CHINESE FAST FOOD RESTAURANT BUSINESS PLAN SAMPLE TEMPLATE
Planning on starting a Chinese restaurant? Here are some tips on how to start and run such an outlet which might be very helpful to you as an intending investor as the world present recession is gradually making everyone an entrepreneur.
Before you venture into starting this business, here are some vital steps to consider to avoid failure of any kind.
Here is a sample business plan for starting a Chinese restaurant.
- GET A CHINESE RESTAURANT BUSINESS PLAN
As the saying goes, “By failing to plan, you are preparing to fail.” Every business needs adequate planning and a Chinese fast food restaurant is not excluded. Before setting up a Chinese fast food restaurant, you should have a proper business plan at hand, and these business plans should include a description of your restaurant’s concept and operation.
Also, when making the business plan for your Chinese restaurant, include the type of Chinese cuisine that will be on the menu and price range. Decide what you want, either customers who prefer to take out, a buffet menu or table service. Remember “hope for the best, prepare for the worst”.
- RAISE CAPITAL
After making a proper business plan, you should start thinking of raising enough capital for your business, like the saying goes, “before building a house you should count the cost”, You should be able to write a detailed financial section in your business to prepare to loan institutions so that your loan application can be considered.
You should also list out the cost of startup capital, then map out how much long term income you expect from the business, and expense forecasts.
Try to figure out how many employees you will need and how much it will cost to hire them. Don’t borrow excessively to start up your business.
- CHOOSE A GOOD LOCATION FOR YOUR RESTAURANT
In every business, especially this type of fast food business, location is a very crucial factor to consider before setting up your business, because it determines how many customers you will be getting daily.
If your company is located in a place with little traffic and visibility, your business will most likely not be successful.
It’s advisable to get it situated in highways, business street, shopping malls or colleges.
- CONSIDER HEALTH AND SAFETY CODES
When establishing a Chinese fast food restaurant, you must consider the health of your customers and staff, gather information about all federal and state regulations on health you must meet before opening a fast-food restaurant.
Each state or country has its own laid down rules and regulation which guilds the body, as well as license and permits you must obtain.
Verify with your states department of licensing and regulations, or the department responsible in your state, which licenses and permits you to need to open your business.
- EMPLOY WISELY (CHEF AND STAFF)
In this kind of business, part of the success lies in the hands of your workers. This is because they are the ones that are dealing directly with the customers. You need to employ and have a good team, without a good team there is no way you can succeed in a Chinese fast food business.
A good chef with years of experience in Chinese recipes will make a fabulous restaurant because he or she must have undergone training on how to prepare different cuisines, you also need staff such as service attendants, waiter, cleaners, security, etc.
To succeed with a Chinese fast food restaurant, you need to be very careful when employing your team to achieve optimal success.
- ADVERTISE YOUR BUSINESS
Starting a Chinese fast food restaurant? You should be ready for constant promotion until you reach the point where you are popularly known. This does not mean you will not run any promotion again; you will only reduce the money spent on advertising.
If top brands like Coca Cola and Nike can still be spending millions of advertising everywhere, who are you not to.
You need to create awareness and reach out to customers to get you started, this method includes social media, online platforms, flyers, television advertisements, word of mouth, banners, and radio. Although, you may not necessarily need to advertise for a long period you need it for a start.
- GET STARTED
To get started, you must have done all the requirements to get started, make the launch day known, invite friends and family and others to launch. Make available gifts if possible, give a discount, at most one to two weeks after launch, you also need to be innovative in your service by including home delivery and give a discount on a huge purchase.