Restaurants are one of the most common new businesses for novice entrepreneurs to start. So much in fact that:
But the restaurant business is not for the faint of heart. New restaurants often experience higher than average failure rates than businesses in other industries. For example:
However, this can be better avoided with proper planning and developing financial projections. With Projection Genie and our interactive financial simulator, we help new restauranteurs avoid launching a poorly planned restaurants by providing you with the financial analysis and reports you need to determine how to start a financially successful business before you launch it.
Not only does Projection Genie help restauranteurs answer questions like these, it also provides education on common business and restaurant terminology and recommendations via tooltips and self-help articles to improve your knowledge and understanding of your potential outcomes while creating simulations and what-if scenarios.