Tag Archives: restaurant business plans

A Restaurant Business Plan is Paramount

The cornerstone of a restaurant business plan is the development of the business pro forma — without one, the concept and business becomes a moving target. Moreover, as an owner you are reacting to financial matters as opposed to planning for them. This is not how you want to run your new business.

Restaurant business plans create a clear and concise road map of the vision and path to financial success. The restaurant business plan clearly defines your brand, culture, standards, unique characteristics of your restaurant and how you plan to create an emotional connection with your internal and external guests. Moreover, it states why you will be successful given the demographics, competition within the market and location.

Read on: The importance of the restaurant business plan

Advertisements

What’s the reason that restaurants fail?

The prospect of owning and operating a successful restaurant is a dream come true for many an entrepreneur, but unfortunately, it may feel as distant as far-off dream those who are actually struggling. You’ve heard the varying (and often scary) statistics – that a large percentage of restaurants fail within their first year of opening.

Read more: why do restaurants fail?