Every business deal begins with a simple idea in mind and a drive to make it come true. A business owner has to gather his resources and convince investors to give his business a chance to prosper. With this, a restaurant business proposal must be written. It is a document that puts the business in detail and asking for some funding from prospective investors. The proposal is written before the business plan itself, which is a guide as the business is being built from scratch.
Writing a business proposal is not enough. You should know how to make it seem winning so investors will take some interest in it. You need to show investors that you know how to run a restaurant.
Describe your business properly. Go over the menu and other items. You also need to go beyond that, such as the reasons why the food you’re offering will sell to the people and the inspiration behind your the name of your restaurant. Having a clear description of your simple business gives the investors a clear idea of what your business is all about.
The proposal needs to state the target audience of the restaurant. Describe how people of your target market demands the type of restaurant that you plan to run. Include a detailed marketing strategy for the restaurant. State what media platforms the restaurant should be marketed. Your business needs enough marketing to gain brand awareness among the people. You also have to explain your choice of media platform for marketing, who it will reach and its projected payment cost.
State the annual sales and profit projection of your restaurant. Include the sales for the first six months since the start of the restaurant’s operation. You also have to give the date where the investor can get back his initial investment. The profit that you get for one year does not mean the investor got his money back. The positive cash flow that you have now is still used to pay initial startup cost.
Speaking of startup costs, include them in the list in your proposal. These are the costs that you use to operate the restaurant. Divide the startup cost into two: food and non-food. For food costs, these are the ingredients that you use in making your food. The non-food costs include the rental fee, cooking equipment, transportation, employee salaries, and other costs. Include the monthly budget of the restaurant every month.
The restaurant can’t carry its operations with one person alone. Along with your name, include the names of other people helping you in running the restaurant. It also includes the key owners, staff and operations team who will be a part of the restaurant’s launch and operation in the future.
Give a clear summary of the whole report and state the amount of funding you want to have. The executive summary is helpful in summing up the important points of your restaurant business. As for the request for funding, ask for a reasonable amount and make sure it fits your projected budget for the whole restaurant.
Attach some additional documents to the proposal to give more context about the business being presented. It can include photocopies of permits, the budget, price list, and a sample menu.
The very last thing that you have to make after all the writing is on the cover page. Include the title of your proposal, your name, and contact information. Attach a cover letter after the cover page so investors can read it before the proposal itself.
For business proposal formats, writing is not just enough. You have to do a few things that can help you write the much-needed proposal. You are betting your reputation and money to investors with just a single proposal. To sum it up, here are five tips for writing a restaurant business proposal:
Go to a random restaurant and order a meal. While eating, observe how the restaurant works. Take note of how the waiters serve, how fast the order is being made, and the overall ambiance of the place. By observing how a restaurant works, you will gain helpful insights into how you are going to operate yours someday. You can also check out request proposals for restaurants.
If you are a student and taking up culinary as a major, use your internship time in restaurants to observe more on the kitchen of restaurants. How they cook their food and treat their customers are important areas to look at when you plan to own a restaurant. You’d want to take note and be inspired by their concept. You may also check out cleaning proposals for restaurants.
Try to contact your friends and ask about how they wrote their proposals for their restaurants. It also serves as a one-on-one tutorial for you to learn personally from someone who has been through the same thing you’re planning to do. Ask him about the structure of the proposal and some additional tips on how to make it more convincing.
Get samples of restaurant small business proposals online and read through them. Take note of the structure and tone of writing in these proposals. Read up as much as you can. Jot down some important points, which can guide you in writing your own proposal soon.
Proposals fall under the category of business writing. In writing for business purposes, words must be simple and sentences are concise. Always write in simple words to avoid confusion to the readers. Make it sound convincing but in a professional way. Be straightforward in describing the concept and needs of your restaurant. You may also like lease proposal templates.
After all the writing has been done, it’s time to go back to it and see if there are errors. Read through everything and rewrite some parts if need be. Take note of spelling and grammar errors before getting it printed and sent to the potential investors. You may also see budget proposals for a restaurants.
Running a restaurant is a big task that you have to stand up for. Prepare your mind and body as early as the proposal writing phase. Make sure to write your proposal well. How you write it has a big contribution in the investor’s decision to fund your restaurant. You can also check out business proposal templates.