Restaurant Business Plan Template

Restaurant Business Plan
12
In FSRs, waiters take orders, serve beverages and meals, present the check, and process
payment. FSRs include casual dining (full bar); family dining (limited bar); and fine dining
establishments.
Annual sales average $860,000 for FSRs.
An FSR's square footage and the number of seats and tables dictate how many patrons it
can serve (also known as table turns or covers) directly affects sales. Because the restaurant
industry is highly competitive, site selection is critical: companies may consider population
density, household income, competition, visibility, accessibility, and traffic.
Companies carefully manage inventory of perishable food products, such as fresh seafood
and dairy goods, to reduce losses due to spoilage.
Computerized information systems can improve and link food preparation and serving
operations. Touch screen ordering programs ensure accurate communication of customer
orders. Timing systems monitor meal progress and can alert staff if an order is running
behind schedule. Reservations programs maximize traffic flow and seating. Inventory
management systems track supply levels and can help reduce waste due to spoilage. Cost
accounting programs help companies determine the profitability of individual menu items.
Handheld point-of-sale (POS) devices allow servers to place orders and print checks
tableside, improving accuracy and reducing ordering time. Some handhelds can also print
customer checks and process credit card payments. (First Research)
4.1.1
Market Size
The US restaurant industry includes about 480,000 restaurants with combined annual
revenue of about $400 billion.
4.1.2
Industry Participants
Major participants include Major companies include McDonald's; YUM! Brands
(KFC, Pizza Hut, Taco Bell); and Darden Restaurants (Olive Garden, Red Lobster).
4.1.3
Main Competitors
The following restaurants are located within a five mile radius of THR:
Hedarys Restaurant - This is a full service family restaurant established in
1977. The 5,000 SF restaurant run as a sole proprietorship, has 17 employees
and generates $1.7 million in revenue annually. Prices are higher than THR
and range from $8.00-$20 per entrée.
Applebee’s - This is a chain restaurant offering standard fare. The food
quality is average. Entrées range from $6.99 - $20.
Chili’s – This is a chain restaurant also offering standard fare. Food choices
are varied and prices range for $8-$21.
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