There is much truth to the adage, “if you fail to plan, you plan to fail”.
Annually, 60% of restaurants shut business after one and a half years due their inability to recover initial capital or to generate profitability. Many small business owners reported not having sufficient financial planning, or assuming their restaurant business would succeed simply because “customers said our food was delicious”.
Because of this, having a business plan is crucial, to ensure that execution of setting up a restaurant transitions smoothly and to also guide a business owner through the entire process.
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