How to Create a Fast Food Restaurant Business Plan
Is a fast food restaurant something you’re considering opening? If so, you’ll need to create a business plan. A fast food chain business plan is what you use to secure financing in the form of a business loan. It also outlines your business model, inventory, and profit margins. Every aspect of your fast food business is reflected in this document. Do you have one? If not, is your fear of writing one what’s holding you back? If so, Signal Connect is here to help. We’ll show you some of the basics you need know when it comes to how to write a fast food business plan.
Create a Summary
The executive summary is the first part of your fast food restaurant business plan. As its name suggests, this summarizes your entire plan for your business in three pages or less. When creating your executive summary, be sure to include the following:
- An introduction of your fast food restaurant concept
- Your target customers
- The competitors in your immediate area
- An explanation of how you plan to attract customers
All this data is a huge help to bankers. It can help them assess how organized and dedicated to your business you are. This helps them determine whether you’re a good investment or a bad risk. Remember, you’re asking these people to loan you money, so they have every right to want to know how organized you are. A well written business plan should tell financial professionals what you are all about.
Describe Your Fast Food Business
The second part of your fast food business plan is a description of your restaurant. This should include the restaurant’s name and address. It also should include your name and contact information. (Don’t forget the names and contact info of your business partners, if you have them.) List your previous work experience and educational accolades, as well as your business partners’. Make sure to include whether your restaurant is a sole proprietorship or partnership. Your description should also include short- and long-term goals, trends and growth patterns for your area.
Your Fast Food Restaurant’s Organization
The organization and management section of your fast food restaurant business plan should have three sections. These sections should focus on:
- Your restaurant staff
- Their responsibilities
- Your suppliers/vendors
Use your fast food business plan to describe your employees and managers. Offer a detailed description of where each works. You should also provide details about the functions of each department and manager. Be sure to include the costs of salaries, benefits, and training costs.
The second section of your plan details the operations of your fast food restaurant. Start with an organizational chart that tracks the responsibilities of each position. While your at it, list the equipment your business needs to operate. This includes coolers, fryers, and refrigerators. Include the cost of each item and indicate whether each will be bought or leased.
Finish this section up with a list of suppliers and vendors you plan to use. Identify the products or services you’ll buy from each, along with the costs of each product. Include the contact information of your suppliers and your contracts with each. It also never hurts to list the methods you’ll use to control inventory.
Analyze Your Local Fast Food Market
Bankers and other financial types want to know what the fast food market in your area is like. You are asking them to invest in your idea, after all. Make sure to thoroughly research the food industry in your area. This part of your business plan should identify your target market and how you’ll attract these customers. List your projected marketing costs. Be sure to note the licensing and permits you’ll need to operate your restaurant at your chosen location.
Bankers love to see your financial projections, which you can include in this section. Create a financial statement for each owner/business partner. Be sure to also include a balance sheet, income statement and cash flow statement for the business. Remember to give accurate data, and always remember to use realistic projections.
List Your Menu Items and More
If you’re planning to open a fast food franchise restaurant, this part of your business plan should be easy. Most franchisees offer a listing of their entire menu as well as any other retail items you’ll offer at your business. Be sure to reach out to your franchise coach for help with this portion of your business plan. In most cases, it should be something as easy as someone from corporate sending you a file that lists the menu and pricing relevant to your market. Keep in mind that every fast food corporation operates differently and has unique requirements for their franchisees.
Business Plan Appendix
The appendix is the last part of your fast food restaurant business plan. (Aren’t you glad?) This should include documents that support the data you presented earlier in your plan. If you have tax returns, bank statements, and similar documentation, it goes here. If you don’t have this information, get it then place it in your appendix. If you need help, there are many fast food business plan formats online. You can use these for guidance. You can also contact your corporate office to see if it offers business plan templates for potential franchisees.
Put DIRECTV in Your Fast Food Business Plan
In many ways, DIRECTV is just as important as your fryers, ovens, and shake machines. Why? Because it’s a proven moneymaker for fast food restaurant owners. When you offer this in your business, your dine in customers are likely to stay longer. When they do, they also tend to order more food, drinks, and desserts, which boosts your profits. DIRECTV in your dining room convinces some drive-through customers to dine inside. If you’re opening a fast food business, super size it by making DIRECTV part of your business plan from the start. You’ll be glad you did!
Signal Connect is Your DIRECTV Hook Up!
We’re an AT&T Preferred Dealer that specializes in bringing DIRECTV to fast food restaurants. We can help you choose from one of two commercial DIRECTV programming packages. (We’ll make sure you get all the extras that come with the one you pick.) Signal Connect also provides the best customer support in the business. For example, if you have a DIRECTV connection issue, you don’t have to call DIRECTV and get put on hold. Your sales rep will diagnose the problem and walk you through the fix. Best of all, this concierge-level service is absolutely free to all of our customers. If you’re ready to learn more about how DIRECTV can help your fast food restaurant, call us at 866-726-4182.