Starting a franchise restaurant business comes with a great deal of work and planning. You’ll need skills in restaurant management, restaurant data analytics, and forecasting for restaurants. You’ll need financial support and projected success. To bring it all together, you should have a franchise restaurant business plan.
You don’t need a business plan to start a restaurant, but oh boy will your job be easier with a plan in place. It gives you a sense of security in your future, with sets of guidelines for any situation at the ready. Read on through this BinWise blog to learn how to write and work with a franchise restaurant business plan.
What Is a Franchise Restaurant Business Plan?
So, what is a franchise restaurant business plan? It’s a detailed guide to the things you’ll need to do for your business, and the facts and figures to know. It’s similar to many other types of business plans, including:
- Cafe franchise business plans
- Cafe business plans
- Standard restaurant business plans
- Brewery business plans
All in all, most business plans follow the same structure. It’s a structured plan to give you the tools to run a successful business. There are going to be lots of parts of your franchise restaurant business plan that are unique to your business. There will also, however, be many parts that are standard across business plans.
10 Facets of the Franchise Restaurant Business Plan
Setting up your restaurant franchise business plan starts with the basic steps. As you work through the sections of a business plan, you’ll find yourself going in-depth in all the important places. A business plan structure gives you the tools to find the strengths, weaknesses, and opportunities of your new business plan.
These 10 facets of the franchise restaurant business plan will get you started. Some of these steps are unique to franchises. Others are basic parts of every business plan. They all come together to show you how to plan for your franchise restaurant business. As you follow through this sections you’ll learn about the process of running a successful franchise restaurant.
10. Executive Summary
Your executive summary is the place to define your business and give a brief, succinct overview of your business needs and plans. This is your introduction to frame your business plan.
9. Franchise Disclosure Document
The franchise disclosure document, or FDD, is the legal work of declaring your franchise business. It’s helpful to complete this as part of your business plan work.
8. Menu Components
The restaurant menus part of your franchise restaurant business plan are vital for the legal startup process. You need to share exactly what ingredients you’ll be needing in your supplies. If you're doing something unique, like table d’hote menus, you'll need to plan that out entirely.
7. Franchise Operations Manual
The franchise operations manual is the guidebook of how your franchise restaurant locations will operate. This is a comprehensive guide, with daily, weekly, monthly, and yearly plans written out in full.
6. Industry Analysis
Your industry analysis should be focused on all franchise restaurants. This is a broad scope for your first analysis among the several analysis projects on this list.
5. Market Analysis
Your market analysis is all about your customer base. This is the place to dive into what customers will be looking for from your franchise, and how you can provide for them.
4. Marketing Plans
Your marketing plans come up right after the market analysis because the two go hand in hand. Your marketing plans should be curated to reach your target market of customers.
3. Competitive Analysis
A competitive analysis is the third of the analysis projects, and the last one in your business plan. It serves to show you the franchises in your immediate area, and how you can be better than them.
2. Management and Staffing Organization
Management and staffing organization showcases the functions within your business. This is especially important for organizing each franchise location.
1. Financial Planning
The financial planning section is the place to write up your budget, financial situation, and any possible needed assistance. This part is particular for being shown to potential investors.
"Key Takeaway: You don’t need a business plan to start a restaurant, but oh boy will your job be easier with a plan in place. It gives you a sense of security in your future, with sets of guidelines for any situation at the ready."
Frequently Asked Questions About Business Plans for Franchising a Restaurant
Creating a franchise restaurant business plan comes with a lot of heavy mental work. You’ll face the tough questions of your franchise business, and need answers to continue. You’ll have to plan for each possibility, and prepare your plans for your franchise partners. It’s a lot to manage. Our answers to these frequently asked questions will help you get started and remain steadfast.
How Do I Write a Business Plan for a Franchise?
Some key tips to use when it comes to writing a business plan for a franchise include:
- Defining your target audience, so you have a clear idea of who you’re creating this business for
- Setting business marketing goals, to set up a marketing plan that will lead to direct, tangible results through content marketing, email marketing, and more
- Develop your marketing strategy, so that marketing can become an instinctual, regular part of your franchise business
- Build up your sales strategy, to learn how to sell from a franchise perspective, as opposed to a singular restaurant perspective
- Identify your KPIs, or key performance indicators, to be able to measure your success and areas for growth
- Continue to monitor your business, to adjust your business plan and strategies as needed
These tips will guide you as you write your franchise restaurant business plan. They work in conjunction with many of the steps outlined in this blog, to support and grow your franchise restaurant business plan.
Do I Need a Business Plan To Open a Franchise?
You don’t technically need a business plan to open a franchise, but your business will do much better with a business plan. When you dive into a business without a structured plan with defined sections and clear guidance, you put your business at risk. You’ll reach points where you’re not sure what to do, and you’ll have to struggle to find out. A business plan is the answer.
How Do I Build a Successful Franchise Business?
To build a successful franchise business, you need a steady plan, a great team, and patience. Your business plan will pave the way for success with defined steps to take. Your team is vital for managing your franchise locations and supporting you in specified ways. Patience is a must for any restaurant, bar business, or hospitality industry job. It will bring you through hard work.
How Do I Write a Food Business Plan?
To write a food business plan, for a restaurant, bar, or even a country club, follow the basic steps and map your business in your mind. The basic steps of a business plan can come from this blog. You can also dive into restaurant business plans or a catering business plan. Mentally plan on top of these phsyical plans to develop your restaurant concept.
Your Franchise Restaurant Business Plan: Details to Run Your Business
Writing up your franchise restaurant business plan is one of the most tangible steps toward starting up your franchise. It shows you what you’ll need to focus on with particular attention. It gives you a place to organize finances, marketing, market analysis, and so much more.
When you’re ready to create your franchise business with a quality plan, reach out to BinWise and BlueCart. The BinWise Pro beverage inventory program, paired with the BinScan app, gives you peace of mind when you do inventory. BlueCart’s order management software simplifies your order management system.