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How to: Business Plan Gastronomy.

Sebuyo
21.09.2017
Tips & Tricks
How to: Business Plan Gastronomy

If you want to set up a hotel and restaurant business, you need to be perfectly prepared in order to get off to a successful start. The business idea should be examined step by step in terms of its feasibility and economic potential by drawing up a business plan. This is a structured overview of the entrepreneurial project, which can provide orientation for both the founder and potential business partners and investors.

These 12 steps do not only help you to write a business plan. When creating such a plan, one of the goals is to seriously think about each of these steps. This helps detecting problems or deficiencies already in the planning phase and thus enables you to make the right decisions or adaptations at an early stage.


Step 1: Business idea

First, the core of the business idea is briefly and precisely summarized. It is important to list all the relevant facts and then to carry out the project in more detail. This brief presentation should be as convincing as possible and highlight unique selling propositions in order to set you apart from your competitors.

Step 2: Founder

At this point, the founders introduce themselves. In addition to providing contact details, it is also important to state the personal suitability for the company. To this end, professional qualifications such as basic and advanc

At this point, the founders introduce themselves. In addition to providing contact details, it is also important to state the personal suitability for the company. To this end, professional qualifications such as basic and advanced training ed training and practical experience should be listed first. In addition, personal skills such as leadership qualities should be mentioned. If certain skills or knowledge are insufficient, it is useful to explain how these gaps are to be compensated. In addition, it should be reflected upon how the founders intend to deal with the risks of self-employment. It is imperative to present goals and strategies. Not to be forgotten are the current professional and financial situation as well as possible health restrictions.

Step 3: Target group

This is where the target group should be defined. It is important because the design of the product and the success of the company depend on it.

Step 4: Market and competitors

Here it is important to present industry knowledge and thus to prove to potential investors and partners that you know your way around and that you recognize your field of activity as well as the potential of the industry.

In order to develop a meaningful strategy, it is essential to know the competitors including their business models and methods. The business plan must assess to what extent other market participants may be a source of competition. In order to adequately assess the market situation, one's own strengths and weaknesses have to be identified. From this, it can be deduced whether it makes sense to enter the market as an additional player.

Step 5: Location

Before the establishment of a hotel and restaurant business, the location must be thoroughly analysed in terms of its suitability. The analysis must, above all, take account of accessibility. This includes the connection to public transport and the availability of parking spaces. Another question arises as to whether the target group will be present at the chosen location at all.

Step 6: Company

Now the main features of the company are to be presented. These include, among other things, the name, mode of operation and legal form. Here you can also present a property that has already been selected with regard to its suitability for the company.

The company also needs a structured supply and personnel planning system. In order to be able to carry out the latter, it is necessary to analyse the tasks and processes to be completed.

Step 7: Risk Analysis

The founder must be aware of all risks and must develop strategies to reduce them. It is recommended that you develop a plan B to be prepared if unforeseen events occur. Insurance policies can be taken out to minimize certain risks such as loss of earnings.

Step 8: Financial planning

In order to attract investors and financiers, all costs to be covered must be listed in detail. This includes not only business costs but also private costs such as rent and insurance.

First of all, it is necessary to identify one's own financial resources, including saved assets and relatives providing money. The capital requirement is calculated on the basis of all expected expenditure in the coming years. These include, among other things, the investments to be made to launch the company in the first place.

The liquidity plan includes all expected, incoming and outgoing cash flows. This ensures the solvency of the company. This plan should cover a period of about three years. It must be determined which turnover is expected and how much money is needed to cover all costs. This serves a future comparison of the real figures with the forecasted values and should draw attention to any undesirable developments.

Step 9: Legal requirements

The business plan should include a list of required permits and regulations to be followed. These must be strictly taken into account when planning.

Step 10: Pricing and Marketing

Based on previous considerations like about the target group, a price strategy has to be developed. In order to increase the publicity of the restaurant business, it is necessary to develop a marketing strategy with concrete measures and to plan financial resources for it. It is a good idea to base marketing on the previously defined unique selling propositions.

Step 11: Schedule

At this point, it is important to define concrete goals for specific periods of time and the desired company development.

Step 12: Appendix

The business plan must be accompanied by certificates, proof of credentials, a curriculum vitae, all previously signed contracts, a completed self-assessment form and a SCHUFA report.


Further articles on the topics of founding companies, searching for a location, equipment, contracts etc. are available in our Sebuyo Guide in the category "Tips & Tricks".

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