What to Include in your Business Plan & Feasibility Study
Updated: Sep 22, 2020
Any business idea needs to have a road map that will help guide you through the different stages of your project progression, to start correctly you need to document a market and feasibility study for your F&B concept, in kingdom of Bahrain. The purpose of the study is to determine the practicality and financials projection related to your project.
The business plan is based on information and assumptions on how you are planning to start your project, the number of shareholder, your startup capital, how you are going to your operation, research cost, the market acceptance and your potential customer.
The Business plan shall explain the following area:
Business Concept description
Management Team structure
Market Analysis (gap analysis)
Marketing Strategy (penetration, awareness, tactics)
Operations (COGS, labor cost, SOP’s, suppliers, customers relation)
Investment Analysis (capital, equity, investment roles)
Growth strategy / Exit Plan (expansion plan, investor exit plan)
Financial Projection (sales projection, labor projection, breakeven, ROI)
It is the process to materialize step by step your F&B concept including, storage facility, kitchen preparation, Kitchen production and dispatch /delivery area.
The Concept: Start by defining the style of the restaurant whether it is a QSR, casual, fine dining, the atmosphere elegant/cozy or comfortable environment feel, menu style and categories such breakfast, starters, main courses and desserts as part of the menu will be exposing the type of cuisine fusion cuisine/European/ Bahraini cuisine. The beverage perspective large or small, fresh / signature drinks.
Concept Area: the size of your projected concept usually shall consist of the following area:
Site location: assess the location that fits your concept
Interior design/ Mood board: it groups the feel, material, light type, equipment that will populate the various area of the concept, technical drawings (Mechanical, electrical, heating, ventilation, and HVAC)
Kitchen layout design: it is a partition of your kitchen departments such preparation area, garde manger, saucier, entremetier, pastry, it outline the repartition of the equipment to each section to assure the best workflow possible.
Branding & Identity of Concept: includes the design and creation of your unique logo and all collateral material that revolves around it (identity of the restaurant design, logo, artwork, marketing material, business cards, menu cover , hard cover invites , bill folders , coasters, postcards, letter headed paper, placemat).
Menu Content Development: this is a very important step where you will define your menu item in connection of your defined cuisine concept to develop the content of the menu, both food and beverage.
Menu development, Cost and Pricing: Once the menu has been developed the items will be converted to recipes and developed one by one to be produced in your kitchen. Following the recipe development, sourcing the raw ingredient at prices and qualities from food and beverage suppliers to use them to calculate the cost of sale for each item and determine the best-selling price.
Operational, FF&E, and IT programming guidance: get in touch with various IT suppliers and programmers to select IT equipment and POS system.
Recruitment & staffing: in line with the style of the concept of the service approach you have created you will be able to decide of the number, profile, service skills and technical knowledge of the team you need to work with your business.
Setting standard & Manuals: this is a prime part of your project as you need to draft your operational manual and checklist for every shift and area to ensure every one of the team knows his tasks for smooth operation, directive, and allow them to focus on delivering service excellence.
Pre-opening Training Services: prior to opening date at least 15 days earlier you need to start your simulated training for real operation where back and front staff starts working full time to get ready to the main day
Cooking pot F&B consultancy can help, please complete this contact form or call and we will be happy to guide you through the process to tailor your business plan according to your needs.