by Doug Marranci

In the early 90’s I wanted to create a business plan to open my first coffee house in Charlotte NC. I did a lot of research and found many different types of plans that could be written. After going to the library and looking at many books and SBA information about writing a business plan, here are some of my thoughts on writing that first business plan.

1. If you address all of the areas of a standard business plan, you will probably have uncovered all of the information that you need to find to start your business.

2. Work on one small part of the business plan at a time. If you think about writing the entire plan, you will get overwhelmed. As with any project in life, the longest journey begins with the first step. Take one small section of the plan, do your writing, do your research, check your work, and move on to the next section.

3. Use friends and acquaintances to read over the plan as you are developing it. I asked a variety of friends to check my work for various reasons. The first was a banker. Enough said. The next was a Research Physician. He pointed out anything that I said that i did not substantiate. The next was an English Professor. Enough said on that one too. The last was a friend who was not a business person, just to make sure an average person understood what I was trying to do.

4. Tell everyone what you are doing. You are not “opening a restaurant” you are simply writing a business plan for a restaurant idea to see if it could work. I can assure you that a well written plan will clearly let you know if you are able to fulfill this dream, or do you need to “scale down” your dream to something more realistic. One note here, I never had to go to investors. I talked to so many people about my ideas that I had people volunteer to be investors before I ever had my plan finished. (I thought i was done, however, they made me finish my business plan).

5. You never know who can be a resource. You will develop relationships with many people in the process who are in the Industry. Pricing from Food Vendors, Lease and Sale prices from a Restaurant Broker, Equipment from a Food Service Equipment Vendor and your accounting or banker friend when you ask for advice. These relationships carry over into your business. Since you are a small business person, most people take an interest in you, and your business venture. Most people with whom I had discussions with kept up with my progress, and were some of my first customers.

6. You will gain knowledge and assistance from many sources. My desire to open this Coffee House was to provide a safe environment for people away from bars and clubs. Remember, this was P.S. (Pre-Starbucks). I went to a used furniture store, and was picking out what I wanted. When I told the manager what I was doing, he told me to pick out whatever I wanted, and gave it to me for free. While this may not happen to everyone, you never know who is willing to help you and in what ways they can help.

Since that initial coffee house, I have gone on to start up and sell three more restaurants since then. This was all done from starting with nothing but an idea.


Views: 8

Tags: business, plans, restaurant, start, up

Comment

You need to be a member of FohBoh to add comments!

Join FohBoh

Advertisments

 

DEPARTMENTS

Social Wine Club for Craft Wineries

Smartbrief

PepsiCo exec Lisa Walsh shares path to leadership

Industry leader Lisa Walsh, vice president of PepsiCo Customer Management, has risen through the ranks at the company since j -More

Checkers, Philly Pretzel Factory seize opportunity at Wal-Mart

Checkers and Philly Pretzel Factory are hoping to benefit from Wal-Mart's popularity by embracing new franchise development o -More

Quickserve eateries entice customers with local and sustainable angle

Locally-sourced, conscientious ingredients are gracing menus and grabbing loyal consumers at an increasing number of restaura -More

Galbani® Mascarpone. Gold Standard True Italian Taste.
Italy has a flavor all its own. When it comes to cheese, chefs who know choose Galbani. For irresistibly savory risottos and pastas, try classic Galbani mascarpone. Its rich, creamy goodness makes it perfect for favorites like tiramisu and cannoli. Galbani mascarpone, one of the fine brands from Lactalis Culinary. For paring suggestions, click here.

JOBS & CAREERS

Posting a job or finding a job starts here at FohBoh. Call us about special $50 posting packages to syndicate across all major jobs boards.

National News

Gen Z, the First True Digital Generation, Represents the Future Foodservice Consumer

Gen Z, the first true digital generation, represents the future foodservice consumer. They're a generation on the move that strongly prioritizes speed of service, technology, and having what they want, when they want it. Millennials, more so than older generations, prefer to visit restaurants that offer new and unique foods and flavors. Gen X and Boomers converge on several preferences—such as the importance of a convenient location.

Red Robin Gourmet Burgers Celebrates Its 500th New Restaurant Opening

Red Robin's 500th new restaurant opening will open on Aug. 4 at 11 a.m., in Milpitas, Calif. at the Great Mall of the Bay Area.

Darden Completes Sale Of Red Lobster To Golden Gate Capital

Darden Restaurants, Inc. (NYSE: DRI) and Golden Gate Capital today announced that Golden Gate has completed the acquisition of the Red Lobster business and certain other related assets and assumed liabilities for approximately $2.1 billion in cash.

Dunkin' Donuts Announces Plans For Seven New Restaurants In Duluth, Minnesota With New Franchisees Brian And Sharon Weidendorf

Dunkin' Donuts announced today the signing of a multi-unit store development agreement with new franchisees, Brian and Sharon Weidendorf, to develop seven restaurants in Duluth, Minnesota and the surrounding areas. The first restaurant is planned to open in spring 2015.

Wendy's Names Brandon Solano Senior Vice President of Marketing

The Wendy's Company (NASDAQ: WEN) announced today that Brandon Solano, 43, a veteran brand builder and product innovator, has been named Senior Vice President of Marketing.

CROWD FUNDING

If you are looking for capital to start or grow your restaurant, create the next 501c3, develop and launch the next app for the restaurant industry,or want to help your peers in some meaningful way, we want to know about it.

TED TALKS VIDEO

TED: Ze Frank: Are you human? - Ze Frank (2014)

Have you ever wondered: Am I a human being? Ze Frank suggests a series of simple questions that will determine this. Please relax and follow the prompts. Let's begin …

TED: Heather Barnett: What humans can learn from semi-intelligent slime - Heather Barnett (2014)

Inspired by biological design and self-organizing systems, artist Heather Barnett co-creates with physarum polycephalum, a eukaryotic microorganism that lives in cool, moist areas. What can people learn from the semi-intelligent slime mold? Watch this talk to find out.

TED: Shih Chieh Huang: Sculptures that’d be at home in the deep sea - Shih Chieh Huang (2014)

When he was young, artist Shih Chieh Huang loved taking toys apart and perusing the aisles of night markets in Taiwan for unexpected objects. Today, this TED Fellow creates madcap sculptures that seem to have a life of their own—with eyes that blink, tentacles that unfurl and parts that light up like bioluminescent sea creatures.

TED: Nikolai Begg: A tool to fix one of the most dangerous moments in surgery - Nikolai Begg (2013)

Surgeons are required every day to puncture human skin before procedures — with the risk of damaging what's on the other side. In a fascinating talk, find out how mechanical engineer Nikolai Begg is using physics to update an important medical device, called the trocar, and improve one of the most dangerous moments in many common surgeries.

© 2014   Created by FohBoh.

Badges  |  Report an Issue  |  Terms of Service