business plan for bar and restaurant

How to Write a Restaurant Business Plan (+ Examples)

Learn how to create a restaurant business plan with the best format that outlines your concept, and financials. Get examples and templates to get started.

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Short answer

What is a business plan for a restaurant?

A business plan for a restaurant is a document that outlines the restaurant's concept, strategies, and financial forecasts. It serves as a roadmap for launching and growing the establishment successfully.

Don't just focus on profit margins, ensure your business plan is well-presented

In the competitive world of the restaurant industry, where low-profit margins are a well-known hurdle, there emerges a critical, yet often overlooked, factor pivotal to success: the design of the business plan.

As we enter 2024, it's becoming increasingly clear that the traditional overlook of business plan design can no longer be afforded.

This isn't just about financial projections or market analysis; it's about crafting a blueprint that encapsulates the essence of your restaurant, compellingly communicates its value, and sets a solid foundation for growth.

By focusing on the design of your business plan, you stand to gain not just the attention of potential investors but also a clearer roadmap to navigate the challenges ahead.

What makes an effective business plan?

Embarking on the restaurant business journey requires more than just a passion for food-it demands a comprehensive plan that lays out every aspect of your venture with precision and foresight.

Let's delve into what constitutes an effective restaurant business plan, ensuring it's not just another document, but a roadmap to success.

6 key components of a winning restaurant business plan:

1. Vision and concept clarity

Start with a crystal-clear articulation of your restaurant's concept. Whether it's a cozy vegan cafe or a high-end steakhouse, the essence of your establishment should leap off the page.

This clarity helps potential investors and partners instantly grasp what you're aiming to create.

Beyond the concept, delineate your restaurant's values, mission, and the unique selling points that set you apart in a crowded market.

2. Comprehensive market analysis

A deep dive into market analysis cannot be overstated. Here, you're not just identifying who your customers are but also understanding the competitive landscape.

What are the prevailing trends in the dining sector? Who are your direct and indirect competitors, and how do you plan to differentiate yourself? This section should reflect a meticulous research process, showcasing insights that guide your strategy.

3. Robust financial planning

In any successful business plan, sound financial management is key.

Essential elements include:

Realistic financial projections: Your forecasts should be realistic, and built on data-backed assumptions.

Detailed profit and loss forecasts

Cash flow predictions

Break-even analysis

Contingency planning: Preparing for unforeseen challenges is crucial.

Develop a well-thought-out contingency plan to navigate the industry's unpredictable nature.

Identify potential risks and solutions, including supplier issues, staffing shortages, and changes in consumer behavior, to ensure business resilience.

4. Operational strategies

Operational excellence underpins a restaurant's success. Detail your plans for day-to-day operations, from sourcing ingredients to managing inventory and staffing.

Highlight your commitment to quality and efficiency in every aspect of the operation, from the kitchen to customer service.

Also, outline the technology, such as restaurant POS systems you'll implement to streamline processes and enhance the dining experience.

5. Marketing and branding

In today's digital age, a savvy marketing and branding strategy is crucial.

Describe how you'll create a strong brand identity and the channels you'll use to reach your target audience.

From social media campaigns to community engagement initiatives, your plan should reflect a keen understanding of how to connect with potential customers and build a loyal following.

Discover how to create a marketing deck to align your strategy with your business objectives, target audience needs, and market trends.

6. Customer experience focus

Exceptional customer service is the lifeblood of any successful restaurant. Detail the steps you'll take to ensure every guest feels valued and satisfied.

From the ambiance and menu design to staff training programs, every element should contribute to a memorable dining experience.

Feedback mechanisms and how you'll adapt to customer preferences are also vital components of this section.

What should be included in a restaurant business plan?

Creating a restaurant business plan is a foundational step toward launching a successful dining establishment.

It outlines your vision, strategy, and the specific actions you plan to take to make your restaurant a success.

Below, we break down the essential components that should be included in your restaurant business plan, ensuring clarity, comprehensiveness, and appeal to potential investors.

8 essential sections of a restaurant business plan:

1. Executive summary

A compelling overview of the restaurant, showcasing its unique concept, mission, and strategic objectives that guide its operations.

Overview: Present a succinct snapshot of your restaurant, including its concept, mission, key goals, and ownership structure.

Purpose: Highlight what you aim to achieve with the restaurant and the appeal it has to potential investors or lenders.

2. Business description

An in-depth look at the restaurant's theme, location, and how these elements combine to create a distinctive dining experience.

Concept and theme: Describe the unique aspects of your restaurant's concept, from the cuisine and menu items to the design and ambiance.

Location analysis: Analyze the chosen location, discussing demographics, foot traffic, and how these factors make it an ideal spot for your target market.

3. Market analysis

An insightful examination of dining trends, target demographics, and customer needs to inform strategic positioning.

Trends: Examine current trends in the dining industry and how they influence your restaurant's positioning.

Target demographic: Identify your target customers, detailing their preferences, dining habits, and how your restaurant will meet their needs.

Needs and preferences: Focus on understanding and catering to what your target market seeks in a dining experience.

4. Competitive analysis

A detailed evaluation of competitors, focusing on differentiation and strategies for establishing a market edge.

Competitors: List direct and indirect competitors, analyzing their strengths, weaknesses, and how you'll differentiate your restaurant.

Differentiation: Explain the unique selling points that will set your restaurant apart in the competitive landscape.

5. Menu and product offering

Overview of menu design, ingredient sourcing, and special services that enhance the restaurant's appeal.

Menu design: Discuss the inspiration behind your menu, including how it reflects the theme and caters to your target demographic. Outline your pricing strategy and item selection.

Sourcing and suppliers: Detail your approach to sourcing high-quality ingredients, including partnerships with local suppliers and commitments to sustainability.

Special offerings: Highlight any additional services your restaurant offers, such as catering, special events, or exclusive seasonal menus, to draw in a wider audience and generate extra revenue.

6. Marketing and sales strategy

A summary of branding efforts, promotional tactics, and sales projections designed to attract and retain customers.

Branding: Detail your restaurant's brand identity, including name, logo, and how it communicates your restaurant's values and mission.

Marketing tactics: Outline the strategies you will employ to attract and retain customers, such as social media marketing, local advertising, partnerships, and loyalty programs.

Sales forecasts: Provide realistic sales forecasts, explaining the rationale behind these projections and how you plan to achieve them.

7. Operating plan

Description of daily operations, facility management, and health safety protocols to ensure smooth and compliant restaurant functionality.

Daily operations: Describe the operational flow of the restaurant, including hours of operation, staffing requirements, and customer service policies.

Facility management: Discuss the layout and design of your restaurant, kitchen equipment needs, and any other facility-related details that will ensure efficient operation.

Health and safety: Outline the health and safety measures you will implement to comply with local regulations and ensure the well-being of both employees and guests.

8. Management and organization

An outline of the restaurant's organizational structure, key personnel, and staffing strategies for operational excellence.

Ownership structure: Specify the ownership structure of the restaurant, including key stakeholders and their roles.

Team composition: Introduce the management team, chefs, and other critical staff, highlighting their experience and how it contributes to the restaurant's success.

Staffing plans: Discuss your plans for hiring staff, including numbers, positions, and the qualities you seek in employees to maintain high standards of service.

How to create a business plan for a restaurant?

Creating a standout business plan for your restaurant involves focusing on key components that blend your vision with practical strategies.

6 actionable steps to distill your restaurant business plan:

Define your concept clearly: Begin by articulating your restaurant's concept, ambiance, and what sets it apart. This clarity lays the groundwork for the entire business plan.

Conduct thorough market analysis: Dive deep into your target market and competitors. This research will guide your menu design, pricing strategy, and marketing efforts, ensuring you carve out a unique space in the marketplace.

Craft a compelling menu: Ensure your menu reflects your brand identity and appeals to your target audience, all while considering cost-effectiveness and supply chain realities. Aim for a balance between innovation and simplicity.

Develop realistic financial projections: Detail initial costs, revenue expectations, and a break-even point. Importantly, predict potential hurdles with ready contingency plans.

Outline operational strategies: Describe your daily management approach, including sourcing, staffing, and customer service. Efficient operations are crucial for a seamless experience and streamlined processes.

Implement strategic marketing: Choose the most effective ways to connect with your audience. Building a strong brand narrative and engaging actively with customers can help turn first-time visitors into regulars.

7 restaurant business plan examples for winning partners and investors

When it comes to crafting a business plan for a restaurant, the type of establishment you're planning significantly influences the structure and content of the document.

Each kind of restaurant from fast-casual and fine dining to food trucks and bistros-caters to different market segments and operational models.

Here's a look at how these differences manifest in their respective business plans:

1) Fine dining restaurant business plan

Market focus: Targets higher-income clientele seeking a premium dining experience. The plan should highlight exceptional service, high-quality ingredients, and unique culinary offerings.

Operational model: Detailed attention to the ambiance, chef expertise, and a higher staff-to-guest ratio. Wine lists and bar offerings also play a significant role.

Financial projections: Emphasizes higher check averages with a focus on profitability per guest rather than volume. The cost structure will detail higher initial investment in decor, kitchen equipment, and inventory.

Here’s an example of a fine-dining restaurant business plan:

2) Bar restaurant business plan

Market focus: Targets a diverse clientele, from young professionals to social groups, seeking a blend of dining and socializing.

Operational model: Balances innovative cuisine with an extensive beverage selection in a space designed for both eating and lounging, including live entertainment options.

Financial projections: Outlines dual revenue streams from food and drinks, emphasizing beverage sales' higher profit margins and detailing licensing, entertainment, and insurance costs.

Here’s an example of a bar restaurant pitch deck:

3) Bistro restaurant business plan

Market focus: Caters to locals and tourists seeking a casual yet refined dining experience, positioning itself as a cozy neighborhood spot.

Operational model: Highlights a selective menu that adapts seasonally, emphasizing a warm ambiance and personal service.

Financial projections: Projects moderate earnings with a strong local following, noting initial investments in location and ambiance to create a distinctive setting.

Here’s an example of a bistro restaurant pitch deck:

4) Food truck business plan

Market focus: Appeals to urban professionals, millennials, and foodies looking for unique, high-quality food options on the go.

Operational model: Mobility is key. The plan must address location strategy, permits and regulations, and adaptability to different events and seasons.

Financial projections: Lower startup costs compared to brick-and-mortar establishments but include considerations for vehicle maintenance, fuel, and parking permits.

5) Coffee restaurant business plan

Market focus: Appeals to a varied audience with a unique theme or specialty cuisine, standing out from conventional coffee shops.

Operational model: Details the influence of theme or cuisine on menu design, decor, and guest experience, aiming to make the restaurant a destination.

Financial projections: Anticipates varied financial outcomes based on concept uniqueness, with thorough market research guiding pricing and marketing strategies.

6) Italian, Mexican, Asian, etc., cuisine restaurant business plan

Market focus: Focuses on providing authentic dining experiences to both expatriates and locals interested in specific cuisines.

Operational model: Requires sourcing authentic ingredients and skilled chefs familiar with the cuisine. The business plan should address menu authenticity, culinary training, and potential partnerships for ingredient import.

Financial projections: Depending on the positioning (casual vs. fine dining), financials would reflect the cost of unique ingredients and the expected dining experience level.

Here’s an example of an Italian restaurant business plan proposal:

7) Fast food restaurant business plan

Market focus: These plans emphasize speed, efficiency, and affordability. The target market typically includes busy professionals, families looking for convenient meal options, and younger demographics.

Operational model: The business plan must detail quick service operations, including streamlined kitchen layouts, supply chain logistics for fast-moving inventory, and technology for order taking (e.g., apps, and kiosks).

Financial projections: Focus on volume sales, low to moderate check averages, and strategies for high turnover rates.

How to design a restaurant business plan?

Designing a restaurant business plan is much like crafting a compelling game pitch deck, it's all about presenting your concept in a way that's as irresistible as the dining experience you're proposing.

8 restaurant business plan design tips:

1. Embrace scrollytelling

Use narrative scrolling to take your audience through the journey of your restaurant's concept, from the inspiration behind your dishes to the ambiance you plan to create.

This dynamic presentation style keeps readers engaged, turning your business plan into an immersive experience.

Here's an example of scroll-based design:

2. Incorporate interactivity and multimedia

Go beyond static pages by embedding interactive elements like sample menu walkthroughs, virtual tours of the restaurant layout, or clips from cooking demos.

These elements not only highlight your restaurant's unique offerings but also keep potential investors or partners engaged throughout your presentation.

And here's what a static presentation looks like compared to an interactive one:

Static PowerPoint

Interactive Storydoc

3. Use data visualization

Present market research, target demographics, and financial projections through clear, compelling visuals.

Transform complex data into easy-to-understand graphs, charts, and infographics, making your business strategy both visually appealing and straightforward to grasp.

Here's an example of a presentation with dataviz elements:

4. Personalize your deck

Leverage software that allows for customization, such as incorporating the viewer's name or tailoring content to specific investor interests.

A personalized approach demonstrates meticulous attention to detail and can forge a stronger connection with your audience.

5. Use cohesive branding

Ensure your business plan reflects your restaurant's identity through consistent use of colors, fonts, and imagery that align with your branding.

This not only enhances the visual appeal of your plan but also immerses your audience in the atmosphere you aim to create.

6. Ensure mobile-responsive

Given the variety of devices stakeholders might use to view your plan, ensuring a mobile-responsive design is essential.

This ensures that your business plan is accessible and engaging, whether it's being viewed on a smartphone or a desktop computer.

7. Highlight key information

Design your business plan to draw attention to critical information.

Techniques such as strategic content placement and highlighting can guide the reader's focus, ensuring that essential points stand out without overwhelming the viewer with too much information at once.

8. Segment content in tabs

Organize your business plan into sections or tabs that cater to different aspects of your restaurant concept and business strategy.

This not only makes your plan more navigable but also allows readers to easily find the information most relevant to their interests or concerns.

Here's an example of a tabs slide:

Restaurant business plan templates

Kicking off your restaurant business plan is a daunting task, especially when you aim to capture the essence of your dining concept in a document.

Interactive restaurant business plan templates are designed to simplify this process. They provide a structured framework that incorporates interactive and multimedia elements, essential for presenting your restaurant in a vibrant and dynamic manner.

These templates not only save you precious time but also guarantee that your business plan conveys a polished and compelling story.

Snag one today!

I am a Marketing Specialist at Storydoc, I research, analyze and write on our core topics of business presentations, sales, and fundraising. I love talking to clients about their successes and failures so I can get a rounded understanding of their world.

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How to Write a Winning Restaurant and Bar Business Plan (+ Template)

Creating a business plan is essential for any business, but it can be beneficial for restaurants and bar s that want to improve their strategy or raise funding.

A well-crafted business plan outlines your company’s vision and documents a step-by-step roadmap of how you will accomplish it. To create an effective business plan, you must first understand the components essential to its success.

This article provides an overview of the key elements that every restaurant and bar owner should include in their business plan.

Download the Ultimate Bar Business Plan Template

What is a restaurant and bar business plan.

A restaurant and bar business plan is a formal written document describing your company’s business strategy and feasibility. It documents the reasons you will succeed, your areas of competitive advantage, and information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Restaurant and Bar Business Plan?

A restaurant and bar business plan is required for banks and investors. The document is a clear and concise guide to your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Restaurant and Bar Business Plan

The following are the critical components of a successful restaurant and bar business plan:

Executive Summary

The executive summary of a restaurant and bar business plan is a one- to two-page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your restaurant and bar  
• Provide a summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast, among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started and provide a timeline of milestones your company has achieved.

You may not have a long company history if you are just starting your restaurant and bar. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your restaurant and bar company, mention this.

You will also include information about your chosen restaurant and bar business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a restaurant and bar business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the restaurant and bar industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support your company’s success)?

You should also include sources for your information, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a restaurant and bar business’ customers may include office workers who are looking for a place to have after-work drinks or families who are looking for a kid-friendly restaurant for dinner. 

You can include information about how your customers decide to buy from you and what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or restaurant and bar services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will differ from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, or launch a direct mail campaign. Or you may promote your restaurant and bar business via word-of-mouth or by partnering with another business.

Operations Plan

This part of your restaurant and bar business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

You also need to include your company’s business policies in the operations plan. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, your Operations Plan will outline the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. 

Examples of milestones for a restaurant and bar include reaching $X in sales. Other examples include expanding to a second location or launching a new menu.

Management Team

List your team members here, including their names and titles, as well as their expertise and experience relevant to your establishment. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here, you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs and the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Restaurant and Bar

Balance Sheet

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : Everything you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Restaurant and Bar

Cash Flow Statement

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup restaurant and bar .

Sample Cash Flow Statement for a Startup Restaurant and Bar

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and grow your restaurant and bar . It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A well-written restaurant and bar business plan is a must for any business owner. It’s a great tool for attracting investors and keeping the company focused.  

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How to Write a Restaurant Business Plan in 2024 (Free Template)

So you want to open a restaurant? Then you need a business plan.

A restaurant business plan is your roadmap to success. It outlines and forecasts every aspect of your restaurant’s operation and management —from menu design and location to financial planning and staff training. A comprehensive restaurant business plan demonstrates professionalism and a clear understanding of goals, increasing your chances of achieving long-term success in the competitive restaurant industry.

Why is a strong business plan important? Because it turns your restaurant idea into reality. According to the National Restaurant Association , having a business plan increases your chances of success by preparing you for problems before they arise and attracting investors and partners.

Planning is the key to restaurant success. Without a plan, you risk being part of the 30% of restaurants that fail in the first year​. To make sure your restaurant succeeds, you can start by creating a business plan. Financial projections are a crucial component, helping to secure funding and plan for the future. Here’s how to get started.

The importance of a restaurant business plan 

Think of your business plan as your ultimate guide, showing business owners, stakeholders, and investors how you’re going to turn your vision into reality. It ensures nothing is overlooked as you grow your restaurant . When you’re deep in the chaos of construction, licensing, staffing, and other challenges, your business plan will keep you on track and focused. Without one, navigating the complex world of opening a restaurant becomes much tougher.

A solid business plan is also key to attracting investors. Most new restaurants need some outside capital from hospitality investors or silent partners. Before they invest in your dream, they need to see that you’ve got a solid, thought-out plan for success. Your business plan shows investors that you’ve considered every expense and every possible scenario. It provides a complete description of your strategy, highlights the experience and skills of your management team, and explains why and how it will succeed.

Every business should have a business plan, whether new or existing. Business plans help you focus on your goals and can help get back on track if you stray from them.

• How to write a restaurant business plan

Whether this is your first business plan or your 10th, using a template specifically designed for the restaurant industry can be incredibly helpful. Our restaurant business plan template includes all the necessary sections you need. You can download a customizable copy of the business plan template here.

Conducting a thorough market analysis to understand customer demographics and competition is crucial for the success of your restaurant. Keep reading to learn about the key elements that make a restaurant business plan successful.

Further reading

• How to Write a Restaurant Business Plan Executive Summary
• Your Complete Guide to Restaurant Financing and Loans
• How To Conduct a Restaurant Market Analysis
• Essential elements of a restaurant business plan

Design a branded cover page

Start with a branded cover page that showcases your logo, brand fonts, and all relevant contact information. This sets a professional tone and makes your business plan easily identifiable.

Write the executive summary

Begin your restaurant business plan with an executive summary . This section introduces and sums up your entire vision, making sure to grab the reader’s attention. It should make investors feel invested in your idea and eager to read more.

Key elements to include are your restaurant’s mission statement , proposed concept, how you’ll execute the plan, an overview of potential costs, and the anticipated return on investment. Describe your restaurant concept, detailing the type of food being served, service style, design elements, and unique features. This is also a great spot to highlight your business’s core values. A strong executive summary sets the tone for your business plan and helps attract investor interest.

Additionally, include a management team write-up to highlight the credentials and past experiences of your management team, demonstrating their ability to run a successful establishment.

A well-conceived mission statement can provide a guiding light to keep your restaurant moving in the right direction. It helps ensure that every decision you make and every interaction you have is in line with your core values and goals.

Create the company overview

In this section, you’ll lay out the foundational details of your restaurant. Start by introducing the basic information: the restaurant’s name, address, and contact details. Include information about the owner and their background, showcasing their experience and passion for the industry. This sets the stage for your business’s credibility.

Next, describe the restaurant’s legal standing and its short- and long-term objectives. This helps potential investors understand the structure and vision of your business.

Highlight your understanding of the local food industry with a brief market research summary. Explain why your restaurant will succeed in this market by demonstrating awareness of local dining trends and consumer preferences. Crafting your own restaurant business plan is crucial to showcase your dedication and strategic planning, learning from others' mistakes to ensure success.

Here’s a sample layout for this section:

Company description

Restaurant Name : [Restaurant Name]

Location: [Restaurant Address]

Contact: [Restaurant Phone Number] | [Restaurant Email Address]

Owner: [Owner Name]

Experience: [Owner Name] has over [Number] years of experience in the restaurant industry. They have worked in various roles, including [List of Roles]. They are passionate about food and creating a memorable dining experience for their guests.

Legal Standing: [Restaurant Name] is a [Type of Legal Entity] registered in [State/Province].

• How to Write a Great Restaurant Description

Include an industry analysis

First describe the current state of the market sector your restaurant will be in and the specific area you will be in. This should include local economic growth, existing restaurants, infrastructure projects, nearby businesses, residential areas and foot and car traffic counts.

To create an effective and professional business plan, it is important to study restaurant business plan samples.

1. Review your target market

The restaurant industry is competitive so you need to find your niche. What will make your restaurant different? Who will your restaurant attract and who will be your repeat customers? Describe your target market and compare it to the overall restaurant industry in terms of diner demographics, characteristics and behaviour.

2. Location analysis

Even if you don’t have a specific location yet, focus on the general area or city where you will be opening your restaurant and explain why. Include local economic growth, major events and nearby infrastructure projects. Compare the current market conditions to your target market to show the proposed location fits your ideal customer profile. Investors will be looking closely at this section to make sure the location is right for your concept.

3. Competitive analysis

Get into the competitive landscape around your proposed location. Detail the number of other restaurants in the area, especially those with similar concepts. Investors want to know what will make customers choose your restaurant over the competition. What will make your food and service stand out and what other advantages do you have, like longer hours? Use a competitive matrix to show you understand your niche in the market.

Put together a restaurant marketing plan 

The marketing section outlines how you’ll promote your restaurant before and after opening. Not sure where to start? Check out our guide here. A well-thought-out marketing plan is crucial to grow a successful restaurant and distinguish it from competitors.

Start by listing out specific tactics you’ll use pre and post-launch. Will you work with a PR manager? Launch a social media account to document the build-out and generate buzz. Share those details. If you already have a large social media following , make sure to mention it.

Once the restaurant is open , which channels will you use to keep the momentum going? Email marketing? Regular social media posts? Charity partnerships? Local TV and radio ads? Will you invest in customer relationship management software to keep in touch with regulars or implement a loyalty program?

This section should give a clear picture of your promotional strategy and how you plan to engage with potential customers from the start.

Outline your operation plan

Here’s how to outline your restaurant’s day-to-day operations once the doors open. Cover these key areas:

Clearly defining the service style of your restaurant, whether it is fine dining , quick-service, self-service, or another type, is important to ensure a consistent customer experience.

1. Staffing

Think about the positions you'll need and how many people you'll need for each role. What will make your place a fantastic workplace? Outline the pay for each position, how you'll recruit the right people, and what the hiring criteria will be.

2. Customer service policies and procedures

How will you ensure an exceptional and consistent guest experience every time? Detail your service values, policies, and procedures, and explain how you'll enforce or encourage them.

3. Restaurant point of sale and other systems

How will you keep track of sales and inventory, manage takeout and delivery, control labor, handle cash, process payroll, and accept various payment types? Cover the systems you'll use for all these tasks.

4. Suppliers

Where will you get your ingredients? Think about both one-time equipment purchases and items that need regular replenishment. Detail your plans for sourcing these essentials.

Nail down your financial game plan with first-year projections

The financial analysis usually wraps up your business plan, and it’s where investors really focus in. They want to see exactly how you’ll spend their money in the first year and how you expect costs and revenue to stack up. Make sure to hit these key points in this section.

1. Your investment plan

Here’s where you put in the initial investment and how you’ll use it in the first year. Think kitchen equipment, furniture, decor, payroll, legal fees, marketing, and a bit of working capital.

2. The projected profit and loss (P&L) statement

Since the business plan is done way before you open your restaurant you’ll need to make some educated guesses for your P&L statement. Estimate costs and sales based on your restaurant’s size, target market and the local competition. Use this P&L template and guide to dive deeper into P&L statements and create one for your future restaurant.

3. The break-even strategy

This is where you show investors how much monthly revenue you’ll need to cover all your overhead and operational costs. Remember there are always variable costs so highlight what you think those will be. How will you hit that revenue target during slow months?

4. Cash flow prediction

Your cash flow expectations hinge on your inventory purchases, staff size, payroll, and payment schedule. Some months will be better than others once your restaurant is up and running. This cash flow analysis will show investors that, based on your forecasts, your restaurant can sustain itself during leaner months without needing extra investments.

How to sell a restaurant idea and master your business plan presentation

Once your business plan is polished and ready, it's time to become its number one expert. Investors want to see that you know every nook and cranny of your business and are confident you can make it happen.

When you're ready, email your business plan to anyone in your network who might be interested in investing. With any luck, you'll get some interest, and investors will want to meet to discuss your restaurant.

Some investors might want a pitch presentation alongside the printed business plan. Use a professional template from Google Sheets or PowerPoint, and practice until you can nail the presentation without notes.

Be prepared for any questions—both the expected ones and those that come out of left field. If you don’t know an answer on the spot, it’s fine to say you’ll find out and get back to them quickly.

A well-crafted restaurant business plan serves as a roadmap to success, guiding every aspect of the venture from menu design to employee training.

By carefully considering each component of the plan, aspiring restaurateurs can increase their chances of securing funding, attracting customers, and achieving their long-term goals. Including a sample menu in the business plan is necessary to showcase planned dishes and prices, which helps in selling the restaurant concept to potential investors and customers.

Remember, a restaurant business plan is not just a document to satisfy investors; it is a living tool that should be revisited and updated regularly as the business grows and evolves.

By staying committed to the plan and adapting it as needed, restaurateurs can ensure that their culinary dreams have a solid foundation for success.

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How much profit does the restaurant make.

When it comes to restaurant profitability, the numbers can widely vary. On average, restaurants report profit margins between 3% and 5% annually.

Fast-food establishments often have lower margins but benefit from a high volume of customers and quick turnover rates. In contrast, fine dining venues, although charging higher prices, see fewer customers and slower turnover, which influences their profit margins differently.

Our research indicates that, regardless of the type of restaurant, the average monthly profit usually falls between $15,000 and $25,000.

How to open a restaurant without money?

Starting a restaurant can be a daunting task, especially when funds are tight. However, with some creativity and determination, you can turn your dream into a reality. Here’s how:

Innovate Your Restaurant Concept

Consider a unique, low-cost restaurant concept. Instead of a full-scale establishment, perhaps a pop-up restaurant or a delivery-only kitchen could better fit your budget. Flexibility in your concept can significantly reduce initial costs.

Seek Funding Alternatives

Traditional bank loans aren't the only option. Look for investors who believe in your vision or explore crowdfunding platforms like Kickstarter or GoFundMe . Sometimes, you can even find grants aimed at smal l business startups.

Leverage Online Platforms

Start by building a strong online presence. Create a website and utilize social media to attract and engage customers. Online marketing can be a cost-effective way to generate buzz and gather a customer base before you even open your doors.

Collaborate with Other Businesses

Partnerships can pave the way for mutual growth. Collaborate with food suppliers, local farms, or even other small businesses to share costs and resources. This strategy can also expand your network and increase visibility within your community.

Start Small: Food Trucks or Catering

Consider launching your concept through a food truck, catering service, or pop-up stand. These options require significantly less capital than a traditional sit-down restaurant and can help you build your brand and customer base.

Growth Marketing Manager at Eat App

Saif Alnasur used to work in his family restaurant, but now he is a food influencer and writes about the restaurant industry for Eat App.

Reviewed by

Nezar Kadhem

Co-founder and CEO of Eat App

He is a regular speaker and panelist at industry events, contributing on topics such as digital transformation in the hospitality industry, revenue channel optimization and dine-in experience.

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Bar Business Plan Template

Written by Dave Lavinsky

Bar Business Plan Outline

• Bar Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Start Your Bar Business Plan Here

Bar Business Plan

You’ve come to the right place to create a business plan for your bar or pub.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their bars and pubs.

To write a successful bar business plan, you will first need to decide what type of bar you want to open. Do you plan to open a sports bar, a wine bar, a cocktail bar, or a nightclub? What kind of alcoholic beverages will you serve? Will you have live music?

You will then need to gather information about your business and the bar industry. This type of information includes data about your potential customers, marketing strategies to reach your target market, and 5-year pro-forma financial statements (income statement, balance sheet and cash flow statement).

Sample Bar Business Plan

The following bar business plan example gives you the key elements to include in a winning business plan:

• Executive Summary – The Executive Summary is the most important part of your business plan. It is a brief overview of your bar business concepts, its products and services, potential market opportunity, and competitive advantage.
• Company Overview – Also called the Company Analysis, here, you will provide a detailed description of your bar, its products and other services, and legal structure.
• Industry Analysis – In the Industry Analysis, you will provide an in-depth analysis of the industry in which your bar operates including major players in the local market, market size and growth, and profitability.
• Customer Analysis – In the Customer Analysis, you will identify your potential customers and provide insights into their purchasing habits. You will also create customer segments and discuss your marketing strategy for reaching them.
• Competitive Analysis – In the Competitive Analysis, you will identify your direct competition (other local bars and local businesses that serve alcohol) and provide insights into their strengths and weaknesses. You will also discuss your unique selling point and how you plan to stay ahead of the competition.
• Marketing Plan – The Marketing Plan includes a discussion of your marketing strategy to drive more foot traffic to your bar along with your pricing strategies. You will also provide a sales forecast and budget for your marketing efforts.
• Operations Plan – In the Operations Plan, you will discuss your bar’s day-to-day operations including inventory management, providing exceptional customer service, and creating loyal customers. You will also provide your business goals that you plan to achieve and a budget for your operating expenses.
• Management Team – In this section, you will provide a brief overview of your bar management team, including the bar owner, and their experience in the industry.
• Financial Plan – In this section, you will provide a three-year financial statement for your bar. This will include your income statement, projected balance sheet, and cash flow analysis.

Next Section: Executive Summary >

Bar Business Plan FAQs

What is a bar business plan.

A business plan is a planning tool used to start a new bar and/or grow your thriving bar 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 bar business plan using our Bar Business Plan Template here .

What Are the Main Types of Bars?

There are many types of bars . Most bars are local bars and are known as dive bars or a neighborhood bar.  Sports bars are also a very popular business option. There are also posh and luxurious bars that craft cocktails and offer high-end alcoholic drinks. There are trendy bars that offer the latest industry trends in cocktail and wine offerings. Other bars are location-focused and are unique to the area of town or location that it is in. Many bars also serve food as an option to accompany the alcoholic drink choices.

What Are the Main Sources of Revenue and Expenses for a Bar?

The primary source of revenue for a bar are the alcoholic drink items and food sold at the establishment.

The key expenses for a bar are the costs to purchase the alcohol (beer, wine, liquor) inventory, bar equipment and supplies, overhead expenses for the staff and rent, and any marketing costs the bar chooses to partake in.

How Do You Secure Funding for Your Bar?

Bar businesses are most likely to receive funding from banks. To attract potential investors, you should have an effective bar business plan with a solid business strategy and financial plan. Another option for a bar is to obtain a small business loan to help cover startup costs. SBA loans are a popular option as they offer longer loan terms with lower interest rates. Outside investors, crowdfunding, and/or friends or family are other typical funding options.

What are the Steps To Start a Bar?

Starting a bar business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

• Write A Bar Business Plan - The first step in starting a business is to create a detailed bar business plan for a bar that outlines all aspects of the venture. This should include market research on the local market and potential target market size, information about the services or products you will offer, the bar's concept, marketing efforts, pricing strategies and a detailed financial forecast.  
• Choose Your Legal Structure - It's important to select an appropriate legal entity for your bar . 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 bar business is in compliance with local laws.
• Register Your Bar Business - Once you have chosen a legal structure, the next step is to register your bar with the government or state where you’re operating from. This includes obtaining business licenses and permits (i.e., food service license and/or liquor license) as required by federal, state, and local laws. 
• Identify Financing Options - It’s likely that you’ll need some capital to start your bar or pub , so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 
• Choose a Bar 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 business operations. 
• 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. 
• Acquire Necessary Bar Equipment & Supplies - In order to start your bar business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 
• Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your bar . Your marketing strategy should include 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 thriving bar business:

• How to Start a Bar Business
• How to Open a Bar Business

Where Can I Get a Bar Business Plan PDF?

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

Opening a Bar & Restaurant?

How to write a bar & restaurant business plan (fast), step by step (actionable) case study.

Opening a bar and restaurant is an amazing adventure for any up-and-coming entrepreneur – and writing a business plan is one of the very first (and most important!) steps.

Wondering how to go about it? No need to look any further.

Our Bar & Restaurant business plan sample will help you map out your journey, as well as identifying and addressing any potential pitfalls that could cause problems for your business.

So whether you need funding or would simply like a track to run on…

Be sure to check out this example to improve your chances of Business Success!

Ready? Let’s go.

#1 Executive Summary for a Restaurant Business Plan

Are you looking to write a restaurant business plan? If so, let’s firstly look at The Executive Summary section.

The Executive Summary of your business plan outlines what your business does. It’s an overview of your business and summarizes all its key points, as well as being an introduction for the rest of your plan.

The example in this section can be suitable for the following:

• Small Restaurant business plan
• Bar business plan
• Cocktail Bar business plan
• Fast Food Restaurant business plan

Please check it out and feel free to lift any content.

Executive Summary

The #Executive #Summary outlines what your business does, summarizes your key points, and prepares investors for the rest of your #businessplan. It’s vital you provide a solid case for your business idea, which is why your #executive #summary is so important! Tweet

We are John and Mary Smith, a father and daughter team, offering years of experience in both business ownership and management, and the hospitality trade.

John Smith is currently a Director of an electrical contractors in Washington, and has been in the industry for 30 years. Currently working in the aerospace sector, John delivers the highest standard of workmanship for his clients, and offers a wide range of transferable skills including staff management, decision making, building strong business partnerships, and negotiation skills.

John will be supported by his eldest daughter Mary, a confident and outgoing people-persons with years of experience in the bar and restaurant industry. She offers a wealth of knowledge in hospitality and bar management, and would be very much at home running her own bar and restaurant.

What We Sell

We will be selling a wide range of soft drinks and alcoholic beverages in partnership with ABC PLC. The wet list will be based on the current ABC listings, and we would also like to expand the wine list in accordance with ABC Code of Practice.

The dry menu, which is currently of a very high standard, will be based on local and seasonal produce and created in direct association with the Head Chef.

We will also run a number of promotions to push more from our wet and dry menus, and these promotions will also run in accordance with ABC Code of Practice.

Who We Sell To

We will sell to local residents and also people visiting the area. We want to create a warm and friendly atmosphere, and to leave our customers feeling totally satisfied with our service whether they pop in for a pint or a coffee, or stay with us all evening for a meal and drinks. We can only achieve this by employing and developing the right team, and we will focus our efforts on hiring experienced, friendly, professional and enthusiastic staff. From our Head Chef down to our team of waiting staff and bar staff, we will ensure we only hire the best the local area has to offer.

In addition to retaining existing regular customers, we recognize the importance of attracting new customers, and we will look into what is currently working for the business, and what isn’t working so well. With this knowledge and information, we can look into promotions and improvements that will encourage more visitors, whether they are locals or passing trade.

Financial Summary

Please see financial plan for further information.

#2 Restaurant Business Plan Company Profile Section

The Company Profile in this restaurant business plan sample is also known as the Company Description. If written well, your potential investors will find it easy to understand your business model, your mission and goals and how it’s going to meet the needs of your target market.

For the purpose of this bar business plan, we’ve included the following in the Company Profile Section:

• Company Overview & Management Team

Mission Statement

• Location and Facilities

Company History

Company overview.

The Hugo’s Bar and Restaurant has been in business for years, and is an established bar and restaurant offering a wide range of beverages and a fine selection of hot and cold meals.

The main company address is Main Road, Washington USA

This is not a new business, but we would be taking over as new managers of the establishment. The bar and restaurant is owned by ABC PLC and would be offered to us under a five year tenancy, with the opportunity to renew this lease after expiry.

Under such an agreement we – the tenants – will pay the rent and be responsible for the day-to-day management of the bar and restaurant. This will include such things as:

• Bookkeeping and accounting
• Managing stock
• Taking responsibility for minor repairs
• Maintaining fixtures and fittings

Management Team

The management team consists of John Smith and Mary Smith, a father and daughter team. John Smith has years of experience as a Director for an electrical contractor, and is very experienced in staff management, business management, key decision making, negotiations with suppliers and partners and achieving results.

Mary Smith brings a wealth of bar and restaurant and bar management experience, and is keen to continue with the success the bar and restaurant has experienced already, whilst also making significant improvements where necessary.

We will look to recruit where required. It is essential that we have a first class Head Chef employed at all times to oversee our menu, and ensure that meals are produced to the very highest standard and that all ingredients are sourced locally where possible. We will employ a mixture of full-time and part-time staff.

Locations and Facilities

The Hugo’s Bar and Restaurant is situated at Main Road Washington USA

Our mission is to sell delicious and remarkable food and drinks to our customers. We will ensure that the food and drink we sell meets the highest possible standards of quality, freshness and seasonality and that it is sourced from local producers where possible. We want our customers to experience impeccable service at all times, and we will ensure that our staff demonstrate warmth, efficiency, integrity and knowledge at all times, and that every customer leaves happy.

A #mission #statement is a short statement of an organization's purpose and shows the goal of its operations: what kind of product or service it provides, its primary customers or market, and its geographical region of operation. Tweet

The bar and restaurant has been trading in the same location for a number of years, and offers a wide range of beverages and hot and cold foods to its clientele. Now run by ABC PLC, the establishment has been leased by a number of landlords, and now commands good reviews and a good following in the local region.

#3 Restaurant Business Plan Products & Services Section

The Products and Services section in this restaurant business plan example is showcasing the value and quality of their products and services.

For any start up bar business plan, it’s important to write down what it is that sets you apart from your competitors and the benefits of your business.

Ask yourself:

• What sets you apart from your competitors?
• How does your pricing compare?
• Why would people buy from you as opposed to your competitors?

Here’s the example.

Products and Services

The Hugo’s Bar and Restaurant is a family bar and restaurant offering a warm welcome, a wide selection of beverages, and an excellent menu. It is very popular with locals and has received very good reviews on TripAdvisor. The wet list features ABC fine cask beers, wines, spirits, cocktails, soft drinks and a coffee menu. We would also be interested in adding more wines to the menu, perhaps featuring a wine of the month, or wines from a particular region each month to keep the menu interesting.

In addition to the usual bar and restaurant fayre, we would also look to introduce the following services and events:

• A lunch club once a week for elderly people within the region.
• A dedicated kids menu. We could offer discounted kids meals one afternoon a week to encourage parents to visit us with their children after school.
• A dedicated gluten-free menu. There were a few comments on TripAdvisor about there not being a good gluten free selection. This is becoming more important to clientele.
• More theme nights such as steak & wine nights. We would also look into doing beer & cheese nights. This is something that has just started to take off, and would be a great way to introduce people to the cask beers on offer alongside local cheeses.
• Events such as coffee mornings welcoming people from the community, especially new people looking for a place to meet with locals, or get to know us better.

We would also look into adding or updating fruit machines and a jukebox, as well as increasing food service hours, and perhaps looking into serving a small breakfast menu.

Competitors

There are a number of bar and restaurants in the region we would be competing directly with. Some of the most popular bar and restaurants in the area include:

• Happy Restaurant
• Washington Arms

These bar and restaurants have good reviews. Happy Restaurant is famed for its real ales and homemade pork pies. The Arms is popular with sports crowds and offers good beer and a welcoming, busy atmosphere. Washington Arms offers a good selection of beers, and cheap homestyle food.

We want to be able to cater to more families looking for excellent food in a warm and welcoming atmosphere. We want to offer a busy and lively atmosphere in the evenings and to attract locals and passing trade. We also feel our dry menu offers so much more than other offerings in the local area, and we really want to focus on increasing profits in this area, and to look into ways to attract our customers to have a meal with us.

Product & Service Development

We would love to develop the products, services and events on offer, and to do this in line with the ABC Code of Practice. As the saying goes ‘if it ain’t broke don’t fix it’ and so we would look at the aspects of the business that are working well, and only make improvements where necessary. We also want to stay away from adding too many gimmicks as this can be a bar and restaurant’s downfall. We believe clientele like regular events so they know what is happening and when, and this works very well with the XYZ brand which offers Curry Clubs, Lunch Clubs and other options on set days of the week.

We also want to appeal more to families during the day. One idea we have is to add a marquee outside, and to build a pizza oven so that we can hold kids’ pizza parties and other events outside. Parents are always looking for something different for their kids to do, and this could be a very lucrative revenue stream for the bar and restaurant. Parents may also stay to have a meal or drinks while the little ones enjoy the party.

We may also look into offer a set kids menu as seen in other establishments. Children could choose a main meal, dessert and a drink for around $4.95, and also be given coloring pencils and a picture to color in. This not only keeps the kids entertained, but also encourages adults to stay longer and purchase more items from wet and dry menus. We would also promote our birthday parties on the back of the coloring in page.

Sourcing and Fulfillment

All wet products will be sourced and supplied by ABC PLC as per our agreement with the brewery. Equipment such as cellar cooling and drinks dispensers are maintained by ABC. We would look to secure good deals for local produce for our dry menu, and will leave this responsibility to our Head Chef.

Pathway and Lease Agreements are fully tied for all beers, ciders, stout, wines, spirits, soft drinks, packaged alcoholic drinks and gaming machines, including Amusement with Prize Machines (AWP), Skill with Prize Machines (SWP), pool tables and video/LCD based non-payout leisure machines.

Not applicable to this business.

Intellectual Property

Not applicable to this business. The products we sell will already have the relevant trademarks and licenses in place.

#4 Opening a Restaurant Business Plan Situation & Market Analysis Section

This section of a business plan is very often glossed over because more often than not, the business owner is so involved within their business, that it doesn’t occur to them that they can learn something by writing this down!

This section is one of the most important aspects of your Bar & Restaurant marketing plan.

In fact, it defines where you are currently in terms of your market, product, customer, and competition. It also allows you to look at both internal and external factors and to review and document the strengths and weaknesses of your business, as well as identifying any opportunities and threats within your marketplace.

For example:

• Market Analysis & Trends

Market Growth

Industry analysis, key customers, target market, market overview.

Our target market will consist of local customers already regulars at the establishment, new local customers, people visiting the area, and passing trade. The Hugo’s Bar and Restaurant already has a good reputation in the area for a good atmosphere and great food, and we certainly would not want to change that!

However, we do believe there is room for improvement and that these improvements would attract new customer streams to the bar and restaurant. If we could extend the restaurant opening hours for example, we could improve profits across the wet and dry menus, and also upsell items such as good wines. We would also want to welcome more children and parents to the bar and restaurant, and will look into ways we can do this.

Market Needs

The Hugo’s Bar and Restaurant offers some amazing attributes to the area. Its warm and welcoming atmosphere and good food are very well documented on TripAdvisor.

We will offer a wide range of products under one roof including alcohol, soft drinks, coffee and good food. People can come to us in the afternoon for drinks and stay with us through dinner and up until closing time if they wish. We want to encourage this kind of home from home experience and encourage people to enjoy as many of our products and services as possible.

The Hugo’s Bar and Restaurant always serves good food and drink and is our favorite place to eat in the local area. If you haven’t tried the Hugo’s Bar and Restaurant, it’s a must for 2016. – Vivien S (TripAdvisor)

For most of the evening, we had the dining room to ourselves which was lovely. The staff were friendly and left us alone unless we needed them. I really liked the fact that there was a limited menu. This way I know all the food prepared is fresh. – Emily C (TripAdvisor)

However, there is room for improvement. There are a number of negative comments on TripAdvisor regarding the limited range of food on offer for children, and there have also been misunderstandings in the past about gluten-free options. We would do more to ensure our customers are catered to and made to feel totally comfortable in our surroundings and with our menu.

We would also look at adding services that cannot be found elsewhere. For example, our plan is to offer kids’ parties outside in a marquee. By adding a pizza oven outdoors, we can capture a section of the market that is growing with a relatively cost-effective idea. This will also attract more wet menu sales from parents and carers who want to stay with us while the party is going on.

Market Trends

The great American night out has always featured the bar and restaurant. Whether it is at the start of the night for a few drinks before dinner or going on to a nightclub, or patrons spend their entire night in the same establishment, this timeless trend shows no sign in stopping or even slowing down. However, with more bar and restaurants springing up, and more bar and restaurants using innovative ways to attract patrons, we would need to stay on our toes. By offering a mix of traditional bar and restaurant fayre and services, and also looking at new ways of attracting customers, we will remain competitive and maintain the already good reputation.

Craft beers and cask ales are becoming more and more popular. People are open to trying new experiences, and would look at ways we can promote beer sales with special events. Beer and cheese evenings are starting to gain popularity with patrons being offered a cheeseboard and smaller taster glasses of beer. This is just one idea, but an example of how important it is to keep up to date with market needs and trends.

We may also look into ways in which we could encourage people to have their “big night in” at the bar and restaurant instead of at home. People settle down at home for shows such as X-Factor, Americas Got Talent, and other big TV events. We could possibly create a living room atmosphere and encourage people to come to us instead. This sort of event could get people talking to each other, enjoying themselves in our establishment, and ultimately ordering more drinks.

During the past decade, a series of legislative, social and economic trends have conspired to squeeze industry revenue and profit margins, forcing many bar and restaurants out of business. Already reeling from the ban on smoking in bar and restaurant places, patronage and industry revenue have been battered by rising beer duty, declining alcohol consumption, competition from low supermarket alcohol prices and the prolonged economic downturn.

Whilst it can be difficult for new bar and restaurants to enter the market, established bar and restaurants with regular visitors, a good reputation and willing to keep up with the latest trends and customer demands, can continue to thrive. This is why it is so important for us to review where the Hugo’s Bar and Restaurant is doing well, and to focus our efforts on areas that need improving or to introduce new events or services that would bring in new sustainable revenue streams.

We will be working in the hospitality industry, offering good food and drinks to our customers in a warm, friendly and welcoming atmosphere. Our services and products will be sold directly to customers within our establishment, and promoted across a number of different channels.

Customers often make their buying decisions based on price and personal preference. In addition to drinks purchased direct from the bar, we will also offer drinks within our restaurant, and this is where we may have the best opportunity to push some of our higher priced items such as wines and also pre-dinner cocktails. Reputation is also important, and the ABC name is well known amongst cask ale lovers.

Our key customers will consist of people of all age groups, from 0-100 years old. We want to promote a real family-friendly atmosphere, and to encourage people of all ages, all walks of life, and all areas to come to our bar and restaurant. We want to promote a real community spirit that unites people, starts conversations, offers customers a great day out or a memorable night out, and which also encourages customers to share their experience with others.

#5 Small Restaurant Business Plan Marketing Strategy Section

The marketing strategy section of your business plan describes who your customers are going to be and how you plan to communicate to them the services or goods you are offering.

If your potential customers are not made aware of your business, you are not going to stay in business for very long!

Defining a marketing strategy in your business plan highlights your understanding and knowledge and emphasizes what makes your business concept compelling. It also outlines how you plan to attract and maintain a customer/client base.

• How are you planning to advertise to your market?
• What is your competitive edge?
• What is your sales strategy?
• SWOT analysis.

Let’s look at this example for a restaurant business plan.

Define a marketing strategy within your business plan to highlight your expertise and emphasize what makes your business concept compelling. Tweet

Strategy and Implementation

There is a need for a good local bar and restaurant in every town, somewhere people can come together to share good times, celebrate, relax at the end of a long day and generally socialize with friends, family and other locals. The Hugo’s Bar and Restaurant is a small bar and restaurant, but is very big on character and reputation, and we would want to keep it that way.

We believe there is room in the market for many different establishments, but we do need to ensure that we stand out. Through good advertising locally and nationally, we can ensure our name stays on the map, and that we maintain the reputation the bar and restaurant has achieved already.

Good quality cask beers, a wide range of beverages, excellent food, a welcoming atmosphere, exciting promotions, regular events and a family feel are all qualities we feel are important to the bar and restaurant and its customers.

Our marketing plan would include improving the website, using social media channels more effectively, using print advertising for our promotions and events and also encouraging word of mouth recommendations and online reviews. We feel there is a lot of room for improvement where marketing is concerned. For example, the Twitter feed has not been updated since February 2nd.

Please see the latest ABC wet list pricing. The bar and restaurant currently offers a set menu for its guests at lunchtime, and an à la carte menu during the evening. These are all priced at very competitive rates.

We would like to offer our customers discounts, especially regular customers. We will offer these discounts through a discount card, and also through fun promotions on our social media channels.

We intend to use digital marketing and print marketing to its full potential. Through regular updates to Twitter, Facebook and our website, we can start to attract more attention, and ultimately attract more people through the door.

There is currently a website, but we feel it is very lacking in terms of up to date information. For example, there is a sample food menu listed, but we feel there could be more details here and some good quality photos to show potential customers how good our food is. There are also no event listings or any information about promotions or other messages that could attract customers. We would also like to attract more customers celebrating a special event. For example, we could give the birthday boy or girl a free pint or glass of prosecco, or a free dessert. We want the Hugo’s Bar and Restaurant to be their first choice whenever they have something special to celebrate.

We would like to use social media to advertise promotions. There will be regular quiet times during the week, and we would like to encourage more footfall by offering discounts through Twitter and Facebook. For example, we can give a 10-15% discount to any customer that quotes a phrase we have posted on our social media channels.

We also want to promote the Hugo’s Bar and Restaurant as a true community bar and restaurant, and we will look into charity promotions and other events where we can put something good back into the community. Whether it is giving a local charity somewhere to hold an event, or holding a special lunch club for elderly local residents, we want to portray a caring and welcoming image.

Distribution

We will sell directly through the bar and restaurant. We will also offer birthday party packages.

We would be taking over an already established business. Before taking over, we would want to have a set plan of action in place for any improvements we would like to make. For example, we would like to have seasonal lunch and dinner menus devised in advance so that we can publish these on our website and through our social media channels. We would also like to have set out our regular events and promotions and to have advertising arranged for each of these events so that we can get the word out in advance of each event taking place.

It is also important that we are accepted as the new management team, and therefore any changes we make will need to be handled carefully and in a sympathetic way. We want to listen to our customers, and through face to face conversation and activity on our social media accounts, we can obtain feedback on what our customers would like to see. This feedback will also have an impact on our milestones.

Training of key members of staff is also essential and we would work closely with ABC to establish a training schedule in accordance with their Code of Practice. Both John and Mary already have a Personal License in place.

In summary, we would look at employng good quality staff including a Head Chef, increasing food availability times, improving sales and profits and establishing ourselves as one of the leading bar and restaurants in the community.

SWOT Analysis

The Hugo’s Bar and Restaurant is in a very strong position as a popular bar and restaurant in the heart of the community, and is well established. It is especially well known for its excellent food and drink menus, and for its large garden during the summer months. The exterior of the bar and restaurant is attractive and welcoming, and offers a clean and modern look and good kerb appeal. There are also good parking facilities.

The bar and restaurant is also known for its excellent staff and service, and this is apparent on TripAdvisor and other review sites. We would work hard to maintain this level of service, and to make improvements where possible.

As with any business, there is always room for improvement. We feel there are a number of areas that we could work on immediately, and which would take minimal focused effort to achieve and improve.

We would first turn our attention to the food menus, offering a good set price kids menu, and also gluten-free options on a separate menu. We would also review gluten-free food prep in the kitchen, ensuring we have a separate fryer for chips and other foods that need to be cooked separately.

Food service times are currently too short, and we feel the bar and restaurant is missing out on profits during these times.

The bar and restaurant is currently closed on Monday, and this is an entire day where the bar and restaurant is missing out on local trade and trade from people visiting the area.

The patio area is not currently used to its full potential, and we would like to improve this area to make it more appealing and more suitable for a range of uses.

Social media channels are not being updated. The last Twitter update was almost six months ago, and this is a big area we would like to address. The website also needs attention.

Opportunities

There are many opportunities for improvement. In addition to the improvements we have already listed, we would like to focus on seasonal opportunities such as Christmas, New Year and Mother’s Day and advertise these events and promotions well so that we achieve maximum covers in the restaurant and excellent profits from our wet menu.

There is a real opportunity for us to appeal to more groups of customers, and to open up new revenue streams. For example, our aim is to have at least one kid’s birthday party booked every weekend, and to have more parents popping with their kids after school. There are also opportunities for us to improve our food menu, to make it more available during the week, and to publicise our menu and any special offers across our website and social media.

We also want to welcome our more elderly residents, and give them somewhere to visit on a weekly or monthly basis for a warm meal and a friendly atmosphere.

It is essential that we maintain the Hugo’s Bar and Restaurant’s already excellent reputation, and that we make improvements carefully and in the right way. One bad TripAdvisor review could be very damaging, so we will do everything in our power to attract the best reviews and word of mouth recommendations. Any failures in service will be dealt with immediately, and any poor reviews replied to and addressed in the best way possible, offering compensation where necessary.

We also need to ensure we keep an eye on our competition and what they are doing. Our tie-in with ABC is also critical to our operations, and so we would ensure that we work in accordance with the Code of Practice at all times.

Staff retention is extremely important to the establishment, especially in terms of more skilled staff such as the Head Chef. We would ensure we offer an attractive remuneration package, and that we keep our team motivated to the point where they wouldn’t want to work anywhere else.

Competitive Edge

We are competing against a number of similar establishments in the local area. The most popular bar and restaurants in the region offer excellent services, but we are in a very strong position to compete. For example, some are more well known for a lively sports crowd, and well-placed near to public transport links where there is good footfall from visitors.

We want to be the warm, friendly and inviting bar and restaurant where everybody is welcome. We offer a range of good quality beverages backed by the outstanding ABC brand, and we offer a fresh, seasonal and local menu cooked and presented to perfection. Customer service will also be extremely high, and customers will want to come back to us time and time again.

We believe we can stand out with our reputation, our promotional activities and also our innovative options such as kids’ pizza parties, beer and cheese nights and other events that are not available elsewhere.

Promotional Activity

In addition to our website and social media channels, we will also advertise in local newspapers, outside the bar and restaurant, at point of sale and on our restaurant and bar tables. We will track the success of our promotional activity through social media promotions, and also through print promotions. For example, some promotions may require a special code to be announced at the time of ordering, or for a leaflet to be presented to gain a discount.

Sales Administration

Our restaurant bookings will be taken in person, over the phone and through our website. All other products and services will be sold directly.

Whilst all sales will be largely led by what the customer wants to order at the time, we will encourage more sales through our promotions and also through clever upselling by our staff. For example, asking customers if they would like to see the wine list over lunch, or asking them if they would like any bar snacks with their order are all ways we can gently make suggestions. We may look into financial rewards for our staff depending on which products we can upsell and how.

Strategic Alliances

Our greatest strategic alliance will be with ABC PLC, and we would ensure we work closely with the company at all times to ensure we are complying with their Code of Practice, and to raise any concerns we may have early on.

Exit Strategy

Not applicable.

#6 Restaurant Business Plan Financials Section

Ensuring that you have a COMPLETE financial plan within your business plan will DOUBLE your chances of investment as well as the future growth of your business.

A lot of small businesses don’t have a financial plan and it’s essential to your long-term success and business growth.

We’ve listed here the key elements you need to have in a successful financial section:

• Initial Start Up Expenses – Especially if this is a start-up idea, it’s essential that you have a description of what you need for investment purposes.
• Sales Forecast – It’s essential to have an estimate of your monthly sales revenue as well as annual. This helps you understand your business and plan out any marketing and growth strategies.
• Direct cost of sales – Measures the amount of cash the company will have to spend to produce the goods or services sold by the company. The direct cost of sales only includes the expenses directly associated to production.
• Profit and Loss Forecast – This is a statement summarizing the revenues, costs and expenses incurred during a specific period.
• Balance Sheet – This is the financial position of the company and states its assets, liabilities and owners’ equity at a particular point in time. It illustrates the business’s net worth.
• Loan Repayment – This shows the lender or potential investor the act of paying back any monies.

So… Are you ready to look at some figures?

Profit & Loss

• Ecommerce Business Plan sample
• Bakery Business Plan sample
• Medical Center Business Plan sample
• Outdoor Activity Business Plan sample
• Advertising Agency Business Plan sample
• Boutique Business Plan sample
• Real Estate Business Plan Sample

Additional Resources:

• 40 Common Business Plan Mistakes to Avoid when Writing your Plan
• What is a Business plan and why do you need one?
• How to Write a Business Proposal in 5 Easy Steps
• 10 FREE Business Name Generator Tools to find your perfect business name

Now, over to you...

Now I’d love to hear from you:

Are you going to start up your own bar & restaurant or have you recently written a business plan?

We’d love to know what you thought about our bar & restaurant business plan example.

Feel free to leave any comments below and I will be sure to answer them as soon as they come in.

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How to Write a Restaurant Business Plan

Sally Lauckner is an editor on NerdWallet's small-business team. She has over 15 years of experience in print and online journalism. Before joining NerdWallet in 2020, Sally was the editorial director at Fundera, where she built and led a team focused on small-business content and specializing in business financing. Her prior experience includes two years as a senior editor at SmartAsset, where she edited a wide range of personal finance content, and five years at the AOL Huffington Post Media Group, where she held a variety of editorial roles. She is based in New York City.

Robert Beaupre leads the SMB team at NerdWallet. He has covered financial topics as an editor for more than a decade. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. In addition, he served as an online media manager for the University of Nevada, Reno.

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When starting a business—no matter what type of business that may be—a business plan is essential to map out your intentions and direction. That’s the same for a restaurant business plan, which will help you figure out where you fit in the landscape, how you’re going to differ from other establishments around you, how you’ll market your business, and even what you’re going to serve. A business plan for your restaurant can also help you later if you choose to apply for a business loan .

While opening a restaurant isn’t as risky as you’ve likely heard, you still want to ensure that you’re putting thought and research into your business venture to set it up for success. And that’s where a restaurant business plan comes in.

We’ll go through how to create a business plan for a restaurant and a few reasons why it’s so important. After you review the categories and the restaurant business plan examples, you can use the categories to make a restaurant business plan template and start your journey.

Why you shouldn’t skip a restaurant business plan

First-time restaurateurs and industry veterans alike all need to create a business plan when opening a new restaurant . That’s because, even if you deeply understand your business and its nuances (say, seasonal menu planning or how to order correct quantities), a restaurant is more than its operations. There’s marketing, financing, the competitive landscape, and more—and each of these things is unique to each door you open.

That’s why it’s so crucial to understand how to create a business plan for a restaurant. All of these things and more will be addressed in the document—which should run about 20 or 30 pages—so you’ll not only have a go-to-market strategy, but you’ll also likely figure out some things about your business that you haven’t even thought of yet.

Additionally, if you’re planning to apply for business funding down the line, some loans—including the highly desirable SBA loan —actually require you to submit your business plan to gain approval. In other words: Don’t skip this step!

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

How to write a restaurant business plan: Step by step

There’s no absolute format for a restaurant business plan that you can’t stray from—some of these sections might be more important than others, for example, or you might find that there’s a logical order that makes more sense than the one in the restaurant business plan example below. However, this business plan outline will serve as a good foundation, and you can use it as a restaurant business plan template for when you write your own.

Executive summary

Your executive summary is one to two pages that kick off your business plan and explain your vision. Even though this might seem like an introduction that no one will read, that isn’t the case. In fact, some investors only ask for the executive summary. So, you’ll want to spend a lot of time perfecting it.

Your restaurant business plan executive summary should include information on:

Mission statement: Your goals and objectives

General company information: Include your founding date, team roles (i.e. executive chef, sous chefs, sommeliers), and locations

Category and offerings: What category your restaurant fits into, what you’re planning to serve (i.e. farm-to-table or Korean), and why

Context for success: Any past success you’ve had, or any current financial data that’ll support that you are on the path to success

Financial requests: If you’re searching for investment or financing, include your plans and goals here and any financing you’ve raised or borrowed thus far

Future plans: Your vision for where you’re going in the next year, three years, and five years

When you’re done with your executive summary, you should feel like you’ve provided a bird’s eye view of your entire business plan. In fact, even though this section is first, you will likely write it last so you can take the highlights from each of the subsequent sections.

And once you’re done, read it on its own: Does it give a comprehensive, high-level overview of your restaurant, its current state, and your vision for the future? Remember, this may be the only part of your business plan potential investors or partners will read, so it should be able to stand on its own and be interesting enough to make them want to read the rest of your plan.

Company overview

This is where you’ll dive into the specifics of your company, detailing the kind of restaurant you’re looking to create, who’s helping you do it, and how you’re prepared to accomplish it.

Your restaurant business plan company overview should include:

Purpose: The type of restaurant you’re opening (fine dining, fast-casual, pop-up, etc.), type of food you’re serving, goals you have, and the niche you hope to fill in the market

Area: Information on the area in which you’re opening

Customers: Whom you’re hoping to target, their demographic information

Legal structure: Your business entity (i.e. LLC, LLP, etc.) and how many owners you have

Similar to your executive summary, you won’t be going into major detail here as the sections below will get into the nitty-gritty. You’ll want to look at this as an extended tear sheet that gives someone a good grip on your restaurant or concept, where it fits into the market, and why you’re starting it.

Team and management

Barely anything is as important for a restaurant as the team that runs it. You’ll want to create a section dedicated to the members of your staff—even the ones that aren’t yet hired. This will provide a sense of who is taking care of what, and how you need to structure and build out the team to get your restaurant operating at full steam.

Your restaurant business plan team and management section should have:

Management overview: Who is running the restaurant, what their experience and qualifications are, and what duties they’ll be responsible for

Staff: Other employees you’ve brought on and their bios, as well as other spots you anticipate needing to hire for

Ownership percentage: Which individuals own what percentage of the restaurant, or if you are an employee-owned establishment

Be sure to update this section with more information as your business changes and you continue to share this business plan—especially because who is on your team will change both your business and the way people look at it.

Sample menu

You’ll also want to include a sample menu in your restaurant business plan so readers have a sense of what they can expect from your operations, as well as what your diners can expect from you when they sit down. This will also force you to consider exactly what you want to serve your diners and how your menu will stand out from similar restaurants in the area. Although a sample menu is in some ways self-explanatory, consider the following:

Service : If your brunch is as important as your dinner, provide both menus; you also might want to consider including both a-la-carte and prix fixe menus if you plan to offer them.

Beverage/wine service: If you’ll have an emphasis on specialty beverages or wine, a separate drinks list could be important.

Seasonality: If you’re a highly seasonal restaurant, you might want to consider providing menus for multiple seasons to demonstrate how your dishes (and subsequent purchasing) will change.

Market analysis

This is where you’ll begin to dive deeper. Although you’ve likely mentioned your market and the whitespace you hope to address, the market analysis section will enable you to prove your hypotheses.

Your restaurant business plan market analysis should include:

Industry information: Include a description of the restaurant industry, its size, growth trends, and other trends regarding things such as tastes, trends, demographics, structures, etc.

Target market: Zoom in on the area and neighborhood in which you’re opening your restaurant as well as the type of cuisine you’re serving.

Target market characteristics: Describe your customers and their needs, how/if their needs are currently being served, other important pieces about your specific location and customers.

Target market size and growth: Include a data-driven section on the size of your market, trends in its growth, how your target market fits into the industry as a whole, projected growth of your market, etc.

Market share potential: Share how much potential there is in the market, how much your presence will change the market, and how much your specific restaurant or restaurant locations can own of the open market; also touch on any barriers to growth or entry you might see.

Market pricing: Explain how you’ll be pricing your menu and where you’ll fall relative to your competitors or other restaurants in the market.

Competitive research: Include research on your closest competitors, how they are both succeeding and failing, how customers view them, etc.

If this section seems like it might be long, it should—it’s going to outline one of the most important parts of your strategy, and should feel comprehensive. Lack of demand is the number one reason why new businesses fail, so the goal of this section should be to prove that there is demand for your restaurant and show how you’ll capitalize on it.

Additionally, if market research isn’t your forte, don’t be shy to reach out to market research experts to help you compile the data, or at least read deeply on how to conduct effective research.

Marketing and sales

Your marketing and sales section should feel like a logical extension of your market analysis section, since all of the decisions you’ll make in this section should follow the data of the prior section.

The marketing and sales sections of your restaurant business plan should include:

Positioning: How you’ll describe your restaurant to potential customers, the brand identity and visuals you’ll use to do it, and how you’ll stand out in the market based on the brand you’re building

Promotion: The tools, tactics, and platforms you’ll use to market your business

Sales: How you’ll convert on certain items, and who/how you will facilitate any additional revenue streams (i.e. catering)

It’s likely that you’ll only have concepts for some of these elements, especially if you’re not yet open. Still, get to paper all of the ideas you have, and you can (and should) always update them later as your restaurant business becomes more fully formed.

Business operations

The business operations section should get to the heart of how you plan to run your business. It will highlight both internal factors as well as external forces that will dictate how you run the ship.

The business operations section should include:

Management team: Your management structure and hierarchy, and who is responsible for what

Hours: Your hours and days of operation

Location: What’s special about your location that will get people through the door

Relationships: Any advantageous relationships you have with fellow restaurateurs, places for sourcing and buying, business organizations, or consultants on your team

Add here anything you think could be helpful for illustrating how you’re going to do business and what will affect it.

Here, you’ll detail the current state of your business finances and project where you hope to be in a year, three years, and five years. You’ll want to detail what you’ve spent, what you will spend, where you’ll get the money, costs you might incur, and returns you’ll hope to see—including when you can expect to break even and turn a profit.

Financial statements: If you’ve been in business for any amount of time, include existing financial statements (i.e. profit and loss, balance sheet, cash flow, etc.)

Budget: Your current budget or a general startup budget

Projections: Include revenue, cash flow, projected profit and loss, and other costs

Debt: Include liabilities if the business has any outstanding debt or loans

Funding request: If you’re requesting a loan or an investment, lay out how much capital you’re looking for, your company’s valuation (if applicable), and the purpose of the funding

Above all, as you’re putting your financials together, be realistic—even conservative. You want to give any potential investors a realistic picture of your business.

Feel like there are other important components but they don't quite fit in any of the other categories (or make them run too long)? That’s what the restaurant business plan appendix section is for. And although in, say, a book, an appendix can feel like an afterthought, don’t ignore it—this is another opportunity for you to include crucial information that can give anyone reading your plan some context. You may include additional data, graphs, marketing collateral (like logo mockups), and more.

LLC Formation

The bottom line

Whether you’re writing a restaurant business plan for investors, lenders, or simply for yourself and your team, the most important thing to do is make sure your document is comprehensive. A good business plan for a restaurant will take time—and maybe a little sweat—to complete fully and correctly.

One other crucial thing to remember: a business plan is not a document set in stone. You should often look to it to make sure you’re keeping your vision and mission on track, but you should also feel prepared to update its components as you learn more about your business and individual restaurant.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

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Restaurant Business Plan: What To Include, Plus 8 Examples

• Business Growth & Management , Templates & Guides

Do you want to ensure the success of your new foodservice endeavor? Write a restaurant business plan.

In this article, the experts at Sling tell you why a business plan is vital for both new and existing businesses and give you tips on what to include.

Table Of Contents

What Is A Restaurant Business Plan?

Why is a restaurant business plan important, questions to ask first, what to include in an effective restaurant business plan, how to format a restaurant business plan, efficient workforce management is essential for success.

At its most basic, a restaurant business plan is a written document that describes your restaurant’s goals and the steps you will take to make those goals a reality.

This business plan also describes the nature of the business itself, financial projections, background information, and organizational strategies  that govern the day-to-day activity of your restaurant.

A restaurant business plan is vital for the success of your endeavor because, without one, it is very difficult — sometimes even impossible — to obtain funding from an investor or a bank.

Without that all-important starting or operational capital, you may not be able to keep your doors open for long, if at all.

Even if funding isn’t a primary concern, a business plan provides you — the business owner or manager — with clear direction on how to translate general strategies into actionable plans  for reaching your goals.

The plan can help solidify everything from the boots-on-the-ground functional strategy  to the mid-level business strategy  all the way up to the driving-force corporate strategy .

Think of this plan as a roadmap that guides your way when things are going smoothly and, more importantly, when they aren’t.

If you want to give your restaurant the best chance for success, start by writing a business plan.

Sitting down to write a restaurant business plan can be a daunting task.

As you’ll see in the What To Include In An Effective Restaurant Business Plan section below, you’ll need a lot of information and detail to ensure that the final document is both complete and effective.

Instead of starting with word one, it is hugely beneficial to answer a number of general questions first.

These questions will help you narrow down the information to include in your plan so the composition process feels less difficult.

The questions are:

• What problem does the business’s product or service solve?
• What niche will the business fill?
• What is the business’s solution to the problem?
• Who are the business’s customers?
• How will the business market and sell its products to them?
• What is the size of the market for this solution?
• What is the business model for the business?
• How will the business make money?
• Who are the competitors?
• How will the business maintain a competitive advantage?
• How does the business plan to manage growth?
• Who will run the business?
• What makes those individuals qualified to do so?
• What are the risks and threats confronting the business?
• What can you do to mitigate those risks and threats?
• What are the business’s capital and resource requirements?
• What are the business’s historical and projected financial statements?

Depending on your business, some of these questions may not apply or you may not have applicable answers.

Nevertheless, it helps to think about, and try to provide details for, the whole list so your finished restaurant business plan is as complete as possible.

Once you’ve answered the questions for your business, you can transfer a large portion of that information to the business plan itself.

We’ll discuss exactly what to include in the next section.

In this section, we’ll show you what to include in an effective restaurant business plan and provide a brief example of each component.

1) Executive Summary

You should always start any business plan with an executive summary. This gives the reader a brief introduction into common elements, such as:

• Mission statement
• Overhead costs
• Labor costs
• Return on investment (ROI)

This portion of your plan should pique the reader’s interest and make them want to read more.

Fanty & Mingo’s is a 50-seat fine-dining restaurant that will focus on Sweruvian (Swedish/Peruvian) fusion fare.

We will keep overhead and labor costs low thanks to simple but elegant decor , highly skilled food-prep staff, and well-trained servers.

Because of the location and surrounding booming economy, we estimate ROI at 20 percent per annum.

2) Mission Statement

A mission statement is a short description of what your business does for its customers, employees, and owners.

This is in contrast to your business’s vision statement which is a declaration of objectives that guide internal decision-making.

While the two are closely related and can be hard to distinguish, it often helps to think in terms of who, what, why, and where.

The vision statement is the where of your business — where you want your business to be and where you want your customers and community to be as a result.

The mission statement is the who , what , and why of your business — it’s an action plan that makes the vision statement a reality

Here’s an example of a mission statement for our fictional company:

Fanty and Mingo’s takes pride in making the best Sweruvian food, providing fast, friendly, and accurate service. It is our goal to be the employer of choice and offer team members opportunities for growth, advancement, and a rewarding career in a fun and safe working environment.

3) Company Description

In this section of your restaurant business plan, you fully introduce your company to the reader. Every business’s company description will be different and include its own pertinent information.

Useful details to include are:

• Owner’s details
• Brief description of their experience
• Legal standing
• Short-term goals
• Long-term goals
• Brief market study
• An understanding of the trends in your niche
• Why your business will succeed in these market conditions

Again, you don’t have to include all of this information in your company description. Choose the ones that are most relevant to your business and make the most sense to communicate to your readers.

Fanty & Mingo’s will start out as an LLC, owned and operated by founders Malcolm Reynolds and Zoe Washburne. Mr. Reynolds will serve as managing partner and Ms. Washburne as general manager.

We will combine atmosphere, friendly and knowledgeable staff, and menu variety to create a unique experience for our diners and to reach our goal of high value in the fusion food niche.

Our gross margin is higher than industry average, but we plan to spend more on payroll to attract the best team.

We estimate moderate growth for the first two years while word-of-mouth about our restaurant spreads through the area.

4) Market Analysis

A market analysis is a combination of three different views of the niche you want to enter:

• The industry  as a whole
• The competition your restaurant will face
• The marketing  you’ll execute to bring in customers

This section should be a brief introduction to these concepts. You can expand on them in other sections of your restaurant business plan.

The restaurant industry in our chosen location is wide open thanks in large part to the revitalization of the city’s center.

A few restaurants have already staked their claim there, but most are bars and non-family-friendly offerings.

Fanty & Mingo’s will focus on both tourist and local restaurant clientele. We want to bring in people that have a desire for delicious food and an exotic atmosphere.

We break down our market into five distinct categories:

• High-end singles
• Businessmen and businesswomen

We will target those markets to grow our restaurant  by up to 17 percent per year.

Every restaurant needs a good menu, and this is the section within your restaurant business plan that you describe the food you’ll serve in as much detail as possible.

You may not have your menu design complete, but you’ll likely have at least a handful of dishes that serve as the foundation of your offerings.

It’s also essential to discuss pricing and how it reflects your overall goals and operating model. This will give potential investors and partners a better understanding of your business’s target price point and profit strategy.

We don’t have room to describe a sample menu in this article, but for more information on menu engineering, menu pricing, and even a menu template, check out these helpful articles from the Sling blog:

• Menu Engineering: What It Is And How It Can Increase Profits
• Restaurant Menu Pricing: 7 Tips To Maximize Profitability
• How To Design Your Menu | Free Restaurant Menu Template

6) Location

In this section, describe your potential location (or locations) so that you and your investors have a clear image of what the restaurant will look like.

Include plenty of information about the location — square footage, floor plan , design , demographics of the area, parking, etc. — to make it feel as real as possible.

We will locate Fanty & Mingo’s in the booming and rapidly expanding downtown sector of Fort Wayne, Indiana.

Ideally, we will secure at least 2,000 square feet of space with a large, open-plan dining room and rich color scheme near the newly built baseball stadium to capitalize on the pre- and post-game traffic and to appeal to the young urban professionals that live in the area.

Parking will be available along side streets and in the 1,000-vehicle parking garage two blocks away.

7) Marketing

The marketing section of your restaurant business plan is where you should elaborate on the information you introduced in the Market Analysis section.

Go into detail about the plans you have to introduce your restaurant to the public and keep it at the top of their mind.

Fanty & Mingo’s will employ three distinct marketing tactics to increase and maintain customer awareness:

• Word-of-mouth/in-restaurant marketing
• Partnering with other local businesses
• Media exposure

We will direct each tactic at a different segment of our potential clientele in order to maximize coverage.

In the process of marketing to our target audience, we will endeavor to harness the reach of direct mail and broadcast media, the exclusivity of the VIP party, and the elegance of a highly trained sommelier and wait staff.

8) Financials

Even though the Financials section is further down in your restaurant business plan, it is one of the most important components for securing investors and bank funding.

We recommend hiring a trained accountant  to help you prepare this section so that it will be as accurate and informative as possible.

Fanty & Mingo’s needs $250,000 of capital investment over the next year and a half for the following:

• Renovations to leased space
• Dining room furniture
• Kitchen and food-prep equipment
• Liquor license

Projected profit and loss won’t jump drastically in the first year, but, over time, Fanty & Mingo’s will develop its reputation and client base. This will lead to more rapid growth toward the third and fourth years of business.

Most entrepreneurs starting a new business find it valuable to have multiple formats of their business plan.

The information, data, and details remain the same, but the length and how you present them will change to fit a specific set of circumstances.

Below we discuss the four most common business plan formats to cover a multitude of potential situations.

Elevator Pitch

An elevator pitch is a short summary of your restaurant business plan’s executive summary.

Rather than being packed full of details, the elevator pitch is a quick teaser of sorts that you use on a short elevator ride (hence the name) to stimulate interest in potential customers, partners, and investors

As such, an effective elevator pitch is between 30 and 60 seconds and hits the high points of your restaurant business plan.

A pitch deck is a slide show and oral presentation that is designed to stimulate discussion and motivate interested parties to investigate deeper into your stakeholder plan (more on that below).

Most pitch decks are designed to cover the executive summary and include key graphs that illustrate market trends and benchmarks you used (and will use) to make decisions about your business.

Some entrepreneurs even include time and space in their pitch deck to demonstrate new products coming down the pipeline.

This won’t necessarily apply to a restaurant business plan, but, if logistics permit, you could distribute small samples of your current fare or tasting portions of new dishes you’re developing.

Stakeholder Plan (External)

A stakeholder plan is the standard written presentation that business owners use to describe the details of their business model to customers, partners, and potential investors.

The stakeholder plan can be as long as is necessary to communicate the current and future state of your business, but it must be well-written, well-formatted, and targeted at those looking at your business from the outside in.

Think of your stakeholder plan as a tool to convince others that they should get involved in making your business a reality. Write it in such a way that readers will want to partner with you to help your business grow.

Management Plan (Internal)

A management plan is a form of your restaurant business plan that describes the details that the owners and managers need to make the business run smoothly.

While the stakeholder plan is an external document, the management plan is an internal document.

Most of the details in the management plan will be of little or no interest to external stakeholders so you can write it with a higher degree of candor and informality.

After you’ve created your restaurant business plan, it’s time to take steps to make it a reality.

One of the biggest challenges in ensuring that your business runs smoothly and successfully is managing  and optimizing  your team. The Sling  app can help.

Sling not only includes powerful and intuitive artificial-intelligence-based scheduling tools but also many other features to help make your workforce management more efficient, including:

• Time and attendance tracking
• Built-in time clock
• Labor cost  optimization
• Data analysis and reporting
• Messaging and communication
• And much more…

With Sling, you can schedule faster, communicate better, and organize and manage your work from a single, integrated platform. And when you use Sling for all of your scheduling  needs, you’ll have more time to focus on bringing your restaurant business plan to life.

For more free resources to help you manage your business better, organize and schedule your team, and track and calculate labor costs, visit GetSling.com  today.

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This content is for informational purposes and is not intended as legal, tax, HR, or any other professional advice. Please contact an attorney or other professional for specific advice.

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How to Write a Bar Business Plan + Free Sample Plan PDF

Elon Glucklich

6 min. read

Updated March 17, 2024

Free Downloads: Sample Bar and Brewery Business Plan Templates

From sports bars to neighborhood pubs to upscale cocktail bars—drinking establishments are one of the oldest and most enduring types of businesses.

And the industry is projected to grow nearly 2.5% between 2023 and 2030, leaving plenty of opportunity for new businesses..

But competition in the bar industry can be fierce. You need to know your clientele, competitors, and how you’ll stand out if you want to succeed. Not to mention mapping out all the details of your financials and operations. 

Luckily, you can cover all of that (and more) by writing a business plan.

• What should you include in a bar business plan?

These are the typical sections to consider including in your bar business plan.

• Executive Summary
• Market Analysis
• Marketing and Sales Strategy 
• Operations Plan
• Business Overview

Financial plan

The sections you need will vary depending on why you’re writing a business plan and what you intend to do with it . 

Suppose it’s to manage your operations and not something you expect anyone outside of the business to read. In that case, consider keeping it to a few pages and skipping sections like the executive summary.

If you’re applying for a loan, then you’ll need a more formal plan that includes all the sections listed above.

Check out our step-by-step guide to writing a full business plan for more details.

• The 6 elements of an effective bar business plan

Executive summary

Your executive summary is a short, high-level overview of your entire plan. 

The summary should give readers a sense of what factors will make your bar successful. That could include securing a high-visibility location, partnering with a chef who will oversee meal preparation, or negotiating deals with brewers to get their beers in your bar.

If you’re seeking a bank loan for your bar, the lender will read your executive summary first. In all likelihood, they won’t read any further unless the executive summary grabs their attention. 

So, make it clear and convincing.

Market analysis

The market analysis may be the most important part of your entire business plan. 

It’s where you carefully research and document:

• Who your target customers are
• What they want
• What other establishments they may consider

Start by identifying the size of your market . Focus on the number of potential customers above the legal drinking age in your area. Then, segment these customers based on demographics such as age, income level, and lifestyle preferences. 

Then look into who you will be competing with. List and research other bars as well as indirect competition from restaurants, clubs, and even grocery stores that sell beer or home entertainment options.

Here are a few examples of what this process will look like:

Bar customer segmentation

If you find there are a lot of college students and younger adults near your bar location, you should cater your offerings to their tastes. But if you’re near office buildings or event venues, you may want to focus on older customers with more disposable income.

Will you offer a more diverse drink menu, better food, or a unique theme? Explain how these factors will set your bar apart and attract customers. Or, if your area lacks a certain type of bar, such as a sports bar or a high-end cocktail lounge, describe how filling this gap in the market will serve as your competitive advantage.

Marketing and sales strategy

Your market analysis gives you insights into potential customers. Your marketing and sales strategy is where you use those insights to get those customers in your door.

As you looked around at your competitive landscape, maybe you gained some insight into how your ideal customers discover new bars — through social media, online reviews, local event listings, or word-of-mouth.

Start by developing marketing strategies that are tailored to those channels . Consider tactics like:

• Creating engaging social media content showcasing your unique drinks, events and ambiance.
• Partnering with local businesses or events to increase visibility.
• Introducing special promotions to encourage repeat visits and attract new customers.
• Hosting themed nights or events to create buzz and attract specific customer segments.

In your business plan, document how you will implement these efforts and the resources required. 

Operations plan

The operations section of your business plan is where you detail the day-to-day requirements for running the bar smoothly. Start by describing your physical space and key equipment, such as:

• Beverage dispensing systems
• Glassware and utensils

Specify the types and number of each that you’ll need. Then you can address staffing needs, describing the roles of bartenders, servers, and support staff. Document in your plan that you’ll have a staffing strategy to cover peak hours.

You should also cover inventory management. Describe how you’ll stock alcoholic and non-alcoholic beverages, ingredients for cocktails and food. Be sure to spend time discussing supply chains for sourcing these ingredients.

Document the types of technology you’re using, like point-of-sale systems, inventory tracking, or customer reservation platforms. 

Finally, ensure that your operations plan demonstrates how you will comply with any licensing, health and safety regulations and that you have a plan for ensuring responsible customer behavior.

Business overview

The overview should fill in any gaps the reader may have, including:

• The name of your bar
• When it was founded (if it’s an existing business)
• The inspiration behind the business

You should include the background and qualifications of key team members here. Include their experience in the bar industry and any other experience that’s relevant to their position.

If you’re running an existing bar, discuss previous achievements like revenue milestones, recognitions, or community events you’ve hosted.

You don’t need a deep financial background to run a successful business. But it’s important to develop projections for how you expect the bar to perform. If you’re starting a new bar, consider that you’ll need to pay upfront costs like equipment, supplies, licenses and rent.

Then there are the ongoing costs like employee salaries, marketing, and continuing to keep your shelves stocked.

Making educated guesses about the future will help you determine what’s working, and where you should make adjustments as you run your business.

Include sales and expense forecasts in your plan. The financial section also should include a cash flow statement , income statement , and balance sheet .

Remember, no one knows exactly how the future will pan out — these projections are your baseline for how you think the business will do, and you’ll adjust them over time as you update your plan with actual results.

• Bar business plan templates and examples

To see how other bar businesses have created their plans, browse our free library of bar and brewery business plans . You can also check out our full selection of food and beverage business plans , or our entire library of over 550 business plans across industries.

Download as many as you want in PDF or Word format to help you write your own business plan.

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Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.

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How to write a restaurant business plan

A small restaurant business plan is the roadmap you use to open a successful spot. As a first step to creating yours, ask your friends and colleagues to share restaurant business plan examples. Their restaurant business plan samples can inspire yours.

Once you’ve studied those examples, it’s time to start writing your own. No matter how much thought you’ve put into your concept or how many trusted colleagues have assured you of its greatness, you must write a restaurant business plan. It will prove the viability of your concept to potential investors and provide them with a clear and engaging answer to the question: “Why does the world need this restaurant?”

“The point of a business plan is to show that you’ve done your homework,” says Charles Bililies, owner of Souvla , a fine casual Greek restaurant in San Francisco that has received national acclaim since opening in the spring of 2014.

“You have to show any potential investor that you have an actual plan, you know what you’re talking about, it looks professional, and you’re not just screwing around.”

Quick links Branded cover Table of contents Concept Sample menu Service Management team Design Target market Location Market overview Marketing and publicity Specialists and consultants Business structure Financials

1. Branded cover

Include your logo (even if it’s not finalized), the date, and your name.

2. Table of contents

A table of contents in a restaurant business plan provides an organized overview of the document’s structure and content. It typically appears at the beginning of the plan and lists the major sections and subsections with their corresponding page numbers.

The table of contents is important for several reasons. Firstly, it allows readers to quickly navigate through the plan, enabling easy access to specific sections of interest. Secondly, it helps in presenting a professional and well-structured document, showing that you have carefully organized your thoughts and ideas. It also improves readability and comprehension, as readers can easily locate and refer back to relevant information

3. Restaurant concept

Describe your restaurant concept and get the reader excited about your idea. Specify whether the restaurant will be fine dining or more casual. Include an executive summary and go into detail about the food you’ll be serving, inspiration behind your concept, and an overview of service style.

Define clearly what will be unique about your restaurant and include your mission statement. This section should include a market analysis that shows how your restaurant will be similar and different from competing restaurants.

4. Sample menu

The menu is the most important touchpoint of any restaurant’s brand, so this should be more than just a simple list of items. Incorporate your logo and mock up a formatted menu design (tap a designer for help if needed).

Your sample menu should also include prices that are based on a detailed cost analysis. This will:

• Give investors a clear understanding of your targeted price point
• Provide the info needed to estimate check averages
• Show the numbers used create financial projections for starting costs
• Show investors that you’ve done the homework
• Prove you can stay within a budget

This section is most relevant for:

• Fine-dining concepts
• Concepts that have a unique service style
• Owners who have particularly strong feelings about what role service will play in their restaurant.

It can be a powerful way of conveying your approach to hospitality to investors by explaining the details of the guest’s service experience.

Will your restaurant have counter service and restaurant hostess software designed to get guests on their way as quickly as possible, or will it look more like a theater, with captains putting plates in front of guests simultaneously?

If an extensive wine program is an integral part of what you’re doing, will you have a sommelier? If you don’t feel that service is a noteworthy component of your operation, address it briefly in the concept section.

6. Management team

Write a brief overview of yourself and the team you have established so far. You want to show that your experience has provided you with the necessary skills to run a successful restaurant and act as a restaurant business owner.

Ideally, once you have described the strong suit of every member of your team, you’ll be presenting a full pitch deck. Most independent restaurant investors are in this for more than just money, so giving some indication of what you value and who you are outside of work may also be helpful.

Incorporate some visuals. Create a mood board that shows images related to the design and feeling of your restaurant.

Whether you’re planning to cook in a wood-burning oven or are designing an eclectic front-of-house, be sure to include those ideas. Photos of materials and snippets of other restaurants that you love that are similar to the brand you’re building are also helpful.

8. Target market

Who is going to eat at your restaurant? What do they do for a living, how old are they, and what’s their average income? Once you’ve described them in detail, reiterate why your specific concept will appeal to them.

9. Location

There should be a natural and very clear connection between the information you present in the “Target Market” section and this one. You probably won’t have a specific site identified at this point in the process, but you should talk about viable neighborhoods.

Don’t assume that potential investors will be familiar with the areas you’re discussing and who works or lives there—make the connections clear. You want readers to be confident that your restaurant’s “ideal” diner intersects with the neighborhood(s) you’re proposing as often as possible.

If you don’t have a site , this is a good place to discuss what you’re looking for in terms of square footage, foot traffic, parking, freeway accessibility, outdoor seating , and other important details.

10. Market overview

Address the micro and macro market conditions in your area and how they relate to licenses and permits. At a macro level, what are the local and regional economic conditions?

If restaurants are doing poorly, explain why yours won’t; if restaurants are doing well, explain how you’ll be able to compete in an already booming restaurant climate. At a micro level, discuss who your direct competitors are. Talk about what types of restaurants share your target market and how you’ll differentiate yourself.

11. Marketing and publicity

The restaurant landscape is only getting more competitive. Discuss your pre- and post-opening marketing plans to show investors how you plan to gain traction leading up to opening day, as well as how you’ll keep the momentum going.

If you’re going to retain a PR/marketing company, introduce them and explain why you’ve chosen them over other companies (including some of their best-known clients helps). If not, convey that you have a solid plan in place to generate attention on your own through social media, your website , and media connections.

12. Specialists and consultants

List any outside contractors you plan to retain, such as:

• General contractor
• PR and marketing

Briefly explain the services they’ll be providing for you, why you chose them, and any notable accomplishments.

13. Business structure

This section should be short and sweet. What type of business structure have you set up and why did you make that specific decision? You will need to work with an attorney to help you determine what business structure is best for you.

“Step one: write a business plan. Step two: hire a good attorney. In addition to helping me build a smart, sustainable business structure, my attorney was also a great resource for reviewing my business plan because she’s read thousands of them. She was a very helpful, experienced outside perspective for more than just legal matters,” says Charles Bililies.

14. Financial projections

Let your accountant guide you through this portion of your business plan. It is crucial that whoever you hire to help you with your finances has a wealth of restaurant experience (not just one or two places). They should be familiar with the financial specifics of starting a restaurant and know what questions to ask you.

Before creating realistic financial projections, your accountant will want to know:

• How many seats the restaurant will have
• What your average check will be
• How many covers per day you plan to do

Being conservative in these estimations is key. These three data points will be used as the basis for figuring out whether your concept is financially feasible.

Lou Guerrero, Principal at Kross, Baumgarten, Kniss & Guerrero, emphasizes, “You’ll get a lot of accountants that tell you that they’ve done a couple of restaurants, but you have to choose someone that has a deep expertise in what you’re doing. There’s nothing to gain from going with someone that doesn’t have a very restaurant-centric practice.”

A well-vetted accountant with restaurant experience will know exactly what you’ll need to have prepared to show investors.

The key projections you can expect to work on are:

• Pro forma profit and loss statement for the first three to five years of operation
• Break even analysis
• Capital requirements budget

Writing a comprehensive restaurant business plan is a crucial step towards opening a successful establishment. By seeking inspiration from examples, demonstrating your expertise, and addressing all the essential components, you can prove the viability of your concept to potential investors.

Remember, a well-prepared business plan demonstrates professionalism and a clear understanding of your goals, increasing your chances of achieving long-term success in the competitive restaurant industry.

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Bar owners' guide to creating a business plan

Claim your free Nextdoor business page

Claim your business page to get discovered by customers and manage your recommendations

Behind every great bar is a great bartender. Behind them, is a bar business plan that sets your establishment up for a successful launch and long-term success. Whether you’re setting out to open your own spot or expanding into a new neighborhood with another location, your first step is laying out your plan. An effective bar restaurant business plan covers everything from financial goals to local business marketing strategies , all detailed in this 6-step guide.

1. Executive summary

A well-constructed bar business plan can be your roadmap, helping guide and establish your business’s operations and reputation. Not only is it an essential document if you’re raising funds, but it’s also a helpful way to organize thoughts and plans for yourself and to share them with employees.

Start every business plan with a summary to hook the reader to learn more about your company and your proposal. Think of it a little like a sales pitch for your bar, and a preview of everything you lay out inside your business plan. Be sure to include:

• Mission statement – Be both ambitious and realistic with how you position yourself and your bar with a mission that answers the question, “who are you and what do you do?” This should touch on why you’re opening this business and what you hope to accomplish in doing so. 
• Concept – Whether you picture your bar as a high-end cocktail lounge or a family-friendly brewery, share what will make your place unique. Get specific on how it will compete in the neighborhood you’re opening in, touching on the local demographic and other establishments.
• Operations – Briefly summarize how your business will function, whether you’ll be open late, serving food, or offering a retail selection. Detail the general structure of owners, managers, and employees.
• Value propositions - Highlight the value of your bar and what sets it apart from others in the area. Turning her food truck Yolos into a brick-and-mortar location, in Amarillo, TX, restaurant owner Yolanda Grazier offers an escape for the local lunch crowd: “​​We're really hoping to bring a good place where people are comfortable to come and sit down, enjoy a meal with their coworkers, [and] get a little rest and relaxation before they go back to work.”

You can also include your experience, industry trends, and more about the local market to show how your neighborhood bar will meet your goals. 

2. Location and design

Your bar’s physical location, inside and out, is important for business and your business plan. Use this section to connect your location to how it will influence your bar’s success. It should be clear to potential investors that you’ve done your research and see what will make it special based on the neighborhood it’s in. Share details on:

• Access to public transit – An accessible location near a bus or metro stop will make it easier for customers to come and go from your bar safely. 
• Neighborhood – Location may influence the type of bar you open, and vice versa. Share more about the area you’re located in and how you’re filling a need there. You can include what kind of foot traffic your location gets and demographic information of clientele, like age, income, lifestyle details, and employment information. 
• Interior design – From the back bar to your floor plan, establish plans for what your bar will look like inside. Include diagrams and renderings that will illustrate your vision. List amenities, like kitchen appliances and bathroom, plus any plans for remodeling.

3. Inventory and menu planning

Whether you’re serving local craft beer or a selection of wine from around the world, this is your opportunity to get specific about what neighbors at your bar will be saying “cheers!” with. 

Include inventory needs and menu planning details, like:

• Menu options – The more details you can provide about your upcoming specialties, the better. Share your menu, with price points and seasonal variations, as well as plating and glassware.  
• Ingredient lists – Provide the ingredients you plan to use and where you’ll source them. Share distributors for liquor, beer, and wine, and don’t forget mixers and garnishes.
• Miscellaneous items – Bar napkins, glassware, straws, cleaning supplies, and towels are necessary for most bars. Estimate weekly ordering needs and identify suppliers to ensure everything is accounted for.

Since the investors, lenders, or partners reviewing your bar business plan may not have the opportunity to test everything on your future menu, get detailed on flavor profiles, tasting notes, and descriptions to help them preview the experience of ordering at your bar. 

4. Research and marketing strategy

To build buzz for your local bar or restaurant, try a mix of traditional print advertising and online marketing. Get to know your local and target demographics to decide where and how to reach them. 

In the marketing section of your bar business plan, provide details on:

• Demographics -  Are you near a university, a hospital, or a hotel? Include neighborhood demographics and how you plan to serve locals what they’re thirsty for. With 22.9% of bar revenue coming from customers between the ages of 21 and 34 , age and income level can be factors worth highlighting. 
• Neighborhood specifics -  Tap into the interests and needs of the community you’re opening your doors in Speak directly with your bar’s new neighbors and connect with fellow businesses with a free Nextdoor business page that gives you instant access to everyone within two miles. 
• Traditional and digital marketing – Share your marketing plans, which should consider industry trends, print, and local advertising, partnering with other local businesses, and building a digital presence. Your bar should have a website, Nextdoor business page, and other social media so your information is readily available, easily searchable, and stands out as neighbors scroll for where to go this weekend.

Make marketing more effective by keeping both larger industry trends and your local demographic in mind as you plan to drive and build awareness for your bar.

5. Financial plan

The financial section of your bar business plan covers your financial history with potential for profit and your plan for obstacles that may come up. This is important for your business strategy, as well as for potential lenders, investors, or partners to see. 

Develop your bar’s financial plan with information on the following:

• Overhead costs – Price out liquor licenses, business licenses, and any associated fees with starting your bar restaurant. Note any equipment or training required to open. 
• Financial projections – Estimate your cash flow and the revenue for the first few years of your business, sharing when you expect your bar to break even.  
• Capital investment – Note your inventory, staff, and real estate costs, plus taxes and insurance costs. Assess what type of funding you need, if any, and what you’ll do with — and how you’ll pay back — any investment. Note any money that is set aside to cover unexpected fees and incidentals.

If you have unique plans to drive additional revenue, include them here in the financial section. Pa-Nash Restaurant, Bar & Lounge in Queens, NY, found new opportunities in catering and deliveries. Event buyouts or private dining options could be a secondary way for your bar to make money. 

Consider hiring experts, like an accountant, to help you with this stage of the process, especially if they have advised other local bars or restaurants in your area.

6. Daily operations

Any potential investors or partners will need to get a sense of your day-to-day operations. Even if you change specific details once your bar is open, going in with an idea can make your first weeks easier for you and your team.

Daily operations for a bar owner can include:

• Service style – Whether you’re opening a smaller bar with a single rail or a massive bar restaurant with tables and servers, explain how service will run. Detail and define POS systems, tickets, and customer comps.
• Chain of command – Delineate staff responsibilities, as well as the general chain of command for managers and operators. Everyone should know their exact role and responsibilities when they walk into work each day. 
• Company policies – Sick leave, paid time off, and general company policies can be established in this section. Consider creating a separate employee handbook for easy reference as you onboard team members. 

Even a busy bar can feel like a well-oiled machine if its daily operations are established on day one. Prepare for success and help eliminate unnecessary stress when your bar finally opens its doors. 

Open shop on Nextdoor 

An effective bar business plan will help guide you on the path toward success. As a local establishment, another key element to a bright future for your bar is in making it a neighborhood favorite. With one in three households on Nextdoor, there are potential customers right around the corner who can help. Invite neighbors in when you claim your free Nextdoor Business Page . Build buzz for your opening, share local deals, and give your neighborhood something to cheers to. 

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Step By Step Guide To Write A Bar Business Plan

Opening a new bar requires grit and determination - as well as a fantastic bar business plan to act as your roadmap. This document can determine the future success of your new venture, so it’s essential to make it as comprehensive as possible.

But for first-time bar owners, figuring out where to start can be challenging. Our step-by-step guide to writing a business plan will help you pinpoint the finer details to consider when building a thriving bar business.

How to Write a Bar Business Plan in 9 Steps

1. bar overview.

The first step in writing a bar business plan is to establish an overview of the type of bar you want to open. You need a concept and location to shape your business model and create an executive summary for your new venture:

One of the defining aspects of your establishment is its concept and theme, which you’ll need to describe clearly in your business plan. Whether it’s a simple sports bar, speakeasy, or high-end nightclub, have a fully developed idea of what your venue will be and what purpose it will serve.

You also need to consider how to meet market needs. If you’re following trending concepts, you’ll know that roof-top bars and lounges are popular now. Or, perhaps you want your venue to be an activity-based bar that offers an art gallery, board games, or mini-golf?  

Part of your business plan also includes setting your mission statement and goals. These should outline your vision and will influence who invests in your bar. Your mission statement should be a comprehensive statement that details what sets you apart from other bars and should include your company’s values.

It’s important to link your statement to your business concept. You should consider how your values and goals are influenced by what makes your bar unique - including your overall purpose.

Next, you need to propose a location for your bar. Venues close to stores, shopping, centers, and tourist attractions, typically get good visibility and attract a lot of foot traffic. Because of the number of people moving through these areas daily, they also usually offer a decent level of security for your customers.

Another consideration for location is to avoid suburban areas where neighbors might lodge noise complaints. Should this happen, it can mean regulations stipulate earlier closing times for your venue so as not to disturb the peace.  

Finally, look for a space where there’s low competition, and your business can shine. There are plenty of strips crowded with bars and nightclubs. While these might attract a decent amount of foot traffic, you’ll need to work much harder to draw people into your place if one establishment has already made a name for itself.

For this reason, aim to secure a spot with little competition. It could mean having a unique concept bar that overshadows the competition. Or it could mean selecting a space where your type of bar doesn’t yet exist.

Ease of Accessibility

Potential customers need to be able to access your bar easily, or they will go elsewhere. They might drive, take public transport, or use a ridesharing company to travel to your venue. It’s up to you to ensure there are ways and means to get them conveniently to the front door.

Here, you should be looking for a venue where you can offer parking to your patrons. It should also be accessible to ride-hailing services and close to public transport.

2. Customer Overview

No bar establishment would be successful without its customers. As part of your bar business plan, include a profile of the type of customer you hope to attract. Consider who your target market is and how it aligns with your bar concept.

You should also outline your demographic's age, income, and interests. You’ll need this information later when developing marketing strategies for your business.  

3. Management Overview

The next step in your bar business plan is building a team structure. Your crafty bar concept requires talented people to execute it properly.

Your bartenders are the face of your establishment. Essentially, they can make or break your customer’s impression of your venue. When going through the hiring process, you’ll need to consider each individual’s personality, qualifications, experience, and skills.

Ideally, you want at least one experienced bartender who knows the ropes and can help set up operations, deal with bar management, and train the team. They will also be able to help streamline any teething issues that come up as a result of starting a new business.

From the get-go, outline your bartending teams’ possible responsibilities and the duties they’ll need to undertake. This can help set expectations ahead of advertising jobs and interviewing potential candidates.

Bar-backs don’t need as much experience as bartenders or servers as they aren’t in the customer eye as much. But they must be willing and eager to learn. They are essential to keeping everything running smoothly and work closely with the bartender as an assistant.

For this reason, they need a solid foundational knowledge of the industry, ingredients, and barware in general.

Depending on your business concept and operational model, you may or may not need to employ servers. Some high-end venues have servers to reduce the crowd around the bar and deliver drinks to the table. Additionally, you’ll need to hire servers if you offer any food.

When building out your staffing plan, you’ll need to determine where your establishment lands with that requirement. Make a note here to look for bar industry candidates with alcohol training who know how to serve alcohol safely and legally.

4. Drinks Menu Plan

Your drinks menu is your bar’s product. To be successful, it’s essential to get this offering right.

While your beverage list will undoubtedly change over time, don’t neglect to include a sample menu in your business plan. This will give potential investors an idea of what’s in store and possibly help you secure funding.

Descriptions

Your drinks menu is the selling point of your bar business and the star of the show. If you can excite and entice patrons with promises of wonderful flavors, you’ll be onto a gold mine.

So, it’s important to include product descriptions in your menu, particularly for signature drinks. Each listing should detail the ingredients of individual drinks, any garnishes they may come with, and add-ons your customers can choose from.

Beverage Names

A successful bar is only as strong as its product. So, aligning your drinks with your bar’s brand and concept is important. Get together with a mixologist to create one or several signature drinks that will be uniquely your own. Give these drinks names that play to the overall theme of your business.

Product Sourcing

Many establishments lean on particular products as their claim to fame. For example, you might want to be known as a French wine bistro, local brewery, or craft cocktail spot. Decide what you wish your unique story to be and reflect this in your plan for product sourcing.

Of course, sourcing locally is the most sustainable way to go. You can also build relationships with vendors in your community, which can help bring people into your venue.  

Industry Trends

It’s essential to do your research and stay abreast of industry trends. Note what these are in your business plan, as this will help keep customers walking through your doors.

For example, one of the most popular cocktail trends in the bar scene is smoke-infused or smoked cocktails. Some mixologists may also use smoke bubbles to infuse the cocktail with a smoky aroma. This trend has gained fame in the last few years and adds a new twist to the cocktail-drinking experience.

Small Food Menu (Small Bites)

Food and beverages go hand in hand. If you plan a small menu with, say, tapas or easy eats, you can increase your revenue. It will prevent your guests from leaving to find something to eat.

Suppose you don’t want the hassle of food storage and preparation. In that case, consider formulating a partnership with a local eatery or small food business that can deliver a menu of select freshly-made items to your establishment.

5. Licenses

It’s key to plan out your business licenses carefully. If you don’t have the right ones in place, you won’t be able to operate.

Tavern License

When putting together your bar business plan, it’s important to research whether you need a tavern license. It’s a government-issued license for restaurants, bars, or businesses with more than 50% liquor sales.  

Beer and Wine License

If you’re planning on starting a beerhouse or wine lounge, you may only need to apply for a beer and wine license. This will restrict your sales to wine and malt beverages, as you won’t be able to sell hard liquors like spirits. Whether you need to apply for this license depends on your bar's concept.

Health/Food Service License

With a small food menu, you’ll likely need to note on your restaurant and bar business plan to apply for a food service license. It’s a requirement to serve any type of food within your establishment. To obtain a food service license, you’ll need to ensure that your bar follows strict rules and regulations laid out by the U.S. Food and Drug Administration .

Music License

Music is one of the key elements of creating ambiance in a venue. But did you know that streaming music from your digital subscription with Spotify or Deezer is not actually operating within the law? This is true even if you’re playing music through a TV or radio.

The right way to go about this is to pay a Performance Rights Organization (PRO) or music service that will send royalties to the relevant artists. For the most part, this doesn’t apply to bands or performers who play live at your venue.

6. Market Research

Performing market research as part of your bar business plan is key to understanding your opportunities and how to capitalize on them.  

Industry Research

Part of your research should be to determine the market size you can potentially snag. Look at other bars already operating in the area, consider the industry as a whole, and determine what trends are driving it forward.  

Target Market

What needs will your bar solve for your target market? You can find out who they are and what they want by considering the local neighborhood and bar type.

It’s also an idea to look at census data to see how many potential customers within a certain demographic live within a reachable radius of your proposed location.

Market Share and Price Point

When doing your market analysis, consider similar bar businesses that have come before you. What do their successes and failures look like? Why did they crash and burn, or soar to new heights? Take these lessons and figure out how to apply them so your business can succeed.

Furthermore, what will your entry into the market mean for the local community? Are you creating new job opportunities? Or are you going to bring in an unruly crowd of patrons they hope to avoid? Knowing this information will help you be accepted and create connections rather than catastrophes.

Lastly, consider what your ‘competitors’ or other similar industry businesses are charging for their drinks and services. Run a competitive analysis in the area to determine your potential price point and how you can stand out.

7. Bar Marketing

Utilizing a marketing plan in the right way helps you take measured steps to get your establishment in front of potential customers. Here are the strategies to get started:

Create a Brand

The key to starting a successful business - and keeping it open - is to create a memorable brand identity. Your toolbox for promoting your brand should include your logo, colors, and ‘personality.’ Use these in a way that becomes synonymous with your bar, no matter where people interact with it.

Marketing Tools

Besides developing your brand identity, consider the channels you can market on to attract customers. At the very least, it should include your social channels, website, and media influencers.

8. Other Avenues to Increase Revenue

Besides being a bar and welcoming guests who come in with reservations or foot traffic, there are other avenues to increase your revenue.

Hosting events such as karaoke nights, wine tastings, or live music is an excellent way to attract larger crowds to your bar. You are guaranteed certain sales, can charge a cover fee, and get new people walking through the door.

If you go this route, we recommend using event management software to keep everything on track and work effortlessly with your team.

It’s no surprise that all businesses go through an ebb and flow of customer traffic. A great way to increase cash flow during slower periods is to introduce ideas like drink specials and happy hour discounts.

When you’re writing up a business plan, don’t forget to brainstorm ideas for a pre-opening promotion as a way to test the market. This can be as simple as a soft launch or as elaborate as a grand-opening celebration.

9. Financials

An important aspect of your business plan is to outline your potential start-up costs. These, along with the costs of day-to-day business operations, and financial projections, will attract or deter potential investors.

Your business plan should also highlight possible funding options like loans and investment opportunities you have available. Additionally, you’ll need to draw up a break-even analysis to determine how much revenue it will take to turn profits.  

Realizing your dream of owning the hottest bar in town starts with a great business plan. It will need to cover everything from your mission statement to your concept and drinks menu. This will help you build a sturdy management team, hire great employees, and attract people to your venue.

Want to know more about Perfect Venue for event management? Try it free to find out how it can be a fit for your new business.

Have thoughts on the article? Feel free to email us at [email protected] - we'd love to hear it!

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Restaurant Business Plan Template: Grow Your Business the Right Way

By Homebase Team

Planning the best way forward for your new restaurant can be a daunting task. Whether you’re living the dream of opening your own restaurant or reworking your existing concept, a restaurant business plan template takes a ton of stress out of writing a business plan.

In this article, we walk you through how to create a restaurant business plan so you’re not stranded in a quagmire of confusing priorities and too many ideas. Even better, we’ve created a free restaurant business plan template to form the operational foundation as you put one together! As you follow through our guide, feel free to download, customize, and reference our template to help you put your restaurant on the path to success.

To start, let’s go through all the ways a written business plan helps shape your restaurant, and why it boosts your business’s chance of success.

What is a restaurant business plan?

A restaurant business plan is a written document that lays out an overview of a restaurant, its objectives, and its plans for achieving its goals.

A business plan is a necessary tool for restaurants of all kinds and sizes. It can be a handful of pages long or much more detailed. A well-written restaurant business plan not only helps you organize your ideas, it’s also a key part of getting investor funding .

Why you need a business plan. 

Creatively, opening a new restaurant can be incredibly exciting. But it’s also super complicated. From licenses to equipment to building a team, each phase needs a lot of attention to detail.

Before you jump in, it’s important to shape your plan of attack, organizing your business ideas into a clear, concise narrative that an outsider could easily understand. A business plan is an essential part of this, as it  helps you:

Set short- and long-term goals.

A restaurant business plan not only shows how your business will operate in its early stages—it also shows what steps it’ll need to follow as time goes by. Setting both your short and long-term goals at the outset makes you more likely to achieve them. Short-term goals may include meeting current staffing needs, while long-term goals may include five-year growth forecasts and the steps involved to get there.

Understand your resource needs.

Going through the exercise of writing a restaurant business plan is as important as having the finished document in front of you. As you organize your thoughts, your resource needs—from the amount of capital you need to raise all the way down to the equipment you need to find—will take shape. 

Reduce potential risks.

Sadly, some 60% of restaurants fail within the first year of opening. One of the main reasons? A failure to plan. Your business plan will help you plan for most challenges at your restaurant before they come up, keeping you on the right side of that number.

Some of the risks your restaurant faces might include:

• Crowded market.  One key component of your business plan is conducting market research. How will you ensure your restaurant stands out?
• Supply chain issues.  Especially if your eye is toward growth, you need to know how to affordably, reliably, and sustainably keep your restaurant stocked—long-term. Why not track supply strategies as part of your business plan?
• Health and safety.  Are you compliant with health regulations? How will you know? Your business plan is one great place to outline compliance protocols, keeping you and your team informed.

Develop a marketing strategy.

As you do your market analysis and figure out your ideal customer, the ways you’ll promote your business will get clearer. The more specific you are with your market research, the easier and more effective your marketing efforts will be.

Build your team.

Your business plan helps you see who you’ll need on your team and which roles you’ll need to fill first . For investors, your business plan is a document showcasing everyone’s collective experience, personalizing your restaurant in their eyes and packing a professional punch. This can include everyone from your head chef to your star hostess. Make it clear how you’re filling your hospitality niche!

Share your vision.

Whether you’re using your business plan to secure startup funding or need additional capital after you’ve already opened, your restaurant business plan shows an investor or lender exactly why they should get behind you. Your business plan should detail where you began (or hope to begin), where you are now, and where you intend to go—as well as how.

The 9 elements of a strong restaurant business plan.

Your restaurant business plan will be unique to your restaurant’s vision. But all good business plans hit standard points, and whoever reads yours will expect to see certain elements. As you develop and finalize your ideas, here are nine key elements your business plan should include. 

1. Executive summary

A strong restaurant business plan begins with a strong executive summary. This is a sharp, concise overview of your restaurant—and your  best opportunity to grab people’s attention.

Here’s where you communicate, in a nutshell, what kind of restaurant you want to run. Which demographic will you be targeting? Why is your business something the community wants or needs? Especially if you’re asking for financing, include a snapshot of your financial information and growth plan as well. 

Your executive summary should briefly lay out:

• Your mission statement. Why are you starting this restaurant now, in this location? 
• Your idea. What’s the concept of this restaurant?
• Your plan of execution. What are your key steps to making this concept work?
• Your potential costs. What are your expected expenses?
• Your anticipated ROI. How much do you expect your restaurant to make?

Many investors will make a split-second decision off of the executive summary alone. It might be all they’re going to read, so make every word count.

2. Company description

Now it’s time to let your creativity out and give your restaurant concept life. Give a more detailed description of your concept that lets your passion for what you’re creating come through. 

Flesh out all the other details of your proposed restaurant, including your restaurant’s:

• Style of cuisine
• Any unique selling points or differentiators that will make customers choose you—for instance, aesthetic or celebrity chef
• Service style
• Restaurant name (or at least ideas)
• Size, seating style, and capacity
• Location ideas— or the location you’ve scouted or secured
• Ambiance ideas, including décor, lighting, and music
• Operating hours
• Other service offerings, like whether you’ll offer delivery or takeout, delivery guarantees, catering, and any retail products you plan to sell
• Legal structure (e.g., sole proprietorship, LLC) 
• Existing management and their roles, including yours
• Experts or advisors you’ve brought on board

3. Market analysis

Present the research you’ve done on your target market. Make a couple of buyer personas to represent your future customers, explaining:

• Where your target customers live
• Their income levels
• Their dining-out and/or ordering-in pain points (e.g., lack of late opening hours, lack of family friendliness)
• How often they dine out or order in

Go through which other restaurants already have a customer base in your area, then explain why people will choose your restaurant over others. 

4. Sample menu

Even at the business plan stage, menu engineering is crucial. The specific menu items you’re likely to serve—the biggest thing that will set you apart—should shine through with descriptions that are short, clear, and evocative. If you have an executive chef already, this is a great area for them to add input.

Use language that will get people excited about trying your offerings. Hire a designer or use an online program to create your own mockup using the same colors, fonts, and design elements as the rest of your branding. 

5. Business structure

Dive deeper into your business structure (sole proprietorship, partnership, LLC, etc.) and organizational management. Show what your different employee positions will be (co-founders, managers, servers) to give a sense of your team’s makeup. An organizational chart can be helpful here.

Investors won’t expect you to have your entire team on board at this stage, but you should have at least a couple of people firmed up. For the roles that are already filled, including your own, summarize your collective experience and achievements. Bullet points work well, or some people choose to go into more detail with full resumes for the executive team or critical team members.

6. Restaurant design and location

Long before you sign a lease, make sure that your new offering will outshine existing ones nearby. In this section of your business plan, explain why your chosen location, or the ones you’re narrowing down, are going to be an effective space for your target market.

Consider things like:

• Neighborhood demographics
• Foot traffic
• Labor costs
• Accessibility

Hand in hand with location, your restaurant’s interior design—both in its floor plan and its ambiance—is also crucial to your business’s viability. Come up with a captivating restaurant design that communicates your theme and matches your cuisine, creating a memorable customer experience. Decide how many tables you’ll be serving, and plan out any outdoor seating.

Touch on things like:

• Team uniforms
• Flatware and glassware

7. Marketing strategy

How do you plan to market your restaurant? Your plan for grabbing customers’ attention is vital to getting diners through the door, especially at the beginning before word-of-mouth advertising has taken off.

What kind of offers will you provide? Will you have promotional events, direct mail, or a social media strategy ? Go through your planned marketing campaigns and explain how each of them will help secure your target market. 

8. Takeout and delivery options

If you’ve decided to have takeout and delivery at your restaurant—pretty important for most target markets—decide whether you’ll use your own drivers or a professional fleet like Uber Eats or DoorDash.

Show how you’ll provide the smooth digital experience your customers will expect. Decide if and how your website will come into play, bearing in mind that in 2023, 40% of consumers preferred to order directly from the restaurant website .

9. Financial projections

Your restaurant’s projected budget need to be solid, especially if you’re using your business plan to get startup funds. Without a budget, investors have no way of knowing if your business is a good investment or when it will become profitable.

One way to make sure your projections are rock solid is to hire an experienced accountant with expertise in running restaurants. Make sure you’re keeping track of market research, planned costs , and projected income. Show how investor funds will be used and whether you’ll be putting up collateral to get a loan. You’ll also score bonus points with a sales forecast for the next five years. Make sure to include a break-even analysis!

One free restaurant business plan template, coming up. 

As the team behind Homebase , we know how much there is to consider when you’re starting a new restaurant. We’re proud to be an all-in-one partner for thousands of restaurants large and small—helping make everything from staffing, to scheduling, to team communication easier for business owners.

And we know that your restaurant business plan is a high-stakes document. That’s why we created our free restaurant business plan template to make sure nothing gets overlooked.

Check out our free, downloadable template to get your ideas into shape, get started on your restaurant journey—and get investors excited to jump on board with you. 

Download your restaurant business plan template for free: Restaurant business plan + free template PDF

Stop chasing down phone numbers with our built-in team communication tool. Message teammates, share updates, and swap shifts — all from the Homebase app.

Restaurant business plan template FAQs

What is the basic planning document for a successful restaurant.

The basic planning document for successful restaurants is a restaurant business plan. A restaurant business plan lays out a restaurant’s long and short-term goals and its plans for achieving those goals. Restaurant planners use it both to finetune their ideas and to secure investor funding.

How to write a restaurant business plan.

When writing a restaurant business plan, include an executive summary, a detailed restaurant description, market analysis research, a sample menu, a breakdown of your business structure, the design and location of your restaurant, your planned takeout and delivery options, your marketing strategy, and your financial projections.

What makes a business plan template for restaurants different from a standard business plan?

A restaurant business plan template differs from a standard business plan by including things like menu engineering, interior design, kitchen operations, front-of-house management, takeout and delivery offerings, and location analysis, which are unique to the food service industry.

Remember:  This is not legal advice. If you have questions about your particular situation, please consult a lawyer, CPA, or other appropriate professional advisor or agency.

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How to write a Bar Business Plan: Complete Guide

• January 3, 2023
• Food & Beverage

Whether you’re looking to raise funding from private investors or to get a loan from a bank (like a SBA loan) for your bar, you will need to prepare a solid business plan.

In this article we go through, step-by-step, all the different sections you need in your bar business plan. Use this template to create a complete, clear and solid business plan that get you funded.

1. Executive Summary

The executive summary of a business plan gives a sneak peek of the information about your business plan to lenders and/or investors.

If the information you provide here is not concise, informative, and scannable, potential lenders and investors may lose interest.

Why do you need a business plan for a bar?

The purpose of a business plan is to secure funding through one of the following channels:

• Obtain bank financing or secure a loan from other lenders (such as a SBA loan )
• Obtain private investments from investment funds, angel investors, etc.
• Obtain a public or private grant

How to write your bar business plan’s executive summary?

Provide a precise and high-level summary of every section that you have included in your bar business plan. The information and the data you include in this segment should grab the attention of potential investors and lenders immediately. Ensure that the executive summary doesn’t exceed 2 pages in total.

The executive summary usually consists of the five major sub-sections that include:

• Business overview : introduce your bar and provide a brief of the products and services you will offer. For instance, it may be a sports bar, a social hub, a music venue, or something else. Also mention the number of customers your bar can host at once.
• Market overview : the market overview section will contain an overview of the expected market size and growth of the bar industry in your area as well as your target audience and its demographics. Another important part of any market overview is a clear and thorough analysis of your competitors
• People : introduce your bar’s management and employee structure. Provide a brief (no more than a couple of sentences each) of the knowledge and experience of the team. Also, speak about your hiring plans: who will you hire and who will report to whom?
• Financial plan : how much profit and revenue do you expect in the next 5 years? When will you reach break-even point and start making profits? Include here your key financials such as revenue, gross profits, and net profit
• Funding ask : what loan/investment/grant are you seeking? How much do you need? How long will this last?

Bar Financial Model

Download an expert-built 5-year Excel financial model for your business plan

2. Bar Business Overview

This is the section of your bar business plan where you properly introduce your bar and its business model.

Here is a sample list of questions that you must try to answer in this section:

• What is the rationale behind the bar?
• What’s the bar’s location and why did you select that location?
• Why did you select the type of bar you want to open?
• What will be the products and services you will offer?
• What will be your pricing strategy and why?
• Will your operating hours be the same as your competitors?
• Who is your target audience?
• How many customers can you serve at once (capacity)?
• What will be the legal structure of your company?

a) History of the Project

Here you should explain the background of your project, more importantly:

• The passion & experience of the business owner for the bar industry
• The rationale behind the business: why did you decide to create a bar today?

Passion & Experience

You may or may not have prior experience. If you have experience, speak about it and how it will help you to run your business. For instance, you may have been a senior manager in a bar for say 5 years, and now you want to start your own bar and use your knowledge to run it more efficiently.

However, if you don’t already have experience, that’s fine. You must demonstrate your passion and some industry knowledge (you may have conducted thorough research).

Is there a certain problem (or perhaps, a set of problems) that your bar will try to solve when it comes into existence? For example, there may not be any sports bar in your area where sports enthusiasts can enjoy sports on a big screen while enjoying drinks and food.

But that’s not all! The market must be suitable for a business to exist and thrive. For instance, if the area has a high rate of hooliganism and vandalism, opening a bar in the area might not be a good idea. Similarly, if the population of the target market has a high percentage of under-aged people and non-drinkers, you may not receive enough customers to keep the bar profitable.

b) Business Model

This sub-section of the Business Overview will explain your business model. Describe the following points briefly:

• Will you buy an existing bar and do some remodeling, or will you start a new bar and design it from scratch?
• The type of bar you want to open and why

What are the different types of bars?

There are multiple types of bars. Some of them that you may consider include, but are not limited to:

• Specialty Bar: They specialize in one or two things. For instance, it can be a Martini Bar or a Cigar Bar. If you decide to open a Martini Bar, expect to have more women customers since the drink is popular among women. Again, a Cigar Bar will attract people who want to enjoy a smoke while drinking
• Sports Bar: This is a type of bar that will televise sporting events continuously on a big TV screen. Usually, these bars remain crowded, and the male species will usually flock to these bars. Things can get raunchy and drunk men can pick up fights.
• College Bar: This type of bar attracts the college crowd – people who have just turned 21. With drinking becoming legal for them, you can expect people to have lots of fun and order a lot of booze. Sorority girls, frat boys, cheerleading squad, football team – you will find them all. But they aren’t among the most responsible drinkers. So, expect some mess
• Concept/Cocktail Bar: These bars are specially for people with big spending capacity. Usually, the bars have something unique to offer and often attract tourists. For example, you may consider an open-air rooftop bar offering a sweeping view of the city. These bars are more about expensive thrills and new trends, and they often tend to be very extravagant
• Irish Pub: They specialize in offering alcoholic drinks that come straight from Ireland. Usually, they have a great ambiance, and they are perfect for relaxation and de-stressing. They have that typical Irish feel complete with decorations and pleasant music

There are many more types of bars that you may consider. However, remember that the bar you are opening must have a high percentage of the target audience. For instance, if you are located in an area popular for expensive tourism, a Cocktail Bar Bar may be a better choice.

c) Products

Of course, the products you will offer in your bar will depend on the type of bar you are opening.

Here, you should provide an overview of the products you are selling, drinks and/or food. Whilst it’s always good to add details, keep the detailed menu for the appendix instead.

Instead, explain here what are the main products you will sell (if you’re specializing in specific drinks for example) which shall tie into how you differentiate yourself vs. competitors later (see Market Overview ).

d) Pricing Strategy

In this sub-section, you must explain the pricing strategy of your bar. If you have multiple competitors in the vicinity, you cannot have huge pricing variation, especially for the drinks. Pricing will, of course, depend on the type of bar you are opening. 

For instance, if you are going for a College Bar with a major focus on beers, you will most likely charge the standard beer rates. However, if you are offering additional entertainment services, you can charge for that, too.

Similarly, you cannot expect to charge super high like the concept bars if you are opening a Sports Bar. Yes, there can be significant price variations in the food that you are offering.

Create a pricing chart and ensure to provide an average price range for your products. You don’t need to provide exact pricing for each product. For example, if you are selling beer, you don’t need to list each beer brand and its price. You can just use a range instead (e.g. $6 to $9 for a pint).

Adding prices to your bar business plan is very important: it will allow investors to tie your pricing strategy with your financial projections later on (see Financial Plan ).

e) Legal Structure

Finally, your business overview section should specify what type of business structure you want. Is this a corporation or a partnership (LLC)? Who are the investors? How much equity percentage do they own? Is there a Board of Directors? If so, whom? Do they have experience in the industry?

3. Bar Market Overview

A complete understanding of the market where you want to operate is important for the success of your business.

For example, if you intend to open an Irish Pub in an area teeming with a college crowd, that will be a foolish choice. Similarly, if you want to open a Nostalgia Bar and try to attract a music-loving crowd, it will not work.

Only when you understand your target audience and weave your service offerings according to their needs, you will succeed.

Therefore, you must cover 3 important areas in the market overview or market analysis section of your bar business plan:

• Bar industry status quo : how big is the bar industry in your area? What is its growth rate (or decline rate) and what are the factors contributing to its growth or decline?
• Competition overview : how many competitors are there? How do they compare vs. your business? How can you differentiate yourself from them?
• Customer analysis : who is your target audience? What type of bars do they prefer? How regularly do they drink? What type of drinks do they prefer? How much do they spend at bars every month?

a) Bar Industry Status Quo

How big is the bar industry in the us.

The US bar industry is estimated to be at $26.7bn in 2022 , and it registered a growth of 16.4% in 2022. The primary factor driving the growth is the increased per capita expenditure on alcohol. Also, there are approximately 71,634 bars and nightclubs in the country.

How big is the bar industry in your area?

Once you provide the overall picture of the US, divert your attention to the area where you want to operate.

Yet, it might not be possible to find region or area-specific numbers online. In such case, you must estimate the size yourself. Read our article on how to estimate TAM, SAM and SOM for your startup.

For example, if there are 71,634 bars and nightclubs in the country with total annual revenue of $26.7bn, the average annual revenue for each establishment is $372,728. Therefore, if the area where you want to open your bar has 30 operational establishments, you can safely assume that the bar industry in your area is worth approximately $11.2 million.

How fast is the bar industry growing in the area?

You must show the expected growth rate of the bar industry in your area. This information may not be available via online research papers. However, assessing the growth rate will not be difficult.

You can approach each bar separately and ask for their year of establishment. You will get a clear picture of the overall growth rate. For instance, if there were 20 bars in 2018 and 30 bars in 2022, the average annual growth rate is 11%.

What are the current bar market trends in your area?

It is vital to understand the trends of the bar industry in your area. Understanding trends will allow you to devise marketing strategies.

Understanding trends won’t be easy. You must conduct research and talk with your target audience. Additionally, you must also study your competitors to understand their target audience, the products they sell, etc.

Some common questions you may ask the target audience include:

• What type of bars do they prefer?
• At what time of the day do they prefer to visit a bar?
• How frequently do they visit bars?
• What type of drinks and food do they usually order?

You can ask as many questions as you need to understand the evolving trends.

b) Competition Overview

Studying your competitors’ business models is vital. You need to understand what makes them successful or why they fail. A clear understanding of their products and services, marketing strategies, etc., will allow you to provide a better service.

If your competitors are offering nearly the same products & services, then what is their market share and how do they market their products & services to attract new customers?

It is always a good idea to do some research (if necessary, physically visit your competitors without revealing your business intentions) and create a comparative table summarizing their product & service offerings, marketing strategies, target audience, etc.

Here is a sample table that you can use as a reference:

Bar SWOT Analysis

Try to provide a SWOT analysis as part of your competitor analysis too. It must be crisp and highly focused. SWOT stands for Strength, Weakness, Opportunities, and Threats.

Here is a sample that you can use as a reference:

• Strengths : 8 years of experience bartender experience and 6 years of senior management experience in a reputed bar, experienced staff with a minimum of 4 years of experience
• Weaknesses : Startup cost, no initial brand reputation
• Opportunities : A massive campus crowd of legal drinking age, no college bar catering to the specific needs of the campus crowd
• Threats : Increasing rent due to increased demand for commercial spaces, a high street brand will start operations shortly

A clear understanding of your strengths and weakness along with opportunities and threats in the real market can help you to design your marketing strategy . It also helps potential investors to assess the risk and reward profile of your business.

c) Customer Analysis

This is the sub-section where you will provide a detailed analysis of your target audience. You will expand the data points your provided earlier in the Business Overview segment.

Some important points that you must include in your customer analysis include:

• Age and gender distribution (you can get local demographic data from census.gov )
• Per capita expenditure on alcohol
• Frequency of bar visits
• Average monthly income and disposable income
• Average bill size per visit
• Average yearly or monthly spending on alcohol and food at bars
• Type of bars preferred
• The expected price range for drinks and food
• Inclination towards loyalty programs & free perks
• Things they dislike about existing bars and what they expect to be improved

You can add as many data points as required to validate your business decision. The idea here is to display your deep understanding of the target audience and the needs, preferences, and expectations. This knowledge can help you to tailor your products & services to attract new customers.

4. Bar Sales & Marketing

This is the segment where you outline your customer acquisition strategy. Try to answer the following questions:

• What are the different marketing strategies you will use?
• How do you intend to track the success of your marketing strategy?
• What is your CAC or customer acquisition cost?
• What are your USPs?
• What is your marketing budget?
• What promos and offers do you intend to provide for attracting new customers?

Let’s expand a bit on a few questions below:

What marketing channels do bars use?

A few marketing channels that bars typically use are:

• Content marketing (share content like best foods that pair with beer, wine, whiskey, rum, and vodka; how to make crystal clear ice balls or cubes at home, etc.) on platforms like blogs, social media, etc.
• Word of mouth
• Local listing
• Instagram/Facebook ads, etc.

It is not necessary to use all channels. You can start by focusing on a few of them. You can include other marketing strategies later.

Also, you must have a fair and nearly accurate estimate of your marketing budget. Failure to display a well-planned and adequate cash flow for advertising and marketing can lead to investors losing confidence.

What are your Unique Selling Propositions (USPs)?

In other words, how do you differentiate yourself vs. competitors? This is very important as you might need to win customers from competitors.

A few examples of USPs are:

• Happy Hours : Enjoy a 30% discount on all drinks at food between 2 PM and 4 PM
• Free Drinks : 2 drinks on the house for bills above $200
• Price Match : Find a bar with a lower price for the same drinks and we will match the price

Your USP will depend on your business model, competitor analysis, and target audience. Whatever your USP be, it should appeal to your potential customers and attract them. Plus, The USP you offer should be convincing enough for investors and lenders.

5. Management & Organizational Structure

You must address 2 things here:

• The management team and their experience/track record
• The organizational structure: different team members and who reports to whom?

a) Management

Small businesses often fail because of managerial weaknesses. Thus, having a strong management team is vital. Highlight the experience and education of senior managers that you intend to hire to oversee your bar business.

Describe their duties, responsibilities, and roles. Also, highlight their previous experience and explain how they succeeded in their previous roles.

It is also important that you explain how their experiences and qualifications help you in implementing the bar you are proposing. If they have specialized training and education (such as business management, bartender certification, etc.), add that information.

b) Organizational Structure

Even if you haven’t already hired a senior manager, bartender, waitress or waiter, barback, security guard & bouncer, and other relevant staff members, you must provide a flowchart of the organizational structure defining the hierarchy of reporting.

Such a flowchart will demonstrate your management skills and plans to the interested investors or lenders. If necessary, they may even suggest changes to improve the management structure.

6. Financial Plan

The financial plan is perhaps, with the executive summary, the most important section of any bar business plan.

Indeed, a solid financial plan tells lenders that your business is viable and can repay the loan you need from them. If you’re looking to raise equity from private investors, a solid financial plan will prove them your bar is an attractive investment.

There should be 2 sections to your financial plan section:

• The startup costs of your project (if you plan to start a new bar, purchase new equipment, renovate your bar, etc.)
• The 5-year financial projections

a) Startup Costs

Before we expand on 5-year financial projections in the following section, it’s always best practice to start with listing the startup costs of your project. For a bar, startup costs are all the expenses you incur before you open your bar and starting making sales. These expenses typically are:

• The renovation / refurbishment of the building / space
• Equipment & furniture
• Initial inventory
• Licenses & permits

As an example, it costs on average $148,500 to $239,000 to open a hard liquor bar with 80 seats in a premium location.

Note that these costs are for illustrative purposes and may not be fully relevant for your business. For more information on how much it costs to open and run a bar, read our article here .

b) Financial Projections

In addition to startup costs, you will now need to build a solid 5-year financial model for your bar.

Your financial projections should be built using a spreadsheet (e.g. Excel or Google Sheets) and presented in the form of tables and charts in the business plan of your bar.

As usual, keep it concise here and save details (for example detailed financial statements, financial metrics, key assumptions used for the projections) for the appendix instead.

Your financial projections should answer at least the following questions:

• How much revenue do you expect to generate over the next 5 years?
• When do you expect to break even?
• How much cash will you burn until you get there?
• What’s the impact of a change in pricing (say 20%) on your margins?
• What is your average customer acquisition cost?

You should include here your 3 financial statements (income statement, balance sheet and cash flow statement). This means you must forecast:

• The number of customers over time ;
• Your expected revenue ;
• Operating costs to run the business ;
• Any other cash flow items (e.g. capex, debt repayment, etc.).

When projecting your revenue, make sure to sensitize pricing and the number of customers as a small change in these assumptions will have a big impact on your revenues.

7. Funding Ask

This is the last section of your bar business plan. Now that we have explained what your bar is about, the products you sell and to whom, what’s your strategy, where you go and how you get there, this section must answer the following questions:

• How much funding do you need?
• What financial instrument(s) do you need: is this equity or debt, or even a free-money public grant?
• How long will this funding last?
• Where else does the money come from? If you apply for a SBA loan for example, where does the other part of the investment come from (your own capital, private investors?)

If you raise debt:

• What percentage of the total funding the loan represents?
• What is the corresponding Debt Service Coverage Ratio ?

If you raise equity

• What percentage ownership are you selling as part of this funding round?
• What is the corresponding valuation of your business?

Use of Funds

Any bar business plan should include a clear use of funds section. This is where you explain how the money will be spent.

Will you spend most of the loan / investment in paying your employees’ salaries? Or will it cover mostly the cost for the lease deposit and the renovation?

Those are very important questions you should be able to answer in the blink of an eye. Don’t worry, this should come straight from your financial projections. If you’ve built solid projections like in our Bar financial model template , you won’t have any issues answering these questions.

For the use of funds, we also recommend using a pie chart like the one we have in our financial model template where we outline the main expenses categories as shown below.

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How to Write a Bar Business Plan + Free Template

Bar businesses are growing. Especially due to the increase in alcohol consumption and nightlife culture amongst the younger population.

But all of us know that a bar business is much more than just alcohol. It is also a good profession for people who like to socialize, talk to new people, and are lively and cheerful more often than not.

And the best part is no industry giant holds a huge chunk of the market in this business.

Sounds good, right? But before you go ahead and fulfill your long-standing dream of having a bar, you’ll need a bar business plan and we are here to help you with that, Here’s a quick overview of the industry.

Industry Overview

The bar industry stood at a massive market value of 25.09 billion dollars in the US in 2021. And is going through a phase of rapid recovery after being hit by the coronavirus pandemic.

The bar industry covers the broad spectrum of nightclubs, bars, and other such establishments that serve alcohol and snacks. The revenue for nightclubs also comes mainly from the sales of alcohol.

Increased acceptance of alcohol and an increase in disposable income of the younger population, mainly the millennials has led to the growth of the bar business.

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Things to Consider Before Writing a bar business plan

Get all the necessary licenses.

As a bar business staying on the right side of the law is more important than anything. Having all the necessary licenses and permits lets you run your business smoothly and without any chaos.

Here’s a list of licenses that you’ll need:

• Liquor License
• Food Safety Permit
• Fire Safety Certificate
• Music license

You might need more depending on the laws of your state and locality. Get all the necessary permits to avoid hassles as well as to ensure your customers and your own safety.

The location matters ( A lot )

In the case of a bar business, the location is usually the whole and soul of your business. The right location would be a preferred hangout spot for your target audience, easy to access, and not overly crowded.

The factor that the locality has your target audience or not would be a major deciding factor in your bar business’s success.

Know your target audience and their preferences

Knowing about your target audience gives your business the head start it deserves. Study everything from what your target audience prefers when it comes to food and beverages, what additional services they expect, What kind of vibe they prefer, and obviously, what is the right location to cater to them.

Have a unique theme

A major aspect of the bar industry is that it doesn’t really have any big players but several small businesses that compete with each other. And if you want to stand out amongst all the hustle and bustle it is important to have a unique theme that appeals to your target audience.

How Can a Bar Business Plan Help You?

A business plan helps you develop the right perspective toward the industry you plan on entering.

It not only helps you with market analysis and management but also acts as a guide in your business journey.

If you plan your business well, you get an edge over poorly managed entities and unaware owners who did not conduct market research before starting the business.

Specifically, when starting a bar business, a business plan helps you in making cost-effective decisions when you begin, so you don’t have to worry about haphazard finances later.

And as you know the benefits of having a business plan now, let’s discuss how to write an effective plan .

How to write an effective bar business plan?

Although you can write a business plan on your own from scratch, it is always good to get a little guidance when writing one.

Thanks to technology, there are several options available, and you can choose the one that fits the best for you.

You can either go to a business consultant, design your plan based on a predesigned template, or get a customized plan for your business through an online business plan software without going anywhere.

Chalking Out Your Business Plan

All businesses like bars, pubs, lounges, and nightclubs come under the aegis of the bar business. All of these are drinking places that primarily serve and prepare alcoholic beverages.

Moreover, it is an industry where there are no market leaders who hold a big share in the industry’s value, but small fragmented units amongst whom the industry’s value is distributed.

Now it might look like a lucrative business to enter, but a lot of bar businesses fail due to bad financial and employee management. They end up overspending and working their employees to the point of exhaustion.

You don’t have to worry about it though, the above problem has a quick and easy solution: A business plan.

Yes, you heard it right, a bar business plan can help you solve all the management and planning-related problems.

If you are planning to start a new bar business , the first thing you will need is a business plan. Use our sample Bar business plan created using upmetrics business plan software to start writing your business plan in no time.

Bar Business Plan Outline

This is the standard bar business plan outline which will cover all important sections that you should include in your business plan.

• Business Overview
• Mission Statement
• Guiding Principles
• Keys to Success
• Start-Up Summary
• Location and Facilities
• Products/Services Description
• Competitive Comparison
• Product/Service Sourcing
• Inventory Management
• Future Products/Services
• Market Size
• Industry Participants
• Market Share
• Applebee’s Pinto’s Bar and Grill 6706
• Cococabana Bar & Grill
• Flanigan’s Seafood Bar & Grill
• Market Segments
• Market Tests
• Market Needs
• Market Trends
• Market Growth
• Positioning
• SWOT Analysis
• Strategy Pyramid
• Unique Selling Proposition (USP)
• Competitive Edge
• Positioning Statement
• Pricing Strategy
• Promotion and Advertising Strategy
• Marketing Programs
• Sales Forecast
• Sales Programs
• Exit Strategy
• Organizational Structure
• Management Team Gaps
• Personnel Plan
• Important Assumptions
• Startup Expenses
• Startup Assets
• Source And Use Of Funds
• Profit & Loss Statement
• Balance Sheet
• Cash Flow Statement

Before you get started with writing your business plan, let’s understand each section in detail:

1. Executive Summary

An executive summary is the most important document of your business plan. It is crucial to get you funded as a business as it sums up everything your business stands for.

Chances are that the investors might not even read beyond this section.

Therefore, when you write it make sure you sum up your business idea and its functions properly.

2. Business Overview

In this section, you will include an overview of all the chief needs of your business.

In a bar business plan, the chief aspects would include the location and its accessibility, the legal rules regarding alcohol followed by the area as well as the primary legal formalities involved in running a bar.

3. Products and services

This section includes all the products and services you’ll offer.

Resources for getting the products, especially in the case of a bar business the formal procedures involved in acquiring alcohol should be included.

It is also good to note down the differentiating factor between your and your competitor’s product.

4. Market analysis

Market analysis is another crucial aspect of a business plan. It comes in handy while assessing strategies and techniques that work and do not work by analyzing your competitors.

It also helps you get information about the size of the market and its growth potential.

It helps you to know your target audience and segment of the market that forms the majority of your client base.

5. Marketing strategy and implementation

Based on market analysis, next up you’ll formulate your marketing strategy.

While formulating your marketing strategy you should always keep your unique selling point and target market in mind.

Apart from that your positioning in the industry is also a critical aspect of your strategy implementation.

In addition to all of the above, advertising strategy is an aspect a bar business has to pay special attention to, as a direct advertisement of alcohol isn’t allowed on various media platforms.

6. Organizational Management

This step is also especially important in a bar business plan to avoid overworking employees, create good and respectful relations amongst the team, and have strong teamwork.

You should also include various roles and responsibilities of different people in your organization as well as ways of tracking their performance in this section.

7. Financial Plan

A financial plan is important because it prevents you from overspending and optimally distributes your cash flow amongst various segments of your business.

Apart from that in a financial plan, you can also carry out an analysis of your financial history as well as  funding options for your business.

The above-mentioned order can help you write a well-rounded plan. But most importantly, while starting a bar business it is important to keep the legalities involved in mind.

You should always watch out for the current and potential alcohol laws that would have an impact on your business and frame your business strategy accordingly.

Hence, you should frame a business plan that is flexible and dynamic and thus, can help you succeed in the bar and pub industry.

Download a sample bar business plan

Need help writing your business plan from scratch? Here you go;  download our free bar business plan pdf  to start.

It’s a modern business plan template specifically designed for your bar business. Use the example business plan as a guide for writing your own.

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Bar Business Plan Summary

A bar business can be extremely successful and smooth if you go about it with a business plan.

A business plan helps you keep all the facets from legal to financial ones in mind while running a bar business, thus making the process easier and quicker.

After getting started with Upmetrics , you can copy this sample bar business plan template into your business plan, modify the required information, and download your bar business plan pdf or doc file.

It’s the fastest and easiest way to start writing your business plan.

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Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Writing a restaurant business plan.

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Introduction

If you're considering opening a restaurant, your first step should be writing a business plan. A well-written business plan can help you raise money, manage your restaurant and succeed. Here's what you need to know about writing one:

Executive Summary

An executive summary is a short but powerful document that can help you to get your point across quickly and effectively. Although it is usually the first section of a business plan, it should be the last piece written. It should be one page at maximum and clearly describe your business plan's critical points in a way that makes sense to anyone who reads it. The purpose of an executive summary is to convince potential investors or lenders that they will profit from investing in your restaurant idea, so avoid unimportant details or lengthy descriptions of how great your food tastes.

An excellent way to write an executive summary is by starting with an introduction paragraph that summarizes what the rest of your plan contains—this helps readers understand why they should continue reading further into the document. Then go into discussing why this particular project is worthwhile; why people need it. How will it benefit them? Next comes some background information about yourself: include any relevant experience or education related to running this business. Finally, end with future goals: where do you see yourself after opening the shop?

Here are some items to include in your restaurant business plan:

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Before you launch your business, it's important to validate your concept and test the viability of your business model. You can do this by conducting market research, talking with potential customers, and interviewing industry experts with similar business experiences. You can also test the viability of your plan by completing an "experience economy" analysis. That is, looking at ways people enjoy spending money on experiences rather than goods (such as dining out). For example, if people value experiences over material goods, opening a restaurant may be a good idea!

Labor Costs and Staffing Plan

Labor costs, including direct and indirect labor, are essential to your labor budget. Direct costs refer to wages paid directly to employees, while indirect expenses include benefits like healthcare coverage and payroll taxes. To calculate these figures, you'll need to estimate the number of full-time equivalents (FTE) positions you'll need and their average salaries. This calculation can be tricky because each restaurant has its unique staffing plan based on its size, location, cuisine type, and reputation among customers, not to mention any other factors that might affect staffing decisions (e.g., whether it's open 24/7).

The first step is deciding whether or not you want full-time staff or part-time workers who work only during peak times such as lunchtime rush hour or Friday night dinners out with friends at restaurants nearby yours. As tempting as it may seem, wait to write anything down until after reading through the following sections because several factors are explicitly related to determining how many people we'll need overall.

You want your menu to be focused and simple. Try to add only a few items, as too many menu items may confuse customers, making it difficult for them to choose what they want.

If there are any "signature" items on your menu, include them first when listing off your offerings so that people know what kind of food you serve before even stepping inside the restaurant. Also, incorporating local ingredients into these specialties will help build community spirit around supporting local businesses.

Site selection is a critical factor in your success. After conducting a comprehensive market study, the site selection is based on the data you discover to determine if your customers are in and frequent that area. David Simmonds, Founder and CEO of ResolutRE , a Commercial Real Estate firm in Austin, Texas, states: "More than ever, entrepreneurs opening a restaurant need to analyze what their own customers look like on paper (demographics, psychographics, etc.), so then when they are examining a market, they can find the highest concentration of their customers within that market. From that data, they are able to determine the number of restaurants that the market could support, and from there, create the blueprint for their expansion."

Your plan should describe your ideal location . Your chosen location must be close to your target market and similar businesses, such as restaurants or cafes. The site should also have high foot traffic and be accessible by car, bike, and public transportation. Simmonds goes on to say: "Analytics reinforces or disputes instincts. It is a necessary part of the expansion process, whether the restauranteur has 1 unit or 37.

Marketing Strategy

When developing your business plan, think about the marketing strategy you will use. Your plan should consider and explain the following marketing tactics:

• Advertising: You can use print or online ads on social media sites like Facebook and Instagram. Also, consider running commercials on local television stations.
• Public relations: This can include writing articles about your restaurant in local newspapers or magazines, hosting events at your restaurant (such as wine tastings), speaking at community events like Chamber of Commerce meetings with other business owners in the area, participating in charity events related to foodservice industries like Feeding America—the possibilities are endless! The idea is to get people talking about what makes YOU unique so they think of YOU first when ready for their next dine-out experience!
• Social media: Let's face it—most millennials don't even pick up the phone anymore; they prefer texting over talking face-to-face because it feels intimate somehow, and guess what? By interacting directly with customers through social media platforms like Facebook Messenger or WhatsApp (which allows users from all over the world access 24 hours per day, seven days per week), we can offer immediate customer service support during high-demand times such as weekend brunch hours without having employees sitting idle during slow periods throughout weekdays when traffic drops off significantly due the lack of demand generated elsewhere.

Profit and Return on Investment Analysis

• Profit is the difference between your sales revenue and your costs. To calculate it, you need to know the following:
• Sales revenue (how much money you expect to make from selling food)
• Cost of goods sold (the cost of ingredients and supplies)
• Other operating expenses (including labor, rent, and utilities)

The reader of your business plan should be able to find these numbers in your budgeting worksheet and financial projections spreadsheet.

Financial Plan

The financial plan is the most critical part of your business plan. It should clearly show how much money you need to start, run and grow your restaurant.

You will need to show a projected profit and loss statement. The projected profit and loss statement (P&L) shows how much revenue comes in, what expenses are incurred, and what profits are made over time. In addition, the P&L shows all revenue sources, including but not limited to sales of food/alcoholic beverages and income from private parties. It must also project all costs associated with operating the restaurant, such as Cost of Goods (raw materials) and salaries for employees - these include both front-of-house roles such as waiters or bartenders, as well as back-of-house roles like chefs who prepare food during off hours so it can be served fresh upon opening each day - cleaning supplies needed throughout each week, etc., depreciation costs associated with long term assets such as ovens that wear down over time and waste of unused food product.

Multi-Year Projections of Revenue and Costs

Accurate projections are the key to a successful business plan. They help you to understand how much money you will make and how much you will need to make it happen. Projections also help with understanding what your costs will be.

For example, if I were starting a restaurant today and wanted my business plan projections for opening day and going out one, three, and five years.

Then I would look at similar restaurants that serve similar foods, noting their prices, portion sizes, and any specialties they offer, such as breakfast all day or lunch specials every Friday during football season. This research of other restaurants will give you a basis for your projections. Include the documentation of this research in the narrative of the plan.

A Business Plan Is Your Road Map To Success.

A business plan can help you raise money by demonstrating that you have a viable idea for a restaurant. In addition, investors want to see that others are interested in investing in your vision, so they'll be more likely to give you money if they see other investors involved with it as well. An excellent example is when an investor wants to invest but only if another investor does first; this way, both parties feel comfortable investing because they know someone else believes in the project enough to put their own money into it too!

A well-written business plan helps manage restaurants by giving owners information about how much money will be coming in over time, so there aren't any surprises when bills come due every month - which could lead businesses into trouble if left unchecked."

This article has given some insights into how to write a business plan for opening a restaurant. Do your research and learn other aspects of good business plan writing. I know that it can be a lot of work, but I also know that the payoff is worth it. Not only will you have a better understanding of what it takes to open up shop and run it successfully but also potential investors will be more likely to fund your project if they see that you've done your research. And remember: don't be afraid to ask other restaurant owners for help or advice; many of them have been where you are now.

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Bar Business Plan

Do you want to put up a bar as a business ? If this has been your aspiration or desire for a long time already, make sure that you have the proper processes and business plan guidelines that can help you present your bar business plan to your target audience in the best way possible. In this article we will discuss how you can write a business plan for your bar startup.

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What Is a Bar Business Plan?

Like any other business plan, this specifically helps owners have a plan for their bar. It contains business goals and a timeframe to achieve them. It serves as a blueprint that guides bar owners in running day to day operations, drawing a growing number of patrons, and becoming a reputable establishment. It is also for getting financial support from potential partners and a guide for the management and operational processes of the business.

How To Draft a Bar Business Plan

No matter the purpose of your bar business plan, it is important for you to identify your business’ vision and mission. That way you can create a business plan that is necessary and helpful for the needs of your business. Check out restaurant and coffee shop business plans as a reference to get started. If you need more ideas, check out these tips in creating a bar business plan.

1. Be Aware Of The Market

Before you begin your business plan, understand the dynamics of the market for bar establishments. Knowing the needs of your customers, the trends that dictate the shift in the marketplace, and the way your competition reacts to certain scenarios can help you properly and carefully execute action plans for your bar business’s growth may it be in reach, actual sales, or brand awareness.

2. Create An Executive Summary

Come up with a bar business plan executive summary that can showcase the mission and vision of the business. You also have to make sure that this overview of what the business plan is all about should contain the principles and values that guide your business as well as the key factors that you need to consider for your successes.

3. Make An Organizational Structure

Describe the company and the nature of its operations before giving details about ownership and management. A start-up summary is most likely helpful in ensuring that the business will follow legal procedures and regulations for its operations.

4. List Down Your Resources

It is important for you to present the financial aspect of the business so that you can attract potential partners and investors, if necessary and applicable. Include information about your products and suppliers as well so that you can keep track of where you can get resources.

What are cocktails?

Cocktails are alcoholic beverages made of spirits and other ingredients such as fruit juice, soda, etc. They are one of the things commonly ordered and consumed in a bar. There are many kinds with varying ingredients, flavor, and appearance.

What makes a nightclub different from a wine bar?

While both places serve alcohol, the set up of the place is different. A nightclub is more focused on the entertainment of the patrons by providing drinks and music. In contrast a wine bar is a tavern-like establishment and tends to have a more relaxing ambiance like bistros.

What makes a tavern different from a bar?

Both places sell alcoholic beverages , but what makes them distinct from each other is that a bar does not necessarily serve food. A tavern on the other hand sells food and would often provide lodging. Taverns are an establishment that has existed for many centuries while bars started in the past few decades.

According to Statista research, sales in the drinking place sector in the United States have reached $23.15 billion in 2015. With the right kind of business plan your bar will certainly make sales that’ll contribute to such a number in the future. If you need more ideas on how to create a business plan then check out our business proposals and marketing strategy examples as references.

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LCBO to open 5 stores starting next week for bar and restaurant owners to shop amid strike

By Richard Southern

Posted July 5, 2024 12:53 pm.

Last Updated July 5, 2024 6:48 pm.

All LCBO stores are closed to the public due to the workers’ strike, but 680 NewsRadio has learned that five locations will open starting July 10 for bar and restaurant owners only.

Wholesale customers will be able to book an appointment 12:00 p.m. and 4:00 p.m. to shop in-store at the five select locations in Toronto, Mississauga, Woodbridge, London, Ottawa. The exact locations are unknown at this point.

This is the process that will continue until the select LCBO locations open to the public on July 19 with management staffing the cash registers. At that point, 32 locations will open from Friday to Sunday for limited hours.

Bar and restaurant owners will also be able to place online orders for delivery three to seven days later, though it’s not clear how this process will work as Ontario Public Service Employees Union (OPSEU), the union representing LCBO workers, have pledged to picket warehouses.

While there are questions about bars and restaurants getting the liquor they need, there is no concern regarding their supply of beer and wine.

Bars and restaurants in the province buy beer from the privately-run The Beer Store which is not impacted by the LCBO strike.

Wine can also be sourced from local wineries, though the selection is not as great as what the LCBO offers.

OPSEU’s Colleen Macleod was asked about the plan to open five stores, and said it was news to them.

“So I guess the political pressure is on so I’m guessing that they said, ‘Okay, we’ll open five stores.’ Do I know what our picket strategy is right now? I just found out the news, so no.”

OPSEU president JP Hornick told CityNews, “That would be crossing the picket line so it would be chaos.”

680 NewsRadio has reached out to LCBO management for their response.

More than 9,000 LCBO workers walked off the job at 12:01 a.m. on Friday after failing to come to an agreement with management. A major sticking point, according to the union, has been the plan to sell beer, wine and ready-to-drink beverages at convenience stores and grocery stores across the province.

OPSEU said the current plan from the Ford government could mean thousands of lost jobs across the province along with millions of dollars in public revenue.

The provincial finance minister’s office tells CityNews even as successive governments have expanded alcohol sales to stores, bars and restaurants, LCBO revenues and the dividends paid to the government have continued to grow year-over-year.

As for OPSEU’s main sticking point regarding the sale of ready-to-drink beverages in convenience and grocery stores, the ministry points out that those beverages make up just over nine per cent of all LCBO sales.

Currently, there are no bargaining dates scheduled and MacLeod said they won’t go back to the table until they see some movement from the province on the ready-to-drink issue. The government says it is “more committed than ever” to its plans.

The province has encouraged Ontarians to use the current other options available during a strike.

“We encourage people across Ontario to take advantage of the thousands of available options, including local breweries, wineries, cideries, distilleries, restaurants, bars, LCBO convenience outlets, grocery stores, and The Beer Store.”

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Spirited ‘Funny Girl’ captures excitement of early musical theater

The show that made Barbra Streisand famous is playing at Maine State Music Theatre through July 13.

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Jenna Lea Rosen as Fanny Brice with the cast of “Funny Girl” at Maine State Music Theatre. Photo by MSMT/Jared Morneau Photography

Who are the luckiest people in the world? At least for theater fans, the answer is “people who need people,” a line made famous well over half a century ago by Barbra Streisand in the original production of the musical “Funny Girl.”

THEATER REVIEW

WHAT: “Funny Girl: the Musical” by Maine State Music Theatre

WHERE: Pickard Theater, Bowdoin College Campus, Brunswick

REVIEWED: June 28 (matinee); continues through July 13

TICKETS: Starting at $93

CONTACT: 207-725-8769, msmt.org

On the heels of the show’s recent Broadway revival, the Maine State Music Theatre has opened a spirited production of the classic musical on its home stage at the Pickard Theater on the campus of Bowdoin College in Brunswick.

The show primarily captures the rousing excitement of early musical theater while unavoidably making us think about how it launched the career of Streisand. At a lengthy but enjoyable two-and-one-half hours, plus intermission, it’s a show that still charms with its memorable songs, old-style comedy and bittersweet love story.

The impressive production, directed and choreographed by Kenny Ingram and with the time-honored music of Jule Styne, lyrics by Bob Merrill and book by Isobel Lennart, tells the semi-fictionalized story of Fanny Brice, a real-life figure who rose from humble origins to showbiz stardom as a give-it-everything-you’ve-got performer in the early 20th century.

At first socially awkward and vulnerable, but with a unique talent and an admirable determination to succeed, Fanny gained the attention of famed impresario Florenz Ziegfeld, Jr. and went on to star in many of his glitzy stage shows. At the same time, Fanny’s personal life was a bit of a rollercoaster ride.

Jenna Lea Rosen takes the lead role and scores comedically with her initially wide-eyed approach to Fanny’s personal and professional challenges. Armed with a feisty “New Yawk” accent, the actress easily takes charge of backstage, front stage and offstage scenes. Her vocals are compelling on both comic numbers (“Sadie, Sadie” and “Rat-Tat-Tat-Tat”) and in more intimate moments (“People” and “Don’t Rain On My Parade”). Advertisement

Douglas Raymond Williams plays Fanny’s handsome rogue of a love interest who brings her to a fuller life but fails her in the end. His opera-trained vocals alongside Rosen (“I Want to be Seen With You” and “You are Woman, I am Man”) establish both the heat and uncertainties within their relationship.

Among the many standout secondary actors and choristers, Tyler Johnson-Campion is a tap-dancing whiz. His work with Sue Cella, who plays Fanny’s mom, is a treat on “Who Taught Her Everything.” Cella also has some fun moments squabbling with a competitive friend played by Maine State favorite Charis Leos.

Tommy Betz shines as a Tenor and David Girolmo returns to the Pickard stage as the stern but supportive Mr. Ziegfeld. Jeremiah Valentino Porter gets to toot a hot horn on “Cornet Man.”

The Maine State Music Theatre Orchestra, led by Jason Wetzel, mixes up the period flavors with a newer Broadway expansiveness. The costumes designed by J. Theresa Bush and scenic design by Jeffrey D. Kmiec take the audience back to a distant era when musical theater and its early stars were on the rise.

Steve Feeney is a freelance writer who lives in Portland.

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Money blog: 'We have never seen such a spike': Popular coffee brand issues price warning

Welcome to the Money blog, your place for personal finance and consumer news and tips. Leave a comment or your Money Problem/consumer dispute (don't forget to leave a contact number/email) in the box below.

Wednesday 10 July 2024 22:59, UK

• 'We have never seen such a spike': Popular coffee brand issues price warning
• Major four-day week trial being launched
• UK companies with best customer service revealed

Essential reads

• We asked beauty experts for their top dupes to give you a summer glow - without breaking the bank
• Michelin chef reveals £2 supermarket pasta that can elevate your dinners - as he picks his Cheap Eats in London
• Basically... What are the different ways of paying for a car?
• Women in Business : From blackouts to CEO - how burnout helped create UK's biggest venue booking platform
• Best deals on school uniform ahead of new academic year
• Further reading: Ian King answers your questions on what Labour government means for your personal finances

Ask a question or make a comment

The Danish capital might not be what comes to mind when you think of a cheap holiday - but if you're willing to help the community, you can earn yourself freebies and discounts. 

Under a new scheme being trialled, visitors to Copenhagen can claim anything from a free lunch or glass or wine to a free kayak rental. 

They can earn these freebies by completing tasks such as litter picking, travelling by public transport, cycling or volunteering in an urban garden. 

The CopenPay scheme is being trialled from 15 July until 11 August. 

Twenty-four attractions in the city are signed up to take part, including the Museum of Copenhagen - where you can claim a free coffee if you've walked there, travelled by bike or used public transport. 

On certain dates, you can earn a free one-hour GoBoat cruise around the city, or a 45-minute free bike ride with Donkey Republic. 

Officials have said if the trial is deemed a success, CopenPay could be rolled out throughout the year.

Yesterday it was the cost of tea that was on the rise, now it seems coffee isn't safe from imminent price hikes either... 

Caffeine lovers have been warned that the price of a cup of coffee could keep increasing for at least another year. 

Industry giant Lavazza said "very challenging headwinds" meant UK prices will not drop until the middle of 2025 at the earliest.

Poor harvests in Brazil and Vietnam, geopolitical conflict and supply chain disruption have all contributed to costs reaching record levels, said the group's chairman, Giuseppe Lavazza.

On Monday, prices reached an all-time high of £3,356 a tonne.

"We have never seen such a spike in price as the trend right now," said Mr Lavazza.

For consumers, this has meant the price of a 1kg bag of beans has already risen by 15% in a year. 

Mr Lavazza said this could increase by 20% to 25% over the next 12 months.

Meanwhile, a flat white at the firm's flagship cafe in London now costs £3.50 to take away or £5.50 to have in.

"We have faced very, very strong headwinds. I don't see any reason why coffee prices will go down," Mr Lavazza added. 

The UK retail coffee market is worth £1.3bn, growing by 3.9% year-on-year and driven by price inflation of 3.8%, according to Nielsen figures. 

Yesterday, the Indian Tea Board warned average tea prices could rise by up to 20% after extreme weather caused poor harvests. 

In the last week of June, the typical price of Indian tea leaves rose to more than £2 per kg, it said. 

You can read more about that here ... 

The UK's biggest supermarket chain has told customers its Express stores across England will close at 7.30pm instead of the usual 10pm or 11pm if the Three Lions reach the final of the Euros. 

It said the decision had been taken to allow its staff to get home or to the pub in time for kick-off at 8pm. 

Employees who do not want to watch the match will be paid as normal, it said. 

Stores will be open as normal the following morning. 

England are playing the Netherlands this evening in the semi-finals. 

If they get through, they will face Spain in the final - and will have the chance to become the first England men's team to win a major tournament since the World Cup in 1966. 

HSBC is increasing the amount it will lend for most mortgages.

At the same time, the bank is ditching its 65% and 80% loan-to-value offers.

The maximum amount of money that can be borrowed on an 85% LTV has risen the most, ballooning by 150%.

Here are the changes in full:

• 95% LTV: From £500,000 to £570,000
• 90% LTV: From £550,000 to £750,000
• 85% LTV: From £750,000 to £2m (or £1m for flats)
• 75% LTV: From £2m to £3m
• 70% LTV: Increased to lending over £3m

"This could make the difference between someone being able to buy the property they want or need, or having to compromise by buying a smaller property with fewer bedrooms, or maybe in an area that is outside the catchment area of their preferred school for their children," said Chris Pearson, HSBC UK's head of intermediary mortgages.

Campaigners are launching a major new four-day working week trial in the hopes of winning over the new government.

Participating companies will begin the scheme in November before the findings are presented to the government next summer.

Some 54 of the 61 companies that took part in the first 4 Day Week Campaign pilot continued to use it after the study finished.

Director Joe Ryle told  The Guardian he was optimistic a Labour government would be more receptive than the Conservatives.

"Change is in the air and we hope to see employers embracing this change by signing up to our pilot," he said. 

"The nine-to-five, five-day working week was invented 100 years ago and is no longer fit for purpose. We are long overdue an update."

You may remember we reported on the success of the first trial here...

The quality of customer service is deteriorating across the UK's biggest companies, according to a new report.

A survey of 60,000 people about 275 major firms found satisfaction levels were at their lowest since 2010.

Customers reported a decline in complaints handling, as well as worse customer experience and a more negative view of company ethics, the Institute of Customer Service found.

"The current outlook isn't where we need it to be, despite our research showing that higher levels of customer satisfaction correlate with financial stability and growth," said Jo Causon, chief executive of the Institute of Customer Service.

"Business leaders need to understand the evolving needs and expectations of their customers, developing their organisations' approach accordingly to unlock the sustainable growth the economy needs."

The ICS's Customer Satisfaction Index rates satisfaction on a scale out of 100, with the overall score across all 275 companies standing at 75.8, a drop of 0.8 points on a year ago and 2.6 points below its high of 78.4 in July 2022.

Utility providers were the worst offenders, with a satisfaction rating of 69.8 out of 100 - though it was the only industry to see a slight uptick (0.3 points).

Digging into the data further, and water companies - plagued by sewage spills and rising bills - were the most disappointing among utilities, dropping to 69.5 points.

Tourism, leisure, retail, banks, automotives, insurance, public services and transport industries all saw a decline.

Satisfaction fell fastest over the last year in the telecommunications and media sector, down 2.1 points to 73.3/100.

On the other end of the scale, Timpson, Nationwide and John Lewis scored highest among individual companies - between 85 and 86 points.

Taylor Swift, Elon Musk and Martin Lewis are among celebrities whose identities are commonly misused by scammers, data suggests.

Martin Lewis's face and name have been used to steal £20m over the last two years, MoneySavingExpert found after analysing Action Fraud figures.

Some £500,000 was reported lost to one scam featuring Mr Lewis.

"It's likely that the criminals pumping out these scam ads effectively use their own in-house dark web digital marketing teams, researching which celebrities and advert types get the best click through rates, and honing the way they work to be able to attract more victims," said Mr Lewis.

"If it's an ad with me in, it's always a scam, as I don't do adverts."

The King, Jeremy Clarkson and Rishi Sunak have also been used by scammers. 

MoneySavingExpert asked Action Fraud to supply the data based on a list of celebrities it had created after asking people on social media who they had seen in scam ads. 

"Topping this list is about the worst compliment I've ever had," said Mr Lewis.

Below are the top 10 high-profile figures whose identities have been misused, with the percentage of total mentions in scams:

Ticket scams are rife as criminals seek to cash in on the popularity of Swift's Era's tour.

Fans have lost out on an estimated £1m since UK tickets for her tour went on sale last July, according to data published by Lloyds Bank.

Mentions of cryptocurrency, investing, retirement planning and promises to get rich quick are also particular warning signs to look out for in scam ads, MoneySavingExpert warned.

Every Wednesday we ask Michelin chefs to pick their favourite Cheap Eats where they live and when they cook at home. This week we speak to Benjamin Ferra Y Castell from one-starred  Pavyllon in London.

Hi Benjamin, can you tell us your favourite places in London where you can get a meal for two for less than £40?

1. Saint George Cafe

This is a French bakery offering delicious sandwiches made with high-quality products. Their bread is made by a French baker with a specially selected flour. 

The pastries are also amazing - using high-quality butter and the chocolate used in the pain au chocolate makes it one of my best sweet treats in the city. On top of all of this, their coffee is some of the best in London.

2. Tachbrook Street Market  in Pimlico

This market is really affordable and convenient and away from the hustle and bustle of Victoria Station. 

I used to go with my wife who loves spicy food, especially to a Thai food stand on the left part of the market which is a must-try. 

If you come back often enough as I do, they sometimes give a nice discount! 

Authentic Thai food made with love, available for less than £10 for a substantial portion.

3. Bar Italia in Soho

Offers great Italian coffee with authentic products from different regions of Italy. 

You can try different sandwiches and they have an excellent burrata. They serve real coffee, how it should be made.

What is your "go-to" cheap eat to cook at home when you have a night in?

I would suggest a nice vegetable appetiser, something fresh and flavourful which is cheap and tasty as long as it's seasonal. 

At home, when the first heirloom tomatoes come into season, I slice them and season with olive oil, fresh herbs and some anchovies on top - seasoning generously is a must! 

Try to buy smart, local and according to the season - that's one of my favourite tips.

I also recommend a nice pasta when cooking at home, using a brand called Rummo (note from Money team: their range is available from Ocado for around £2), served alongside delicious seafood. 

Go early to Billingsgate fish market, to buy quality seafood direct from fisherman. It's also usually cheaper and always fresher. Plus, you can negotiate a bit!

We've spoken to lots of top chefs and bloggers - check out their cheap eats from around the country here...

By  James Sillars , business news reporter  

A stronger open for the FTSE 100 today after financial and energy stocks dragged yesterday. 

The index was 0.3% up at 8,161 following the 0.7% hit of the previous session.

Part of that decline was a double-edged sword as it was linked to lower oil prices.

In better news for drivers, Brent crude touched $84 a barrel and was a further 0.7% down as some market concerns over tight supplies eased.

Chinese economic data was also seen as pouring cold water on prospects for higher demand in the world's second-biggest economy.

Weaker profit estimates from BP also led the market down.

Companies reporting on their progress today included JD Wetherspoon.

The pub giant reported a 5.8% rise in comparable sales over the 10 weeks to 7 July.

It was likely aided by Euro 2024 and in spite of unseasonably wet weather, which has been blamed for hitting consumer spending more widely.

Its shares were 0.1% down in response.

The performance likely reflected the fact that the sales growth figure was lower than the 11% rise achieved in the same period last year.

Wetherspoons also highlighted cost pressures from wages and some products.

By Emily Mee, Money reporter

If TikTok is anything to go by, many of us are seeking that Sabrina Carpenter bronzed look this summer (me included). 

But without a pop star's team of make-up artists and the bank account to boot, how can the rest of us get that perfect glow? 

We've asked four beauty experts to give us their top affordable dupes for high-end products. Here's what they said (before one of them reveals the product you should never skimp on)... 

Suzanne Baum , freelance beauty editor

For Suzanne, affordable make-up brand e.l.f. can't be beaten for its dupes: "Super affordable, long-lasting and provides a perfect finish for a summer glow." 

These are her picks from the brand... 

e.l.f. Bronzing Drops, £12 

It's a dupe for... Drunk Elephant's D-Bronzi drops, £34

"A nourishing tinted serum for a sun-kissed glow," she says. 

Just add one to three drops to your moisturiser, face oil or body cream.

e.l.f. Halo Glow Liquid Filter, £15 

It's a dupe for...  Charlotte Tilbury Flawless Filter, at £39

"A multi-purpose, liquid glow booster that gives your complexion a soft-focus social filter effect IRL," says Suzanne. 

Wear on its own for sheer coverage, under foundation as a luminous base, as a highlighter or mixed with foundation for a dewy glow.

e.l.f. Power Grip Primer, £10 

It's a dupe for...  Milk Makeup Hydro Grip Primer, £35 

"A gel-based, hydrating face primer that smooths skin while gripping your make-up," Suzanne says. 

e.l.f. Halo Glow Contour Beauty Wand, £9 

It's a dupe for...  Charlotte Tilbury Beauty Light Wand, £30 

"A liquid contour wand with a cushion-tip applicator for a naturally sculpted complexion," the beauty expert says. 

Apply to your hairline, temples, sides of your nose, hollows of your cheeks and jawline, then blend with a brush. 

e.l.f. Camo Liquid Blush, £7

It's a dupe for.... Rare Beauty Soft Pink Liquid Blush, £24

"A long-lasting liquid blush that delivers a high pigment pop of colour to cheeks with a dewy finish," says Suzanne. 

e.l.f. Glow Reviver Lip Oil, £8 

It's a dupe for... Dior Lip Glow Oil, £32 

"An ultra-glossy tinted lip oil that nourishes, hydrates and enhances your lips' natural colour," Suzanne says. 

Joyce Connor , make-up artist  

For Joyce, she'll often go for the high-end brands over dupes - but there was one product that she thought was even better than the original. 

Here are her picks... 

Revolution Pro CC Perfecting Skin Enhancer, £10

It's a dupe for... IT Cosmetics CC+ Nude Glow, £37

The IT Cosmetics product is Joyce's go-to, but she says the Revolution version makes for a "very good" dupe. 

She says it gives a "nice glow without being shiny, because in the summer we don't want to be caked in make-up". 

It is worth noting that the IT Cosmetics version includes SPF 40, whereas the Revolution one does not. 

Apply before foundation for an added glow. 

Boots Glow Essence Serum, £5 

It's a dupe for... Glossier Future Dew Facial Oil Serum Hybrid, £30

There's quite a difference in price here, and Joyce says the Boots version gives a "nice sheen" under your foundation. 

However, she notes the Glossier product has a more golden tint. 

Massage two to three drops onto your skin before moisturising. 

Avon Radiance Ritual Touch Of Gold Body Oil, £5

It's a dupe for... Sol De Janeiro GlowMotions Glow Body Oil, £35

For added glow, massage into the skin and do not rinse - or you can use it as a bath oil. 

NYX Professional Makeup Fat Oil Lip Drip Lip Gloss, £7.99

It's a dupe for... Dior Addict Lip Glow Oil, £32

"To be honest, I prefer the Fat Oil to the Dior one," says Joyce, picking it out as her favourite dupe. 

"It lasted longer on my lips. I didn't have to top it up as quickly. I like the sheen of it. The colour was lovely," she raves. 

Sue Moxley , beauty expert  

Sue believes you don't have to spend a fortune to get quality products - and she's a fan of "good old" Revlon and L'Oreal. 

Revolution Fix and Glow Setting Spray, £8.99

It's a dupe for... Charlotte Tilbury Hollywood Flawless Filter, £39

Okay, this isn't a direct dupe as it's a setting spray rather than a foundation. But Sue says if you pair this with your favourite foundation, it should give you that "wonderful flawless glow" similar to Flawless Filter. 

She recommends spraying it about 10 inches from your face all over and allowing it to dry for a few minutes. 

NYX Bare With Me Blur Tint Foundation, £9.99

It's a dupe for... Jones Road What the Foundation, £42

A good alternative to the trending Jones Road foundation is NYX's Bare With Me, which Sue says "smoothes pores but looks really light and natural". 

"Apply with a make-up brush all over your face for a professional finish," she says. 

Lacura Luminous Filter Foundation, £5

It's a dupe for... Clinique Even Better SPF15 Foundation, £34.50

TikTok went wild for this Aldi dupe, which Sue says is an alternative to the "high end glossy foundations". 

"It's such a bargain - it's definitely up there," she says. 

She recommends applying all over with a sponge, pressing rather than rubbing into the skin. 

Rimmel Natural Bronzer, £6.99 

It's a dupe for... Iconic London Kissed By the Sun Bronzer, £25

Sue says this is a light bronzer that "glides on easily with a blusher brush". 

Swirl it on the hollows of your cheeks, up to your temples, down underneath your jawline and on the bridge of your nose. 

So, how much difference is there between the dupes and the high-end products? 

You might be wondering just how noticeable the difference is if you go for the cheaper alternative. 

It's a difficult question to answer as it can vary from product to product - and not all the experts we spoke to were in total agreement. 

Sue Moxley says a lot of the lower end budget brands use similar ingredients to their more expensive counterparts. 

"You can get better packaging or the quality of the packaging is better, but it's also the brand name that is putting the prices up," she says. 

The high-end brands do put extra ingredients in, she says, but "they don't warrant the amount of difference in price". 

"It's still lovely to go and buy a Chanel lipstick or something and have it in your bag and it makes you feel wonderful. You get it out and it's gorgeous packaging and you put it on in the restaurant," she says.

"It does make you feel good, but I do believe that there are products out there that are equivalent in quality and ingredients wise." 

But Joyce Connor says the high-end brands are often worth it - although she does say you can "mix and match". 

More expensive brands rarely sell single-ingredient products, she says, and this can make a difference in terms of what you're getting. 

For example, she says an own-brand hyaluronic acid cream will often have that single ingredient but a similar product from a high-end brand will likely include peptides and ceramides - all providing extra value. 

One item not to skimp on

Joyce says if you're going to spend money on anything, it should be your moisturiser so you can get a perfect base for your make-up. 

"There are plenty of dupes out there that that are going to be effective as long as you are moisturising," she says. 

Her pick is the Goldfaden MD Vital Boost Even Skintone Daily Moisturiser - but at £60 for 50ml, that might be a bit much for some. 

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