Professional Help with The Creating of Business Plans for Restaurants in South Africa
You are passionate about food, service, and creating memorable experiences. You love the idea of owning and running your own restaurant. However, the high failure rate of small businesses in South Africa and the many risks involved in owning a restaurant are among the reasons why financial institutions are wary when it comes to the financing of non-franchised restaurants in South Africa. However, with our expertise in creating business plans for restaurants, we can help you put forth an exact and workable proposal for investors, crowd funding, or bank-related financing for your restaurant, thus improving the potential for investment funding.
According to the article and study titled “Customer experiences and expectations of sit-down restaurants. An auto-ethnographic perspective on restaurant failure”, as published in the African Journal of Hospitality, Tourism and Leisure, Volume 7(3) of 2018, non-franchised restaurants are more likely to fail. Accordingly, several factors affect the failure rate of restaurants, including customer experiences, location, operational expenses, poor communication, poorly developed mission and vision statements, failure to do market research, changes in management or ownership, and a lack of experience in the industry. Several other factors also play a role, such as demographic, cultural, and economic changes.
With so many factors to consider, it thus makes sense to seek professional help in the creation of business plans specifically for restaurants. Unlike with franchise models, independent sit-down restaurants do not have set models to use for income projections. With the help of professionals, experienced in creating business plans for the hospitality industry, you can avoid many of the pitfalls associated with the buying or setting up of restaurants, even without set income models available.
Such business plans include properly drafted mission and vision statements, projections based on demographic studies, and proper market research. In addition, sound financial analysis methods are followed, providing you with a true picture of the potential of a particular restaurant model for a specific location. In addition, our team’s analysis helps you to determine the capital required, whilst also providing the information to help investors understand why you need the capital and see the potential of the concept.
Approaching investors to help you open a restaurant starts by getting help in creating a business plan. Our team of professionals works with you to understand your vision, and can handle everything from the demographic studies to the financial analysis in creating a proposal that can be used to get financing or investment. In addition, the plan provides you with a balanced view of the restaurant’s potential and viability.
Making your dream of owning a restaurant come true starts with getting help from professionals, known for the creating of business plans that are well-researched and relevant to location, demographics, and industry. Get in touch for more information and professional assistance.
