Do you live in Nigeria and you want to open your own restaurant? Are you in love with cooking and want to turn your passion into a business? If your answer to these questions is yes, then you should get a restaurant business plan sample.
With an efficient restaurant business plan pdf, you can get assistance from a bank or an investor. In this post, we will take a look at how you can write your catering business plan in Nigeria pdf. We will also consider why you should go into the restaurant business in Nigeria.
Why You Should go Into The Restaurant Business in Nigeria
Food is one of the top needs of man. These days, man has evolved from just loving food to loving well-prepared and served food. This is why even if they can cook, they would still love to visit a restaurant sometimes.
Eating good food is great but when good food is eaten in a beautiful environment, it is a whole new feeling. There are several reasons why you would want to eat out. You may want to go on a date with your partner, a family date, a business meeting, or just for the fun of it.
The number of people resident in Nigeria is proof that the restaurant business would be a money-spinner. We have almost 200 million Nigeria, many of whom stay in the urban areas. If you stay in Lagos, for example, there are 20 million people with an average of 2,000 moving in per day.
This implies that each of these people would need a restaurant at one point or the other. If you start up your restaurant in the right location, you will be making lots of profit each day.
Things You Need to Start a Restaurant Business in Nigeria?
Before you begin your restaurant or even write your restaurant business plan sample, there are few things you should have in place. In this section of this post, we will share a few of these with you.
This is very important to the startup of any business. A feasibility study is a study that helps you find out what is expected from you when you begin to run your business. It also tells you what you should expect while running the business.
Here are some of the things you will be finding out in your feasibility study:
- how much capital you need,
- the best location of your business, and
- materials you need for the business, etc.
The results of your feasibility study will help in writing your restaurant business plan pdf. They will also help you run your business more efficiently.
Another thing you need is determination because starting out is very difficult. It is a rough terrain but with determination, you can weather the storm. You must have a picture in mind and the resilience to achieve it no matter what.
Be open to knowledge
You are not an island of knowledge. There are so many things you don’t know even if you are a very good cook. The fact that you are a good cook doesn’t mean you are a good business manager. It is important that you learn the ropes of the restaurant business, both in recipes and management.
Your business location is very important as it will determine to a large extent your profit margin. Locating your restaurant business will be determined by the kind of people you want to visit your business. If you start your restaurant close to a university, then it is only expected that students would frequent your business.
When finding a location, there are a few things you must consider:
- It must be easily accessible.
- Should be close to the source of your raw materials.
- It should be close to your target market.
- It must be comfortable and free from violence.
Without capital, your business cannot run. Capital goes beyond physical cash, even the instruments you need to run the business fall under capital. You can get capital from several sources which include:
- Personal savings
- Loans from banks
- Gifts or loans from loved ones
A business plan is very important for any business. It acts as the map through which your business navigates to success. A business plan is also instrumental in getting the capital needed to run the restaurant business. This is why we offer to help you write your restaurant business plan sample.
Content of a Restaurant Business Plan?
When you get a restaurant business plan pdf from us, it contains all the essential ingredients of a comprehensive business plan. In this section, we will provide an overview of all the ingredients of your catering business plan in Nigeria.
Table of contents
This is the first part of the business plan after the title page. It helps the reader navigate through the rest of the plan easily. The table of contents contains all the major sections of the plan along with the pages on which they can be found. This is very similar to what you find in your regular books or projects.
This part of the plan is very sensitive because it is a summary of all that is contained in your restaurant business plan. It is written last but it is the first real reading anyone will do when going through your plan.
The Executive Summary page is very similar to the abstract on a project. It summarizes the major points of the business plan so it has to be juicy. Anyone can predict what to expect in your plan from reading this page.
In this section, you share details about your company. No one wants to invest in a stranger so you must come out as plain as you are. When your investor reads this page, they see a reason to invest in your business or not.
This section contains the following pieces of information:
- Mission Statement
- Vision statement
- Current Status
- Markets and Products
- Keys to success
- Cost summary
In this section, we discuss the products and services your restaurant business will provide. In this case, you will state the different dishes you plan to serve at your restaurant. You don’t need to present their recipe or go into excessive details.
Market and industry analysis
In this section, you show off how much of the market and industry you know. How much you know will go a long way to determine how successful your business will be. Your investors will also be interested in knowing about the industry if they don’t have in-depth information already.
Take time to explain in detail each of the following:
- Industry analysis
- Market analysis
- Customer analysis
- Competitor analysis
- SWOT Analysis
How do you plan to sell your products and penetrate the market? This question is answered in this section of your restaurant business plan sample. To answer this question, the following pieces of information will be provided:
- Target Market Strategy
- Product/Service Strategy
- Pricing Strategy
- Distribution Strategy
- Advertising and Promotion Strategy
- Sales Strategy
- Marketing and Sales Forecasts
Your operations plan will show the reader how you intend to run the business. It presents the following:
- Operations Strategy
- Scope of Operations
- Operating Expenses
Who handles what is very important in any business. Leadership will determine whether a business will thrive or sink. To this end, you will provide the following:
- Company Organization
- Management Team
- Administrative Expenses
This is regarded by most people as the most important aspect of any business plan. It discusses the income and expenditure, profitability, breakeven point, etc. It includes:
- Financial Assumptions
- Financial Forecasts
- Projected Cash Flow
- Income statement
- Balance sheet – Profit and loss, Profit Margin, chart, Financial Risks, etc.
This section contains all the tables and calculations you couldn’t add to the main body of your business plan.
How Much Does a Restaurant Business Plan Sample Cost?
To save you from the stress of writing your business plan yourself, we have a complete done for you restaurant business plan sample pdf. You can edit this to personalize your business plan.
On the other hand, if you want us to customize the plan on your behalf, kindly reach us.
In this post, we have shown you how to start a restaurant business in Nigeria. We have also shown you the contents of an efficient restaurant business plan sample. Reach us and we can help write yours in the shortest time possible.