, Impact, or Effort scores aren’t exactly backed by reliable data.

Essentially, if you’ve had to rely on your gut feeling or anecdotal evidence to determine some of the other factors, the Confidence score should reassure you and give you more control over the prioritization process. 

Think of the Confidence component as a safeguard. It’s your chance to weed out accidental bias and projects with doubtful chances of success.

In RICE analysis, Confidence is expressed as a percentage. Once again, you can rely on a simple scale here to determine how confident you are about a project idea:

• High confidence — 100%,
• Medium confidence — 80%, and
• Low confidence — 50%.

Anything below 50% is considered a total shot in the dark by McBride.

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Take control of your team’s workload and achieve better project results with Plaky.

RICE factor #4: Effort

Effort indicates the amount of time the project needs to be completed.

To calculate the Effort score, consider the number of people you’d need for the project and how much time they’d take to complete it.

Most often, Effort is expressed as person-months, referring to the work 1 team member can do in a month’s time. However, you can also express it as person-hours, person-weeks, person-Sprints, etc.

For example, an idea might require a 5-person team working full-time to complete it in a month, so the Effort score would be 5 person-months.

On the other hand, you may have 2 people working on the project for 3 months. In that case, the Effort score is 2 x 3 = 6 person-months.

These estimates are sort of rough, so it’s best to use whole numbers here. Still, if a task would take only half a month or less, use 0.5.

Effort is the only “negative” factor in the framework, so it’s used as a denominator in the RICE equation. 

And the higher the Effort score, the worse the project’s RICE score since you’d have to work harder and longer to complete the project.

Another prioritization tool that uses similar parameters is the impact effort matrix. Check it out:

How to Use Impact Effort Matrix for Improved Prioritization

An example of a calculated rice score.

Let’s look at a practical example to better illustrate how you can apply the RICE equation to your own project ideas.

Imagine you’re part of a team that has developed and continuously works on a social movie cataloging app. 

The app currently has 8,000 active users, and you’re looking to prioritize the product roadmap for Q1 of the upcoming year.

To properly use the RICE framework for your roadmap, you need to:

• Define your project ideas,
• Score your ideas,
• Calculate the RICE scores, and
• Analyze the results. 

Let’s go through each step in more detail.

Not sure how to plan your product roadmap? Use Plaky’s free product roadmap template to keep your team aligned around the same goals and effectively track project performance:

• Product Roadmap Template

Step #1: Define the project ideas

Your movie cataloging app has been doing well so far, but users have given you some feedback on the community forum and are asking for the following features or changes:

• Custom update statuses — right now, users can only choose from 2 different statuses (Watched and Want to Watch). This feature would let them customize their statuses and potentially increase their engagement.
• Improved search and filter options — currently, the app offers a rudimentary search option by actor, director, or movie title. Users want more options, such as genre, length, and publishing date filters.
• Reports — app users have also expressed their interest in seeing their movie statistics, e.g., how many movies they’ve watched in a month, their most-watched genres, and similar.

Step #2: Score your ideas

Before scoring your ideas, you should determine the context of each RICE factor and what it means. Here’s how we’ll measure the components in this example:

• Reach — number of users the feature or change will impact in Q1.
• Impact — the estimated impact the feature or change will have on each user, ranging from 0.25 (minimal impact) to 3 (massive impact).
• Confidence — the level of confidence you have in each project idea, ranging from low (50%) and medium (80%) to high confidence (100%).
• Effort — the amount of time your teammates need to complete a project, expressed in person-months.

After going through the data and getting input from other project stakeholders , here’s how you’ve scored these 3 project ideas:

Now, let’s see the RICE scores for each of these ideas.

Step #3: Calculate the RICE scores

Using the RICE equation mentioned earlier, you can now calculate the RICE scores of your project ideas:

So what do these results say?

Step #4: Analyze the RICE scores

Once you have your RICE scores, you can clearly see which ideas you might want to prioritize and why.

For instance, the idea you should focus on first is adding custom update statuses, as it requires less effort than the other 2 projects, has a high Impact score, and you’re 100% confident in it.

The other 2 ideas have the same Confidence factor of 80%, but their Effort and Impact scores are drastically different.

Their Reach scores are similar, but the reports project has a much higher Impact score than the search and filters project. Because of that, its RICE score is higher — even though it would require more effort to complete than improving the app’s search and filter options.

Instead of making a separate RICE matrix each time you want to prioritize your project ideas, you can list them all in a project management tool such as Plaky.

Here’s how this example can be displayed in Plaky:

Thanks to Plaky’s sorting options, you can also sort your project ideas according to their RICE scores to instantly recognize which projects to prioritize:

Free RICE framework template you can use

One of the easiest ways to use RICE is to set up a spreadsheet where you can automatically calculate the RICE score.

If you want to apply the RICE scoring model to your projects, here’s a free RICE matrix template you can download and customize to your needs.

The template already contains the RICE formula, so all you have to do is fill out the matrix using your own project ideas and data. The RICE scores will be automatically calculated. 

FAQs about the RICE method

Now that you know how to use RICE, let’s go over some of the most common questions asked about this scoring system.

A brief history of the RICE model

The RICE prioritization framework was co-developed by Sean McBride while he was working as a product manager at Intercom, a business messaging software company.

Along with other PMs, Sean developed a scoring system for prioritization in product management that fit the context of the company’s needs at the time. 

The goal of the RICE scoring system is to discourage PMs from focusing on pet, clever, and new ideas, and instead work on:

• Projects with an extensive reach,
• Projects with a direct influence on their goals, and
• Projects they’re already confident about and believe in.

What are the benefits of the RICE framework?

The main benefits of the RICE prioritization framework are:

• Data-driven evaluation — RICE encourages you to rely on data and evidence to make decisions, thus reducing biases and prioritizing objectively impactful ideas and initiatives.
• More effective time and resource allocation — RICE prevents you from pursuing low-impact initiatives that only waste time and resources and instead encourages you to invest them in more advantageous projects.
• Higher level of customer centricity — RICE puts more attention on customer reach and impact, favoring projects that benefit the customers and meet their wants and needs.
• Transparent prioritization — the RICE score clearly shows team members which ideas are worth pursuing and why, thus building trust and aligning the team around a common goal.
• Versatility — RICE can be adapted to fit many different contexts, industries, and businesses.

What are the drawbacks of the RICE framework?

The main drawbacks of the RICE scoring model are:

• Potential inaccuracy and inconsistency — RICE calculations can be inaccurate or inconsistent if you’re working with old data or are just guesstimating because there’s no accurate data to rely on.
• Complexity — RICE can be difficult to implement due to the amount of data and analysis necessary to complete each project, especially if the projects are complex.
• Subjectivity — though RICE encourages objectivity, certain factors, such as Impact and Reach, can succumb to subjectivity unless a number of stakeholders are involved in the estimation process. 
• Disregarding tech debt — since RICE prioritizes projects based on their user reach and impact, it may make the team overlook improvements that don’t have an immediate impact on the customers but could benefit the product development process in the long run.
• Project interdependencies — certain projects must be prioritized due to their interdependencies, so their RICE scores may not be the only prioritizing factors the project team has to use.

What are the best practices for using the RICE model?

Some best practices for using the RICE framework for prioritization include:

• Defining the scoring criteria beforehand and using them consistently,
• Focusing on a single goal rather than multiple objectives when calculating the RICE scores,
• Taking into account resource and time dependencies between different project ideas when evaluating Effort,
• Getting objective feedback by involving stakeholders in the process,
• Involving the team in the decision-making process , especially when 2 or more projects have similar RICE scores,
• Regularly updating the scores (and consequently, the priority of your ideas) whenever new data is available,
• Using both quantitative and qualitative analysis for precision, and
• Leaving some margin for error, as estimates are almost never 100% accurate.

According to Karol Kłaczyński , Scrum Product Owner, Scrum Master, and Head of Product at Brand24, objectivity should be the focus here:

“To me, the key to successfully using the RICE framework is to be as objective as possible when scoring each component — Reach, Impact, Confidence, and Effort. It’s crucial to involve cross-functional teams in the scoring process to get diverse perspectives. This ensures that you’re not just looking at things from a product-centric viewpoint but also considering marketing, sales, and customer success angles.”

Remember, though, that tradeoffs are always a possibility. 

While using RICE, you may have to work out of order whenever the situation calls for it — or when you need a quick win. 

That said, constantly ignoring the results will get you nowhere. As Jan Schiller , Partner and Chief Project Officer at Berkshire Consulting LLC, puts it:

“RICE (Reach, Impact, Confidence, Effort) is best used when the organization will live by the results. Organizations will invest time and money into prioritizing effectively; a return on that investment is only realized if the organization will perform in alignment with the priorities — an expectation is more powerful than prioritization.”

What are some alternatives to the RICE prioritization method?

Some widely used alternatives to the RICE scoring framework include:

• The Eisenhower Matrix — a prioritization tool that organizes initiatives by urgency and importance, categorizing them into 4 quadrants: Do, Decide, Delegate, and Eliminate. 
• ICE method — a framework similar to RICE that prioritizes projects based on their numerical value while considering 3 factors: Impact, Confidence, and Ease.
• Kano Model — a scoring model that assesses initiatives by comparing how likely they are to satisfy customers against the costs of their implementation. 
• MoSCoW analysis — a prioritization method that organizes ideas into 4 categories: must-have, should-have, could-have, and won’t-have. 
• Weighted Shortest Job First (WSJF) — a tool that prioritizes initiatives with the highest economic impact and the shortest completion period. 
• Value vs effort matrix — a prioritization technique that weighs initiatives by considering their potential value and how much effort it would take to complete them.
• Opportunity scoring — a prioritization method that considers ideas customers believe are important but currently disappointing. 
• Weighted scoring — a numerical scoring model that objectively prioritizes ideas or actions based on a set of criteria and their assigned weight values.

All of these methods come with certain pros and cons, so there’s no telling which one is truly the best.

When discussing RICE alternatives, one of our experts, Jan Schiller, explained which prioritization frameworks work the best for her:

“In general, I favor prioritization frameworks that do not include ease or effort (at least, not initially) because the organization may then prioritize the easiest and/or smallest efforts before the most important and valuable efforts. An organization’s capacity to perform the project should also be taken into consideration; hopefully, the organization considered their capacity before launching a project.”

What is the difference between RICE and WSJF?

The main difference between RICE and WSJF (Weighted Shortest Job First) is that RICE focuses more on impact, while WSJF emphasizes economic value .

The WSJF prioritization method sequences tasks, projects, ideas, and similar based on maximum economic benefit. Thus, it uses different parameters than RICE, such as:

• Cost of delay (CoD) — the money you lose by delaying the completion of a job, and
• Job duration or size (JST) — estimated time needed to complete a job or the job’s size if you don’t know how long the job will take.

The WSJF formula is straightforward — CoD/JST. However, the method is more complex to apply than RICE as CoD is a sum of 3 different estimates:

• Business or user value,
• Time criticality, and
• Risk reduction and/or opportunity enablement.

What is the difference between the ICE and RICE frameworks?

The main difference between the RICE prioritization process and the ICE scoring model is that RICE takes Reach and Effort into account, while ICE forgoes Reach and considers Ease instead of Effort .

Both methods serve to prioritize ideas. However, the formula for the ICE method — Impact x Confidence x Ease — is easier to calculate, making it less time-consuming to implement. 

That said, since Reach is not considered, the ICE framework doesn’t accurately show how valuable your project ideas are. ICE scoring is less data-driven and more prone to subjectivity than RICE, given that its 3 factors can easily be only guesstimates. 

Conclusion: Use the RICE framework for more realistic idea prioritization

Though it comes with certain caveats, the RICE framework supports better decision-making and enables project teams to confidently prioritize ideas based on both data and their own insights.

As long as you strive to use real data as much as possible when estimating the 4 RICE factors, the framework should enable more accurate idea prioritization, and consequently, better focus on initiatives that truly make a difference for your business. 

If you are looking for a tool to help you implement the RICE framework into your project management, Plaky is the right tool for you! In Plaky, you have a clear overview of the RICE scores in Table view. Moreover, you can prioritize your projects according to the RICE scores. Sign up for a free Plaky account today and prioritize with ease!

Tamara is a project management author and researcher who enjoys sharing her knowledge and tips on everything you may want to know about project management. Having spent years writing content on a variety of topics, she recognized how passionate she was about this niche — and decided to pursue it full-time.

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Field description and tips to complete, project details and document control.

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Here is a free business plan sample for a fruit and vegetable store.

Have you ever envisioned owning a bustling fruit and vegetable market that serves as a cornerstone of health in your community? Wondering where to start?

Look no further, as we're about to guide you through a comprehensive business plan tailored for a fruit and vegetable market.

Creating a solid business plan is crucial for any aspiring entrepreneur. It serves as a roadmap, outlining your vision, objectives, and the strategies you'll employ to turn your fresh produce venture into a thriving business.

To jumpstart your planning process with ease and precision, feel free to utilize our fruit and vegetable market business plan template. Our team of experts is also on standby to provide a free review and fine-tuning of your plan.

How to draft a great business plan for your fruit and vegetable store?

A good business plan for a fruit and vegetable market must cater to the unique aspects of this type of retail business.

Initially, it's crucial to provide a comprehensive overview of the market landscape. This includes up-to-date statistics and an exploration of emerging trends within the industry, similar to what we've incorporated in our fruit and vegetable market business plan template .

Your business plan should articulate your vision clearly. Define your target demographic (such as local residents, restaurants, or health-conscious consumers) and establish your market's distinctive features (like offering organic produce, exotic fruits, or locally-sourced vegetables).

Market analysis is the next critical component. This requires a thorough examination of local competitors, market dynamics, and consumer buying patterns.

For a fruit and vegetable market, it's imperative to detail the range of products you intend to sell. Describe your selection of fruits, vegetables, herbs, and any additional items you plan to offer, and discuss how these choices align with the preferences and needs of your customer base.

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Given the nature of a fruit and vegetable market, it is vital to highlight the freshness and quality of your produce, your relationships with growers and suppliers, and adherence to health and safety standards.

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The financial section is another cornerstone of your business plan. It should encompass the initial investment, projected sales, operating expenses, and the point at which you expect to break even.

With a fruit and vegetable market, managing waste and understanding the shelf life of products are critical, so precise planning and knowledge of your financials are essential. For assistance, consider using our financial forecast for a fruit and vegetable market .

Compared to other business plans, a fruit and vegetable market plan must pay closer attention to the perishability of inventory, the importance of a robust supply chain, and the potential for seasonal fluctuations.

A well-crafted business plan not only helps you to define your strategies and vision but also plays a pivotal role in attracting investors or securing loans.

Lenders and investors are keen on a solid market analysis, realistic financial projections, and a comprehensive understanding of the day-to-day operations of a fruit and vegetable market.

By presenting a thorough and substantiated plan, you showcase your dedication and readiness for the success of your venture.

To achieve these goals while saving time, you are welcome to fill out our fruit and vegetable market business plan template .

A free example of business plan for a fruit and vegetable store

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for a fruit and vegetable market .

Here, we will follow the same structure as in our business plan template.

Market Opportunity

Market data and figures.

The fruit and vegetable market is an essential and robust component of the global food industry.

Recent estimates value the global fruit and vegetable trade at over 1 trillion dollars, with expectations for continued growth as consumers seek healthier eating options. In the United States, the fruit and vegetable industry contributes significantly to the economy, with thousands of markets and stores providing a wide range of produce to meet consumer demand.

These statistics underscore the critical role that fruit and vegetable markets play in not only providing nutritious food options but also in supporting local agriculture and economies.

Current trends in the fruit and vegetable industry indicate a shift towards organic and locally sourced produce, as consumers become more health-conscious and environmentally aware.

There is an increasing demand for organic fruits and vegetables, driven by the perception of better quality and concerns about pesticides and other chemicals. The local food movement is also gaining momentum, with consumers showing a preference for produce that is grown locally to support community farmers and reduce carbon emissions associated with transportation.

Technological advancements are influencing the industry as well, with innovations in vertical farming and hydroponics allowing for more sustainable and space-efficient growing methods.

Online grocery shopping and delivery services are expanding, making it easier for consumers to access fresh produce directly from their homes.

Additionally, the push for transparency in food sourcing continues to grow, with consumers wanting to know more about where their food comes from and how it is grown.

These trends are shaping the future of the fruit and vegetable market, as businesses strive to meet the evolving preferences and values of modern consumers.

Success Factors

Several key factors contribute to the success of a fruit and vegetable market.

Quality and freshness of produce are paramount. Markets that offer a wide variety of fresh, high-quality fruits and vegetables are more likely to build and maintain a dedicated customer base.

Diversity in product offerings, including exotic or hard-to-find produce, can differentiate a market from its competitors.

Location is also vital, as markets that are easily accessible to consumers will naturally attract more foot traffic.

Customer service is another important aspect, with knowledgeable and friendly staff enhancing the shopping experience and encouraging repeat visits.

Effective cost management and the ability to adapt to changing consumer trends, such as the demand for organic and locally grown produce, are crucial for the long-term viability of a fruit and vegetable market.

The Project

Project presentation.

Our fruit and vegetable market project is designed to cater to the increasing consumer demand for fresh, organic, and locally-sourced produce. Situated in a community-focused neighborhood, our market will offer a diverse selection of fruits and vegetables, emphasizing seasonal and organic options. We will partner with local farmers and suppliers to ensure that our customers have access to the freshest produce available, supporting sustainable agricultural practices and reducing our carbon footprint.

We aim to provide not just produce, but a holistic healthy eating experience by offering a range of complementary products such as herbs, spices, and artisanal condiments. Our market will be a hub for health-conscious consumers and those interested in cooking with the finest ingredients.

Our fruit and vegetable market is set to become a cornerstone in the community, promoting healthier lifestyles and fostering connections between local producers and consumers.

Value Proposition

The value proposition of our fruit and vegetable market lies in our commitment to providing the community with the highest quality fresh produce. We understand the importance of nutrition and the role that fruits and vegetables play in maintaining a healthy diet.

Our market will offer a unique shopping experience where customers can enjoy a wide variety of produce, learn about the benefits of incorporating more fruits and vegetables into their diets, and discover new and exotic varieties. We are dedicated to creating a welcoming environment where everyone can find something to enrich their meals and support their well-being.

By focusing on local and organic sourcing, we also contribute to the sustainability of our food systems and the prosperity of local farmers, aligning our business with the values of environmental stewardship and community support.

Project Owner

The project owner is an individual with a profound passion for healthy living and community engagement. With a background in agricultural studies and experience in the food retail industry, they are well-equipped to establish a market that prioritizes quality and freshness.

They bring a wealth of knowledge about the seasonality and sourcing of produce, and are committed to creating a marketplace that reflects the diversity and richness of nature's offerings. Their dedication to health, nutrition, and sustainability drives them to build a market that not only sells fruits and vegetables but also educates and inspires the community to embrace a healthier, more sustainable lifestyle.

Their vision is to create a space where the joy of fresh, wholesome food is accessible to all, and where the market serves as a vibrant gathering place for people to connect with their food and each other.

The Market Study

Market segments.

The market segments for this fruit and vegetable market are diverse and cater to a wide range of consumers.

Firstly, there are health-conscious individuals who prioritize fresh, organic produce in their diets for wellness and nutritional benefits.

Secondly, the market serves customers who are looking for locally-sourced and seasonal produce to support community farmers and reduce their carbon footprint.

Additionally, the market attracts individuals with specific dietary needs, such as vegans, vegetarians, and those with food sensitivities who require a variety of fresh produce options.

Culinary professionals, including chefs and caterers, represent another segment, seeking high-quality ingredients to enhance their dishes.

SWOT Analysis

A SWOT analysis of the fruit and vegetable market project highlights several key factors.

Strengths include a strong focus on fresh, high-quality produce, relationships with local farmers, and a commitment to sustainability and eco-friendly practices.

Weaknesses might involve the perishable nature of inventory, the need for constant supply chain management, and potential seasonal fluctuations in product availability.

Opportunities exist in expanding the market's reach through online sales and delivery services, as well as in educating consumers about the benefits of eating fresh and local produce.

Threats could include competition from larger grocery chains with more buying power, adverse weather affecting crop yields, and potential economic downturns reducing consumer spending on premium produce.

Competitor Analysis

Competitor analysis in the fruit and vegetable market sector indicates a varied landscape.

Direct competitors include other local markets, organic food stores, and large supermarkets with extensive produce sections.

These competitors vie for customers who value convenience, variety, and price.

Potential competitive advantages for our market include superior product freshness, strong community ties, exceptional customer service, and a focus on sustainable and ethical sourcing.

Understanding the strengths and weaknesses of these competitors is crucial for carving out a niche and ensuring customer loyalty.

Competitive Advantages

Our fruit and vegetable market's dedication to offering the freshest and highest quality produce sets us apart from the competition.

We provide a wide array of fruits and vegetables, including rare and exotic items, to cater to the diverse tastes and needs of our customers.

Our commitment to sustainability, through supporting local farmers and minimizing waste, resonates with environmentally conscious consumers.

We also emphasize transparency and education about the source and benefits of our produce, fostering a trusting relationship with our clientele.

You can also read our articles about: - how to open a fruit and vegetable store: a complete guide - the customer segments of a fruit and vegetable store - the competition study for a fruit and vegetable store

The Strategy

Development plan.

Our three-year development plan for the fresh fruit and vegetable market is designed to promote healthy living within the community.

In the first year, our goal is to establish a strong local presence by sourcing a wide variety of high-quality, seasonal produce and building relationships with local farmers and suppliers.

The second year will focus on expanding our reach by setting up additional market locations and possibly introducing mobile market services to access a broader customer base.

In the third year, we plan to diversify our offerings by including organic and exotic fruits and vegetables, as well as implementing educational programs on nutrition and sustainable agriculture.

Throughout this period, we will be committed to sustainability, community engagement, and providing exceptional service to ensure we become a staple in our customers' healthy lifestyles.

Business Model Canvas

The Business Model Canvas for our fruit and vegetable market targets health-conscious consumers and those looking for fresh, local produce.

Our value proposition is centered on offering the freshest, high-quality fruits and vegetables, with a focus on local and organic options, and providing exceptional customer service.

We will sell our products through our physical market locations and consider an online ordering system for customer convenience, utilizing our key resources such as our relationships with local farmers and our knowledgeable staff.

Key activities include sourcing and curating produce, maintaining quality control, and engaging with the community.

Our revenue streams will be generated from the sales of produce, while our costs will be associated with procurement, operations, and marketing efforts.

Access a complete and editable real Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is centered on community engagement and education.

We aim to highlight the health benefits of fresh produce and the environmental advantages of buying locally. Our approach includes community events, cooking demonstrations, and partnerships with local health and wellness organizations.

We will also leverage social media to showcase our daily offerings, share tips on healthy eating, and feature stories from our partner farmers.

Additionally, we plan to offer loyalty programs and seasonal promotions to encourage repeat business and attract new customers.

Risk Policy

The risk policy for our fruit and vegetable market focuses on mitigating risks associated with perishable goods, supply chain management, and market fluctuations.

We will implement strict quality control measures and develop a robust inventory management system to minimize waste and ensure product freshness.

Building strong relationships with a diverse group of suppliers will help us manage supply risks and price volatility.

We will also maintain a conservative financial strategy to manage operational costs effectively and ensure business sustainability.

Insurance coverage will be in place to protect against unforeseen events that could impact our business operations.

Why Our Project is Viable

We believe in the viability of a fruit and vegetable market that prioritizes freshness, quality, and community health.

With a growing trend towards healthy eating and local sourcing, our market is well-positioned to meet consumer demand.

We are committed to creating a shopping experience that supports local agriculture and provides educational value to our customers.

Adaptable to market trends and customer feedback, we are excited about the potential of our fruit and vegetable market to become a cornerstone of healthy living in our community.

You can also read our articles about: - the Business Model Canvas of a fruit and vegetable store - the marketing strategy for a fruit and vegetable store

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for a fruit and vegetable market and our financial plan for a fruit and vegetable market .

Initial expenses for our fruit and vegetable market include costs for securing a retail space in a high-traffic area, purchasing refrigeration units and display equipment to maintain and showcase fresh produce, obtaining necessary permits and licenses, investing in a robust inventory management system, and launching marketing initiatives to attract customers to our location.

Our revenue assumptions are based on an in-depth analysis of the local market demand for fresh, high-quality fruits and vegetables, taking into account the increasing trend towards healthy eating and organic produce.

We expect sales to grow steadily as we establish our market's reputation for offering a wide variety of fresh and locally sourced produce.

The projected income statement outlines expected revenues from the sale of fruits and vegetables, cost of goods sold (including procurement, transportation, and storage), and operating expenses (rent, marketing, salaries, utilities, etc.).

This results in a forecasted net profit that is essential for assessing the long-term viability of our fruit and vegetable market.

The projected balance sheet will reflect assets such as refrigeration and display equipment, inventory of fresh produce, and liabilities including any loans and operational expenses.

It will provide a snapshot of the financial condition of our market at the end of each fiscal period.

Our projected cash flow statement will detail all cash inflows from sales and outflows for expenses, helping us to predict our financial needs and ensure we have sufficient funds to operate smoothly.

The projected financing plan will outline the sources of funding we intend to tap into to cover our initial setup costs and any additional financing needs.

The working capital requirement for our market will be carefully managed to maintain adequate liquidity for day-to-day operations, such as purchasing fresh stock, managing inventory, and covering staff wages.

The break-even analysis will determine the volume of sales we need to achieve to cover all our costs and begin generating a profit, marking the point at which our market becomes financially sustainable.

Key performance indicators we will monitor include the turnover rate of our inventory, the gross margin on produce sales, the current ratio to evaluate our ability to meet short-term obligations, and the return on investment to gauge the profitability of the capital invested in our market.

These metrics will be instrumental in assessing the financial performance and overall success of our fruit and vegetable market.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a fruit and vegetable store .

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How do I do a MoSCoW analysis?

A MoSCoW analysis is a useful method for agreeing what is important when releasing a new product or service.

First things first, MoSCoW stands for M ust, S hould, C ould and W ill not.

When you are running a project to deliver something new, you need to manage what features are the most important. If you do not manage prioritization, scope creep will happen and the project will inevitably run over time and over budget.

To avoid this you should agree which features are the most important and which can either wait for another day or you can discard. This is when you can use a MOSCOW analysis.

General tips for completing a MoSCoW analysis

1. Agree the criteria and definition before you begin. 2. Always keep an eye on costs and budget – this will help focus decisions. 3. Limit the amount of people in any debate. More voices usually means less agreement, not more. 4. List out the MoSCoW results by department/team. This will stop one area being too dominant.

Must Have features

This is actually one of the easier areas to agree on but you must set the rules out very clearly. Must have features should fit into one of the following categories only;

Regulatory – without these features you will not be compliant.

Legal – any element which makes sure that your legal team are happy to sign off and does not put you at risk.

Core – without core features the project will not deliver what it was supposed to deliver.

Should Have features

Deciding which are must have and which are should have is simple for regulatory or legal as it is usually a yes or no. Core features can be more of a debate as decisions get more subjective. Agree the definition before the discussion. Also get an idea of how many should haves can be delivered as just because they are not in the must category does not mean they won’t be delivered on Day one.

Could Have features

This is often the hardest debate when producing a MoSCoW analysis. Many could features will not make it to the first release. Be pragmatic and always consider the project as a whole. Especially the finances.

Will Not Have features

Like the Must Haves, this area tends to be easier. If it costs too much or delivers very little then remove it. If the effort is too much, then remove it from scope.

Are you short on time?

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Created : 2021-11-22 12:18:46 Modified : 2021-12-18 14:36:10