How to start your restaurant in 8 weeks | Vincent Vermeulen | Skillshare

How to start your restaurant in 8 weeks

Vincent Vermeulen, The art of Hospitality

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24 Lessons (1h 59m)
    • 1. Welcome to the course

      4:47
    • 2. Setting SMART goals

      3:33
    • 3. Why start a restaurant?

      3:48
    • 4. The mindset of a restaurant owner

      9:27
    • 5. Your concept

      6:28
    • 6. 9

      3:23
    • 7. The right location

      9:42
    • 8. Why you need a business plan

      7:46
    • 9. How to write the business plan

      2:00
    • 10. Executive summary

      6:37
    • 11. Company description

      8:01
    • 12. The management team

      2:25
    • 13. 6 steps to self confidence 1 4

      6:18
    • 14. Step 5 the art of conversation

      13:32
    • 15. Wardrobe

      5:47
    • 16. Day to day operations

      2:12
    • 17. Funding, what do we need

      2:23
    • 18. Funding, growth & exit

      1:29
    • 19. The financial plan

      2:32
    • 20. Business plan overview

      2:11
    • 21. The 8 main reasons of failure

      3:17
    • 22. Licenses and permits

      3:30
    • 23. 3 week checklist

      3:52
    • 24. The launch of the restaurant

      3:53

About This Class

Have you always dreamed of starting your own restaurant but find it daunting to get started? Then this course is for you!!

  • Explained in clear steps:
  1. Planning
  2. Funding
  3. Building
  4. Preparation
  5. Opening your dream restaurant
  • Complete the course at your own pace and apply what you have learned while running your restaurant.

This course is taught by Vincent Vermeulen, a 4th generation hospitality expert who was born in a restaurant and has hospitality in his DNA. He's the founder of the School for Butlers and Hospitality and will get you in this detailed course from dream to opening...

Transcripts

1. Welcome to the course: congratulations. You have taken the next step to opening your very own restaurants. You will learn all about the restaurant business and apply it straight away. Whether you are new to this business to this industry, already have a bit of knowledge on the topic. This course will help you to use these techniques to your advantage in opening, organizing and running your business. Next to that, you will get unique advice that will pay back this investment in the training many times over. On top of that, we give a 30 day money back guarantee. If you're not completely satisfied with the training in this video, I just want to thank you for enrolling in the course and explain quickly how the course is structures. I want to give you some examples as well on how this training has helped other people in their lives opening their restaurants. This course is based on years of real life experience, teaching and applying the techniques presented in this curriculum. I hope this course will also help you so build a business that can stand the test of time and become profitable in no time. I will not bore you with my personal life. But I can tell you I am the founder off the school for bottles and hospitality here in Belgium. I grew up in a restaurant, actually, the one off my parents on AM the four generation hospitality professional in my family. If you're really interested in my life story, you can hear all about it at the end off this section and discover how our trainings changed the lives off people we trained so far, discourse is structured in the way you would start out. If you don't have any knowledge about opening a restaurant first, we're going to talk about the skills you will need to operate a great restaurant. And we will also talk about the basis off doing business. The i d concept the business plan. You will learn more about goal setting, and we're also work on you, the captain off the ship, the leader off the pack. Your actions will determine how successful you will be. Therefore, we will tell you everything about building self confidence and how that will help you in running your business better towards your guests. I will even talk to you a bit about etiquette on how that will change not only you, but also your business and your team. You will be surprised. Next we're going to launch into making an eight week plan to opening your business. For example, what do you look for when you are looking for a good location? The right location to open your restaurant? How many plates and glasses do you need to order? And how do you get the best deals with certain suppliers when you have to buy everything at the start off your venture, then I'm going to show you how to get together, the best team, how to hire and how to motivate them. After that, we will dive into the actual day to day operation off the business. How to evaluate that business and keep improving until you are the best. This training is full of fun examples and thinks you can immediately apply. At the end of this course, you will be first of all, be able to have a full overview off your restaurants. You will be opening that restaurant in no time. You will also improve your own efforts as a restaurant owner through a little knowledge on etiquette and self confidence. Number three. You will also know how to impress your guests and the once and be with that one step ahead off the competitors, and you will have the right documents included in discourse to guide you every single day to achieve your goals and transform your life. We will start off right away in the next video with a step by step instruction to set your goals and the final outcome off this course, which is making you a top notch restaurant. 2. Setting SMART goals: if I tell you that I have bought a wooden construction with peril, pieces were in between. There is a cloth of different colors to guarantee a maximum of enjoyment during high temperatures. Would you know what I'm talking about? Probably not. What if I show you this picture Clear. Right. Well, that is exactly the same with goals. You have to know what you want. Exactly. It's not enough to say. I want to go on a trip around the world. You have to be precise. Take a piece of paper and write down the countries you want to visit. Maybe the things you want to see. The food you want to eat, the more specific you are, the easier this to achieve those goals. So if you have written down your countries, you want to visit on your trip around the world, your sub conscience will start looking for everything you told about. You might, for example, focus more on people coming from that country. Let's say you want to go to Australia and you're someone in the Starbucks talking with an Australian accent. You will be enticed to have a chat and ask all about their country right and set your goals . I like to introduce you to smart girls. Smart stands for specific, measurable, action orientated, realistic and timely. Let me explain this step by step. Specific. If you want to go on a world trip, specify the country's the sights and the sounds. The overall feeling off your trip and detail measurable. Your progress towards your goals must be measurable. A specified moment in time is a good description. Action orientated. If you look at every goal every day, nothing will happen. To get closer to it, you have to build it actions to get the job done. Realistic. It's not possible toe. Organize a world trip in two weeks, so be realistic as to your timing and your goal itself. A trip to the moon, for example. Not realistic. Maybe if you watch this course in 25 years, it will be starting me. Deadlines will help you push your calls, so don't say I want to go on a world trip. But you might say I will go on a 30 day road trip to eight countries in Southeast Asia and will leave the latest within 18 months. Now this goal of specific eight countries in Southeast Asia. It's measurable within 18 months, it's action orientated. You have 30 days to organize. It's realistic and has a deadline. Now please download the exercise file to put this lecture into action and let's get you around the world. E. I hope you downloaded the file. If so, put it in front of you. As you can see here, he can write down the goals itself. Remember, it has to be a smart ical. To achieve any goal, you have to chop it up into smaller pieces and work towards it every day. 3. Why start a restaurant?: the first reason might be to be your own boss. Maybe you have been in a job until now, and as you know, you are limited in certain ways. You can decide when you want to work where you want to work, and certainly not how much you will make in any business you set up. Being your own boss will give you freedom. Now, this doesn't mean you are hanging around Aled Day and playing video games. No, it's rather the opposite. You will be working more than you ever have before, But the sense off accomplishment, the fulfillment you get is amazing. You create something that is yours, your heart, and so is in there. To be honest, this freedom is a necessity. You need ease of mind to think everything through. If you need an extra hour in the office to, for example, map out your strategy, that's fine. You have that luxury. You have that freedom Speaking off, creating something. Creativity is the number two reason you might want to start a restaurant off your own. Every single aspect can be decided by you based on your concept, maybe on your corporate identity or even on your own personality. You like a certain color. Maybe you want to work around the theme. You can do debts. You want to go crazy and serve cocktails in the pool. You can. There are no limits to your creativity in every possible detail. You can put something off your own paper napkins, these napkins, the menu, the decoration, the interior. You name it. Reason number Tree. Why you want to start a new restaurant or commence one? You can make a very decent living when you run this business as a tight ship, keep your costs under control and motivate your team. You can provide very well for yourself and your family. Like in any business, you can choose to reinvest your earnings and maybe expand the business. In turn, that will earn you even more. If you really want to swing for the fences, you can even think about Franchising or maybe having a number off restaurants working with people. Don't we all want a sense off being connected? Also, that is a reason sharing experiences with someone for me. Personally, I love it to see someone grow in the business because you hire them, you train them and you make them part of us off a family of a team, a winning team. It's fantastic to see how people can change in your business for the better. Obviously, it's so only your team. It's also your guests. You will be there when they maybe one, a quick lunch or a romantic dinner for two. But you will also be there life moments, a wedding proposal, an anniversary or birthday special moments your guests will treasure for a long time, and you will be part of it. 4. The mindset of a restaurant owner: So the main question is, do you have the mind set off a restaurant owner? 80% of businesses will fail in the 1st 5 years. We want you to be in the other 20% because any way you look at it, it's running a business that will make you successful at this time. I hope you are excited with your decision to become a restaurant owner. But there will be times you will want to give up the real big times when you will ask yourself, Why did you start this? You will want to give up plain and simple. And you know what? That is perfectly fine because if you have the right mindset, you will not give up. You will overcome those hurdles. That is what we call passion Now. He ran my 12 mindsets for a good restaurant and the ones that he should have one discretion . Being discreet is something which will really serve you in the future. Don't tell any gossip, especially not to suppliers. Also, be very careful with name dropping. Your clients will know when you were not discreet. There is no one customer who wants his secrets out there. You're this question will make sure that every client has been treated uniquely. Discretion has mainly to do with posture and the use of language. Someone with the discrete posture has his or her body language on the control and doesn't show right away how he feels or thinks about something. Discreet Use of language refers to adapting the wording so that particular statements are open to different interpretations. In other words, this question is a form of self control, being able to control physical impulses and being able to control your answers. A typical example. Off this question is the pregnant woman. It's extremely indiscreet to say Congratulations with the pregnancy. When you see a woman has clearly put on some weight in such a case, you better don't say anything and you wait for the woman in question to announce the happy news instead. If not, she will be embarrassed. It might well be that she is not pregnant at all, and then she is forced to deny it, causing her to brush mind Set number two, organizing you like organizing. Maybe you'll really do a bit of that. You might find yourself assisting. May be your best friend or family at organizing a dinner at home. Other Ford forms of organizing might be a charity or school community. If you are to be a successful restaurant owner, you will have more than one thing to do. I hope so. So you have to look at every part of your organization as a project to organize. You must be able to manage every single project to perfection, so project management and organisation will go hand in hand eye for detail. You are detail oriented. When you walk into a room, you spot what is out of place. You see what is wrong or what could be improved. You have to give your customers a reason to come back, a lasting memory that will motivate them to come back again and again. And I for detail is not only about improving little things. It's also about putting yourself in the shoes of the guests. What do they see that you don't? After all, when you are in the business every single day, you might miss a few things. Since you don't look it, look at it like a guest. Be proactive and football, they say. Don't wait for the ball go get the ball. You don't wait for your customer toe. Ask you something. You are always two steps ahead. They will be impressed. My former teacher always said When the guest has toe ask you something. In most cases, you are too late. And he was right. You have to read your guests body language, know his preferences upfront and act upon it. We will talk about this much more later in this training number five multitasking. You're able to juggle a few plates at the same time if you know what I mean. The key to this is actually delegating and keeping that helicopter view. On a personal level, multitasking is just like a computer. Several applications are open at the same time and they run in the backgrounds. As a restaurant owner, it's a bit the same. You never take your eye off the guests, but at the same time you're in contact with all the key players. Your team, the guest, the chef or suppliers. Tackling all these tasks at the same time might stress you out, but you have to be able to keep your style while you are under pressure. Creativity? I already talked about creativity on, and it might be a reason for you to become a restaurant owner. But what is it? On one side? It's putting together a concept, but it's also thinking on your feet this meets that things can and will go wrong, or at least not as you planned it. When you are creative at heart, you will have original ideas that bring value specific. Let's say you find a guest. Let's say you find out a guest is It's his birthday during ah, dinner. What do you do? You give him a glass of champagne. Come on. You can be more creative than that. You make an instant picture, you know, for example, Polaroids off that guests, you stick it onto a sheet of paper and have your team sign it. There you go. Lost in memory. Learning is really key. Never stop learning. Analyze every part of your business and improve it. Take extra courses on marketing, growing your business or any specific topic related to your industry. Every skill you adopt along the way will make you better at what you do and how you got your team to excellence vision. That is a question you here old and some people see it as a distant future. But I will tell you this when you have a vision, when you can describe in detail how you see your business in a few years, you will have a much clearer view on how to achieve it. Imagine you say I want to make a blue painting. That means you go to the shop and buy blue paint, not reds. That is vision. When you have that vision, you will be able to scale your business much quicker than anyone else. You will build your team and very soon even have an exit strategy. That means you might already have a view on when you will be stopping, selling or expanding to another business and maybe keep this one. Or you can go on with a partner. Action is the only difference between you getting ahead of the game or your competitors winning this game. The only difference is action. You think ahead. You anticipate, for example, staff getting sick. You anticipate more than think action is what's going to set you apart from everyone. Everyone could start a business, but the one taking action immediately after this training is the one who was going to succeed. A business is never made from your couch. You can perform long hours when I say this. I don't only mean on the floor working. Know your mind is working 24 7 To me, it's the most rewarding thing. I have a challenge every single day, improving the business, being creative on the other hands. Can you physically handle it because you better get in shape when nice things start happening and you have to juggle those plates? People are at the core of your business. No team, no business. No one can do this alone. You have to be able to find the best people and then make them better. Look at yourself as a trainer, a teacher, always not so much a bus but a trainer. Bosses create fear. Trainers inspire, Try to innovate. Doing business is not new. In fact, that's one off the oldest activities in the world. It started out with people exchanging services. I just something for you. You do something for me and then money replaced services. In essence, money is a way off trading, but we will call the pain most businesses are the same. So can you innovate? Maybe new ways of services, payments, products, all things to think about. These are my 12 qualities. A restaurant owner should have now download the mindset overview and hang it in your brought through. So this is the first thing you will see every single morning just before going to bed. Work on these and you will improve. Leave me a comment and see you in the next lesson. 5. Your concept: How do you see your restaurants? Do you have an idea about the interior, the number of seats, or even how your waiters will be dressed? Will you be open in the evening or only for lunch? Because you're opening hours can have a big influence on your whole organization. Worldwide. The hospitality industry is under pressure due to new taxes on labour. The biggest cost in any restaurants is your team. When you invest in a glass or a plate, the cost is only one time. Food is not that expensive, but every piece of material is handled by people. They have to be paid for. Every hour they work over and over again. If there's one night you don't have any customers, the costs of the glass remains the same. We're not the cost for your team. They have to be paid their salary, whether they are customers or not. So you better have a good schedule and think hard about opening times. Your concept can be built around these opening times. Now what food will you serve? Research, fine dining or burgers, and how will you serve it? Plate it on Rollerblades tray service. All this will influence on your investment in the first phase of planning. Another question to ask yourself is, How will you pull this off? How will you surround yourself with the right stuff? Really? Ask people to help from your family while I must warn about doing business with family. But we'll get to that later. Now think about your starting coast. How much money will you put in yourself? What is your budget? In order to count Lee your possible investment, you have to calculate first your possible revenue. So think about your average ticket price. That is the amount one customer will pay. This could be in the range of 20 to 30 euros or dollars, or even looking with 40 to 50 in fine dining could easily be above 100. This will also determine the type of customer you will be serving and that his stern will map out your marketing plan so you can see there's a lot to think about before you start to plan on. Before you can decide on the concept you want to operate, I would recommend you to have a look around what is out there these days. For example, one product concepts. These concepts are all about the product. It could be that a restaurant only serves salads or maybe just many possible ways of cooking a chicken. Think about McDonald's. It started out as a one product concept. The hamburgers. Other examples could be sushi. A Japanese restaurant traditionally serves much more than only sushi, but there are sushi only restaurants. Culture, Mexican, Italian Chinese restaurants will all be about culture. There are even restaurants combining two cultures in one. The duration off the restaurant can also be a concept. You must have heard of a pop up restaurants that there's a restaurant that has a pre defined closing date. You can, for example, open up a barbecue style restaurant for the summer. Let's say to the three months most restaurants start with the mind set off. We have started, and we will see when we stop. A pop up is the opposite, and it might give you a few interesting options. The style of service could also be considered as a concept. I must clarify that the style of services independent off the theme you can have a casual dining Mexican restaurant. We can also have a fine dining Mexican, but both remained Mexican. So it's the style of the service and the food that will determine the style. Now let's have a look at a few other concepts. The 1st 1 I want to show you is called Bowls and Glory. It's a concept that is all about meatballs. It's actually amazing. So they take a fresh meatball and they put AH, filling inside so they make the filling. They freeze it, put it into the fresh meatball, and then they cover it with a crunchy spice. The only way to do this is to handcraft them. This company makes about 4000 meatballs a day, and there well, at this moment in time, a small company. But I'm convinced the they will take the world by storm. The set up of the restaurant is amazing as well. When you go in, you actually go into the kitchen. That's the first thing you see. People can just sit down at a table, or they also have big tables where you can all sit together and get to know people you didn't know before. Um, the still water is free. Stop water, but it's free and the price off the whole dish is about 12 $15. They serve from the meatball with a potato mash mixed with vegetables, and they offer you two different kinds of source. It's Ah, regular, meaty one, and the spice one is with with green curry. You should definitely look it up on the Internet. The next concept I would like to show you. It's called Sushi Summer. They have an amazing mixture of combining Asian food and other cultures. Um, I personally visit the one in Las Vegas, and I ordered on 800 degrees Rock to put on wagyu beef. The meat was sizzling on the rock, and the ambience amongst France was absolutely amazing. You should check it out. Another one in Las Vegas is called Prime. It's a restaurant by Jean George Vongerichten, and they serve first class meat cuts. This is a bit higher profile, but it's really worth the visit. And last but not least, planet Hollywood. It's been around for ah well for years, and the concept hasn't changed that much. And although they have been well, the rumors say they have been in financial trouble. I still think it's a great concept. The chicken crunch is one of my favorites, as well as the for heaters. So what is your concept? If you haven't decided yet, that's fine. But you shouldn't take too much time, either. Since the next step, it's starting to look for your perfect location off your dream restaurants. I'll see you in the next lecture. 6. 9: Now let's talk about the concept. At this point in time, you have to draw a visual picture for your reader. You have to make them warm for your concept, and we'll do that right here. So, first of all, we're going to describe the concept what it's gonna be about. It is gonna be an Italian restaurant. It's gonna be a Mexican is gonna be a stakeout, etcetera. You should also add menu samples. This is really time to get visual. If you have a completed menu design, great, you should add it if you have a design of the restaurant if you have blueprints. If you have layout, everything will help them. Visualize your concept off. Got some together for you, for example. Here, this could be a menu courts. It's, um, it's a bit minimalistic. It's a fine dining askew can see prices are a bit higher as well, but it's very nice. This could be, for example, another one where it's a bit more brasserie style. But I think that the look is absolutely amazing. Eso that that already gives a feel of what the restaurants and what the concept will be like. I think that's very important. Um, blueprints, for example. This is a project that I worked on. This was absolutely an amazing restaurant. It had a 270 degrees view over over the city, and maybe you can see, but there's ah, chameleon drawn on the on the plan on Actually, that was the ceiling. The restaurant was called Chameleon Sky because it was on the seventh floor and had a comedian worked into it. You don't see that much here, but can you see near the bottom, for example, the round bar. And then you see all the chairs and all the tables. It's a bit difficult to visualize. So if you're an investor and you get this in front of you and a business plan, how will it look? Well, we've got some very modern techniques thes days, so we can ask your architect, for example, for a three D rendering just like this one. Um, as you can see, you have the comedian in the in the ceiling. You've got the bar over there. I'll show you another picture. He ago you can see the tail in the of the in the ceiling of the communion on again. The chairs. That was absolutely an amazing place. So this absolutely visualize is immediately your restaurant, not only for investable, for you as well. You can choose your materials you're gonna use etcetera, etcetera. Um, so back to blueprints. Not only the restaurant should be on their, um, well, the kitchen as well. You can see where they would enter. That would be to the bottom two left. When you come in, you see the dishwashing area. Then it goes on. And he got the chefs office, as you can see. And then you got the big kitchen. You got the gold room for the for the wines and in the back, off the off the restaurant, you got some other gold rooms. I think that's really important to show investors in how it's gonna look like that. You are a professional that you have thought of everything 7. The right location: don't mix your concept with your location. It is possible that your concept is interlinked with your location, but they are two different things. Now let's say you have a seafood restaurant and you are located at the beach. Great, but that doesn't mean that your location should be adapted to the concept or vice versa. The main concern should be if your location will have the right infrastructure to support your concepts, ask yourself this. Why is it that certain restaurants succeed and others fail at the same location? I have known off many examples where you see a building being empty year after year on all of a sudden, there is a restaurant that gets it right and settles down on that spot and makes it a success. Should you find a venue where you don't find many restaurants? That might be an opportunity as well, because people will be talking about the fact you're the 1st 1 It's a marketing strategy strategy we call first in minds. Something that's a chief first is mostly remembered the best. Can you tell me who was the first person on the moon? Everybody, No, it's near Armstrong. Can you tell me who was the third person on the moon. So having the advantage of being the first incident location can be to your benefits. Is your restaurant going to be a destination? Restaurants know what I mean? By that, I mean that people have to make special efforts to come to your restaurants. It could be that you're the only restaurant with indoor playground for kids, so that means they will come especially for the playground. That's what I mean with the destination restaurants on the other hands. You might be the only one serving fresh sea fort seafood for many miles around. So if customers want seafood, they have to come to your place. The place to be the destination to be a destination restaurant will interact close with your concept and attract customers. Therefore, when you're choosing location, have a look at what freeways are running pretty close to. It may be a freeway exit a couple of miles away, but also be an advantage. If you can in any way attract people driving on the freeway, you can exponentially increase your marketing visibility. Think about the McDonald's golden arches you can see from far away on that very high sign. They have same thing also, when choosing location, be very careful about accessibility. If you focus, for example, at Children groups, make sure that your parking lot is big enough to have a bus on the other hands. You should be careful about disabled people. Make sure you have a ramp for when people come to the restaurants, they will be very grateful. A good technique to check if the location is interesting is to count the number of course that are passing in an hour. Let's say you have three locations you're looking at. If the 1st 1 has 100 and 50 cars driving by in one hour and the other one have to 50 cars an hour, I think it's obvious which one it will be. You choose. I must also say that I know a lot off three star restaurants on the most remote places because when you offer something exceptional, it doesn't matter where you are. You can do the same technique for people stopping by or, better yet, walking by. Not a few tips on this topic. Traffic should not be too fast as well. If you are located at a big road. People might miss your place because they drive too fast. If you restaurant is near a red light, make sure your signs are big enough for people to read from the car. In any case, passing by it's free advertising, so you should think about your stopping power. Stopping power means that people have a reason to stop and look at your restaurants. A very attractive sign could be stopping power or announcement with a special offer or an upcoming events. Just make sure if you go nuts on signs that you have to correct permits, think about inviting city officials. There's nothing illegal about it. Talk to them about upcoming real estate projects or about traffic. It works about to happen. Oh, plan. In the future, maybe you can avoid having your restaurant shut down because of roadworks. I'm sure they will welcome any business initiative that provides jobs to the community and on that go around town and talk to real estate developers. They know the markets, they no new projects. The neighborhood will also give you a ton of information. People living for 20 years in the area might have seen restaurants come and go and they might just know the reason why as well. Another tip. Uniqueness isn't everything. It could be that there is a concentration of restaurants on that yours just might fit in. Think about Chinatown, for example. Interesting locations could also be residential areas. A lot of people living together might simplify your marketing efforts. On the other hand, shopping centers are also very interesting where a lot of people come shopping. Traditionally, team parts don't have that much competition because people eat in the team parks, but you can turn it into your advantage. The food and theme parks can be very expensive, so if you offer something very interesting and nearby that could be tempting. Industrial zones are also very interesting because you have a lot of companies together. You can combine your marketing efforts and send out mailings toe all the companies at once . The other positive point is that companies might hire you to do some catering or harder your venue foreign events and schools and universities, another one, which is very interesting. If you have a lot of students, you can maybe half a concept that offer something really cheap. I personally know a restaurant that sells pasta and take away cups. They sell it for about five bucks. As students are crazy about it, they offer a range of sources to mix, so every day the students can have something else. Places where you have lots of traffic queue to transfer rotation is also interesting. Think about train stations, airports, bus stops. People tend to buy things just before they go on a long trip. Maybe your concept can apply to that parking space. Nearby can be another attraction to your business. I don't mean by that your own parking spot, but it could be that after closing time, the parking lot of a nearby supermarket can be of service to your customers, and it's an advantage to your restaurants. It could be that the different areas require different permits. If you're restaurant was, for example, in Las Vegas, it could be that you need a permit linked to the gambling law. Also, fire and health policies could be different for your area. If you want to get around to all the permits and all the things you have to do, you can off course by an existing restaurants. What licenses or permits do you need. Well, you will need the alcohol license. Maybe a business operation permits a Kate drink. Permit your federal i D tax health permits, maybe local sale Texas. And it might be that you need state sales tax permits as well. So you have thought about your concept. You have found your location. While that is going to be your place. Your restaurants. Now you need a plan, A business plan. 8. Why you need a business plan: Why do you want a business plan? You'll really know the obvious reasons. But there are so many other good reasons to create a business plan that many business owners don't know about. So just for a change, let's take a look at the less obvious reasons. First, and finish with the ones you probably already know about. A business plan is too often made and never looked at again. Most people make it and think, Well, I need this to convince the bank or investors That is only one reason, but for the business, it is in fact, a very important documents. When you make a business plan, it's thinking time. You have to know only visualize your business. But think about every single little detail. Business plans can have an internal or external focus. Externally, plants target goals that are important to external stakeholders, especially financial stakeholders such as investors. External stakeholders can be, for example, your future clients or government agencies and of course, banks. The presentation off your business plan is important as well. A visual, attractive and easy to re plan will have more success. All those stakeholders will expect a detailed plans plan. The glanced first at the document and their subconscious looks for key points, so investing in a professional layout will certainly benefit you. How do you start writing your plan? So you are opening this business, and that means you want to focus on what you do well. We cannot be experts at everything. So when you make your business plan, it should attract experts from every section. For example, you might want to talk to accountants when you're making a financial plan and talking to a marketing company. When you're making your marketing plan off course, this will cost you a lot of money. But it will save you money in the ends. And if you like, you could always do it yourself afterwards. Now split it up in pieces to make it easier to read for the investors. And let's have a look at the pieces off the business plan. Okay, so this is or this could be a complete overview off your business plan Purpose of this business plan 0.1 introduction that could does. That could be your executive summary. It's how you like to call it, um, second keys to success. What you will do to make this a success, um, number to choose Epi's. So all about the restaurants, you can divide that into about us, our history and the team that will be managing and managing it. We talked about that. Maybe list your products. That's always a good one. Beats us. Pastors take way. Eventing. And I have, ah, small text about that as well. Um, marketing. We talked about that a lot of small. So the analysis the market needs to competition with the competition analysis, SWAT analysis. Do you remember what it means? Strengths, weaknesses, opportunities and threats. That's also a good one to remember sales forecast with the big one on that and use of the branches. For example, something else you could you could add, Um, timeline. That's another big one. You want to put down some milestones in your business plan. For example, after one year, we want to expand the kitchen or we want to attract at least 500 people for our take away etcetera. Write something about the vision investors and banks. Lawful visionaries maybe puts him innovative things in there. Um, partners could be another one. If you partner up with a company a supplier you name, it's. And of course, the financial plan is a very important one. So this is a brief overview off what the what the business plan could could look like. Um, if you need any more information, you can always send me a message, a more than willing to to assist you in any way that I can. Um, and I think that this business plan well, shouldn't have any more secrets for you at this point. So I wish you the best of luck. And in the next next point, we'll have a look what happens to people that don't have a business plan, Since a business plan is a decision making to you should keep following in minds. Investors or banks don't care about you or your business. They care about potential banks will want to see how you repay alone. And investors will want to see feasibility and exit strategies in short, how they will get a return on their investment. On the other hand, they were investing people who are driven and show perseverance. No making a business plan will require a wide range off specialized knowledge. For example, finance, human resource management, intellectual property management supply chain management you name. It's on, of course, marketing just to name a few. So it's very interesting to have help in different areas from certain experts. I would advise you to make your business plan at least five years into the future that will show the people who reads it that you are thinking this true long term. Not only your vision is good to look at on a five year stretch, but definitely your financial plan while writing. Think about what if scenarios, good ones and bad ones. What if the chef gets sick? What if road works blocked the entrance for year? Or maybe you get an award after two U two years and people are having trouble making a booking because of the success. When you write a view on the funds you need, always state what you are going to do with that money. If you should ever pitch to investors, they want to know what you are spending their hard earned cash on your own salary marketing new interior etcetera. So a business plan should be a working documents, another laying around documents. It is a document that will give you direction and guidance. It will also provide vision and describe behaviours, attitudes and ways of working based around your philosophy. These documents will only work if you can measure the progress and check it against the reality down the road. So make sure your outline for the future is flexible and responsible to feedback. As I told you before, a business is not an exact science, you will always drift off from the initial plan. If that happens, make sure that your business plan is there to refocus on. Bring discipline to the review process. Last but not least in corporate milestones, four is good number. Spread them over the five years and hold on to them. Now what could be a milestone? But for example, you first employee or hitting a certain revenue opening a second location. If you can dream it, you can do it. 9. How to write the business plan: how to write your restaurant business plan Now, why do you want a business plan? I think you already know the obvious reasons, but there are so many other good reasons to create a business plan that many business owners are. Restaurant owners don't know about eso. Let's go through it on and we'll have a look at that. So in the scores, like we said, the restaurant's name is gonna be Jews Epi's. And when you make ah business plan, you really have to think about it. It's really thinking time. I advised to go away, spend some days in the country or clear your head. But you really have to think every little detail through. It should be five years into the future. That's what investors and banks like to see on. Don't only think of this as a document that you make. Put it in the cupboard, and I never look at it again. It should be a working document. It should be a document to measure progress and accomplishments on give direction. It's also ah, document to check division. It could be that you have a vision now. It will change in the future, but it's always great to look back to. What if scenarios? Very important. What if the road is broken open and customers can get to my restaurant? What if the chef runs out? You have to have a view on the funds that you need. All that are required to start up. Your restaurants will go into that later. Very detailed. So how do you start writing your plan? Well, you can be good at everything If you want to be in the restaurant business and be a great restaurateur. You're not a great financial guy, for example. So we're gonna attract experts for every single section finances. We won't talk to talk to a finance guy marketing maybe someone with marketing experience and the business plan. We're going to split it up in pieces because that's how that makes it easier. And it makes us. It makes it easier for us to focus on certain pieces 10. Executive summary: the front section off the business plan is called the Executive Summary. The strange thing is that you write this lost. You first have to finish your complete business plan in order to write a good executive. Summery. Now this summary gives a snapshot off you want to achieve. You can look at it like a trailer for a movie. The audience, which is reading your business plan, should be excited to read the whole thing. And when you make your business plan, you'll be thinking off a lot of things, and this can be summarized in this executive summary. If you were to write this first, you have to adapt a business plan to the exact executive summary, and it doesn't work that way. A few tips I can give you about the executive summary. First of all, it should be about 3 to 5% off the length off the main business plan. As a rule, I would suggest to limit to one page. Think about who will be reading this. Try to talk their language, don't over complete overcomplicate a business plan for a restaurant, for example. Then again, you need to use the correct language. If you would be opening a private clinic. Make sure the paragraphs are not too long. Make them concise and easy to read and always right your executive summary in the same order as a full report. So, for example, when you start to present your team off people you want to work with and then the financials respect that order as well. In your main documents, don't write anything in your executive summary that is not in your business plan, because people will start looking for it and you didn't explain it properly. That will create confusion. And obviously we don't want that at the end of your executive summary and strong. Stop with a conclusion and make sure that the reason will think this is interesting. They read the whole thing. In essence, an executive summary should be able to function as a standalone document. As I told you, the trailer separate from the movie. Now let's treat the example for this course. Okay, so here is the example of the executive summary. Let's get let's get through it so that you have an understanding off what I'm what I'm getting at. So it reads this business plan for Jessie Pease reflects the opportunity to purchase the assets and leasehold improvements off the restaurant currently operating as the state club . The current owner is interested in selling the operation. Has the story is not doing the volume he thought it would, and he would like to get out of this location and the debt service he has incurred. My goal is to submit this business plan to his bank in the event he is unable to make a loan or rent payments on the 14 below. We will be in a position to take over the existing loan and with additional funds at its convert this location to a profitable, which is Epi's franchise restaurant. So in this first paragraph off this executive summary, you already get what's happening. So it says that we want to take over a location, which is at this moment Steakhouse. We give the reason why the current owner wants to leave on. It shows immediately that we have a certain opportunity. That's what people want to read if they are going to invest. So the executive summary goes home. The location is only 1/4 of a mile away from Caprara, the largest land moving project to put in a major shopping complex in the state. The rent is half the retail shops and Capra, yet the location offers the same opportunity for sales. The recently completed how a highway went for one offers hundreds of thousands of local residents, shoppers from outside the area and travels that use this new highway with this high concentration of customers. There are no Italian restaurants in New York and a tremendous need for an upscale family restaurant that offers items for both the Children and others. In the second paragraph, he cannot see. You can see many things we already talked about in terms of location, so it's near a highway. It's got thousands of local residents. Shoppers on beer are no Italian restaurants, so that's that's quite interesting. So in this first piece of the executive summary, people already got a good grasp of what the opportunity is and what the location will be, and and so forth. Okay, let's go on to the second part. It says This turnkey operation seats 60 customers and is the perfect size for Giuseppe's family operation. With the current leasehold improvements and quality kitchen equipment, it would take three little to upgrade this operation to the legendary Giuseppe's winning formula. The growth in numbers of high income families in the New York area is projected at over 30% . There is a need for a family fine dining restaurant in the New York area. Giuseppe's would be the perfect neighborhood restaurant in the perfect neighborhoods. It goes on. Giuseppe is in New York will be the second location from Mike Sloan, who has operated a successful franchise unit in High Ridge, Missouri, for 20 years. Giuseppe's based out of ST Louis and now has over 34 successful company and franchised locations in the United States and Mexico. Giuseppe's New York will have a prime location. Great Food, a proven concept super franchise supports no competition. A senior management's and crew. A fantastic neighborhood marketing program. Ah, huge catering base to build on personalized service in a warm Italian import grocery store atmosphere on the support of the community, resulting in a highly profitable Giuseppe's restaurant in New York. Well, if that doesn't sell, I don't know it anymore. This is really a great summary, and I hope you can write something just like it if you look at that last paragraph, for example. It sums up what's so great about? Well, the restaurant and it really entices you to read on. 11. Company description: The company description section of your business plan is typically the second port. After the executive summary, the company description explains the violent, vital details about your company, such as where you are located, how many people are in the company, what you do on what your goals and milestones are. It also describes the vision and direction of the company so potential investors or partners can develop more correct impression about who you are, what you stand for now, what should accompany description in the business plan includes the exact parts included in your company. Description can be different from business to business, but here is a list of some of the most important parts to consider. First, the company Name the official name of your business as registered in this state or country you're operating in the type of business structure. Is it a sore propriety ship is a limited company partnership or corporation? Depending on the country, you might want to talk to your accountant about this next ownership or the management team names off the key people behind the company. Most likely that will be you or the people. You are starting the company wits. Oh, And by the way, it doesn't necessarily means you are starting a new business When you are making a business plan. It could well be that you started out without a business plan. I want to expand, and therefore you want to borrow money. You need a loan from the bank or from investors. And that is why you need a plan. Next location. Where is the company headquarter? Do you have any other locations, such as shops or warehouses? Maybe even a place where you keep all your vehicles, for example, sort of a parking lot. The company history should be in there as well. When did you start the business? What inspired you to start the business? Maybe it's a family business or your family inspired you. What need does your company fulfill? I mean, what problem do you saw for your customers? In short, what is your added value over the years or the years to come in this section of the business plan? He should also integrate your mission statements. A mission statement is a statement that clarifies the purpose of your company. It is a very short description off what you stand for, who you are and where you want to go. A lot of times, mission statements will say a lot more than what is written, and people get it. They understand what you mean. And here are a few companies you might know. So what is your mission statement? Yours could be to give guests a delightful moment away from worries. Look carefully at the words guests. I didn't write them customers or clients because guests are people. You welcome to your home to your hotel, to your restaurants. The fact that we write guests already invokes a feeling. Next, a delightful moment that could mean that you have a set of guidelines that will support that statement. May be nice music, softer pillows that what you find in other hotels, you name, it's and at the end off the statements you see away from worries that could mean that you train your staff to have a ground rule of not talking to guests about their own problems. Whatever problem there might be, Do you see now how powerful a mission statement can be? Have a look at the document attached to this lecture to make your statements to find the heart and soul off your company products, services and the target market in the next three sections of the company description. It is time to get practical. Give a brief overview off what you plan to sell into who a general overview off the products or services is enough. You don't have to list everything here again. We want people to stay interested and read on. However, describing your target market is good idea. Think about demographics. What age group will you target? What interests to your customers have next to your product? And how big is that market, depending on spending habits or the location where people live? An example Could be. Our guests live in the 25 mile radius and are bigger families looking for an affordable family sharing experience could be a good target market. If you want to attract families with, for example, on all you can eat sharing barbecue concept, your objectives is another one. This gives the reader and outline off you want to accomplish in the immediate future, based on the data and the rest of the business plan, as well as future goals for growth, you can tell here how much revenue you will have by a certain point in time, or maybe two. How many restaurants you will have expanded in and, let's say, five years time. A vision statement, a vision statement about how you envision the future off the company. This is not the same as the mission statements and to show you the difference, have a look at this picture. Here are a few tips for writing a comprehensive company description in your business plan that answers all of the reader's questions about who you are, what you do. And while you do it first, start strong. Begin the company description section with a mini summary that shows all of the vital information about your company. Imagine somebody is putting a gun against your head, and you have to describe your company in 15 seconds. That's how you should do it. Next. Simplify when you have written this board, and actually this goes for the whole business plan, ask yourself what can be removed? Yes, what does not need to be there or there sections in there that feel irrelevant or sound like bragging? Take it out. The readers don't want to waste their time reading about how great things are, if you can grasp the essence. I mean, don't overdo the whole thing. When something is too long, people will put it away. Next, soak it in passion, showing every words why you are the right person for this company and why they should invest in you. Show your expertise and your passion. Your excitement should show in the tone of your writing, and your aim should be to get the reader interested in reading the rest of the business plan. Be professional with the first document off your company before handing your plan to banks or investors or any interested party for that matter. You should be professional from the starts. For example, have it prove read by someone in your native language who will see grammar and spelling mistakes. You really don't want to give this to someone full of typos. 12. The management team: Okay. What else is there in the business plan? Well, the most important piece of your whole restaurant, of course, is your team. Andi should start with to your management team. Um, if you're not going to run your own restaurants, you should be asking yourself who will be running this? Um, you have to write this down in your business plan. Always interesting to mention experience and history that built up credibility, Um, on any other partners or owners to consider. That's also very important to put in. Um, General manager. What is expected from the management? Will he or she be present on the floor? Is it only a strategic choice, etcetera? Um, of course they had Chef. Very, very important. It could be that it's you. But if you don't have you, if you're not your own had Chevy, you got to go out and fight someone That's a bit risky. I'll tell you from the start, if you've got your head chef and all of a sudden he's in, God forbid in an accident or or he he just walks out. Your restaurant can close. That's it. So be very careful about that. Um, what else no nondisclosure considerations. Think about that. If you're making a great concept and all of a sudden somebody walks out on go and copy you , maybe you can put in a competition close in the contract. Very interesting. So what else do you expect from management's? Um, well, over the goals. And if I can, um, give you an advice, you need to drop smart calls. What are smart goals? While smart girls s m a r t, it stands for specific, measurable, action orientated, realistic and timely. Um, if you put up a smart goal and your management is going to live up to it, that might be very interesting. I give you, for example, Ah, I give you an example of a smart goal. It could be that you say we want customer satisfaction up to 85% over the next two years. So that's actually ago that you can measure its action orientated. It's realistic, and it's very specific. So think about that 13. 6 steps to self confidence 1 4: let me give you the six essential steps to self confidence. First of all, posture and poise. Our posture is all about how you stand, how you carry your body. It's how you walk. It's how you stand when you are waiting on someone, etcetera. Now, a good exercise to exercise your posture is this one. You stand against a wall and actually push your shoulders against that wall, you push your heels into the wall. Now it will not feel comfortable. But it will show you what it is to have a good posture with our butlers when you're training our butlers, we actually put a book on their head and we asked them to walk. Why? Because you are forced to held up your head Straight. Poise is not the same as posture. Poise means that you can adapt yourself to any situation and don't show that you're actually very nervous. You have to slow down. You have to speed up. It depends on the situation. One thing to help you there is actually doing relaxing exercises or breathing exercises. The second step toe building self confidence is called gratitude. Now you're probably thinking, Is that saying thank you when somebody brings you a coffee or gives you a beer? No, it's much more than that. I would suggest you do a few exercises. One of them could be thanking one of your colleagues on with thanking. I mean, send them a sincere email or maybe write them a letter, maybe a hand written letter. Nobody does that anymore. You can write in that letter to your colleague. Thank you for supporting me every single day. I really appreciate what you do for me now that that will need self confidence that will need guts. The other thing you could do is send flowers to your parents for no specific reason, not the birthday of an anniversary. Whatever. Send flowers to your parents, maybe to your girlfriends, to whoever could be friends and thank them for being a friend. I'll tell you this. First of all, it will take you self confidence, but otherwise people will be surprised and that on itself will build self confidence. Number three step to build self confidence. Sit in the front zone, I didn't say said in front rope. Is that sitting in front zone? What I mean with that is leave your comfort zone. Do something. You don't feel comfortable. Wits. One could be, for example, filming yourself as I'm doing right now, that takes self confidence. I'm actually talking to a lense. I'm not really talking to you. The other thing you could do is go on stage and give a presentation. Now it all takes experience. It all takes exercise. And you can learn this because we train a lot of people in every possible industry. Not so long ago, we had somebody working at a reception at the reception desk and this lady, she didn't have any self confidence. So she came to us and she said, What should I do to build self confidence? You know what? Another thing is knowledge. You have to know what you're talking about, and that brings me back to speaking in front of a bunch of people. If you want to speak in front of an audience, one thing you should have to build self confidence is knowledge about what you're talking. The other knowledge you need is how to behave yourself. How to speak. Not too slow, not too fast. How to handle the mic, for example, All these things will bring your self confidence and we'll get you out of your comfort zone . You comfort zone is actually more like a muscle. The more you train it, the more you will stretch it. So sit in the front zone. Step number four. In building your self confidence, Practice your elevator pitch. You know what an elevator pitches. It's actually a personal presentation. Now let's picture this. We're at the bottom off the Eiffel Tower in Paris, and all of a sudden you get into the elevator and you see me and you see this little pin or my suit and you come up to me, which already takes a bit of self confidence. And you ask, What is that pin? What does it mean? Well, an elevator pitch is me having about 30 to 45 seconds to present myself to you in a confident way. I could, for example, say to you Well, my name is Vincent for Mylan. I'm the founder and director of the School for Butlers and Hospitality. I actually trained butlers, and we also train a lot of companies in every subject such as hospitality service and eh tickets. I'm here in Paris to enjoy the amazing views with my three Children and my wife. Now that could be a elevator pitch. This could be a confident pitch about yourself. And if you write that down, which I would actually recommend you to do again, that will build self confidence. Because if you go anywhere, for example, a job interview and people say, Well, introduce yourself. A lot of people say, Well, I had an education on I come from. You have to be confident you have to exercise this in your mind. So practice your elevator pitch for the elevator pitch. I have added, actually, a document in this lecture downloaded and used the strategies we are showing you. 14. Step 5 the art of conversation: the fifth step to self confidence. To me personally, is the most important. One is the art of conversation, verbal and nonverbal. So what we know is language. Now, As you know, language is divided in two parts. The verbal part on the non verbal parts, the non verbal part we might know better as body language. Maybe you know this, but body language is divided into three parts. First part is worth only 7% of our body. Language is words. It's the least importance. Much more important is Internation the way you will use your voice. That's about 38% of body language. With intonation, you can change a situation with emphasizing a word or syllable. Certain situations can completely change. For example, look at this person. He's a tennis player, and this is what he shouts to the referee, and you can see his body language now. What I'm going to do now is I'm going to change the picture, and I'm gonna leave the words now. Were you smiling when you saw the count? Why did you smile? Because the majority off his communication made you laugh because the words might stay the same. But his communication. His overall communication is completely different. Why is that? Because 55% off body language is physiology now. What is physiology? It's bit of a difficult words, but it means the way you hold your body the way you stand. Actually, it also is all about visual expressions. So the way Use your face. It's even about breathing patterns, the way you breathed. If I would have, for example, somebody walking in here who's been jogging, his breathing would be completely different than mine. Okay, let me give you a example. You see these two people? Yes, this is Angela Merkel, who is the chancellor for Germany and the former president of France, Nicolas Sarkozy. How would you say the mood is in this picture? Well, we cannot hear them. We cannot see or we could hear rather what they are saying. Well, we can see it's you know it's pleasant. They're having fun there, pointing at something. While it's not the most polite thing in the world, 2.2 people. But we can see that the atmosphere is quite OK. We can see it because we see 55% off their body language, physiology Now I'm going to show you now a picture off those two people exactly the same. There will be pointing again and have a look how their body language will change. Actually, the atmosphere did you see it's completely different, and that is the same with you. If you walk in somebody somewhere, let's say a bar or restaurant. People will read your body language and we'll see if you're a confident person or not. If, for example, you want to talk to a lady or tour a gentleman, your physiology will show everything about you. It will show your self confidence. So body language, the non verbal part of language is so hugely important. One example. Off body language is shaking hands, by the way, that you know where that comes from, shaking hands again that comes from the Middle Ages. That's where nights are actually taking off their glove and showing their opponent that they were not carrying any sort or daggers. So again, it was a sign of trust, for example, saluting Yes, that's also from the nights it's actually opening the helmet off the harness to show I look you in the eye, and it is a form off trust. No, you shouldn't. I mean, I'm full of all of these things you will probably never use. But shaking hands is actually a great way to show what body language is now. How do you correctly shake hands when you shake hands? First of all, you should give a straight hands. Not like this. Not by that's but straight. Second, you never let your hand come from operates next. You should slightly advance towards the person you are greeting because can you imagine shaking hands and pulling away from someone? It's a bit strange, isn't it? Next, you should be smiling and making eye contact in most situations. Let's say you are at a funeral. The smile will be just a bit less a bit more discreet, if you know what I mean. When you shake hands, make sure it's rather powerful. But gentlemen should be aware of ladies and don't shake too long because shaking too long can be a bit of something awkward as we might have seen the press lately and all these things will happen at the same time. So you have to give a straight hand like this. Look into the eyes smile. Not too long, kind of powerful, etcetera. Now, one of the most important things not to do while shaking hands is actually turning your hands while you are shaking hands. Why not? Because when I turned my handling this, it shows that I want to be any dominant position. Now let me illustrate and sum up what body language means on I'll show it through a handshake of two gentlemen. Now, these two gentlemen were not the best friends in the world on this picture was actually taken after a meeting. Now, after this meeting, they said, You know, let's be friends again and let's work together. But that's not actually the case. When you look at the picture because the body language and the shaking off the hands says everything, have a look. Do you understand what I mean? You can see who is the dominant one. Well, the thing is, they're both kind of dominance, but this picture shows you what body language can mean. So bully language, nonverbal part of language and non verbal part of the art of conversation is so important in building self confidence. And as I told you, language is divided in two parts, verbal and nonverbal. So to perform the art of conversation, obviously you will need the verbal part now. I also told you in body language that only 7% are words. That's the least importance and bully language. Yes, in verbal language know their hugely important the words. You choose how you choose them, how you pronounce them. Everything will show the self confidence within you. For example, etiquette starts with thank you responding to people when they are talking to you and saying, Excuse me when something goes wrong or you have to excuse yourself. Now these are only a few simple words when there are so effective. Now we train a little of companies in etiquette, hospitality and service. And what we see is that the vulgar part of language can be so hugely important in selling. We advise people to change words to replace words. Actually, now, let's say, for example, the word price. Whenever I hear the word price, I think that guy wants to sell me something. He wants to actually push me into buying something. Now. What if he would change the world price? What if you would, for example, change it into the words value or tariff that would be completely different. What if somebody says, What's the price of that car? You could say the value of that car is now. That's complete different, isn't it? Because when I hear value and I buy that car, I have something of value. I didn't actually buy a price. Correct Now, another word, for example, is work contract. Yes, that could be, for example, agreements. Because when I hear the word contract, there's only one party doing an advantage. When I hear agreements, you got two people having an advantage. Now that's what my feeling is. How is yours? A cost could be an investment. A problem could be a challenge on a signature could be a confirmation. Now if you all put it together, let's say you go to buy a new car, you go into the car dealership and the sales person says, Let's go into my office and sign the contract. What if he would say, Let's confirm the agreements Now That's totally different, isn't it? Because signing the contract might give you a feeling of actually being stuck to something which you have to pay for for a couple of years when he would say, Let's confirm the agreement that's completely different. As I told you briefly, we trained Butters on. Bunkers are actually masters in self confidence, and they know how to use their body language combined with the language. It's all about what you say and how you say it when people come to our school in the first few hours off the training, we try to teach them a different way off talking. For example, in the first few hours, we advise them to avoid four expressions. Now, what are these expressions? The 1st 1 is yes, The 2nd 1 is no. The 3rd 1 is okay, and the 4th 1 is no problem. Now try and avoid that. A new vocabulary. It's not that easy when you go into a conversation with someone. When you go into a cells conversation and you use the word problem per definition, you are using a negative words, so we would advise you to completely change that. You will never hear me say no problem when you are, for example, any restaurants and you ask away to something he might say. Sure, no problem. And three minutes later, he comes back and say, Oh, sorry we ran out of this or we don't sell that anymore. So there is actually a problem. By changing those words, you might completely change the situation. A while ago I was in a restaurant and his waiter came up to us. It was with my wife and my two young Children, and he had his note pad on his pencil and he came up to me and he said Yes. And I said, Hello and he took my order. I can't remember. Maybe two coffees. You know what? He answered me. Okay, As you can see, any service situation in a body language slash self confidence situation, that's the ideal. Well, he could have set, for example, is so good morning. What can I serve you? And then I would have said two coffees and maybe two Cokes and he would could say, Very good, sir. Anything else? Now, as you can see, that's quite a difference. Not only will I feel service much better, but also by using different words by using the right body language and maybe a little smile that will change that situation completely. The art of conversation. It's all about language, verbal and nonverbal. It's also how you say things and how you construct your phrases. While ago I was calling a company because I needed some work done in the house. And you know what they said to me. You have to call back. And I thought to myself, Wait a minute. Who's the customer? You or me? I thought that a company should take the initiative to call the customer back, because if you say you have to call back as a company, you're actually saying, Dear customer, we are far too lazy to call you back and actually, you know, interested. That's what you're actually saying. Another one is, for example, can you send me an email? That's what you hear a lot when you call companies or customer service desks. And when they say, Can you send me an email? They're actually saying, Send me an email and I'll handle the problem when I have the time. When it suits me by saying, Can you send me an email? Your meaning? Something else and customers will notice. So again for verbal and nonverbal language, and any situation is so important, let's say you go to a bar and you see a lady or a gentleman, you want to talk to how you build up. That conversation will determine what the outcome is off that evening. 15. Wardrobe: the last and final step in self confidence is or drop the thing you wear. I call it sometimes a armor. You don't need to wear a suit like me. You can look good in any situation with just a few tips. So let me take you through poor drop. First of all, if I can give you a piece of advice, you can start from scratch and redo your whole wardrobe. He can build it up with a few items, which are actually classics. You can combine them in a lot of ways, and they will suit for a lot of occasions. Another good ideas. When you build up your wardrobe, make sure that all your blouses or shirts or dresses or jackets they are faced in the same direction as you can see here. All the jackets are in the same direction, so they facing in the same direction. This makes it actually easy. If you're looking for something to go through the pockets, for example, here you have the breast pocket, but you can also have the inside pocket. So if they're all facing the same direction, it will be much more easy to find something if you lost something? For example, a pen or maybe some money. Try to separate winter clothing from summer clothing. Now, if you have this base, obviously now, if you don't have the space, a good idea, for example, to put away your winter clothing is a space back now. This is a space back. It will actually suck out the year off the garments so that you have more place to put them into your wardrobe. Now you have to be careful with everything like fur or leather. Because, for example, when leather cannot breathe due to the fact that the air is sucked out, it will start cracking. So be careful. But these space backs are actually a very interesting idea, if possible. If you are detail orientated, try to color. Coordinate all your clothing from socks to shoes. Two shirts, two dresses you name. It's if you have a color coordinated, it will be easier in your mind when you open up your wardrobe. Another tip I will give you is to invest in this. This is a clothing brush. Now this clothing brush is not only to take away all sorts off little things on your clothes No, it's actually to give a good Rupp on your clothes. Why? Well, because the fabric will lift itself, and by lifting itself, it will air much more and much easier. When you wear, for example, a suit or maybe a dress, try not to wear it two days in a row. I would really advice to brush it with this clothing brush and put it in an area where you have a bit of air. Don't put it straight away into the closet because the sweat you have built up over the day will actually mingle with all the other clothing in the covers. So try to avoid that you actually know what dry cleaning is. Do you know how the process works? Actually, the work kind of tells you what it iss. It's cleaning clothing dry. There is no liquid involved. Well, to be honest, there is, but the liquid is turned into a gas and that gas, which is chemical. Obviously that gas will go onto your clothing and with the chemical reaction, take away the stains off course there. There are a few other steps, but that's the main idea. Now a lot off people will put their clothing into dry cleaning to be cleans, and that's that's good. But the thing is, it will soften, and it will damage your fabrics your shirts, For example, they will deteriorate much quicker than when you wash them on the normal washing machine. So if you need dry cleaning, do it only if you really have to. The trick with stains is whenever you make a stain, try and treat it as quickly as possible. For example, if you have a stain on a tie or a scarf, try to clean it immediately. Most of the times if you have natural products like maybe I dunno wine or tomatoes, etcetera. You can take it away with the basic thing. When you pick up your clothing from the dry cleaning, always make sure that you let it air a good time. And I mean by that sometimes it's wrapped in plastic. Take off the plastic, hang it outside, covered. Of course, if you can for at least 24 hours, why? Because because these chemicals, they contain solvents. It's like glue and all that glue. All those solvents, those chemicals. They have to actually go away because again, if you put them into your cupboard, they will mix with all the other clothing, and they will damage that fabric as well. Let me give you a not a tip in terms of etiquette. If you have a well made suit, you will see that the buttons can be opens on the sleeves, especially bespoke buttons will have this. The right etiquette says that when you wear a suit, the first button should be unbuttons. If you were wearing a jacket on, let's say a jeans, then you should open to, because that will be leisure time. 16. Day to day operations: okay on to day to day operations. The next piece in the business plan that you should be writing about, Um, for example, stuff. How many will be on service? Where will be the staff room? Etcetera. Um, it's very important to write about your stuff from the beginning because, like I said, you can't do anything without stuff. Um, maybe you can write about your chef who he or she will be assisted by. Um, you can also write about the front of house. Who will help. For example, the maitre d will be the front of house manager. How many part time busboys will you have? Etcetera? Um, what do you forsee as training? How many per year? What will be? Will people be trained then? Very important as well. But we'll go into all of these details from the business plan later. Wrong in the course. Because this is just a no overview right about daily operations. How will daily operations be run? Who will be the driving force? Will that be the restaurant manager? Is there a restaurant manager, etcetera? Customer service. What sets you apart in customer service Is there, for example, of family parking Do you foresee special services? I'll give you a small hints. For example, if people put their jackets in the wardrobe, he can brush him down. That's an extra service you can give. It's a very nice one. Um, what our suppliers? How will suppliers find their way in this plan? From what time to what time can they deliver? What can be considered to make them efficient and cost saving? For example, one delivery per week on you can negotiate the price, etcetera, so that, as well, needs to be described in your business plan. Um, any other administration procedures? Will there be a daily book, it bookkeeping? Who will bring the money to the bank, who handles staff rosters on a daily basis, etcetera. So all that should be described in this part of day to day operations. 17. Funding, what do we need: Okay, great. Welcome to the second point from the funding face. If you came this for that means that you made it through the planning face. So your business plan should be Well, let's say moral is done, so we'll move on to funding. Um, and in funding, it's all about being creative. Yes. Um, you need to find the money. Maybe you have the money, but maybe you need to find the money. So what do we need to do? Well, first of all, we need to make an overview. We need to make an overview off what we need. I showed you that early Iran, and you have to calculate your break even. Okay, good. So the sample capital requirements, that's what you will need the sales forecast and the labor cost. OK, good. We all have that now. And the thing is, now that we need to find the funding, these documents are really, really crucial. Because why people like banks and investors, they want they want to see that. You really thinking about your business. So if you go into a bank and you say, for example, you Hello? I need a $250,000 loan. Can you give it to me on the ask you a question, for example, What's your break even point in terms of covers and you don't know it? Well, I'm not sure they're gonna take you serious. You have to know every little detail about your business to get fun. It It's not only about the numbers, it's also the logic that's behind it. If you say, for example, my labor cost for my meter D is gonna be 65 hours. Ah, week and it's gonna cost me 28 dollars per hour amounts to x amount. They will ask you, Why is he doing 65 hours? That's huge if you don't know the answer to that. And the obvious answer is that you will have maybe two Major D's or a major D and on a waiter for filling his stocks tasks on other points of the day, you have to know the answer, and it's always a logical one. It doesn't have to do it numbers. The numbers are the Well, yeah, the proof of that. You know what is going on on the floor? So with these things, you should be able to, um, foreign funding and we'll talk in a minute on how to find for me 18. Funding, growth & exit: okay, we've gotten so far. So now let's have look at the following analysis. This is also a piece of the business plan that you should be describing. First of all, the source of the funding. So where does the money come from? Um, loans, friends and family savings. You name it. We're gonna look at funding much more in detail later on in the course. But don't forget to mention it into your business plan. Um, do you plan on attracting investors, for example? Then you should consider a necks it strategy that as well we will be discussing for the wrong in the course next to funding analysis. There's something else that we have to think about. I know that you're just starting your restaurant, but how do you see it? So let's talk about growth and exit. Do you see one restaurant operation? Do you see a bigger future, maybe a chain of restaurants? Um, so you should talk about your expansion plans and think about the investors as well. What if they want to step out? Or what if the investor keeps backing you, but you need to this need additional farming. What will the shares be like, Well, the investors get more shares or you put in money so that those are all things that you have to think about. Like I said, we're gonna go into this much deeper just in a little while. 19. The financial plan: And now last but certainly not least is the financial plan. Um, this is actually what investors want to read and what banks want to see. They, of course, want to know how much money will come in. How much money will go out if you are making a profit. If you're making a loss on how credible is your business plan, it will all depend on your financial plan. So a few questions to answer is, for example, how will you use cash? Um, when cash comes in will use it to pay suppliers. Were you put in the bank, etcetera, etcetera. And how will you handle cash? Do you have special administration for that? So those are things you have to describe into your financial plan? What else? The start up costs. We talked about that already. I showed you the overview for like, the first month of rents, which you will need the first capital to buy your groceries the the first month off. Pero so those are all things that you have to project as well in your financial plan. Um, another very important one. Its sales forecasting, um, and sells forecasting is based on what you think that you will sell in the well, let's say the coming year. How many people will come to lunch? How many will come to dinner? Um, how much will they spend? Etcetera? Um, another one. This is not income, but this is outgoing. Is your hourly labor, as I told you were in industry, which is very intensive in terms of labour, people work lots and lots of hours, and it could be very, very costly to you if you don't watch what you're doing. So I'll show you how to calculate the labor and how to avoid the biggest pitfalls. And you also have to write about your break even analysis. So on one side you have the costs on the other side, you have the income. Of course, the income needs to cover the costs. But there's a certain point where you start making a profit. And that's called to break even analysis. In this sport off the business plans for the financial plan, I just want to go in deeper into sales, forecasting, hourly labor and break even analysis. So I made up a few spreadsheets that I want to show you, and well, let's go through that right now. And you, uh you understand better. What? I mean 20. Business plan overview: Okay, so this is or this could be a complete overview off your business plan. Purpose of this business plan 0.1 introduction that good Does that could be your executive summary. It's how you like to call it, um, Second keys to success. What you will do to make this a success? Um, number two. Giuseppe's. So all about the restaurant. You can divide that into about us, our history and the team that will be managing and managing it. We talked about that. Maybe list your products. That's always a good one. Beats us past the steak way eventing. And I have, ah, small text about that as well. Marketing. We talked about that a lot of small. So the analysis the market needs to competition with the competition analysis, SWAT analysis. Do you remember what it means? Strengths, weaknesses, opportunities and threats. That's also a good one to remember. Sales forecast with the big one on that and the use of the branches, for example. Something else you could you could add, um, timeline. That's another big one. You want to put down some milestones in your business plan, For example, after one year, we want to expand the kitchen or, ah, we want to attract at least 500 people for our take away etcetera. Write something about the vision investors and banks. Lawful visionaries, maybe puts him innovative things in there. Um, partners could be another one. If you partner up with a company, a supplier, you name, it's. And of course, the financial plan is a very important one. So this is a brief overview off what the what the business plan could could look like. Um, if you need any more information, you can always send me a message, a more than willing to to assist you in any way that I can on. I think that this business plan well, shouldn't have any more secrets for you at this point. So I wish you the best of luck. And in the next next point, we'll have a look what happens to people that don't have a business plan 21. The 8 main reasons of failure: The fact that you are choosing to follow this course means that you're really serious about your restaurants. But I want to show you the eight main reasons where most restaurants are failing the big pitfalls. I'll walk you through it so you don't make those same mistakes. First of all, a lot of people don't foresee enough capital in the start up face. Starting a restaurant is very cash intensive, so make sure that you have enough capital or that you budget enough. Second, obviously bad management. You have to guide your team. You're actually more than a coach. If you choose not to do it yourself, you need to get someone in to do it for you. But you always have to have ah have an IR out for what they are doing. So be really, really careful about that. It it's all about people in this industry. Um, next food and service. Not on a constant level. This is a very important one. The thing is that why do you think that a tree store Michelin chef has always good reviews and and has a lot of success because they're quality off service and the quality of food is always at a constant level. There are ways to ensure a constant level off quality, but we'll talk about that just a bit later. Next money value offer is not in line with client expectations. You can't sell a $50 steak, which weighs about 100 grams, so you have the expectations of the clients and the money value of offer. Have to correspondent correspondent um lacking eye for detail? Um, well, it might. It might sound a bit crazy, but you have to have people there that work with you that have an extreme eye for detail when the place is dirty, when there's a sign that's not right, etcetera, etcetera. And I must say that a lot of women have this eye for detail much more than men do. So watch out for that. Certain fixed costs are too high to to start from. This is typical. You got a lot off sales people coming over. They want to sell you, for example, a machine that vacuums the wine so you can serve it by the glass. But it gives you a fixed cost, for example, or rental per month, and it's way too hard to start from. So be very careful dreaming too big. That amazing kitchen. Everybody wants a full equipped kitchen. Be careful about that as well, because it would cost you a lot of money. And you can always expand. Shrinking down is a much more difficult. OK? And last but not least, not willing to listen to experience. Experience is the only one that you have to listen to. If you have people in your team that have a lot more experience than you do on day tell you , for example that were that won't work. Please, please, please listen to them. You will. You will see it in the end. If they were right, they were right. If they were wrong, you can you can fix it. So, um, read these main reasons and go for it. 22. Licenses and permits: right. Just before moving to the building face, we're gonna end the funding face with some legal considerations that we have to take in mind, which are licenses and permits. I know it's a hassle, and it's quite a bit of administration. But you need to be in order because if you have officials coming over and you don't have them, it can cost you a lot. A lot of money. So when you open a new restaurant, some of the required permits or licenses are the same. As for other retail businesses permit requirements and fees, they can vary by city by county and state or even by country. Because food and beverages are prepared and served on the premises of restaurants. Additional permits are required to protect the public health, so in some instances, management or employees of the restaurant must complete classes before obtaining necessary permits. But let's have a look at a few of the permits. First of all, you have environmental permits, for example, for Greece disposal waste management. You will have a lot off cardboard from packaging, so you need a permit for that. Um, next, you need a food, food, health permits, you can get that from suppliers. For example, when they supply meet, there should be a certificate with the meat with the origin in certain countries. Alcohol licence. Better loan as, ah, liquor license. A restaurant needs a liquor license issued from the state if it sells wine, beer or alcohol. Um, these licensing can The requirements can vary by state. Also, the feast, Um, normally a beer and wine license cost less than a full liquor license on the restaurant's liquor license. Cost less than a bar license. Some states require the licensee to complete a liquor course when obtaining a license, but that you have to check with your city or county or country. If you will. Music. You need, of course, the right licenses or permits to play music. Eso the authors get the rights paid. Um, what else we got? News? ERM, excuse me. Fire safety. Obviously, city and fire. In some instances, the restaurant might also need additional permits from the building department, requiring the building to comply with applicable building and safety coats on Do you might need a possible permit from the fire marshal or fire department. They will come and inspect the premises and look at any required fire prevention system. For example, in the kitchen business license, that's another one. This process normally involves the restaurant owner completing a business license application and paying a fee. Um, in the States, you can also have a resell permits, which allows the restaurant to charge and collect the required sales tax from customers. Building health permit. That's another one that you might need to see if the building is in good shape on and in. Some countries have seen that you need permits to show that it's ah, well isolated. So that's again towards environment and you need finally a permit for, um, please health permits. They have to be checked, Let's say every six months or once a year so that they're in good health and that you were doing the necessary things to prevent accidents, for example. So let's move on now to the building face, and that's where the fun happens. 23. 3 week checklist: we're coming closer and closer. Three weeks to go. What you be should be doing now is informed the press again. Make sure that everybody's up to speed Europe US training for your team. Is that okay? Um and of course, for yourself as well, because there are some manager function functions in POS systems. Is all staff in place? If not, keep recruiting. Keep recruiting. Don't stop. You have to have your complete team by opening nights. Um, create an overview of all necessary safety systems like the alarm fire plan, etcetera. Make sure that that's okay. Start training, bore staff. Get some cocktail experts in on Scout the area for suppliers. Think about general safety. Look down procedures, zoning off the back of house and keys for stuff. That's also something that should be done. You can divide the back of house in zones and have different people assigned to different cells. Okay, two weeks to go. It's getting more and more hectic off course, but all material should have arrived by now. You should be testing all machines and equipment and look for shortages. If you have, for example, your glassware coming in and you don't have enough or they made a mistake. So have a look at that. Finalized the first order for old drinks and food Eso that that can start coming in and liaise with your chef and start up. Start to setting up of your dining room as a test. And I just put in a treat for you. I got to show your movie. As you know, I'm the managing director off the school for butlers and hospitality, and I got a time lapse video off dressing a table, and this is actually a video. Just have a look. So you can see here several Buttner Butler's dressing the table. What you will see in about 30 seconds is a table being set. And it takes in real life about one hour and 1/2. As you can see, they're completely measuring all the plates. I running the tablecloth, putting everything absolutely straight. They are measuring all the cutlery, having ah symbol fault in the napkin. But at the ends off the exercise, it looks absolutely stunning because everything is straight as an arrow. There you go. That was just a treat for you just to have your relax because we have one more week to go. At this point, you need to go over all interior details with the people surrounding you. Start organizing deep cleaning. So that means that everything has to be spotless. Start making opening night event sheet. We'll talk about event sheet just a bit later on. I'll show you how to organize that. Get the plants in if you have chosen to have plans. So that's one week before and weaken. Continue on straining staff on making sure that the team is up to speed on everything the last week. Okay, here we go. The ribs are racking up window cleaning. Don't forget that one. And luckily, you already have your company. Because that's what I told you. Ah, a few weeks ago. Start inventory. You should have starting in the Wintory so that you can make it up every week and see what is selling. Don't forget to get change money from the bank. This is a classic one opening night. People want to pay. You don't have any change, so make sure you go to the bank, invite friends and family four days before opening as a test run. Very, very important. Your stuff is allowed to make mistakes, but you will see where the problems will be. So this is in the last week. 24. The launch of the restaurant: Okay, This is it. This is the super Bowl of your project. Opening your restaurants. We have done all the phases and the last one preparation that's gone as well. So now we're gonna open your own restaurants. Here we go. The launch of your restaurant. It all comes together now. So the first question you have to ask yourself, Are we gonna launch the restaurant? Soft or heart? You're probably thinking, What do you mean soft or heart? I'll explain a soft launch. That means that you open the restaurant and you don't make a lot of noise about it. The pros there. Well, the marketing is cheaper. Obviously, you don't announce it that much. You can try things out. If you open a restaurant silently and there are some problems to attack, you can try them out and change them really quickly without having too much people in the door. The count's you're gonna get less people in the first days. But if you have calculated that that's not a problem, and of course you're gonna have missed revenue. On the other hand, if you want to make a lot of noise about it, because I guess you're going to be proud that you're opening your restaurants. You can do with a hard launch. Ah, hard launch as pros has the bus can spread, so it's going to go a lot faster. You're gonna have lots of people in the first day. They supposed to the soft launch, obviously. But it's easier to make mistakes, especially when you have customers coming in for the first time. So your first impressions are crucial. The thing is, if you do a hard launch, you can make any mistake. And getting the staff right is also something which is difficult. Why you don't know how many people that will come. You won't know how hard it will be. I told you before that you might be investing an extra stuff during the launch. And this is a This is true with a hard lodge opening week. This is its opening week. I hope you're not listening to this during your opening week because you should listen to this weeks and weeks before anyway, the opening week. Like I told you, you can do it also hard or soft, not only opening day, you can do it a soft weak so that you can see what happens, or you can do it a as a heart opening and make a lot of noise about your opening week. Try and launch a one week deal. This is, for example, during a heart opening, people will get in more easily take action on the things that don't work right from the beginning. If you see that something is off, you need to act on it straight away, for example, the pos system and doesn't work. Get your supplier on the line. Get them to stand next to you during a service because you got to get it right. Fridges are falling out. Electricity is not working. Have it fixed. Your chef has a problem. He needs something. Have it fixed. It all needs to be done within 24 hours. You cannot make any mistakes and especially not an opening week. Don't wait till the week after to it straight away. Opening night nerves are racking up. It's not une evening like it will be on a normal evening. Trust me, I've done many of them and you can see that people come in and they want to see everything . What is new and it's a bit. It's a bit normal. Okay, I'm gonna give you a big good advice. You have to get professionals involved now. What do I mean by that? You have a lot of professionals like if end cos they can give you a real boost in opening week or opening night. They can help you with organizing the event because opening your restaurant is more than an event. It's absolutely making your identity from the very for first minute that you open that door , so get them in.