2022 Modern City Restaurant Business Plan in Nigeria – This relates to special business plan for a restaurant in Nigeria. It involves feasibility study on restaurant business in Lagos, Abuja, Kano and other big cities of Nigeria including the setting up of a buka/eatery in big cities of Nigeria. Also about fast food industry analysis in Nigeria.
By wat of explanation, a restaurant is a business entity that specialises in cooking food and selling to the customers. It’s usually a public place where people come and sit down and request for food or drink which they will pay for. In modern cities – cities that are changing every day – there are various sizes and types of restaurants to cater for variety of changing society and peoples’ interests. These types and variety of interests are covered in this article as modern restaurant business ideas.
2022 Modern City Restaurant Business Plan in Nigeria
Table of Contents
As a matter of fact, it is to address the need of the changing society and people in them that I’m writing this 2022 Modern City Restaurant Business plan in Nigeria. But I tell you, Ghana, Cameroon, Egypt, Libya, South Africa, Europe and American cities are all changing.
Therefore, I think you need this piece of 2022 business plan guideline. Jot down your points and then apply. Where you have difficulties, don’t hesitate to call on me or send in your comments. Start with generating systematic strategic business ideas as noted on this post.
Modern Restaurant Business Idea:
Varieties of restaurant also Carter for varieties of tastes and interests. Therefore, there are so many type as listed here.
- Fast food Restaurant – here non-regular types of food are quickly prepared and served to customers, e.g. pastries
- Cafeteria/Staff canteen: The type most banks run in Abuja and Lagos Nigeria.
- Inn/tavern: The tavern or inn is a kind of restaurant in which mainly wine is served along with food and snacks.
- Sandwich bar: An informal restaurant which mainly serves sandwiches, toasts, and drinks.
- Restaurant buffet: These are mainly organized breakfast, launch or dinner where guests serve themselves from various types of food displayed on tables.
- Pizzeria Bar: This is a type of Italian restaurant where you can eat mainly pizzas and calzones.
- Pop-up restaurant: This type are not always noticeable.
- If you don’t know you miss it. Operators prefer using historical places for it e.g. roofs of historic buildings, courtyards, private houses and unusual spaces.
- Trattoria: This is another informal type of restaurant, typically Italian. They don’t usually have a printed menus. They also serve house wine, and the service is casual.
- Self-service restaurant: Here customers serve themselves. This type is almost everywhere; they are in supermarkets, shopping centers, hotels, close to offices and schools, and so on.
- Snack bar: Here they sell majorly snacks with soft drinks.
- Café: Always a small restaurants that serves hot beverages such as coffee and tea and sometimes light meals such as sandwiches and cake.
- Food truck: A vehicle equipped restaurant. It prepares and sell food of any kind from ice-creams to hamburgers and pizzas.
- Steakhouse: This restaurant specialises in steaks and grilled meats.
As you can see, I have just listed out for you 14 modern city restaurant business ideas. You can make it strategic by combining more than one idea in one restaurant. In fact, why not model a novel type that suites your growing society from them. Just think.
2022 Modern City Restaurant Business Plan in Nigeria
Opening 2022 Modern City Restaurant Business Plan in Nigeria – The Need for A Restaurant Business Start-up.
To start with, what you just read through in the last paragraph is a list of restaurant business ideas from which I wish you can choose one or a combination of two or more types.. After making your choice, you have to decide to put in place a winning business plan to achieve your goal. The business plan may be to raise fund or to guide you in the management of the restaurant business. Whichever, you choose, a business plan is very necessary at this point in time.
The second thing you should be doing now is to register your business with the relevant authority. In Nigeria every business is registered with Corporate Affairs Commission (CAC) to give it legal status.
If you contact me , we will do this business plan for you – contact us. We are Restaurant business plan professionals! Our firm is made of professional accountants , economists, project management experts etc. who will give you the best business plan you desire.
Consequently, these are what we will do for your business start-up:
For you to start-up fine, we will do the following for you:
- An Investor/loan acceptable business plan
- Generate business ideas for you just as we have done in this post.
- Do business research for your – Product, services, and marketing
- Register your business with CAC Nigeria
- Give you business coaching for at least a year.
- Set-up your administrative system – hire and train staff for you.
- Set up your accounting system – whether manual or automated we will get you on better.
- Moderate and monitor your internal control system.
- Take care of your Tax matters – Auditing and publication of your financial statements and tax computation to obtain your tax clearance certificates.
2022 Modern City Restaurant Business Plan in Nigeria – How to start.
Executive Summary
This is the first item on every business plan. It gives the summary of all that the business plan contains. It will also highlight the purpose of the plan – as management tool or to look for investors. Other primary objectives of the business plan for Restaurant would also be highlighted. For instance, that the restaurant will provide quality meals at reasonable prices with good services, and that it’s expected to generate $20,000 or N2,000,000 ( two million Naira) weekly or monthly.
Your guiding principles – you could state what these are here just to show how you will treat and care for your customers. Show that you will show gratitude to their patronage.
Highlight also your “keys to Success”, like hiring good chef, preparing home-like food, variety of menu etc.
Do your best here to sell this business to investors or your managers here. Remember that that this is a Modern city – regular changing city – Restaurant Business Plan
Business Overview:
Here tell the readers the name of your business, its location, when it was incorporated, and other relevant information.
A section will be devoted to explaining your business mission. Expressions like “ our Mission is to provide a unique home-like relaxing dining experience”. You can tell us how you would want to achieve this, and so on.
SWOT Analysis:
This will show how frank you are with your investors. Therefore you must be frank enough to tell them about what constitute your strength in this business. A special chef, Variety of Menu, the business location, could all constitute your strength.
You have to be honest to tell them what your weaknesses are. No enough serving space, presence of say a garbage disposal unit near the restaurant that emits bad odour, could be the challenges you have to grapple with in this location.
Opportunities like the existence of industrial companies that employ all kinds of staff that patronises your restaurant. Possibilities of signing feeding contract with some of the workers/industrial union members in the industrial estates around the restaurant. The end of year or summer parties if contracted to you will be a boost to the business.
Remember also those things that threaten your existence and survival, and name them here. The challenges of a dynamic society with evidence of lawlessness attitudes from people now and then.
The purpose of enumerating all these is to help you know what challenges you have on hand. Remember that to maximise your strength is as much a challenge as remedying your weaknesses and combating your threats.
Management Team:
Give full details of your management team here. List them out with their profile and the roles assigned to them in this engagement. Mention peculiar attributes of each, e.g. special training, social competencies and personal skills.
Attach by every title the relevant required qualifications and working experiences.
The management structure you want to be in place can be listed like the following:
- Chief Executive Officer
- Purchasing Manager
- Waiters/ waitress
- Equipment operators
- Marketing Executive
- Customer Service Executive
- Accountants
- Security Guard
- Truck Driver
These can be shown with a designed organisational structure/chart.
2022 Modern City Restaurant Business Plan in Nigeria
Financial Forecasts:
Business Plan for a modern city restaurant like this should include purchases and sales forecast, cash flow forecast, a projected profit or loss account and balance sheet for at least three years. That is what the investors are watching. They are also going to be the driving force for the management staff. In fact, set them up as mile-stones.
In doing this please, ensure that the figures you input here are reasonable and realisable. You must avoid being over optimistic. If you can’t do this, please contact a consultant to do it for you at minimal cost
Product/Services:
This is where you will list out your various types of products/menu and services. Here too, you have to be very honest. State only what you can do. You can place the others on expansionary plans – say,” in the next two years we will include the following……”
Target Market:
Your target market is very important. Enumerate your target market and its segmentation here. The segmentation could follow the classes of products and could be those that address such customer class needs , like:
- Children
- The Youth
- Special occasion ceremonies – like couple engagement ceremonies.
- Corporate Specials
- Business People
- Family
- Sporting Personalities
- Students
- Entertainment groups
- Related Restaurant line of business
- And others
2022 Modern City Restaurant Business Plan in Nigeria – Marketing Strategy:
It’s turnover that grows the business. By a model of aggressive marketing strategies you will be able to win a good turnover that will drive the business and help you achieve your business goal.
Therefore, every aspect of strategic marketing must be highlighted here. The market segmentation – geographically, demographically, physical or online. Consumer classes associated enlightenment or promotional models for children, youth, elderly, the high net-worth individuals, government, organisation etc. will all be highlighted here.
Conclusions and Recommendation:
Having gone through all aspect of this business plan, it’s time to make conclusions. Will the turnover, gross margin, capital expenses etc generated carry on this business. If you think they will, say so here. If otherwise say so too.
It’s time to approve, redesign or reject/abandon the business/project. That is what your recommendation will look like here.
For Further Information:
Instead of abandoning this project, why not contact us today to plan for the turn around. You may have over flogged certain project variables that led to its failure. Working on these variables will do the magic for you.
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Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.
