Before you start developing a new restaurant I always encourage my clients to begin by completing a comprehensive feasibility Study.
A Feasibility Study should focus on sales and profit projections. It also gives you insight into your expected ROI. Also, your Feasibility Study must include a complete market and demographic analysis.
The Basics should include: Capital Budget, 5-Year Projections, Break-Even Analysis, Cash Flow Analysis, and Return on Investment.
Your Feasibility Study is your bedrock to minimize risk and maximize your chances for success. Dont risk your investment blindly. Make the development of a Feasibility Study your first step to success.
About the Author
The advice in this article is based on over 30 years of experience consulting with restaurant start ups and existing restaurant owners throughout the United States. Every restaurant project is unique. If you would like to discuss your specific situation with Ron, please visit our Contact Us page or call us at 866-903-5875 to schedule a confidential consultation
