Restaurant Start-up – Feasibility Studies And Business Plans
During start-up, we will evaluate the feasibility of your concept and location to ensure the protection of your investment. A well conceived feasibility study and business plan will provide your team the confidence to avoid crucial missteps and financial loses.
Feasibility Study - A feasibility study is an invaluable tool in evaluating the probability of success and risks associated with your restaurant project. Our team will travel to your location and compare your concept’s unique features with your specific site attributes and then present a financial forecast of your business to you. Typical with most feasibility studies we will:
- Conduct site visit to inspect nuances of your location, the local community, and competitive set
- Establish the primary, secondary and tertiary trade areas
- Analyze the dominant demographic and lifestyle groups in your trade area
- Determine the target guest profile and depth of guest profile within the primary trade area
- Determine the size of the targeted groups
- Review the competitive set of restaurants
- Determine over-served and under-served concepts and categories to identify the holes in the market
- Establish other popular restaurant concepts in the market for comparison, opportunity, and missing concepts
- Evaluate sales performance of local restaurants vs. national averages
- Review and identify all possible traffic and location barriers for the current site
- Present estimated annualized sales projections for the new restaurant concept based upon our findings
Business Planning - A business plan is a formal presentation of the business goals, the reasons why we believed they are attainable, and the plan for reaching profit goals and creation of wealth. We find a well organized business plan can greatly improve your restaurant’s ability to consistently establish and meet objectives in a way that best serves the company’s owners, employees and investors. At The Gilkey Restaurant Consulting Group we will deliver your business plan addressing the following topics and more:
- Confidentiality Agreement
- Executive Summary
- Market Analysis
- Business Overview
- Assumptions and Explanations
- Products and Services
- Operating Model
- Management and Ownership
- Funds Required and Their Uses
- Mission Statement
- Year 1 Sales and Profit Projections & Breakeven
- 5-Year Projection
- Return on Investment Analysis
From startup to opening day, we will guide your team through the project calendar resulting in a successful opening.
