Restaurant Budgets for Real
Why is a Budget So Important for your Restaurant Operations?
Does the mere thought of writing a budget make your head spin and your heart beat with anxiety? Do you sit down to work on a budget only to find yourself involved in distracting activities – doing anything but focusing on your financial plan? Well, you’re not alone.
Most independent restaurant owners use their “gut” to determine a budget for their restaurants instead of using real numbers. I’m here to tell you this is just not enough.
Your budget is a guide to success and ultimately towards profitability.
A budget is a document that keeps you headed in the right direction. Sure, you’ll make some missteps that may have to be corrected. Sure, you’ll encounter some unexpected events and expenses that will throw your budget off course. That’s normal. That’s business. Frankly, that’s life.
But without a budget, how do you know what to aim for, what goals to set? How do you know when you’ve exceeded your goals?
A budget will help you recover from unexpected road blocks and plan for potential challenges.
But the number one reason you should create a budget for your business is because it allows you to plan for profitability!
You probably get up every morning with the idea that you want to be profitable. But what kind of roadmap do you have to guide you there?
A budget is your map on the journey to profitability. It determines what you need to reach your goals and how to get you to your destination – successfully.
Once you have a budget, you won’t have to rely on your instincts and guesses anymore.
Erase your fear of budgets today and take control of your restaurants’ financial future.
So with that being said, what scares you about creating a budget?
David Scott Peters is a restaurant expert, speaker and founder of TheRestaurantExpert.com. Rather than focus on cheap thrills and destructive restaurant marketing tactics, he specializes in teaching independent restaurant owners how to use systems for increased sales and increased profits. He is the nationally acclaimed restaurant coach whose unique “SMART Systems” approach to boosting profits has earned him the title of, “The man who can walk into any restaurant in America and find $10,000 in undiscovered cash before he hits the back door – Guaranteed!” Learn more tips, tricks and secrets in David’s free weekly e-newsletter, “Instant Action Systems.” Simply sign up to receive the e-newsletter at TheRestaurantExpert.com.