Business Plan for a Restaurant: Advice from a Serial Investor, Paul Campbell

Business Plan for a Restaurant: Advice from a Serial Investor, Paul Campbell

I graduated as a historian I then became
an accountant I very quickly wanted to get into business and one of my first
clients was a fitness company I joined that business
and was running it by the time I was 27, grew that business out to about a
hundred locations across the UK and since then I’ve really loved the leisure
sector. The restaurant and bar sector in particular has been full of
activity and opportunities and that’s where I’ve spent my career. I get a
business plan today so I haven’t got time to read acres of pages. Get this
special thing about your project or your concept across quickly it’s really
important for me to understand the background of the people so once I’ve
understood what they’re trying to achieve with their business I really
want to understand them as people so it’s important to get that across
quickly as well and when I meet people I think they’re often surprised that I’d
spend about as much time talking about them as people and what they’ve done and
what their aspirations are what their motivations are as I do about the
concept or the business. Until you open you don’t know what you’ve got on your
hands and so the first restaurant the first bar is really testing the product
it’s testing your theory against what customers actually want to consume. And you can do all the research in the world you can do all the planning, you can have
the best people but until you open the doors you don’t know whether people are
gonna buy it or not so when I back a start-up I like the initial investment
to be pretty contained. I like the entrepreneur to be clever
about how they launch the first restaurant and that means being clever
with the property, being clever with the fit-out and I can give you examples
where we’ve launched restaurants for really quite small amounts of money, less
than a couple hundred thousand pounds, and once restaurants get established
they could be spending millions. Often I’ll meet people and they
they might have one restaurant or one bar and they’re looking to have 20 and 3
years it’s not going to happen so nobody’s ever expanded that quickly
successfully so I’m very suspicious of plans that are you know out there in
terms of their aspirations. So I prefer people who are very open honest
modest about their aspirations but realistic.

Comments (1)

  1. He was also at Pizza express and sold it for about ÂŁ300M, right?

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