Famous Indian Executive Chefs like Suvir Saran, born in New Delhi and working in New York, have introduced the U.S. to the delicious flavors of traditional Indian foods. Just as importantly, the chefs have inspired others to bring true Indian home cooking to the industry. The industry is booming as diners prove over and over again that they appreciate the expert use of spices like curry in dishes that uniquely blend flavors and textures. Opening a restaurant requires a great deal of advance planning, which is why there is always a long delay between the announcement of a new eatery and the grand opening.
The Indian restaurant business plan will includes in-depth analysis of markets, competitions, and finances.
• Restaurant location and whether the space is leased or owned
• Restaurant style, i.e. high end, family dining, full service, buffet style
• Planned amenities like adding a lounge, serving alcohol, or providing entertainment
• Additional services offered like carry-out, home delivery, specially priced lunch buffets, and catered events
• Ethnic or regional Indian food menu options and other options like American or international foods
• Market analysis supporting location in terms of traffic and clientele
• Legal structure, i.e. sole owner, partnership, or corporation
• Startup costs, including dining room and lounge furnishings, kitchen equipment, space remodeling, office equipment and software, security system, etc.
• Restaurant design style, including theme, patio arrangement, table setups, etc.
• Negotiated vendor contracts, paying special attention to sources for exotic or unique recipe ingredients
• Staff requirements, i.e. chef or cook, kitchen and dining room staff, shift managers, lounge staff
• Customer demographics, i.e. couples, families, business people, tourists, and so on
The restaurant owner’s industry knowledge and experience is a critical factor in attracting investors. The complex nature of running a restaurant means the owner and manager need to know how to price menu items based on frequently changing ingredient prices, maintain a steady supply of supplies and ingredients, meet health department standards, and manage the inherent risks like seasonal fluctuations and shortages. One of the common mistakes restaurants make is starting out too big at the time of the grand opening, and in the process creating too much overhead while trying to build the business. A better approach is to start smaller and grow by developing customer loyalty and through marketing and word-of-mouth references.
There is a high failure rate in the restaurant industry, and one reason is lack of planning for risk mitigation. OGS Capital (https://www.ogscapital.com/) has extensive experience working with restaurateurs during the planning stages of a restaurant venture and developing a solid business plan as a roadmap for startup and growth.
Illustrative business plan samples
OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.