Continued work

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Ashanti Hardy

Dr. James Reuther

Introduction to Entrepreneurship

February 1, 2023

The business plan best suited for my business is a lean plan. A lean plan is best suited because it will entail how to manage the strategy, tactics, dates, milestones, activities, and cash flows of the restaurant to be set out in this case. It will include deadlines and budgets as well as the essential elements. This will be a useful plan to gauge the manpower I need for the restaurant and the finances needed to start the business. Berry (n.d) argues that it allows for clarifications on the targeted market, what the business is offering, underlying business identity, and the business's long-term goals.

Executive Summary

· Overview of the restaurant business plan

· Market Opportunity

· Restaurant Management

· Projections for finances & Funding

Restaurant name

· The Restaurant Concept

· Technology to be employed

· Business Model

· Objectives

· Keys to Success

· Long Term Strategy

· Intellectual Property

· Sustainability

Sample Menu

· Menu Items

Restaurant Operations

· Customer Service

Operating Policies

· Strict Inventory Controls

· Purchasing Cost Controls

· Recipe a Portion Controls

· Menu Blending

· Sanitation of Food Handling

Operating Standards

· Management’s Role

· Software a Systems

· Money a Profit Management

Training and Hiring

· Hiring competent staff

· Training for skill improvement

· Retaining the best talent

Controlling Costs

· Food Costs

· Tools and Equipment Costs

· Staff Turnover / Training Costs

Location

· Operating Details

· Location strategic evaluation

Industry Analysis

· Industry Overview

· Restaurant Demographics

· Millennials

Competition

· Competition status and landscape

· Direct Competitors

· Analysis of Competitive Advantages

Marketing

· Target Market Overview

· Market Positioning & Brand

· Marketing Strategies

Company & Management

· Company

· Management Team

· Staffing Plan

· External Issues

Financial Plan

· Startup Expenditures

· Revenue Assumptions

· Cost of Goods Sold

· Operating Expense Assumptions

· Balance Sheet Assumptions

· Bank Loan Assumptions

· Balance Sheet Forecast – Years 1 to 5

· Income Statement Forecast Year 1 to 5

· Cash Flow Forecast – Year 1 to 5

References

Berry. T(n.d) The Different Types of Business Plans accessed from https://articles.bplans.com/the-different-types-of-business-plans/