A New Restaurant

Today’s a travel day for the family, but I wanted to make sure I took the time to wish everyone a very Merry Christmas.

I just wanted to take a minute to thank you for coming to A New Restaurant over the last several months.  It has been a pleasure writing for you, and to hear from you from time to time.  I am looking forward to the coming months and years, and getting to know some of you even more.

I have some ideas for some posts that I’m sure you will find interesting, and hopefully will help you to be more successful in your restaurant ventures.

Have a Happy Thanksgiving!

Jim

Whether you’re starting a new business or trying to raise additional financing for an existing business, you need a good business plan. Most entrepreneurs know this, but still, a lot of them get it wrong. Here are 10 of the most common mistakes people make with their business plans.

      1.  The One-Size-Fits-All Business Plan

There are quite a few computer programs designed to make writing a business plan easier. The problem is, they also make it easier to write a cookie-cutter business plan. This isn’t a knock against the software; the problem is with the user. (more…)

One thing to consider before you open your new restaurant, or any business for that matter, is how well you understand what you’re getting into. I’m not talking about general business knowledge. Yes, we understand that starting a new business means long hours. We understand controlling labor costs and keeping a close eye on inventory. Those are things that are common to most businesses. What I’m talking about is an understanding of the things that make your industry unique. (more…)

As I wrote before, choosing the right location for your business isn’t an exact science. It all boils down to knowing who your customers are, and what they want. It’s about being there to meet their needs.

The Rocking Horse Bed and Breakfast

Several years ago my wife and I were driving down a back street of one of the towns in our area. Nestled in the midst of an older neighborhood was a sign for the Rocking Horse Bed and Breakfast. I remember we talked at the time about what a bad location it was in, and that I didn’t think it would survive. Sure enough, it wasn’t much later that I saw the Rocking Horse was for sale. (more…)