Business plan of fast food restaurant will be better initiate both in cities and towns. Runumber recommends: amount of investments – $16k, payback period – 1 year, profitability – 80%.
Market Overview of Fast Food Restaurant Business
The market for fast food can hardly be considered promising, since its growth is slowing down every year. However, everything depends on the economic situation in the country and the solvency of the population. Experience has shown, аs soon as the income level decreases, the popularity of fast food grows. At the same time, increased incomes stimulate people to prefer restaurants over the usual fast food venues. Nowadays, almost the entire fast food market is divided between the three major players: McDonald’s, KFC and Burger King.
Only small local fast food venues with the unique selling point have a chance to attract clients. For instance, it can be super delicious burgers cooked by the chef within three minutes.
The fast food market in small towns is almost empty, international brands are not present here. Sometimes it may be an opportunity for the business plan about fast food.
Peculiarities of Fast Food Business
The speed of cooking and serving the clients is the main feature of this business. A menu should be standardized and well-thought with a total time of cooking not exceeding three minutes. The main efforts must be focused on the staff, since it is the crucial point in launching the startup. The number of employees should be enough to accept the order quickly, process it and bring the ready meals to the tables. During the lunch time, it’s necessary to clean up the restroom and the hall rapidly and do everything possible to avoid emerging queues. Sample business plan of fast food restaurant may also be based on using digital points of orders reception that help save money on staff. You can experiment with remote Internet ordering services.
If you want to open a fast food venue in a big city and lure a client from the above mentioned leaders, you have to consider the menu carefully and make sure it can feed people as well as surprise them.
Similar financial plans:
- Food Delivery Service Business Plan
- Snack Bar Business Plan
- Business Plan for Healthy Food Restaurant
Equipment Necessary for Fast Food Restaurants
The menu and the way of cooking the dishes influence the costs of future investments. That’s why businesspeople ask to make a business plan in advance. It allows predicting the need of different equipment. The amount of up to $20,000 is invested in kitchen equipment. If you plan to purchase new equipment, the budget may increase by 20-50%.
As for the premises, it is highly desirable that they are located in the city center or in busy places. You can also consider options for renting premises near universities, where there are always many potential clients. Do not forget to install a fast Internet connection, sufficient to serve all customers. Outlets with a high-speed Internet are more likely to attract an audience of young people.
Peculiarities of Advertising to Consider when Preparing Business Plan for the Fast Food Restaurant
Fast food restaurant business plan must include a section on advertising campaign that should be focused on returning the client. You can use the system of cumulative points or discount cards. In addition, it is necessary to introduce novelties on a regular basis to maintain the visitor’s interest in the outlet with the same menu. Novelties should be introduced without bearing the costs of acquiring new equipment. It is equally important to pay attention to packaging. Fast food is served in one-time packaging, so it must be functional and recognizable. To do this, remember about allocating funds to cover expenses on design and updating of corporate style.
Find out how to use financial calculations for developing business plan on Sample of Pittsburgh Brewery Business Plan by Runumber