Better Business: How to Write a Business Plan

As part of our Better Business Series, we are providing materials and tools, including videos and infographics, to help chefs work towards a more secure and healthier future in the industry. This episode focuses on the essential tips and steps budding restaurateurs or chefs need to create an effective business plan.

In the following video, author, consultant and professor Vaughn Tan shares his clear, concise and easy-to-follow advice for prospective restaurant owners, to create and tweak their business plans until they find a proposal that works and is profitable, whilst allowing them to do what they love. 

How to create a robust restaurant business plan?

In an industry in which 50 percent of new restaurants fold within four years, a robust and flexible business plan can help avoid disaster, and instead ensure your restaurant enjoys a long and successful future.  

From outlining what a business plan really is, to why it's important, and why you should make one, Tan takes the stress out of creating a business plan by breaking it down into three simple steps: describe, define and reflect.

It's so straightforward that'll want you to get started today. Have a listen to Tan's tips below:

There's also a useful download below, which will allow you to write and develop a robust business plan that will work for your business.

Discover the rest of our series full of useful and doable industry advice and tips for budding restaurant owners and chefs, from how to secure investing to open a restaurant, to how to prevent burnout.