2 articles to help your business succeed
Financial projections demonstrate your business's potential to lenders and guide operational decisions. Learn to create realistic forecasts.
You've found the perfect location. The lease is reasonable, the foot traffic looks promising, and you can already picture the tables full on a Friday night. Then your bank asks for a business plan, an...
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Why do bank managers reject restaurant plans? Not the food concept: the numbers. Your restaurant financial projections are where funding applications succeed or fail. Banks reject plans where the numb...
Most lenders want to see 3-5 years. Year one should be monthly detail, years 2-3 quarterly, and beyond that annual. The further out, the less precise: focus detail on the near term.
Revenue forecasts by service period, food and labour cost percentages, fixed overheads, break-even analysis, and cash flow projections. Lenders want to see you understand seasonality and can handle quiet months.
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