Why is a Restaurant Budget So Important?
By David Scott Peters
Erase Your Fear of Budgets Forever
Does the mere thought of writing a budget make your head spin and your heart beat with anxiety? Do you sit down to start only to find yourself involved in distracting activities that prevent you from creating a budget for your business?
You’re not alone. Most all independent restaurant owners use their “gut” to budget their restaurants instead of the real numbers. I’m here to tell you that it’s not enough. Your budget is a guide to success. It points you to profitability.
A budget equals profits
A budget is the document that keeps you headed in the right direction. Sure, you’ll make some missteps that have to be corrected. Sure, you’ll encounter some unexpected events and expenses that will throw your budget off. That’s normal. That’s business. That’s life.
But without a budget, how do you know what to aim for, what to set as goals? How do you know when you’ve exceeded your goals?
Not only does a budget allow you to more easily recover from unexpected road blocks, a budget gives you the plan for overcoming them.
But the number one reason you should create a budget for your business?
It allows you to plan for profitability!
You probably get up every morning and plan to be profitable. But what kind of map do you have to get you there, to guide you?
A budget is your map on your journey to profitability. It determines what you need to reach your goals, to get you to your destination.
Once you have a budget, you won’t have to rely on your instincts and guesses anymore.
Why wouldn’t you create a budget?
With a budget in hand, you will be the master of your restaurant’s future!
David Scott Peters is a restaurant expert, coach, trainer and speaker, specializing 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!” Visit www.TheRestaurantExpert.com for more. Learn more tips, tricks and secrets in David’s free five-part e-course, “How to Explode Your Restaurant Profits NOW!” Simply sign up to receive the e-course at TheRestaurantExpert.com.