Each year the NRA publishes, among other things, its annual "Restaurant Industry Forecast" which provides a glimpse of the industry through anticipated sales, customer spending habits, dining traits and operational and industry workforce trends. However, organizations such as the NRA and restaurant-based publications provide more relevant information about our particular industry.
Given the projected growth of the restaurant industry, this aspect of your plan paints an optimistic future of your chances for success in a very competitive business.
You should disclose if there are to be any management agreements in place between the company and owners, hired employees, or third parties.
Include a copy of the management agreement, if available, either here or in the Appendices section of the plan.
However, passion must be balanced with reality when it comes to creating a sound business plan.
In-depth market research is needed to substantiate that conceptual assumptions are in line with market conditions.
You might choose to insert actual résumés in this section or list them in the Appendices section of the business plan.
Though not mandatory, these may be used to lay out the expectations of the manager, the incentive plans, if any, and a termination strategy.
The change has been gradual, reflecting the ongoing evolution of the industry.
In the United States, the National Restaurant Association (NRA), has been the premier source for identifying changing trends in consumer habits. Bureau of the Census, the Department of Labor, and The Library of Congress are also good sources when analyzing population growth, ethnicity mix, labor and economic conditions.