Project Management
II. Project development and design
A. Project formulation
CONCEPT PAPER ON STARTING UP A
RESTAURANT BUSINESS
By
Fresin INC.
5/f, Atrium Building, Makati Ave.,
Makati City, Philippines
August 2012
INTRODUCTION
Starting up a restaurant is a lot like having children. Everyone tells you how much work and dedication it will be, but you are still so excited. The excitement may cause something in the back of your head tells you it might just be a lot of fun and not so much work.
Don't believe it. Running a restaurant entails wearing a lot of hats and putting in a lot of time, but it can all be worth it if you do your research and a well thought out, organized plan is set in place.
After deciding that you are ready to own a restaurant, a concept needs to be developed. Keep in mind what type of restaurant (family, fast food, upscale, etc.) you want to own. Do you want to buy into a franchise, or create your own establishment?
These are questions that need to have clear and concise answers so that when you enter into writing the business plan, you have it done.
Preparing the business plan is one of the most crucial parts of starting a restaurant. Not only does it help to secure funding, but it organizes information like target market, market demographics, competition studies, and financial projection. The business plan holds all of the necessary information in one clean document.
Secure financing for the restaurant. Make sure you have enough money for the location, design and furnishing the interior, exterior signage, initial advertising cost, and maybe a little cushion in case of a slow start.
Get all of your professionals in place. Hire a lawyer and accountant to take care of their respective matters while you are preparing for opening day.
Prior to the grand opening many things need to get done: o Hire a good staff o Furnish the restaurant o Create a menu o Contact local vendors and negotiate pricing o Begin advertising
A good way to
A. Project formulation
CONCEPT PAPER ON STARTING UP A
RESTAURANT BUSINESS
By
Fresin INC.
5/f, Atrium Building, Makati Ave.,
Makati City, Philippines
August 2012
INTRODUCTION
Starting up a restaurant is a lot like having children. Everyone tells you how much work and dedication it will be, but you are still so excited. The excitement may cause something in the back of your head tells you it might just be a lot of fun and not so much work.
Don't believe it. Running a restaurant entails wearing a lot of hats and putting in a lot of time, but it can all be worth it if you do your research and a well thought out, organized plan is set in place.
After deciding that you are ready to own a restaurant, a concept needs to be developed. Keep in mind what type of restaurant (family, fast food, upscale, etc.) you want to own. Do you want to buy into a franchise, or create your own establishment?
These are questions that need to have clear and concise answers so that when you enter into writing the business plan, you have it done.
Preparing the business plan is one of the most crucial parts of starting a restaurant. Not only does it help to secure funding, but it organizes information like target market, market demographics, competition studies, and financial projection. The business plan holds all of the necessary information in one clean document.
Secure financing for the restaurant. Make sure you have enough money for the location, design and furnishing the interior, exterior signage, initial advertising cost, and maybe a little cushion in case of a slow start.
Get all of your professionals in place. Hire a lawyer and accountant to take care of their respective matters while you are preparing for opening day.
Prior to the grand opening many things need to get done: o Hire a good staff o Furnish the restaurant o Create a menu o Contact local vendors and negotiate pricing o Begin advertising
A good way to