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Guide summary
- Writing a business plan is the first mandatory step before opening a restaurant in Spain. This document is your internal roadmap and the main argument for convincing banks and investors to finance your project.
- A good gastronomic business plan includes an executive summary, a team presentation, a general project description, the commercial strategy, financial forecasts and appendices.
- You don't have to write your business plan alone. Accounting firms, Chambers of Commerce and the Spanish Hospitality Federation can support you.
Table of contents
With more than 308,000 hospitality businesses in Spain, competition is real and the margin for error is small. Before finding the perfect premises, designing the menu or thinking about décor, there is one step you cannot skip: writing a business plan for your restaurant. This document is the map that guides your project, the tool that convinces banks and investors, and the proof that your idea has a future. What should a gastronomic business plan include? How do you structure financial forecasts? Covermanager guides you in creating your gastronomic business plan.
Key figures
- +308,000 active hospitality establishments in Spain (restaurants, bars, cafés and accommodation) (1)
- 166,211 M€ in turnover generated by the Spanish hospitality sector, representing 6.7% of national GDP. (1)
- The hospitality sector in Spain employs 1.85 million workers, making it the fourth largest industry in the country and the engine of tourism employment (1)
- 38,015 new hospitality businesses were registered in 2023, versus 34,247 deregistrations. A positive balance of +3,768 businesses, a sign that the sector continues to attract entrepreneurs (1)
What is the purpose of a restaurant business plan?
Writing a business plan for a restaurant is not just a requirement asked by the bank. It is the exercise that forces you to think about everything: the concept, costs, competition, customers, the real viability of your project. In short, it is the document that transforms an idea into a business.
A restaurant business plan fulfils two key functions:
- An internal function: it gives you an overview of every aspect of your future business (commercial strategy, legal structure, financial forecasts, team organisation).
- An external function: it is the indispensable document for securing financing. Banks, private investors, potential partners… everyone will ask for a business plan before committing their money. A well-documented restaurant project conveys seriousness, maturity and financial solidity.
Important: the business plan is drawn up after completing the market study and feasibility study, and once the legal form of your establishment has been chosen. If you have not yet done these steps, now is the time to start there.
What should a restaurant business plan contain?
A good gastronomic business plan is between 10 and 20 pages (excluding appendices). Not more, not less: enough to be comprehensive without boring the reader.
1 - The executive summary
The executive summary is the cover letter for your project. In 1 or 2 pages maximum, it summarises the key strengths of your restaurant, its value proposition and why it has potential for success.
It is the first thing an investor will read, and sometimes the only thing if they are not convinced. So, although it goes at the beginning of the document, write it at the end, once you have the entire plan structured. That way you can highlight the most important aspects with perspective.
2 - Team presentation
Investors do not only finance ideas, they also finance people. This section should introduce the entrepreneur leading the project and the key people accompanying them: partners, head chef, front-of-house manager…
The goal is to demonstrate that the project is in the hands of a qualified team with complementary skills. This section includes:
- The professional background of each person
- Relevant qualifications (diplomas such as the Higher Technician in Catering or hospitality vocational training - VET)
- The role and responsibilities of each member within the restaurant
There is no need to write a full CV. Just highlight what is directly relevant to the project.
3 - General description of the restaurant project
Here you describe your restaurant as you envision it, with enough detail for an outsider to understand exactly what the project is about.
It must include 3 main sections:
- The genesis of the project: How did the idea come about? What experience or motivation brought you here? An authentic story connects better than any technical argument.
- The concept: What type of restaurant are you proposing? In Spain, the market offers a wide variety of formats with their own dynamics: tapas bar, gastrobar, daily menu restaurant, chef's restaurant, themed restaurant, franchise… Also describe the type of cuisine, the atmosphere and your differential value proposition.
- The target clientele: Who is your restaurant aimed at? Families, tourists, professionals at lunchtime, food lovers…? Define your ideal customer and the habits that justify your proposal.
Here you can mention the most suitable legal structure for your project and justify the choice.
4 - Commercial and economic strategy
This section explains how your restaurant will operate in practice and how it will generate income. This is where you show you know your market. It must include:
- The offer: describe the dishes, drinks and services you will offer. If you have signature dishes or a differentiating proposition, this is the moment to highlight them. Also include additional services if any: delivery service, private events, daily menu, weekend brunch, …
- Pricing policy: average price per cover, average ticket per customer, possible menus or promotions, define your price range.
- The premises: describe the chosen location, its size, its capacity and its key strengths. Location is one of the most determining factors for success when setting up a restaurant in Spain.
- Communication strategy: describe how you will attract and retain customers. Include your main channels: Google presence, social media, online booking platforms…
- Market study conclusions: summarise the key data from your previous analysis (current situation of the sector in your area, direct competitors, existing demand, market segmentation and chosen positioning).
5 - Financial forecasts for the restaurant
Financial forecasts are the most important part of the business plan for a restaurant. This is the section that banks and investors will read most carefully, so it must be rigorous, realistic and well-presented.
Projected income statement
This is the central document of your financial analysis. It summarises, on one hand, all projected income and, on the other, all projected restaurant expenses. Its objective is to calculate whether your business will be profitable, and when.
On the income side, you will need to estimate:
- The number of daily covers based on the capacity of the premises
- The average ticket per customer
- Income from additional services (events, delivery, take away…)
On the expense side, the main items to budget for are:
| Item | Recommended % of turnover |
| Wages and social charges | 25% – 35% |
| Purchases and raw materials | 28% – 35% |
| Premises rental | max. 10% |
| Utilities (water, electricity, gas) | 10% – 15% |
| Marketing and digitalisation | 2% – 5% |
| Maintenance and repairs | 1% – 3% |
| Insurance and licences | 1% – 2% |
Important: in hospitality, the sum of staff costs and raw materials is called prime cost. If it exceeds 60% of your turnover, your economic model is in danger. A prime cost of 55% is excellent.
This analysis will allow you to calculate your break-even point (punto de equilibrio): the minimum turnover level needed to cover all expenses. This is an essential figure in any gastronomic business plan.
The income statement must be projected for the first three years of activity, with realistic scenarios reflecting the typical learning curve of any newly opened restaurant.
Projected balance sheet
The balance sheet is a snapshot of your restaurant's assets at a given point in time. It is divided into two parts:
- Assets: what the company owns (furniture, kitchen equipment, licences, deposits, stock, outstanding receivables…)
- Liabilities: what the company owes (bank loans, supplier debts, outstanding taxes…)
This document is fundamental for calculating working capital. It is the liquidity available to meet day-to-day expenses while the business gets off the ground.
Cash flow plan
The cash flow plan is drawn up for the first 12 months of activity and details month by month all the restaurant's money flows:
- Income: estimated sales, shareholder contributions, loans received, grants…
- Payments: rent, payroll, suppliers, loan repayment, VAT payment, utilities, insurance…
Golden rule: before opening, make sure you have at least 3 to 6 months of fixed expenses covered. The first months of a restaurant rarely generate the sales volume needed to cover all costs from day one. And cash flow is where many restaurant projects in Spain founder.
Financing plan
The financing plan details how you will cover all the financial needs of your project during the first three financial years. It must include, on one hand, the planned investments and, on the other, the available sources of financing .
In Spain, the main financing routes for opening a restaurant are:
- ICO loans (Official Credit Institute)
- SGR (Mutual Guarantee Societies)
- ENISA
- Private investors or business angels
- Regional grants
If you are thinking of taking over an existing business rather than starting from scratch, taking over a restaurant can significantly reduce your initial financing needs.
Here you can find a financial plan template for your restaurant
6 - Business plan appendices
At the end of your restaurant business plan, or in a separate dossier, gather all supporting documents that can strengthen your application. The most common include:
- Complete market study
- CVs of the project promoters
- Lease agreement for the premises or rental promise
- Articles of association and legal company documentation
- Certificates of confirmed financing
- Photos and floor plans of the premises, building quotes
- Draft menu of the restaurant
- Communication materials: logo, moodboard, mock-up of the future website
- Opening licence
- Food handler certificate (mandatory for all staff in contact with food)
- Health registration of the establishment
- Public liability insurance
- HACCP training certificate (Hazard Analysis and Critical Control Points)
- Terrace licence if applicable, with the corresponding municipal authorisation
Once your restaurant is open, having a reservation and customer management solution from day one allows you to build your own database, reduce no-shows and build customer loyalty from the start. An argument you can also include in your business plan as part of your digitalisation strategy.
FAQ
Can I write my restaurant business plan alone?
Yes, it is possible. But for the financial section, having a professional makes a real difference. In addition to administrative procedures, an accounting firm specialised in hospitality will help you with forecasts, tax arrangements and legal form. Chambers of Commerce also offer free or low-cost advice for entrepreneurs, and organisations such as the Spanish Hospitality Business Confederation have specific resources for new business owners in the sector.
What is the difference between a business plan for an independent restaurant and a franchise?
For a franchise, the franchisor usually provides a business plan template with reference data from the network (average sales, typical margins, occupancy rate…). The main differences in the financial section are the entry fee (which can range from €10,000 to €40,000 in Spain), periodic royalties on turnover and, sometimes, a contribution to the brand's marketing fund. In exchange, perceived risk is lower and access to bank financing is generally easier, since the business model is validated.
How long does it take to write a restaurant business plan?
It depends on your experience and whether you have external help. As a reference, a well-prepared business plan requires between 4 and 8 weeks of work, including the prior market study. Don't try to rush it. It is the document that will accompany your project during its first years, and it deserves the time it needs.
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