Bar and Grill Restaurant Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Bar and Grill Restaurant Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Bar and Grill Restaurant business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
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Product Specifications (please see images below):
- Bank/Investor Ready!
- Complete Industry Research
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PDF Format
- Meets SBA Requirements
Bar and grill restaurants are one of the main stay types of cuisine that is offered within the United States. These businesses have a varied type of atmosphere that they offer to patrons given that some of these businesses operate in a more mid-level range while some of the bar and grill restaurants will hold themselves out as a higher-end casual dining business. Like most restaurant businesses, these businesses are able to generate gross margins of about 65% to 85% depending on the type of cuisine that they offer. Traditionally, these types of restaurants usually offer steaks, burgers, chops, and seafood as part of their overall fair. The barriers to entry for a new bar and grill restaurant are considered to be moderate given that startup costs typically range from $250,000 to $750,000 depending on whether or not the business is going to develop real estate and have the restaurant serve in a standalone facility. One of the common trends within this industry is to have a food truck that operates as a mobile aspect to the restaurant operations. While this is not commonly done among bar and grill restaurants, it is becoming more and more popular given that a food truck can boost the visibility of the restaurants brand name while concurrently generating additional revenues. In some markets, the biggest expense for developing a new bar and grill restaurant is the acquisition of a liquor license. In some states, this is a minimal expense however in some states especially in the Northeast this can be an expense that ranges anywhere from $250,000 all the way to $1 million. However, the return on investment from having a liquor license is significant for any type of bar and grill restaurant.
Like most eateries, a financial institution is willing to put up some of the needed capital as it relates to real estate acquisition, furniture, fixtures, equipment, and opening inventory. It can be expected that a financial institution will be willing to put up about 80% of the capital that may be needed in order to launch this type of business. The remaining 20% needs to come either directly from the owner or a third-party investor.
Typically, the down payment that is provided by a third-party one owner is used specifically for the working capital cost of the business. Of course, a bar and grill restaurant business plan is going to be required, and this document should feature a three-year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page that features industry-standard information.
The restaurant industry is one of the country’s largest businesses with more than 600,000 individual companies owning or operating one or more retail restaurant locations. Annually, the restaurant industry generates approximately $710 billion revenue and provides jobs for about 15 million Americans. Average payrolls in each of the last five years have exceeded $200 billion. One of the nice things about the restaurant industry is that it is not subject to very many changes in the way that people go about their lives. Regardless of automation, technology, and other factors that are frequently changing in American life – people are always going to want to go to restaurants.
As with any business planning document, a full demographic analysis of the target market should be included as well. This includes over viewing median household income, median family income, population size, population density, and the percentage of people that go out to eat at least once a week. Given people’s very hectic and busy schedules these days, almost 45% of Americans eat out at least once a week. This should be one of the focal points when developing the marketing plan as well as producing the demographic analysis.
A bar and grill restaurant marketing plan also needs to be developed as well. This is going to be one of the central aspects to the entire business planning process given that there is an extensive amount of competition among restaurants. Foremost, the bar and grill restaurant needs to have a large-scale standalone website that showcases the operations of the business, it’s menu, pricing information, catering information, location information, and how to make a reservation. Frequently, many restaurants will integrate functionality onto their websites allows individuals to either directly place orders for take away food or make a reservation at the facility. Given this is becoming more and more commonplace among restaurants, it is imperative that the owner operator in traduce and integrate this functionality into the website in order to remain competitive. This website should be listed among all major search engines including Google, Bing, and Yahoo.
Outside of the standalone website, and expansive presence on social media platforms should be developed as well. This includes maintaining dedicated pages on platforms such as FaceBook, Twitter, Google+, Instagram, Yelp.com, TripAdvisor.com, and LinkedIn. One of the nice things about FaceBook is that they allow individuals to write reviews regarding their experiences at the bar and Grill restaurant. By having a number of stronger views on these platforms, people will be more inclined to go to the restaurant especially if they are tourists traveling from out of town and are looking for a good place to eat. Additionally, there is now new functionality on social media platforms allows people who are looking for recommendations to be pointed in the direction of popular locations. Although it can take a year or two to develop a strong number of reviews, a bar and grill restaurant will benefit substantially over the long run by maintaining a dedicated presence on social media. A third-party social media consultant can be hired to manage this aspect of the restaurant operations if it is economically feasible to do so. Finally, as it relates to social media – once a large following is developed then the owner can quickly disseminate advertisements and discounts for these platforms which can provide a significant amount of traffic on an ongoing basis.
Beyond online marketing, a bar and grill restaurant also needs to maintain a significant amount of print advertisements including distribution of menus to households within the target market radius for take away orders, distribution of coupons, and other types of print marketing that will increase the visibility of the business. Many restaurants will frequently take out half page to full-page advertisements in local and regional newspapers in order to boost the visibility of the business concurrently developing televised advertisements that will appear on cable television networks.
A restaurant marketing firm can also be hired in order to effectively have a number of different channels managed by one third-party marketing firm. While hiring a restaurant marketing firm is an expense both as an upfront fee as well as an ongoing cost – the return on investment can be significant given that these businesses focus specifically on being able to drive traffic to a new restaurant location. As such, a bar and grill restaurant can benefit significantly by hiring a third-party firm to manage this aspect of its operations.
A bar and grill restaurant SWOT analysis should be produced as well. As it relates to strengths, most bar and grill restaurants are able to remain profitable and cash flow positive in most economic climates given that these businesses typically operate as a business casual eatery and have moderate pricing points. Additionally, the gross margins generated from alcohol sales can substantially reduce the risks of operating a standalone restaurant facility. For weaknesses, there is always going to be a significant amount of competition in any market whether it’s a small city or major metropolitan area. The owner-operator is going to need to find ways to differentiate its business from that of other companies within the market. For opportunities, beyond operating something like a food truck in order to boost visibility many bar and grill restaurants will also offer catering services. Once these relationships are developed with companies like event planners a bar and grill restaurant can benefit heavily by being able to fulfill extremely large orders that are delivered to a specific location. Not only does this produce additional revenues, but it also produces a significantly greater amount of visibility for the business on an ongoing basis. As it relates to threats, given that restaurants have been around for hundreds of years and will continue to do so – there’s really nothing that is can impact the way that these businesses operate moving forward. There is expected to be a greater amount of competition within the market as the population grows, but this is a risk faced by all businesses.
A bar and grill restaurant can be a highly secure and highly regret of investment for an experienced restaurateur. Most people are familiar with the fair that is offered at these eateries, and therefore equally sought after by people who are looking to have dinner outside of their home. The moderate to high gross margins from food and alcohol sales almost always ensures that these businesses can pay their underlying financial and debt obligations on a month-to-month basis.