A menu is the foundation of any restaurant; Guests will support or avoid a restaurant for its food. Starting with a preliminary menu is a simple and basic approach to restaurant development. Begin with a menu, and you are light years ahead in the restaurant development process. A menu will tell you and your Guest what you are trying to be as a business, and greatly enhance your chances for success.I view a menu for content, image and pricing. Content (the actual items on the menu) will dictate service staffing needs, level of culinary experience and type of management required. Who will be doing the cooking, do they have experience in this type of food, and how much are you paying them? Image is how the Guest will perceive the menu. Menu image helps define the targeted clientele and which other restaurants this operation would be competing with. Are the content and image of the menu appealing to your desired clientele? Pricing helps determine a potential restaurant's competitive placement. Is the pricing for the type of food offered competitive with other's in the market area, and does it permit the ability to manage a profitable food cost? Pricing sets the Guest's expectations in terms of food and service quality. This perception will, in turn, help define appropriate staffing levels. The budgeting process can now begin. Analysis of menu content, image and pricing will tell prospective restaurant operators whether their concept is appropriate for a certain market area. With a preliminary menu in hand, a prospective operator can target a location that will be convenient and appropriate for their desired clientele. Once a site or facility is selected, sales volumes can be projected based on number of seats, menu pricing and the competitive business analysis. With projected sales volumes, how much an operator can spend to acquire, remodel or build a facility is determined. Leases and/or purchase agreements can now be negotiated. With a clear menu, competitive analysis, sales forecast and development budget, financing can realistically be sought. A business plan can be derived which, if taken to potential investors will demonstrate what type of return they can anticipate on their investment. Any restaurant business plan must begin with a menu. A proposed menu provides the basics for many questions that must be answered during the restaurant development process. It creates an image of the restaurant, identifies targeted clientele, and defines the proposed restaurant's competition. A preliminary menu allows a sound basis for business budgeting, tests potential profitability, and dictates the development dollars required for a facility. Most importantly, beginning the business planning process with a menu maintains the focus of ownership on the importance of food and the impact it has on the success of the restaurant. Written by Monte Zwang of Steele Development Corporation, a consulting firm specializing in business development and financial strategies. You can reach Steele Development by calling 206.878.9666 or online at http://www.Steeledevelopment.com.
Inexpensive Shopping on Strategic Planning Process:
Ebooks & Digital Products On Strategic Planning Process:
Live Strategic Planning Process Auctions On Ebay Now:
Brand Name Deals & Coupons On Strategic Planning Process:
Ezine Articles & Information On Strategic Planning Process: Half.com deals on Strategic Planning Process: mashups On tag strategy @ amazon:
|
 |
RELATED ARTICLES
Building a Better Brick-and-Mortar with the Billion-Dollar Web
More than $117 billion passed hands from Internet shoppers to Internet vendors in 2004, according to the statistical research firm comScore. That's billion, with a B.
Is Your Company Growing Fast Enough for You?
Are you frustrated by the lack of growth in your firm, or the effort required to squeeze any up-tick in performance? Are inadequate policies and procedures a root cause? To find out, take this simple self assessment to see if this may be inhibiting real growth at your company.Q.
Financing Business Expansion for Your Small Company
How you finance the expansion of your business is important. Borrowing and understanding the consequences of borrowing for your financing is extremely important.
The Six Sigma Method and Design of Experiments
Six Sigma is becoming a proven approach for businesses and organizations to
improve their performance. The spectrum of companies actively engaging in Six Sigma today is wide from industrials like Celanese, Caterpillar, GE, Honeywell, and 3M to service/retail organizations like Starwood Hotels, Sears, and Home Depot.
GOT MEME? How to Attract Your Clients and Customers Attention
No "meme" isn't a typo and Got Milk, the more commonly know phrase, is actually a marketing meme. If you've opened up a magazine or watched TV in the last ten years you've seen the fun and memorable Got Milk ad campaign using celebrities with a milk mustache.
Going Self-Employed - A Few Handy Hints
The day you decide to take the plunge and work for yourself will be one of the most life-changing choices you ever make, whether starting a company large or small or as a freelance; from the very first moment of being self-employed, you and you alone will stand or fall by your decisions and actions. You will be responsible for steering your business through all its ups and downs, good times and bad times with no guarantee that everything will turn out right in the end.
Creating a Vision That Achieves Results
How important is a vision statement to your company or division? Well, have you ever thought about embarking on a journey without knowing where you are going? The same can be said about running a company, without a vision statement you are going places but who knows if it is in the right direction or even if you want to go there.A vision statement should paint a picture of what you want your business or division to look like in the future.
Resilience
I. INTRODUCTIONThe term resilience, which is of frequent use in the psychotherapy area, has recently started being used in the corporate field.
Strategic Planning Fundamentals
Strategic planning is vital while starting a new business or expansion of an business or planning to boost the performance of an existing business. But it requires detailed strategic planning and controlled deployment activities.
Microsoft Great Plains in Agriculture - implementation highlights
In this small article we'll concentrate on farmers associations and non-profit state-sponsored organizations, dealing with subsidized state and federal programs distribution and management - loans to farmers and rural communities. As we realized this is relatively narrow market niche and it is almost ignored by software developers.
How To Kick Start Your Business And Double Your Profits
This will make some people angry as hell, but it's time to debunk the myth of 'Time Management' while sharing the real secret of the super successful.Let's face it, many so called "business gurus" tell us to 'manage time better' or to become 'ruthless with time' if we want to achieve their level of success.
Three Easy Ways To Know Thy Competitor
"Did you hear what your competitor is doing?" This question has caused many business people to freeze in their tracks. How about you? Does your sales team know what your competitors are doing? And if a prospect was to ask them, "give me 10 unique reasons why I should buy from you and your company," could they answer this question without a pause? "Knowing thy competitor" is critical, and this article will outline three easy ways to know more about them, than they know about you! Let's get started!Their people: Begin by "shopping" on the telephone, by mail and in-person, the competitors who offer similar pricing and products as your company.
Planning for Success
Business planning is widely acknowledged as one of the
keys to business success. Yet there is still a great
reluctance by small business owners in this area.
How to Grow Your Business by Clearing the Way to Growth
Is your business growing as fast and effectively as it could, or is it stuck at the same level it has been at for years? Research (Larry Greiner, 1972) has discovered 5 specific stages of business growth. Most business never grow beyond the second level.
Action Planning
ACTION PLANNING: Action Planning is a process to develop strategies for changes in the organization based on an analysis of the problems which precipitate the need for change. It is a collaborative method of planning which involves the people working in the organization and permits the people who will be influenced by the decisions and change to have influence on the product or outcome.
Mastermind Your Way to Success
What do Mark Victor Hansen, Robert Allen, Anthony Robbins, Andrew Carnegie, Henry Ford, Thomas Edison and Ben Franklin have in common?They all leverage the power of the mastermind team.The mastermind works on the concept that two (or more) heads are better than one.
I Always Play by the Rules and It Stinks!
This week I coached a wonderfully lovely woman I'll call Jill. She's a bright woman, very compassionate and sweet.
Seasonality: Whats the Big Deal?
Do you work in or own a business that's affected by seasonal cycles? Do you live in a community whose population changes significantly during the year (e.g.
Business Plan: The Simplest Business Plan Ever
If you're a solo professional like I am, you know how tough it is to find any time at all to do any business planning. Doing a full business plan is a must if you're planning to seek financing or investors, but most solo professionals don't need anything that complicated.
Business Plan 101 How to Write a Table of Contents
No matter what business you plan to start in your next entrepreneurial endeavor you need to be thinking about writing a business plan. Even if you are not seeking funding for your new business or already have secured funds from family members, angel investor types, personal savings or partners.
|
