A solid business plan is the critical first step in getting funding for your restaurant. Many entrepreneurs struggle with this aspect. You are not alone! The pristine vision you have for your future business will now become numbers on reports for potential lenders. Although a business plan does not convey all of your original ideas, your financial plan is the first formal step to your dream. Having the right information, in the right order, will ease your restaurant through the lending process.
Many individuals believe they can write and present a successful business plan without professional assistance. It is true that some may accomplish their goals on their own. However, many fail when they should have been successful simply because of not having a professional team on their side. We will provide you with the steps, analysis, and methods leading to your successful business plan.
TRG: The Restaurant Group will help you to have exactly what the lender needs in order to have bank approval. The following are a few of the things we will help you include in your business plan:
- We will work with you in order to craft a successful mission statement. One that is true to your vision. Many well-intended mission statements are unclear or lacking focus. Lenders may see an “average” mission statement and reject funding without looking any further.
- One and five-year sales and profit projections are also essential in convincing a lender that you are a good risk. Again, this is a part of your business plan that TRG can help you create.
- Our successful team will help you confidently present your business and marketing overviews to potential lenders. Although it is true that you can read an unending number of books on this topic, books cannot beat the experience of our team. This is our business! It is what we do and we do it better than our competitors!
- The last predominant piece of your business plan is creating a rough draft of your menu. Clever names for a sandwich, while catchy, will not be relevant to a lender, therefore that is not the focus of the rough draft. Lenders want to see a menu that can be sustained by your sales plans and marketing strategies.
TRG: The Restaurant Group will empower you with all of the tools needed to create a successful business plan. We will create all documents in electronic form so that you are able to make small changes as you get closer to meeting with your lender. We are always available to help with last-minute adjustments as well. Partnering with TRG will get your business off to the start it needs in order to thrive.
