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Restaurant Start-Up Profile

Restaurant Start-Up Profile

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Published by Rebel Shams

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Published by: Rebel Shams on Dec 22, 2009
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12/27/2011

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Restaurant Start-Up Profile
This report is a combined effort by the Illinois Institute for RuralAffairs and the Illinois Department of Commerce and
Economic Opportunity. IIRA, through a contract with
Katherine
J. Henning, compiled the material and conducted the analysis.DCEO printed and distributed the document.
Layout by Nancy Baird, Illinois Institute for Rural Affairs.
Published by the Illinois Department of Commerce and Economic Opportunity
620 East AdamsSpringfield, IL 62701In Illinois 800/252-2923 or 217/782-7500TDD: 217/785-0211Also available electronically on the Illinois Institute for Rural Affairs’ website (http://www.iira.org)
June 1999 (Revised July 2003)
 
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Table of Contents
SectionPage Numbe
Introduction and Purpose.................................................................................................................1Restaurants Defined.........................................................................................................................2Feasibility Study..............................................................................................................................2Market Opportunity.........................................................................................................................3Market Area of the Community................................................................................................3Economic Base of Potential Customers....................................................................................5Market Potential of a Specific Site...........................................................................................5Determine the Restaurant “Concept”........................................................................................6Pro Forma Financial Statement.......................................................................................................8Facility and Equipment....................................................................................................................9Facility Design..........................................................................................................................9Forms of Business Ownership.......................................................................................................10Sole Proprietorship..................................................................................................................11Partnership..............................................................................................................................11Limited Partnership.................................................................................................................11Registered Limited Liability Partnership................................................................................11Limited Liability Company.....................................................................................................11Corporation.............................................................................................................................12S Corporation..........................................................................................................................12Franchise.................................................................................................................................12Professional Resources..................................................................................................................13Bankers, Accountants, Attorneys............................................................................................13Business Plan..........................................................................................................................13Leasing....................................................................................................................................14Financing.......................................................................................................................................14Traditional Lending.................................................................................................................14Venture Capital and Business “Angels”..................................................................................15Legal Issues...................................................................................................................................15Registrations and Licenses......................................................................................................15Taxes.......................................................................................................................................16Insurance.................................................................................................................................17Advertising....................................................................................................................................17

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