Restaurant Launch: Planning, Budgeting & Analysis from Udemy

Defying the Odds: Succeed in the Restaurant Business

Statistically, a sobering 90% of restaurants fail within their first year. This course is meticulously designed to ensure you are positioned firmly within the successful 10%. With over 25 years of extensive experience ranging from entry-level positions to owning renowned restaurant brands in two countries, I bring a wealth of practical insights and real-world expertise.

Understanding the intricacies of the restaurant industry is key. Many new entrants, often inexperienced and enchanted by the romantic notion of owning a charming restaurant, quickly find themselves overwhelmed. They picture a straightforward operation centered on cooking and serving, yet fail to grasp the complexity behind the scenes—from managing supply chains to navigating customer relations. The consequences of such oversight can be devastating, leading to significant financial losses, broken relationships, and severe stress.

This course cuts through the fluff and focuses on what truly matters. It is designed for those who are ready to take action, providing straightforward, easy-to-understand instructions along with practical tools. You will receive a suite of resources including operational templates, strategies for team management, and techniques for effectively raising investment.

More than just a series of factual lessons, this course is a comprehensive guide that covers everything from the foundational aspects of setting up your restaurant to advanced strategies for sustainability and growth. You will learn how to critically assess your local market, understand your competition, and position your establishment for great success.

The curriculum starts with the absolute essentials—steps you need to take before committing funds to branding or design (which can be very expensive). You'll explore how to craft a unique dining experience that resonates with your target audience, manage your finances to maximize profitability, and develop marketing strategies that make a real impact in the industry.

By enrolling in this course, you're not just learning how to open a restaurant; you're learning how to build a thriving business that can withstand the tests of time and competition. Take your first step toward becoming a successful restaurateur. Equip yourself with the knowledge and tools necessary to navigate the complexities of the restaurant industry confidently.

Join the elite 10% who not only survive but thrive. Your journey to a successful restaurant starts here. With dedication, clear guidance, and your commitment to applying these lessons, your dream of restaurant ownership is within reach. Let’s embark on this journey together and set your restaurant up for lasting success.

What's inside

Learning objectives

7 year forecast
Opex: operational expenditure
Capex: capital expenditure
Payroll
Daily revenue drivers
Property cost

Total project cost analysys
Food and beverage cost
Competitor analysis
Planning the opening using the provided planner
Write a comprehensive feasibility study

7 year forecast
Opex: operational expenditure
Capex: capital expenditure
Payroll
Daily revenue drivers
Property cost
Total project cost analysys
Food and beverage cost
Competitor analysis
Planning the opening using the provided planner
Write a comprehensive feasibility study

Syllabus

Introduction

Write a Comprehensive Feasibility Study for your Restaurant

Watch the video, then download the feasibility study template and adapt it to your restaurant/cafe. Don't rush this please, take your time, watch your spelling and write as many details as possible to make it accurate. This can then be saved as a PDF and sent to investors along your budget.

Watch the video, then download the budgeting template and adapt it to your restaurant/cafe. Don't rush this please, take your time, watch your spelling and write as many details as possible to make it accurate. This can then be saved as a PDF and sent to investors along your budget.

Watch the video, then download the Critical Path template and adapt the dates to your schedule and calendar. Don't rush this please, take your time, watch your spelling and write as many details as possible to make it accurate. Share it with your team and assign them responsibilities.

Watch the video, then download the Competitor Analysis Template and fill it out with your competitor's info. Don't rush in choosing just anyone to be on your list, take your time, make sure you select the competitors that are close to what you do

Traffic lights

Read about what's good

what should give you pause

and possible dealbreakers

Provides templates for feasibility studies, budgeting, and competitor analysis, which are essential for securing funding and making informed decisions

Covers operational expenditure (OPEX) and capital expenditure (CAPEX), which are key components of financial planning for a restaurant launch

Includes a 7-year forecast, which is a long-term planning tool that can help with strategic decision-making and attracting investors

Requires learners to adapt templates to their specific restaurant/cafe, which may require a time investment and attention to detail

Focuses on practical tools and strategies, which may not be suitable for learners seeking a theoretical understanding of restaurant management

Emphasizes the importance of avoiding common pitfalls, which is crucial for increasing the chances of success in a high-failure industry

Reviews summary

Restaurant launch: planning, budgeting & analysis

According to students, this course provides a highly practical and comprehensive guide specifically tailored for launching a restaurant. Learners particularly praise the inclusion of valuable templates, such as those for budgeting, feasibility studies, and critical path planning, finding them immediately applicable. The strong focus on financial analysis and the instructor's ability to explain complex business concepts in simple, actionable steps are highlighted as major strengths, especially for those new to the industry. While it offers a solid foundation, some reviewers note that parts of the content might feel basic if you have prior business experience, and suggest certain areas could benefit from updates to reflect current industry trends. Overall, it's considered an essential resource for navigating the complexities of starting a restaurant.

Instructor shares valuable experience

"The instructor clearly knows his stuff and shares practical insights."

"Benefited greatly from the instructor's extensive experience."

"Brings a wealth of practical insights and real-world expertise."

Ideal starting point for new owners

"As an aspiring restaurateur with zero business experience, this course was a lifeline."

"Explained complex topics simply and provided actionable steps."

"Provides a solid foundation covering all essential aspects."

Excellent guidance on budgeting

"This course demystifies the scary parts of restaurant finance with clear guidance."

"The budgeting and forecasting modules were the most helpful part for me."

"Helped me understand the financial projections needed to talk to investors."

Provides essential tools for planning

"The provided templates were incredibly useful, especially the budgeting and critical path planners."

"Found the feasibility study template invaluable for structuring my initial thoughts."

"Practical tools and strategies are provided, I can immediately apply this to my business."

Some topics feel basic for experienced

"Some sections felt a little basic if you already have some business background."

"I was hoping for more depth on specific marketing strategies or staffing."

"Decent course, but some info felt slightly dated."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Restaurant Launch: Planning, Budgeting & Analysis with these activities:

Review Basic Accounting Principles

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Reinforce your understanding of fundamental accounting concepts to better grasp budgeting and financial forecasting in the restaurant industry.

Browse courses on Cost Accounting

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Review key accounting terms and definitions.
Practice basic journal entries and financial statement preparation.
Complete practice problems related to cost analysis and budgeting.

Read 'Restaurant Startup: A Practical Guide' by Rick Smilow

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Gain a practical understanding of the restaurant startup process from an experienced industry professional.

View Culinary Careers: How to Get Your Dream Job in... on Amazon

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Read the book and highlight key takeaways.
Compare Smilow's advice with the course materials.
Identify areas where you need further research or assistance.

Read 'Setting the Table' by Danny Meyer

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Gain insights into restaurant management and customer service from a renowned restaurateur.

View Customer Relations Series of Bestselling 2... on Amazon

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Read the book and take notes on key concepts.
Reflect on how Meyer's principles can be applied to your restaurant concept.
Discuss the book's ideas with other aspiring restaurateurs.

Four other activities

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Show all seven activities

Develop a Preliminary Restaurant Business Plan

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Apply the course concepts by creating a basic business plan, including concept, target market, and initial financial projections.

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Define your restaurant concept and target audience.
Conduct market research to assess demand and competition.
Develop preliminary menu and pricing strategies.
Create initial financial projections, including startup costs and revenue forecasts.

Design a Sample Restaurant Menu

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Practice menu engineering principles by designing a sample menu that considers food costs, pricing, and customer preferences.

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Research current menu trends and pricing strategies.
Select dishes that align with your restaurant concept.
Calculate food costs and determine appropriate pricing.
Design the menu layout and write compelling descriptions.

Practice Financial Ratio Analysis

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Sharpen your financial analysis skills by calculating and interpreting key financial ratios relevant to restaurant performance.

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Gather financial statements from sample restaurants.
Calculate key ratios such as profit margin, inventory turnover, and debt-to-equity.
Interpret the ratios and identify areas for improvement.

Attend a Local Restaurant Industry Event

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Connect with other restaurant owners, chefs, and suppliers to learn from their experiences and build your network.

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Research local restaurant industry events.
Prepare a brief introduction about yourself and your restaurant concept.
Attend the event and network with attendees.
Follow up with contacts after the event.

Career center

Learners who complete Restaurant Launch: Planning, Budgeting & Analysis will develop knowledge and skills that may be useful to these careers:

Restaurant Owner

The ultimate goal for many: becoming a Restaurant Owner. This course is designed to give prospective owners the best possible chance to succeed in an industry with a high failure rate. The curriculum, from initial feasibility studies to budgeting and forecasting, lays a strong groundwork for building a sustainable restaurant business. By providing operational templates and strategies for team management, the course supports all essential functions that a Restaurant Owner is responsible for. It helps one to develop the financial acumen and strategic insight necessary to turn the dream of restaurant ownership into a reality.

See salaries and explore the career path for Restaurant Owner

Restaurant Manager

A Restaurant Manager ensures smooth daily operations, from staff management to customer satisfaction. This course directly aligns with the role, offering insights into budgeting, forecasting, and financial planning, all crucial for effective restaurant management. The lessons on operational expenditure, capital expenditure, and payroll prepare one to handle the financial aspects of running a successful restaurant. Furthermore, the course's emphasis on competitor analysis and market assessment helps a Restaurant Manager to make informed decisions and maintain a competitive edge.

See salaries and explore the career path for Restaurant Manager

Financial Analyst

A Financial Analyst evaluates the financial performance of a restaurant and provides insights to improve profitability. This course directly aligns with the role, providing a solid foundation in financial forecasting, budgeting, and cost analysis. The focus on operational expenditure, capital expenditure, and food and beverage costs equips the Financial Analyst with the knowledge to assess financial health and identify areas for improvement. The skills gained could lead to informed decisions about investments, pricing strategies, and cost control measures.

See salaries and explore the career path for Financial Analyst

Food and Beverage Director

A Food and Beverage Director oversees all aspects of food and beverage service within a restaurant or hospitality establishment. This course plays a pivotal role in equipping aspiring directors with the necessary tools for success, including a deep understanding of food and beverage costs. The director role especially benefits from the course's comprehensive feasibility study guide, enabling them to critically assess market viability and potential profitability. This training helps one to develop strategies that enhance customer experience and drive revenue growth as a Food and Beverage Director.

See salaries and explore the career path for Food and Beverage Director

Operations Manager

An Operations Manager is responsible for overseeing the day-to-day functions of a restaurant, ensuring efficiency and quality. The course's detailed coverage of operational templates, team management, and financial planning aligns perfectly with managing restaurant operations. The emphasis on critical path analysis, from property search to launch night, helps the Operations Manager with the skills needed to streamline processes and optimize resource allocation. This training may lead to improved performance and customer satisfaction.

See salaries and explore the career path for Operations Manager

Restaurant Consultant

Restaurant Consultants advise restaurant owners on improving operations, enhancing profitability, and achieving sustainable growth. The skills taught in this course help equip consultants with the knowledge to guide clients through the complexities of the restaurant industry. The focus on financial forecasting, budgeting, and market analysis allows a Restaurant Consultant to provide data-driven recommendations that can transform struggling businesses into thriving enterprises. The course's comprehensive approach to restaurant management also ensures they can provide holistic solutions tailored to each client's unique needs.

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Project Manager

A Project Manager in the restaurant industry oversees the launch of new restaurants or major renovations. This course provides core skills in project planning, budgeting, and timeline management, all crucial for managing restaurant projects effectively. The provided planner and budgeting templates enables the Project Manager to organize tasks, allocate resources, and track progress with precision. The course's emphasis on feasibility studies also ensures that projects start with a clear understanding of the market and potential challenges.

See salaries and explore the career path for Project Manager

Business Development Manager

A Business Development Manager focuses on identifying opportunities for growth and expanding a restaurant's market presence. This course provides invaluable skills in market analysis and strategic planning, both essential for success in this role. The course's lessons on competitor analysis and crafting a unique dining experience provides a Business Development Manager with insights to drive innovation and attract new customers. The knowledge gained may allow the development of effective marketing strategies and the ability to position the restaurant for sustained growth.

See salaries and explore the career path for Business Development Manager

Marketing Manager

A Marketing Manager develops and implements strategies to promote a restaurant and attract customers. This course may provide insights into crafting a unique dining experience and understanding the competition. By understanding the foundational aspects of setting up a restaurant, a Marketing Manager can tailor marketing messages to resonate with the target audience. It helps one to develop effective campaigns that drive customer engagement, build brand awareness, and increase revenue.

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Supply Chain Manager

A Supply Chain Manager oversees the flow of goods from suppliers to the restaurant, ensuring timely delivery and cost-effectiveness. The course helps in understanding the financial aspects of restaurant operations, including food and beverage costs and inventory management. The curriculum provides a framework for optimizing the supply chain, reducing waste, and improving efficiency. This may help the Supply Chain Manager to negotiate better deals with suppliers and ensure the availability of high-quality ingredients while minimizing costs.

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Real Estate Analyst

A Real Estate Analyst identifies and evaluates potential locations for new restaurants. This course's emphasis on market assessment and competitor analysis provides a strong foundation for making informed real estate decisions. It helps one to gain a better understanding of the local market dynamics, customer demographics, and competitive landscape, all crucial for selecting the right location. The feasibility study guide helps the Real Estate Analyst to assess the viability of potential sites and project future revenue.

See salaries and explore the career path for Real Estate Analyst

Human Resources Manager

A Human Resources Manager is responsible for recruiting, training, and managing restaurant staff. The course provides insights into team management and operational efficiency, helping in creating a positive work environment and improving employee retention. It helps one to understand the financial aspects of payroll and labor costs, enabling effective workforce planning and cost control. The skills gained could contribute to building a motivated and skilled team that enhances customer service and drives business success.

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Chef

A Chef leads the kitchen staff and is responsible for creating menus and preparing food, but this course may broaden a chef's perspective beyond the culinary arts. While the technical cooking skills aren't directly covered, the curriculum focuses on the financial and strategic aspects of running a restaurant. This may help a Chef to contribute to menu planning with a better understanding of food costs and profitability. Acquiring a well-rounded understanding of restaurant operations could help a Chef to advance to management positions.

See salaries and explore the career path for Chef

Customer Service Manager

A Customer Service Manager is dedicated to ensuring customer satisfaction and resolving complaints in a restaurant setting. While this course focuses primarily on the financial and operational aspects of restaurants, the emphasis on crafting a unique dining experience and understanding the target audience may help in tailoring customer service strategies. The skills can improve customer loyalty and enhance the restaurant's reputation. Overall, it may help the Customer Service Manager to create a welcoming and positive atmosphere that encourages repeat business.

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Bar Manager

A Bar Manager oversees the operations of the bar area in a restaurant, including inventory, staffing, and customer service. This course may provide relevant insights into managing beverage costs and optimizing bar operations. The lessons can help in making informed decisions about pricing, promotions, and inventory control. Also, help with feasibility studies and competitive analysis. This training helps one to create a profitable and efficient bar service that enhances the overall dining experience.

See salaries and explore the career path for Bar Manager

Reading list

We've selected two books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Restaurant Launch: Planning, Budgeting & Analysis.

Customer Relations Series of Bestselling 2 Books...

Save

Provides invaluable insights into the hospitality aspect of running a successful restaurant. Danny Meyer shares his philosophy of 'Enlightened Hospitality,' which emphasizes prioritizing employees, guests, community, and suppliers. Reading this book will help you understand the importance of creating a positive work environment and delivering exceptional customer service. It offers a broader perspective on restaurant management beyond just the financial aspects covered in the course.

Customer Relations Series of Bestselling 2 Books...

Hardcover

$$$

Culinary Careers

Save

Offers a comprehensive overview of the restaurant startup process, covering everything from concept development to opening day. It provides practical advice and real-world examples to help you avoid common pitfalls. This book is particularly useful for understanding the operational aspects of running a restaurant and complements the financial planning focus of the course. It serves as a valuable reference tool throughout the entire startup process.

Culinary Careers: How to Get Your Dream Job in Food...

Paperback

Culinary Careers: How to Get Your Dream Job in Food...

Kindle Edition

Restaurant Launch

Planning, Budgeting & Analysis

What's inside

Learning objectives

Syllabus

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Reviews summary

Restaurant launch: planning, budgeting & analysis

Activities

Career center

Reading list

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