Market Overview Business Plan

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Last week marked the launch of How to Open a Restaurant, Open Table’s complete digital guide to starting and growing a restaurant business.

We partnered with hospitality consultant Alison Arth to share tips, stories, and best practices from the best in the business (think the groups of Daniel Boulud and Danny Meyer, plus restaurateurs Gavin Kaysen and Aaron London).

This section is most relevant for fine-dining concepts, concepts that have a unique service style, or if you have particularly strong feelings about what role service will play in your restaurant.

It can be a powerful way of conveying your approach to hospitality to investors by explaining the details of the guest’s service experience.

Your business plan will be the road map from which your new restaurant develops.

No matter how much thought you’ve put into your concept or how many trusted colleagues have assured you of its greatness, you absolutely must write a business plan.

You probably won’t have a specific site identified at this point in the process, but you should talk about viable neighborhoods.

Don’t assume that potential investors will be familiar with the areas you’re discussing and who works or lives there — make the connections clear.

The menu is the most important touchpoint of any restaurant’s brand, so this should be more than just a simple list of items.

Incorporate your logo and mock up a formatted menu design (tap a designer for help if needed).

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