Budget Planning

If you don't know where you are going, any road will get you there." For restaurant owners there are three "financial" roads, each leading to a different destination. The most preferred route is to take the road to profitability and success. Another, less desirable road is that which leads to break-even, or merely hanging on. But the most treacherous road leads to failure, and in some cases, financial ruin.Unfortunately, more than 60 percent of all restaurants end up on the most hazardous of these routes by their third year of existence. The vast majority of restaurant failures can be attributed, at least in part, to the absence of a plan or practical budget upon which decisions, accountability and actions are based.