If you are an investor or a budding entrepreneur planning to start your own business, you should highly consider establishing your own restaurant business. Starting your own restaurant can be quite tricky, but as long you do extensive research and come up with the right analysis, your restaurant will definitely be profitable.
A marketing plan is one of the first things you should formulate when you plan to start your own restaurant. Here are restaurant marketing plan examples (in PDF format) you should use as reference when you will be making your own restaurant marketing plan.
Here are some important tips to remember when creating your own restaurant marketing plan:
Every marketing plan should always begin with a vision and mission. A vision statement outlines what you want to achieve long-term for your company while the mission statement focuses on how you want to achieve your vision. The vision basically projects the future while the mission zeroes in on the present.
There are numerous vision and mission statements you can formulate for your restaurant marketing plan. Just make sure they are achievable and attainable. Vision statements cannot be easily changed as they are the long-term goal of the company. A single vision statement is applicable to around 50 or more years and can only be changed once the vision has already been achieved by the company.
The mission statement meanwhile focuses on how the vision will be achieved and lists down specific details how the company will be able to achieve its vision through the mission statement.
Creating a vision and mission statement is not complicated. Both of these general statements should be short, concise, and attainable. Mission statements tend to be longer than their counterparts since they detail how the vision will be achieved. They are also written in an outline or list form.
These days, digital marketing has become a necessity for corporations and sole-proprietorships. Traditional marketing methods are still being used by companies though, but they incorporate it together with other digital marketing methods. Among the more popular digital marketing methods include websites, social media, and ad placements.
Digital marketing is a product of technology and technology will continue to improve in the next few years, with digital marketing going hand in hand with technological advancements.
Every business organization has a website. Even nonprofit organizations that don’t sell a single product update their websites regularly. Websites these days are highly customizable and content can easily removed and edited.
Websites have also become one-stop shops for corporations, especially those that sell a number of products and services. They don’t only list down their products together with the corresponding prices and other product details, but other company information such as product and company announcements, organizational structure, and other non-disclosure agreements.
Social media. The phrase is anonymous with Facebook, Instagram, Snapchat, Viber, and so much more. Social media is just around as it is not a new technology nor a new invention, but business entities take for granted its massive importance and contribution to the ever-changing business world.
The great thing about social media is that most social media platforms are free and you won’t have to spend a single penny to use the premium functions of these platforms. Take for example the world’s number one photography app Instagram. You can easily add and edit photos, and all the filters you can use are available for free. You may also see define marketing plan and its purpose.
Compared to other apps where you need to purchase additional functionality within the app (in-app purchase), social media uses no such thing, which maximizes the marketing potential of business organizations.
Ad placements have also become an opportunity for businesses to earn as well as increase their visibility in the market. When you advertise your business in another website through ads placement, both and you the website where you placed your ad will earn as long as the ads are clicked by users. The same goes for companies posting ads in your website. You may also see marketing strategy plan examples.
More and more companies are inserting ads in their website, as it provides an additional source of income as well as increased advertising opportunities.
Another tip in creating a marketing plan is to list down all your products in the said plan. This helps you identify as well as analyze the strengths and weaknesses of each product. If you have not created a final list of items you want to sell to your customers, you should begin by listing them all in the simple marketing plan.
The marketing plan does not only involve marketing analysis but also a catalog of your entire products or services. But there is an exception to this rule, especially if you are selling hundreds of different type of products. Instead of incorporating detailed information of each product, you just have to name each and group them according to different functions (color, size, shape, etc.). This ensures that the item list does not take up too much space in your marketing plan.
A marketing plan is not only a list of products but an analysis of the marketing methods and strategies you are going to use. For your restaurant marketing plan, it is important to use strategic planning as this will help you in your analysis.
Among the strategic planning methods you can use include SWOT analysis, PESTLE analysis, Porter’s five forces, balanced scorecard, and growth-share matrix. SWOT and PESTLE analysis are the more common strategic planning methods as they both analyze the internal and external environment, although PESTLE analysis only focuses on the external analysis.
Porter’s five forces also focus on the external environment, but zero in on a business organization’s competitors. The five forces are threat of new entrants, threat of substitutes, bargaining power of customers, bargaining power of suppliers, and industry rivalry.
Growth-share matrix meanwhile utilize brand marketing, product management, strategic management, and portfolio analysis to analyze their business units (product lines). Balanced scorecard meanwhile is a tool used by managers to keep track of activities executed by their employees and staff. You may also see how to write a marketing plan for a business.
There are numerous other strategic planning methods you can use, but the ones listed above should be implemented in your restaurant marketing plan.
Creating a sample restaurant marketing plan requires extensive research. It’s just not about creating an outline but a detailed research on the marketing activities of your business. You are investing large amounts of money for your restaurant, so creating a marketing plan is one step in making sure you will be profitable once you commence operations. You may also check out event marketing plan examples.
You can use different data instruments for your marketing plan, both you can just limit to using survey questionnaires and conducting job interviews as these two instruments will already help you obtain important customer information. There is no need to conduct surveys in another research, as you can incorporate them in the marketing plan.
Here is a sample outline of an Italian restaurant marketing plan. Take note that this is only an outline of a marketing plan for a restaurant mostly serving Italian dishes, not the actual marketing plan. You can also implement the examples we provided in PDF format for your own marketing plan. You may also see digital marketing plan examples.
Robert de Niro Italian Restaurant Marketing Plan
Menu: fresh Italian food
The restaurant will be serving fresh Italian food every day. Among the dishes that will be served include Italian favorites: Margherita, Pizza Bianca, Cheese Pizza, Lasagna, Spaghetti Bolognese, Pesto Linguine, Carbonara, Spaghetti alla Gricia, Arancini, Osso buco alla Millanese, Prosciutto, Ribollita, Saltimbocca, Gelato, Torrone, and Tiramisu. More dishes will be added as the restaurant will gain popularity with its target market.
Physical advertising and promotion: posters and tarpaulins
The restaurant will be utilizing the printing and posting of high-quality posters and tarpaulins. The posters will be placed on public areas, mostly universities, malls, and public parks. The tarpaulins meanwhile will be posted outside the restaurant premises. There will be issues with posting tarpaulins in public areas as their dimensions are too large and will take up too much space. You may also like email marketing plan examples.
Online advertising and promotion: website and social media
The restaurant will be focusing more on its online presence as it is more cost-efficient and effective. The restaurant will be creating and maintaining a website where a list of all the dishes (as well as their corresponding prices) will be posted.
Restaurants news, announcements, and ratings/reviews will also be posted in the website. A Facebook page as well as an Instagram page will also be created and will both act as an extension to the restaurant’s website. The Facebook page will also act as a customer service page where customers and other clients can contact the restaurant for food/price information and investment opportunities. You may also see work plan examples.
Strategic planning methods: SWOT analysis and Porter’s five forces
The restaurant will be using SWOT analysis and Porter’s five forces in its strategic planning. SWOT analysis will help the restaurant’s internal and external environment while Porter’s five forces will analyze the restaurant’s competitors. The internal environment includes the restaurant’s dishes, organizational structure, policies, and employees while the external environment includes the restaurant’s competitors, suppliers, distributors, and labor laws affecting the restaurants operations.
Data instrument: survey questionnaire
Prior to operations, the restaurant will be conducting a survey on a number of potential customers to identify their preferences (type of food, restaurant aesthetics and design, and service design). The potential customers are all included in the restaurant’s target market segment: families. The data obtained from the respondents will be used to create better analysis in the marketing plan. You may also like risk plan examples.
Starting your own restaurant requires huge capital and long hours of research. You just don’t start your own restaurant even if you have enough funds. A marketing plan is one you should formulate before you start buying ingredients for your dishes.