New restaurants are notoriously difficult to finance, but having a solid restaurant business plan can make all the difference. Even if you feel that you have a clear and well-developed idea of how your restaurant will operate, you may be surprised by how much you’ll learn just by banging out the details.

What Makes Restaurant Business Plans Unique

Though most business plans have a considerable amount of information in common, restaurant business plans have a few special elements. First, these plans may include more detail than usual, since a hopeful restaurateur will want to describe what the dining experience will be like for the patrons. While ambiance may or may not be an important factor in a retail business, it is one of the key elements of designing a eating establishment, whether it be fast food or fine dining.

Another crucial point in a restaurant business plan is to outline the suppliers. Though quality and freshness are excellent marketing points, investors will want to see how the management team plans on balancing the high cost and frequent turnover of fresh ingredients to create the best compromise of quality and profit.

Finally, investors will be most confident in a restaurateur who has both proven culinary experience and solid business management skills. However, they will also be more supportive of an entrepreneur who knows his or her own limits, and plans to hire key employees to help cover all the bases, since one person can’t be everywhere at once. A consultant like can help iron out these kinds of details.

Many of the details that help make a retail business plan stand out are very similar to most other types of business plans. However, what helps make retail business plans unique is the focus and detail that should go into the products and services section.

Products and Services Section of a Retail Business Plan

The primary purpose of this section is to describe precisely what kind of products and services the retail business will offer. These specific and explicit details will generate a thorough and professional business plan for any kind of new or expanding retail store:

• How will the merchandise stand out among the merchandise of competing retailers? What makes it unique?
• What methods will be used to display and price the merchandise?
• What POS systems will be used, and what forms of pay will be accepted? Will the store offer its own line of credit to help boost sales?
• What specific elements will the customers find beneficial? What will help influence them to buy from this business?
• Which vendors will be solicited? Will there be any exclusive lines of merchandise for this business?
• Which patents and other legal holdings will the business have on original products?

Though there are many details to cover, keeping this section under three pages will help keep the information concise, while still leaving plenty of room for expansion in the presentation.

When looking to either buy or sell a business, it’s best to seek out the services of a certified business broker. Just like when seeking a real estate agent to help you find a home, finding just the right business broker is an important decision.

What Are Certified Business Brokers?

Firstly, there are several kinds of certifications, depending on the kind of business being bought or sold, as well as the overall amount of the transaction. Each certification is offered by a governmental agency, and can be checked through a local branch of the Better Business Bureau.

It is also worth noting that some larger business brokerage firms may be certified as a whole, while the individuals working at this firm may not be personally certified. Many buyers and sellers may wish to work only with those brokers who are certified, so it is important to investigate each broker being considered, as well as the firm with which he or she may be working.

Advantages of Using Business Brokers

While most potential business owners will seek out opportunities through the usual means like the classified ads, trade magazines, and internet searches, brokers have access to databases similar to the residential real estate agent’s multiple listing service.

Additionally, business brokers will handle all the important paperwork involved in buying or selling a business, leaving clients free to develop business plans and search for employees.

Many business owners have bought and sold companies through the certified brokers.

Making a business plan outline will allow a potential business owner to focus his or her business plan, and then cover all the required bases. Here is a comprehensive list of what should be included in this plan outline.

Business Plan Outline

1. Cover Sheet
2. Executive Summary
3. Table of Contents

Section One: Organization

• Description of the business
• Products and services that will be provided
• Intellectual property ownership
• Location
• Structure of the legal department
• Management team
• Essential personnel
• Accounting structure
• Insurance needs
• Security plans

Section Two: Marketing

• General overview and goals of the marketing strategies
• Market analysis
• Detailed description of marketing strategies
• Implementation of marketing strategies
• Marketing assessment

Section Three: Financial

• Summary of financing needs
• Dispersal of loan funds statement
• Budget
• Three-to-five-year income projection worksheets
• Projected balance worksheet
• Break-even analysis

An established business looking to expand will also need:

• Income statement
• Balance sheet
• Financial analysis
• Financial history of business prior to current plan

Section Four: Appendices

• Resumes of key staff
• Financial statements
• Credit reports
• Real estate documents
• Letters of reference
• Contracts
• Legal documents, including standard non-disclosure forms
• Miscellaneous documents

Though this outline covers all of the standard elements of a professional business plan, individual companies may find that they require other elements to create a fully visualized representation of their business goals.

The business plan involves so much documentation and research, many feel that hiring a consultant is a worthwhile and helpful expenditure. Professional consultants like those found at can help save time.

Writing a small business plan is one of the most important things that any new business owner will do. It is especially crucial for small and privately owned companies to develop and update these plans in order to remain productive and competitive.

Elements of a Small Business Plan

Every small business plan has primary elements that should be included to give investors, partners and potential employees a clear and concise view of a new or growing company. These elements are:

1. Executive Summary
2. Problem Statement
3. Solution Statement
4. Business Model
5. Definition and descriptions of what sets this business apart from its competitors
6. Marketing and Sales Plans
7. Exploration of real and potential competitor companies
8. Management team members and summary of their experience
9. Projections of both profits and expenditures for the company
10. Status of materials, real estate, supplies and employees along with a timeline for all elements not currently in operation
11. Conclusion

Many of these elements involve in-depth research to provide current and accurate information. This is quite time-consuming, but it is absolutely critical that each section be thoroughly explored.

Most investment review boards recommend that a small business plan be 20 pages or less, regardless of the size of the company. Though each plan should provide a complete description of each element, these descriptions should be written in a concise, professional manner.