Restaurant Concept Development Consulting
A Well-Thought Out Concept Development Can Turn Your Restaurant Dreams Into A Reality
Creating a restaurant concept development is exciting and challenging, allowing you to explore new ideas before spending your resources. At DMD Restaurant Consultants, we’ll consider your budget and restaurant concept to make logical decisions. During this preparation stage of creating your business plan, you’ll spend time thinking about the niche your restaurant will fill, the cuisine of competitors, the number of restaurants in the area, and so much more!
Phases Of A Restaurant Concept Development
No matter how much you believe in your restaurant idea, you want to determine beforehand how much it will cost to develop your concept and how it will perform once it’s open. You want to create a profit model, business plan, and concept book during this process.
Phase 1: Profit Model
Without a doubt, you need to determine how much your restaurant will cost, what market it’ll be in, how it’ll make money, and how much it will make. Without a profit model, you won’t be able to find investors or lenders who will want to partner with you. During this process, it’s essential to work with professionals who understand the restaurant business because you need your profit model to consist of accurate financial projections, which is hard to do if you’ve never done it before.
Phase 2: Business Plan
Once you’ve finalized your profit model, the next phase of creating a restaurant concept development consists of writing about the details of your business. Your business plan should include specifics such as concept brand narratives, market research, competitive analysis, a sample menu, and business operation plans. Your business plan will be read by potential investors, stakeholders, banks, and prospective managers trying to form a better picture of your business ideas.
Phase 3: Concept Book
Finally, you want to create a concept book to show potential investors that you’re serious about your business. We’ll help you make a concept book that brings your ideas to life and includes all critical information in an easy-to-read format. One of the biggest perks of a concept book is that it gives you the opportunity to present financial information in a graphic format, which is much easier for people to understand than just having all of your information written out.
Develop A Unique Restaurant Concept With DMD Restaurant Consultants
Whether you want to open a fine dining restaurant or a fast-casual restaurant, developing a restaurant concept is critical in creating your ideal restaurant. As restaurant consultants who have helped individuals all over the country finalize their restaurant concepts, we have the resources and experience needed to help you create a vision that will help you secure financing. If you’re interested in learning more about how we can help you succeed, please schedule a free consultation.