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The Tip Share

103 EpisodesProduced by RASI - Restaurant Accounting Services Inc.Website

A Restaurant Industry Podcast


How to Start a Restaurant - The Ultimate Financial Plan

You’d like to know how to start a restaurant business but are not exactly sure where to begin. You want to start a restaurant and you create the ideal concept in your head. That concept begins with the idea at its inception. However, for your idea to survive, or even better to thrive, it must operate on a consistently executed financial plan and a sound restaurant business proposal.

50% of the restaurant concepts we see are largely “inspired” by existing operations. Beyond this, 85% of your food and supply purchases will be delivered from the same major distribution companies. So then what is it that makes your new restaurant stand out? What makes the experience like nothing we’ve ever seen? Unfortunately, the reality here is that without a sound and detailed financial plan and a commitment to following it, 75% of restaurant startups will be bankrupt within the first 24 months. So let’s take a look at what makes up a great business plan for a restaurant.

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