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Business Plans for Restaurants - Pitfalls

Business Plans are required in virtually every request for financing, bank or otherwise.  

In his article for Modern Restaurant Management entitled, Don't Let Your Business Plan Work Against You, David Sederholt writes :"The business plan I just received was seeking $400,000 in financing and was filled with superlatives about the location, concept, market and management. I am sure that the folks were sincere, but their plan made me think they were either inexperienced, naïve or intellectually lazy. They would not be able to convince potential lenders or investors that they are solid professionals who can run a great restaurant and pay back the debt. "


 

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This post first appeared on Ascend Business Brokers, please read the originial post: here

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Business Plans for Restaurants - Pitfalls

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