|Strategic Planning Information
Restaurant Startup - Part 1: Market Research ? What are Potential Competitors Doing?
The first step in starting a restaurant is proper planning. One must lay out a plan complete with goals, priorities, and the tasks that he will need to complete in order to achieve these goals. The biggest mistake first time restaurant owners make is improper planning. Ambition, while absolutely required, is simply not enough to succeed in the highly competitive food service industry.
If you've always wanted to run a Cajun restaurant, and you live in an area that already has five, do you have to relocate to accomplish your dream? Not necessarily! It's now time to engage in a bit of opposition research. Drive by each of the locations during varying parts of the day. Are there many cars in the parking lots? At what times? Are many people standing in the lobbies? If so, then this restaurant is doing something people like, and these patrons are thanking the restaurant owner with their wallets. If you see that a particular restaurant is more popular than others, discover why by visiting their establishment during peak hours. Dine in, have the waiter recommend their best dish. Pay attention to every aspect of the experience.
The food should be an area of concentration of course, but there are several other factors that can turn wonderful food into a wonderful experience. How do the servers present themselves? How spaced out are the tables? What type of centerpiece is on your table? All of these factors are vital, and are what makes or breaks a new restaurant. By no means should you overlook the atmosphere of your dining area while planning your restaurant.
This may seem obvious to most, but while you're there, you should also pay attention to the menu. Do they have something for everyone? People generally don't dine out alone, so if you're only appealing to a one taste, you're going to lose a vast amount of potential customers. Carefully study how the successful restaurants handle this. Of course if you're a Cajun restaurant, you're not going to serve an Italian dish, but you can surely meet everybody's tastes. Look at husband-wife pairs to see what they order. Don't just concentrate on the main dishes, but the entire meal. Sometimes, one of a pair might really enjoy your Chicken Rochambeau, but the other doesn't like Cajun at all. Notice what these people order, as they're just as important as their partners who enjoy Cajun immensely. These items will often blend into the menu quite well as soups or salads, and will most times be a compliment to your main courses. A great fast food example is McDonalds. They realized early on that not everyone wants to eat just hamburgers. They poured massive amounts of money into marketing, and obtaining the best quality potatoes for their fries of any of the fast food chains. Of course today, you can get just about anything at McDonalds, but early on they were first to scream, "We don't just have burgers!" and it has worked out well for them. To summarize, find your niche of course, but also cater to as many people as possible, because your niche diners have friends and they want to eat as well!
Finally, do not lose heart because there are already five successful restaurants in your area. Remember, when the fifth started there were already four, and so on. Find what they don't do well, that you know you can make your specialty, and you are well on your way to a successful restaurant.
Jeremy is a consultant for ACityDiscount, an online restaurant equipment dealer based out of Atlanta, Georgia.
5 Strategies That Will Boost Your Business Productivity Today! - Part 2
Growing your own small business can be one of the most exciting journeys you could ever embark upon!
Pave the Way to a Successful Strategic Plan
Many very successful business owners may never have had a formal strategic plan. Some think, "Why do we need to do strategic planning? We're doing great just like we are."
How To Prepare A Business Plan That Guarantees Big Profits
It is always said "If you Fail to Plan, you Plan to Fail"
Memo: Sustaining Growth in Your Business
What gets measured gets done.
The Power of Planning
I am surprised how few sales professionals, independent consultants, and small business owners take the time to plan the strategy for their business. Most people spend more time writing out a grocery list or planning a vacation than they do planning the direction or outcome of their business. Many will determine a vague or general idea of what they want to accomplish but very few actually identify the specific action steps they will need to take in order to achieve their goals. I'm not suggesting you create a 25-30 page business plan like a good friend of mine writes every year, but I do recommend that you begin outlining the goals you want to accomplish and how you plan to get there.
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. A business plan helps you start out on the right foot and makes you think about your future strategies. One important thing you need in a business plan is a table of contents that you can use as a guide, as you go thru the hectic and tedious steps to start your new business. There are a myriad of rules, regulations and inane paper work and you must stay focused at all times.
Completing the Annual Planning Process
Imagine an office without a desk, or lights, a computer, or even something as simple as a chair. When the architects and designers started planning a building or office space they knew they would have to make concessions for these items during each of the building activities. As marketers, we take part in many activities, much like a builder or designer does.
Don?t Allow Yourself to Get Burned
I am not a big fisherman, but I do enjoy it whenever the opportunity comes my way. I have some friends who are fanatics and occasionally I will go out with one of them. They have nice boats and it makes for an enjoyable day.
Business Plan: Planning the Operations
Writing a business plan is no easy task, sure you can whip something together in a day or so, but without proper planning you are setting yourself up to fail. Many first time entrepreneurs have a bit of trouble writing a business plan, which will be acceptable to bankers and investors. One easy place to fall down on is the understanding of the daily operations of your chosen business model.
The Top Five Reasons Strategic Plans Fail
"Most great plans aren't. They are just nice, high-level ideas."
More Uses for Your Business Plan
You have invested a lot of time and energy on writing a business plan just to get a loan or to attract an investor. What do you do when you get the money or, worse, should you be turned down?
Ten Steps To A Great Strategic Plan
Ask a small business owner about their strategic plan and they'll either laugh or get that stricken look in their eyes. Yet it's well documented that businesses with a strategic plan are more successful. No matter what size business, from solo practitioner to hundreds of employees, a thoughtful strategic plan will help you achieve your dreams.
Writing a Business Plan for Success in Business and for Funding
Writing a business plan to help you direct and manage your company is a key part of starting you new company that will help lead you and your company to success. Creating a "living and breathing" business plan makes that success even easier to reach. Many people feel that the sole purpose of a business plan is to get funding, and write a plan that is targeted to that audience. This plan should be considered a piece of you Fund quest documentation, but should not necessarily be edited to meet each funding source.
To Go or No Go, That Is The Question
Last week we talked about a few of the ways to test the feasibility of a business idea to help determine if the idea really had merit or just looked good on the surface. To recap, I said don't bet the farm on the opinions of friends and family, consult with knowledgeable business experts, and conduct a SWOT (Strengths, Weaknesses, Opportunities, and Threats) Analysis. This week let's take it a step further and talk about the creation of a formal Feasibility Plan which will help you determine the true feasibility of your big business idea.
Five Crucial Components of a Business Plan
The format of a Business Plan is something that has been developed and refined over the years and is something that should not be changed. Like a good recipe, a business plan needs to include certain ingredients to make it work.
Dotcom Business Plans Archive Project
One of the most important initiatives in the domain of business documentation is that of professor David Kirsch from the University of Maryland, who thought of a dotcom Business Plan Archive - , a project that consists of collecting business plans for posterity. The project was started in 2002, through the Web portal businessplanarchive.org. The site was built by Webmergers.com and the University of Maryland's Robert H. Smith School of Business, in collaboration with the Center for History and New Media at George Mason University.The project received financial support from the Alfred P. Sloan Foundation.
Dayton, OH; Why your Company needs to expand there
In Ohio: besides the 3-Cs you should look at Akron, Dayton, Canton, Toledo, Youngstown and their suburbs. We have been serious studying these areas quite intensely for quite a while, here is what we found; Dayton OH, is looking up after the recent GM Plant received high ratings for productivity being able to beat the Domestic Averages for time to build cars and SUVs, it's SUV Plant was amongst the top performers in the Country for time to build at an average of 20.7 Hours, much better than the Ford Plants all expect F-150 and Taurus Models. Many new projects are happening in Dayton;
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. Action Planning assumes that people will support that which they help to plan and create. Unless those involved are committed to that which they are changing, the plan does not have much hope for success. Recent studies indicate that employees who are a part of the planning and problem solving/decision making process will take on additional organizational responsibilities to implement the plans.
How To Leverage Your Current Ideas And Products Into Multiple Revenue Streams
Diversify - to make diverse, give variety, to balance, to divide securities in different industries, to produce variety, to engage in varied operations.
Rules to Setting Business Goals and Objectives: Why and How to be SMART
We all know that nothing runs without a plan, and a plan cannot run without having its objectives set.
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