Restaurant concept development

3-4-year-restaurant-business-plan

A restaurant concept must be clearly defined to be successful

You are ready to take the next step to owning your own restaurant. What’s the next step?  Restaurant concept development.  To become the next great restaurant your concept should be clearly defined to create a unique identity and stand out.  Your concept choice will act as a stepping stone to future decisions and investments, such as location, equipment purchases, number of employees and the kind of marketing strategy you will need.  Here are a few tips to help with your restaurant concept development.

Menu

At a basic level a restaurant is defined by the type of food served.  Guests want to understand what type of cuisine to expect before the show up at your door.  Deciding on the type of food that you want to serve is the first step into developing your restaurant concept.

Type of restaurant

When developing your restaurant concept it’s important to know which segment in which your business falls.  Fast food, fast casual (slightly more upscale than fast food), casual (reasonably priced food in a casual atmosphere and commonly include a bar), or fine dining.  Deciding what type of restaurant you want to open will help to make other decisions down the road.

Target market

The next step is to define your target market.  Who is it that you are trying to attract?  This is extremely important when deciding on location, price point, and menu.  For example, if you want to open a restaurant with an upscale atmosphere, fancy appetizers and a lounge-like environment, you may want to market to young professionals with high disposable income.

Outline your restaurant concept

Be sure to spend adequate time outlining your concept on paper. Considering all the factors above, jot down your ideas.  Continue to refine until you have a clear vision of what you are trying to deliver.  Outlining your concept idea is especially important for your business plan and be able to present an effective plan to your investors.

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