restaurant budgeting tips

Restaurant Budgeting Tips

Financial Planning is critical to the success of any restaurant business

Restaurants are one of the most difficult businesses to succeed with.o More than half of all restaurants fail

within the first year. o 9 of 10 restaurants have fewer than

50 employeeso 8 out of 10 owners start in entry-

level positions and learn on the job

Tips for Better Budgeting® Account for everything® That includes grease removal and

other cleaning services® Set the stage by spending where it

counts, such as on dishes and silverware® Consider used equipment for your initial investment

More Budget-Friendly Tipsfor Restaurant Owners

1. Evaluate your competition

2. Evaluate the economy

3. Evaluate your business

4. Compile the data to assist in creating a functional budget for your restaurant

5. Don’t forget payroll and other operating expenses!

6. Use budget worksheets and templates when you can

® Saves time and hassle® Gives valuable insight about

restaurant budgets

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