Fast Food Restaurant Business Plan

Executive Summary

Etimate Restaurant is a top-notch restaurant based in Lagos that provides delicious and well-prepared food to Lagosian. The company provides great service, great managers, consistent delivering, amazing food and atmosphere for  their numerous customers to feel at home. 

Restaurant business is no doubt a lucrative business in Nigeria because it is an all season business. Everyone needs to eat at least once in a day while others eat 3 times in a day or more for every 24 hours. Nigeria being a country with a high population and large middle-class earners contribute to the potential success of starting and running a restaurant business. 

Food is one of the basic needs of Man in his environment. No man can survive without food over a long period of time. Good food provides us with nutritional values which help to build our body system, fight against diseases.  Although the  concept  of  fast  food  retailing,  also  known  as  quick  service  restaurants  evolved  in  Nigeria about  35 years ago by UAC, from the coffee shops of its Kingsway  Departmental Stores, which later transformed into Kingsway Rendezvous, the organized fast food industry is fast emerging in the country. The industrial landscape has witnessed the influx of unprecedented numbers of fast food operators since the opening of the first fast food outlet in Nigeria, at Yaba, in 1986 by Mr. Biggs, a subsidiary of UAC Nigeria Plc. At present, there are over 150 brand names in the country.    Also,  the  Southwestern  Nigeria  alone  now  boasts  about  500  outlets,  of  different  sizes,  which could  be  classified  as  standardized  eateries,  established  by corporate  individuals  and  organizations  (Fakokunde,  2011).  All  these  and  other  developments, according  toThe  Punch of  Thursday,  12  November,  2009 revealed  that  one  line  of business  that  keeps  going  and  remains  sustainable  amidst  the  current  global  economic  meltdown  is  the restaurant  business.  In today’s highly competitive environment, it is becoming increasingly difficult to differentiate one fast food outlet from another. 

The Etimate Restaurant will be a moderately priced 50 seat restaurant offering family style food and service. We provide varieties of food  both local dishes and continental dishes which includes Fried Rice, Jollof rice, Pounded yam ,Amala, Fufu, Wheat, Eba, Vegetable soup, Egusi soup ,Afan soup, Ewedu soup, Ogbono, soup, Roasted Chicken, Assorted meat, fish, Snacks, Salads , Wine and Drinks are all on the menu. We will offer specialty selections including lighter options and smaller portions for a children’s menu. Etimate Restaurant will provide a combination of excellent food at value pricing, with fun packaging and atmosphere.  

Etimate Restaurant is the answer to an increasing demand for snack-type fast food, local and international dishes to be consumed.  The decoration will feature wood accented chairs with blue and white checked tablecloths. Dinner style will provide a combination of excellent food at value pricing, with fun packaging and atmosphere. The location of the restaurant will be strategically located at Ikeja, Lagos.  The area has a high population who are majorly interested in the delivery of our service .Many companies are located in Ikeja and there a fewer number of restaurants to satisfy their needs. 

Table of Content

1.0 Executive Summary

1.1 Business Objectives

1.2 Guiding Principles 

1.3 Our Services

1.4 Keys to Success

2.0 Company Description

2.1 Company Ownership

2.2 Location and Facilities

2.3 The Start up Summary

3.0 Services

3.1 Pricing and Productivity

3.2 Competitive Comparison

4.0 Marketing Analysis Summary

4.1 Market Segmentation

4.2 Competition and Buying Patterns

4.3 Industrial Analysis 

4.4 SWOT Analysis

4.4.1 Strengths

4.4.2 Weaknesses

4.4.3 Opportunities

4.4.4 Threats

4.5 Challenges Facing Restaurant Business

5.0 Strategy and Implementation Summary

5.1 Competitive Advantage 

5.2 Sales Strategy

5.3 Sales Forecast

6.0 Management Summary

6.1 Management Team

6.2 Personnel Plan 

7.0 Financial Plan

7.1 Break even Analysis

Chart: Break even Analysis

7.2 Projected Profit and Loss

Projected Cash flow Statement Year Two

Projected Cash flow Statement Year Three

7.4 Projected Balance Sheet

Frequently Asked Questions about Restaurant/Fast Food Business

How to Start a Successful Fast Food Business?

To build a successful fast food business you have to start with building a solid business plan. You can download this Fast Food Restaurant Business Plan to get you started. You should choose a good location for your fast food business. Plan your financial commitment and secure funding. Check for any licenses and permits you may need and acquire them. Buy necessary equipment. Setup the location. Hire staff. Plan your menu. These are some of the things you need to do to start your successful restaurant/fast food business.

How Much Will It Cost to Start a Fast Food Restaurant Business?

The costs of starting a fast food business will depend on your location, the scope of the intended business and the intended sophistication level. A Fast food restaurant can be capital intensive depending on these factors. In Nigeria, depending on your location you will need millions or tens of millions of Naira to open a fast food restaurant business.

Are There Profits in Fast Food Business?

Yes, while fast food business may require significant capital it can also be profitable. Though the profit margins may not be as high as in some other industries, a fast food business can reach as high as 20% profit margin on high turnover.