• Creating a Small Restaurant Business Plan, Part III

    1/11/13  |  By: Doug
    Creating a Design for Your Small Restaurant Having settled on a concept for your restaurant and developed a theme for your menu, you are ready to consider the next phase of your small restaurant business plan: the design of the establishment. At this point you are thinking about a generic design, not one tied to a specific location. Identifying the location is the next step. Before you can hunt for an actual location, you need to have specific criteria for your restaurant. This is...
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  • Creating a Small Restaurant Business Plan, Part I

    1/9/13  |  By: Doug
    Developing a Concept for Your Small Restaurant Opening a small restaurant is a dream for many of us. Whether we fantasize about turning a hobby into a career or we simply see a void that is left in the local market, there are many reasons to turn that dream into a reality. This starts with a small restaurant business plan. Entrepreneurs must take the time to thoroughly develop a business plan prior to embarking on any new journey. Restaurant ownership is no different from any small...
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  • Top Food Franchises for Entrepreneurs

    12/13/12  |  By: Doug
    Why Choose A Food Franchise? Entrepreneurs who aspire to be business owners have a wide variety of options when it comes to investing in a franchise. Selecting a restaurant is a reliable option, regardless of changing economic conditions. Industry reports indicate that the top food franchises will continue to grow and be a strong factor in the economic recovery of 2013 and beyond. Resources for Choosing the Right Franchise Shifting demographics and customer tastes are changing...
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  • Small Town Restaurant Success

    1/31/14  |  By: Doug
    One of the great things about writing blogs is that your writing remains accessible for years.   I wrote a book just a few years back, and (I’m going to toot my own horn here for a moment) it won an award as the #3 personal finance book of the year that year, but just a few years later it’s pretty tough to find one. On the other hand, a blog post from many years ago is easy to find.   This is a boon for readers, too, as great ideas are never lost.   Case in...
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  • Creating a Small Restaurant Business Plan, Part V

    1/15/13  |  By: Doug
    Developing a Marketing Plan All too often, potential restaurateurs forget the importance of a marketing plan. If potential customers are unaware of a new restaurant, it may as well not exist at all. Marketing is vital to getting making the public aware of your new venture and all that you offer. Every small restaurant business plan must include a thorough plan for marketing. Setting the Budget How much to budget for marketing is largely dependent upon how much you expect to...
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  • Guide to Buying a Restaurant Franchise, Part III

    4/1/13  |  By: Doug
    Make Initial Contact with Your Target Franchisor Once you have settled on the franchisor you wish to target, you can prepare to make initial contact. Do not make casual inquiries; you want their first impression of you to be favorable. Substantial preparation should be completed prior to establishing direct contact through the franchisor’s website. Expect the franchisor to thoroughly scrutinize you.   Many questions will be asked including your financial standing, history...
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  • Creating a Small Restaurant Business Plan, Part II

    1/10/13  |  By: Doug
    Creating a Menu for Your Small Restaurant The menu is the primary reason for a restaurant. Creating a menu is perhaps the most exciting aspect of the small restaurant business plan. However, it is also important to use strategic thinking when planning the menu, its contents, and the prices. In general, the menu theme should be one that reflects our abilities and desires. It should also reflect the tastes of the community while offering something different. The menu theme is the...
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  • Creating a Small Restaurant Business Plan, Part IV

    1/14/13  |  By: Doug
    Identifying a Specific Location Location is one of the most important factors in determining if a restaurant is going to be a success. However, not all locations are created equally. There are a number of points to consider when determining location as a part of a small restaurant business plan. Fit with Your Design Criteria In the last post, we discussed developing the design criteria for your restaurant. These criteria are based on your concept. They allow the physical space...
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  • How to Find a Restaurant for Rent

    10/23/13  |  By: Doug
    Anyone can open a restaurant but finding a restaurant for rent that will be a success is a different story. Running a successful restaurant is a delicate balance between finding the best location available and serving great food once you open. A prospective restauranteur should consider everything about an available location prior to signing a lease. The location, permits, visibility and available equipment should all be evaluated carefully before choosing a space. Location of...
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  • Guide to Buying a Restaurant Franchise, Part IV

    4/3/13  |  By: Doug
    Understand Your Commitments   Having surveyed the available franchise opportunities, selected the one that fits your personality and talents best, and made contact with the franchisor, you can dive into the details of owning the franchise. Remarkably, after buying the franchise, many franchisees are surprised to find that some important details have been overlooked. Careful investigations must cover a variety of important details to prevent costly mistakes that can lead to...
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  • Choosing the Best Restaurant Locations

    12/28/12  |  By: Doug
    When running a restaurant, you learn quickly that having an excellent location is just as important as providing a good menu and quality service. The location has a substantial impact on the overall success or failure of a restaurant. When scouting for prime restaurant real estate, it can help to keep specific factors in mind: Demographics Tap your local business agencies, such as your local Chamber of Commerce, to get some insight on the surrounding area’s population. A...
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  • Guide to Buying a Restaurant Franchise, Part I

    3/27/13  |  By: Doug
    Narrowing the Field of Potential Franchisors Entrepreneurs have many choices when deciding to start a business. If you want to own a restaurant, buying a franchise offers an opportunity to benefit from a proven concept rather than having to invent one on your own. This can substantially reduce the risk of opening a restaurant. While franchise opportunities are plentiful, you should learn how to evaluate the alternatives in order to select the one that best matches your skills and...
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