How to Write a Killer Business Plan for Your Restaurant

Opening a restaurant is a big undertaking full of risk. More than half of restaurants fail within the first year and more than 80 percent fail within five years. Poor planning is the root cause of most restaurant failures, but a solid business plan can help you navigate the difficulties that lead to failure and help set your restaurant up for success. A business plan is a detailed map that identifies your goals and explains how you intend to reach those goals. If you are looking to get a loan, you are going to need a solid plan to show the lender how you intend to make and spend money, proving that you will be a good investment for them. Your business plan will serve as a guide to the future. The restaurant industry is full of moving parts, so having a business plan that serves as a guide to the future of your restaurant is crucial to get the whole staff on the same page. 

Here are four key sections you should include in your business plan: 

1. The Summary The opening of your…