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What Should Be Included in a Restaurant Business Model?

Starting a new business can be very exciting. The thought of working for yourself and creating something new—not to mention making a lot of money—is a prospect many people toy with but may never actually realize. That’s because it can be a very challenging and daunting task, too. It takes a lot of time, effort, and money to start a business from the ground up. There are a lot of sleepless nights and you’ll probably have to go out and look for money to get your business up and running. And there are a lot of other things you have to consider before you open up your doors to the public, whether you’re a designer, retailer, or a restauranteur. If you’re not afraid of taking the plunge and you want to open your own restaurant, you’ll have to come up with a business plan before you even begin your footwork. Read on to find out the basics about business models and what you’ll have to include in yours.

Key Takeaways

  • A business model is a plan for the creation of a profitable business.
  • The model lays out a company’s products and services, its marketing plan, and financial projections.
  • A restaurant’s business model must include the menu and its unique value proposition—what it offers to customers that others don’t.
  • Other key factors include its target market, the competition, its marketing strategy, and its financial projections.

Business Models 101

Unique Value Proposition

Target Market

The Competition and Marketing

Startup Costs and Projections

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