restaurant budgeting tips
TRANSCRIPT
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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