Writing a top restaurant business plan is beyond just putting your ideas on paper and transferring them to a professional business plan software you purchased.
I am currently a partner in a Los Angeles restaurant group that is structuring the financing to open up 15 restaurants, 2 food trucks, 2 catering kitchens.
Since I have more than 15 years of experience in writing business plans, private placement memorandums, offerings, etc, I thought doing one for my own deal would be a walk in the park.
Little did I realize how much information needs to be customized for an original or franchise restaurant specific to a city, theme, etc.
Further, my experience was not only about writing one but making sure that the team I assembled was “the dream team” with experience in operations, management, etc that would be strong enough for us to secure the financing which in itself is becoming an extremely creative endeavor.
Many startup restaurant entrepreneurs come in with guns blazing on how much they should give up to investors without properly understanding that the kind of terms and security offered (SAFE, Convertible DEBT, common, preferred, LLC Membership Unit, etc) in 2017 is a much different world than 5 or 10 years ago.
Further, preparing a professional restaurant business plan has some many parts when it comes to estimating the correct financials, marketing, social media strategies, and long term growth potential.
Also, entrepreneurs in restaurants really need to be realistic about where and how they try to get financing. A questions comes up of equity vs. debt and SBA loans, and the latter is only reserved for higher income and perfect credit score entrepreneurs.
While family and friends are always the best source of capital for a new restaurant, if those options are not available, there needs to be a safety net and option B on where to source funds.
If you are looking to for professional business consulting and restaurant business plan preparation, please contact me at 310-651-0799 or email@example.com.