restaurant business plan

Restaurant Business Advisers: Worth Their Weight in Gold

Sometimes restaurant entrepreneurs feel like they have stumbled across an idea so good that they are nervous to speak with anyone about it for fear the idea will be stolen and executed by someone else. This is a big mistake.

In reality an idea on its own is worth very little and 99% of the people you might speak with about it are going to be so busy doing their own thing that they will have no time and no interest in pursuing your idea.

It is also often true that your idea either isn't as original or as good as you thought--especially if you are doing something in an area where you have no previous experience and so you are making assumptions which aren't correct. Most good ideas go through significant revision and take a long time before they arrive in their final form and the best way to get there quickly is by talking to experts in the business who can help steer you away from things that won't work and come up with solutions that will bring your idea into reality.

What you miss out on in not speaking to people about your idea is the essential feedback that you need to verify whether or not your idea makes sense, will be attractive to others, or has a realistic chance of becoming a reality. In the restaurant and bar industry in particular there are literally millions of people who have experience that can be valuable to you as a new restaurant or bar owner and there is no point in ignoring good advice from qualified individuals if you can get it to help you avoid mistakes and make more profitable decisions.

Having one, or preferably several experienced restaurant business or bar business people help you with your plan, your projections and everything else related to your startup will not only help you avoid mistakes but will likely also save you time and put you in a much better position to meet investors and convince your funding sources you are well positioned to be successful with the money they give you to open your restaurant.

Many times, having your advisers behind you can literally mean the difference between getting funded and walking away empty handed.


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