Middle Eastern Restaurant Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Middle Eastern 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 Middle Eastern 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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Middle Eastern restaurants have become extremely popular within the United States given that there has been an influx of immigrants from Middle Eastern countries over the past 30 years. Many more Americans are now familiar with traditional Middle Eastern cuisine and there is a very strong demand in almost every major market – both urban and suburban – for this type of cuisine. The startup costs associated with most Middle Eastern restaurants is relatively low as compared to the rest of the food service industry. These businesses can typically be started with a startup capital amount of $75,000 to $150,000. Of course, if the business is going to be seeking a liquor license or as can be operating in a large-scale capacity than the startup costs are typically higher at the onset of operations. One of the nice things about owning and operating a Middle Eastern restaurant is that the gross margins that are generated are typically substantially higher than that of most restaurants. Middle Eastern cuisine is very driven by nonmeat products, which have a much higher gross of cuisines.
Most financial institutions are willing to put up the necessary capital in order to get a new restaurant business off the ground. Of course, a Middle Eastern restaurant business plan is going to be required. This business plan should feature a three-year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. As it relates to industry research, there are more than 700,000 individual restaurants within the United States and these businesses collectively employ more than 14 million people. Each year, restaurants generate in excess of $700 billion in revenue and provide a payroll in the amount of $150 billion.
The business plan should include an overview of any competitive issues at the business will face at the onset of operations. In most markets, there are generally a limited amount of classic Middle Eastern restaurants. However, an analysis of all eateries should be included within the business plan given that many people have the choice between a number of different types of ethnic cuisine. As such, the competitive analysis should focus on substitute of businesses to the Middle Eastern restaurant. A full demographic analysis should also be included with in the business plan and should showcase population size, population density, annual median household income, and the average amount of money that is spent on a restaurant on a weekly basis. People have become much busier over the past 10 years, and most families wherein at least one time per week or go out to dinner one time per week in order to reduce the stress of having to cook at home. As such, this type of analysis should be included within the business plan.
A Middle Eastern restaurant SWOT analysis is frequently developed as well in conjunction with the business plan. As a release to strengths, Middle Eastern restaurants are almost always able to remain profitable given their moderate operating cost and high gross margins generated from sales. These businesses typically face only a modest amount of competition market. Additionally, the acquisition and use of a liquor license can drastically boost the profitability of the business on a year-to-year basis.
For weaknesses, these businesses always face a number of issues as relates to safe food handling procedures, inventory spoilage, employee issues, and moderate operating costs that must be dealt with on a monthly basis. There are also competitive issues as it relates to any other type of eatery within the target market. As such, special attention needs to be paid to these issues and a proper business plan needs to be developed that will address the procedures and protocols regarding the day-to-day operation of the restaurant.
As it relates opportunities, many Middle Eastern restaurants will expand their operations by developing catering services. Additionally, once the initial location is very successful secondary locations can also be established in order to boost the revenues of the business while capitalizing on the established brand name. In some cases, food entrepreneurs will often develop a food truck to travel within any given market in order to serve food to the general public. This is important to note given that a food truck will not only familiarize people with the restaurants cuisine but it will also boost the visibility of the business on a daily basis. Additionally, food trucks are able to generate revenues anywhere from outside of the restaurant location.
There are two major threats that a Middle Eastern restaurant will face as it progresses through its operations. First, an economic recession can impact the revenues of the business given that many people may decline to eat out in order to save money. The second issue is that there are always going to be competitive threats. However, Middle Eastern restaurants are not subject to issues pertaining to automation and the overall risk profile is moderately low.
A Middle Eastern restaurant marketing plan needs to be developed as well in conjunction with all the other documentation. Foremost, a major grand opening event needs to be held in order to immediately create visibility and traffic for the business. About 10% of the initial start of capital associated with a new restaurant is typically allocated towards the grand opening. It is also very important that the Middle Eastern restaurant maintain an expansive online presence including a proprietary website coupled with usage of social media.
The website should be listed among all major search engines while also maintaining profiles on food review sites like Yelp.com and TripAdvisor.com. Once reviews are established on these platforms, the ongoing marketing efforts required by the restaurant decline sharply. Although it does take time to develop a strong reputation, once it is established the return on investment for maintaining an early expansive more is significant.
As it relates to a presence on social media, almost all restaurants now maintain profiles on FaceBook, Instagram, Twitter, Google+, and related platforms. It is very important to note that many of these platforms allow for individuals to write reviews regarding the experiences they’ve had at any given eatery. As such, once a number of reviews have been established over significant period of time – many people will feel comfortable going to the restaurant to give it a try especially if the reviews have been very good. This is one of the key factors in maintaining a successful restaurant these days given that there is a significant amount of competition in any given market. The company’s proprietary website should also discuss catering operations given that this can be a very lucrative source of secondary income for most food service businesses.
Middle Eastern restaurants are continued to have a surge in popularity. As more and more people are familiar with his cuisine, it is very much being sought out on an ongoing basis. The low cost nature of the cuisine allows for these businesses to be very successful in any given urban, suburban, or rural market.