Mcdonald University School Of Hotel Administration

Opening a restaurant sounds like a great plan, and you have prior knowledge of how the business run help with success of the restaurant. There are so many factors to keep in mind with a restaurant not only keeping the guest happy to come back again, hiring the right staff is also the key. I think people forgot what it takes to run a successful restaurant so having working general ledger and keeping it up-to-date will help. Thus, allowing owner to review and see how the business is doing at any giving time. Furthermore, using your past experience from previous restaurant worked and learning from their mistakes would help improve your business.

Through extensive market investigation and by talking with the struggling restaurant manager, I have come up with top trends and with the reasons why restaurants fail.

Restaurants are considered a luxury product, not necessarily a necessity. This industry thrives when the economy is growing and people have disposable income, however a decline in the economy would undoubtedly cause much stress and worry among restaurant

Food business is a lucrative source of finances for some lucky individuals. Running this type of business is both intoxicating and challenging. It cannot be denied that even you are cautious in managing a restaurant; problems may arise such as bankruptcy, damage to property, theft or lawsuits. A business plan along with restaurant insurance is necessary to minimize problem in the future, and enable you to focus on serving the best cuisine in town. Here is the coverage you get from restaurant insurance Chicago:

What makes a restaurant successful? There are many factors that come into play when considering opening a restaurant. You must look at many categories and be sure to cater the design, atmosphere, menu items, and even pricing down to a tee. I found articles written by professionals who have all had extensive experience in creating a restaurant from the ground up. While there is never a sure-fire way to make a restaurant, successful these are just some of the values that the top names in the industry consider to be important.

-I do agree that a business plan is extremely important, as the quote in the video stated “ by failing to prepare, you are preparing to fail” Benjamin Franklin, so a business plan is extremely important because it will help understands the business better, clarifying the purpose and direction of the business. As the business grows, the directions into the business plan can be an effective way to plan for changes in the market.

A business plan is the core of your business and a must have. It is the roadmap that brings your business idea into a reality. A business plan is a written document that describes in detail how a business, usually a new one, is going to achieve its goals. It guides your business from the start- up stage to developing, growing and managing your business. It can also be used to get funding.

The foundational element of any successful marketing strategy for a restaurant is creating a unique, highly valued experience for the customer, and being able to repeatedly deliver excellent results with each visit. The differentiating elements of restaurants are often initially defined by the food or drinks served; yet it is the experience that is delivered on a consistent basis that means the most to customers over time and leads to their loyalty (Murphy, Forrest, Wotring, 1996). For the marketing strategy of a

Create and build a restaurant business plan to capture Guest demand and grow sales & guest counts by increasing frequency of visits

What is a business plan? A business plan is a written statement of the goals and objectives for the business and the steps to be taken to achieve them; it is a document that spells out a company's expected course of action for a specified period, usually including a detailed listing and analysis of risks and uncertainties. It simply a guide for your business to become a business that you want.

The restaurant industry was projected to have $604 Billion sales in 2011, which is approximately 4 percent of the projected total GDP of the United States according to the estimate from National Restaurant Association. The industry has been expanding since the 1960s, mainly due to the boom of quick service restaurants such as Yum! Brands Inc. and McDonald’s. The long term expansion of the restaurant industry is expected to continue as the major players in this industry are focusing on providing healthier and less expensive food for both Americans and customers’ abroad. The restaurant industry provides two categories of services: fast food and full-service restaurant. The fast food restaurants mainly serve products including sandwiches, and pizza. Those restaurants attract customers by offering

The service industry is incredibly divers. There are different scales, menus, ambience and customers, but all these businesses have a common goal to sell food and beverages to a target market they hope will be stratified, and they hope to be profitable (Ojugo, 2010). To make the restaurant business successful and make it stand out, the right choice of suppliers, merchandising of the product and every step is an indispensable element.

Business plan is the detailed information that used for panning the business. It's vary in the structure depend on the business owner desire. It may be a small plan contains some words or it could be a big one with a title page, methods, procedures and calculations. The perfect business plans – as per the Entrepreneur Magazine- are ranging between 15 and 20 Pages.

A well-written business plan is a crucial ingredient in preparing for business success. Without a sound business plan, a firm merely drifts along without any real direction. Yet, entrepreneurs, who tend to be people of action, too often jump right into a business venture without taking time to prepare a written plan outlining the essence of the business.

     Running a restaurant can be one of the most stressful jobs as well as the most fun and rewarding jobs. If the manager is a good leader with excellent leadership skills and has great followers the restaurant will be rewarded. If not the restaurant will plummet in sales and no one will be pleased. While developing a business. staff is important to running a successful restaurant, it is also essential that management focus on its public relations as well as its sales and marketing strategies.