Bankrupt Restaurants

There are many ways restaurant owners can avoid becoming just another bankrupt restaurant statistic.

Here's and interesting statistic: Most restaurant bankruptcies occur by the second year of business operations.

Financial incompetence is the number one factor leading to bankrupt restaurants. Having a sound business plan in place and having access to sufficient funds are necessary for the survival of a restaurant. Therefore, revising and keeping a close tab on your business plan along with carefully managing your cash flow may help keep your business from becoming a bankrupt restaurant.

It is very important for restaurant owners and managers to acknowledge if there are any problems with their business. Avoiding or denying there is a problem, big or small, can be detrimental on your success as a restaurant owner or manager. Taking care of problems as they arise can put you on target for success.

Pretending that problems don’t exist can lead to becoming a bankrupt restaurant statistic.

Three additional factors that contribute to bankrupt restaurants include lack of management, lack of employee training, and lack of employee supervision. Therefore communication is key to a thriving restaurant. Communication among management and employees is an important part of keeping your restaurant on track. Another step towards a thriving restaurant is implementing an ongoing retraining program so employees become refreshed with the knowledge of how things should be done.

Being open to feedback from employees and customers can also help keep your business from becoming a bankrupt restaurant. If either customers or employees have concerns or complaints, listen and acknowledge them. This will prove you’re not just out for success for yourself, but you care about them and their well-being. Therefore, your employees and your customers are happy, and your dream of having your own restaurant can stay a reality.

Unfortunately, there aren't any college courses on "How To Start A Profitable Restaurant". (And if there are, they are probably taught by someone who's never owned a restaurant!) The statistics don't lie. Most restaurants DON'T stay open a year! I got extremely frustrated seeing unsuspecting new owners lose their dreams (and their shirts). Sometimes it's just a lack of good information that causes their businesses to fail and a great amount of personal heart break!

I have written a special email report in hopes that it might stop the growing statistics of new restaurant failure. So, before you spend your hard earned money acquiring and opening your restaurant, I urge you to read my FREE report "The Restaurant Industry's Dirty Little Secrets. Get your copy of this report today click here to get your FREE report!

There are a lot of successful restauranteurs. There is a HUGE number of well meaning, hard working rookie restaurant owners who simply aren't aware of the "insider secrets" to creating a profitable restaurant. One particular event caused me to sit down and write out this information. To read more about the event click here

Today's Independent Restaurant Business Tip

for . Many owners obsess with coming up with the perfect restaurant name. Unless you are politically incorrect or crude your name is not going to make or break your restaurant. However, there have been many operations open, order glasses, uniforms, menus and promotional items only to receive a nasty "cease and desist" order from a lawyer. Make sure you research your restaurant name. It is surprising how many restaurants are forced into the costly procedure of changing their name in the first few months. This costly mistake can cripple your operation. Get your lawyer to check and register your name!

Testimonial

I know that you get emails all the time but I had to write anyway. I don't believe in coincidences. The day after reading your ideas I found exactly the situation that I would have normally overlooked.
I'll let you know as things progress but I believe I've found my golden goose!
You should charge more than you do for your book, your information is of great value to me/anyone looking to start their own restaurant.
Thanks so much
(I'll email you my results soon)
Tannis Laughlin