What every restaurant owner should know
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March 16th, 2006
As all restaurant veterans know, foodservice is a
business that is very unforgiving when it comes to achieving
bottom line profits.
Not only is there little room for financial missteps, the problem
is often compounded by the lack of business experience and basic
financial skills that most start-up restaurateurs bring to the
table.
Other small businesses employ a full or part time financial
personnel, but most restaurant owners cannot afford such lavishness,
and jump from one operational task (or crisis) to another –
with the financial management of the business often not receiving
the attention that it requires.
Have a think to yourself, what were the last three things you
did to increase your restaurant profitability? For tips by Editor
Paul Stowers, see the March edition of the industry’s favourite
read – FoodService magazine.