Since the Great Recession, we’ve seen over 10 years of economic expansion. That means there are a lot of successful operators out there who have never known anything but good financial times. But they’re like the doctors who graduate from medical school without a business course – they’re missing a big piece of what … Continued
Month: January 2020
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“Why isn’t my restaurant making 20 percent?” I hear this plaintive cry from many frustrated restaurateurs who have heard about that number and – since they’ve heard about it – think they must be entitled to it. Some of my clients’ own restaurants make over 20 percent, or even 25 percent or more. They … Continued
You’re out over your skis – going too fast and getting ahead of yourself. You own a successful independent multi-unit restaurant group and your ability to sign leases is outpacing your organization’s ability to perform. Future projections? Dazzling. But you have zero track record at the forecasted level to support them. The Difference Between Praying … Continued
Welcome to the 2020s! If you want to make outstanding business decisions, you need to know what’s coming next. So, what will we be dealing with over the next 10 years? I have a few predictions. 1. Rent and Food Delivery Expenses Will Go Down The 2010s will be remembered as the golden age of restaurant … Continued