A complete guide on how to start your business plan
This guide is specifically built to help you minimize the revenue impact of the coronavirus on your restaurant. The outline below will get you started on building a plan to optimize your business to not only keep your doors open but also be prepared to capitalize on opportunities and expand into more locations in 2022.
Planning & Location
There are a few questions that you should ask yourself first:
Why do you want to open another location?
What has made your brand successful?
How much of your success is due to the actual location of your restaurant?
Can the same success be transferred to another location?
Who will be your competition?
Does the area need another restaurant?
Does this area fit your ideal audience?
The answers to these questions can reveal a great part of your next step.
Hire the right staff and management
You can’t physically be in two places at once, so you need to hire management you can trust to handle your restaurant’s day-to-day operations. Or better; you can invest in an effective point of sale system that will keep an eye on all your restaurant’s operations.
Create a marketing plan
Your marketing plan should be unique for each location. The target audience of each location requires a custom marketing plan. You will want to outline your strategy for your new location, especially for your restaurant’s grand opening.
Review your menu
If your new location has different types of consumers and demographics, then your pricing and menu options should be customized to this new location. However, if you are opening the same concept in a nearby area with more or less the same type of audience, then you might consider starting off with the exact same menu as the first location. Later, you can compare menu item popularity and adjust as needed.
Study market demands
During covid-19, the need for contactless methods increased tremendously. Therefore, you should take into consideration adopting new techniques to be able to keep up with market demand. For example, offering online ordering, digital menus, digital receipts, QR code reward points, and online payment can create a remarkable effect on your business.
To conclude, combining all of these within one point of sale system can save you time and money. The right system is one that enables you to grow and easily integrate to other software solutions. When considering an investment in a POS system, think ahead of how beneficial this software will be for you years ahead from today. This will help you choose the system that can help you scale and grow.
