The time of the traditional bank loan has come and gone. Alternative small business lending resources provide business owners with easily accessible capital without drowning them in a mountain of paperwork and making them wait months for a loan decision.
Some restaurants are going debt-free, but does that make sense for your business? Although some debt is decidedly “bad debt,” other investments can help accelerate your restaurant’s growth. Careful consideration of debt options is essential; read on for questions you can ask for a quick debt self-evaluation.
A Restaurant Report article demonstrates how a restaurant can double its profit margin when it cuts expenses by a single digit percentage point. The authors assert that the “restaurant industry is a penny business—some would even say a half-penny business,” and as a result, cost-cutting strategies can be tricky. Restaurant owners are rightfully reluctant to sacrifice quality menu items and … Read More
In September 2013, QSR wrote, “in the quick-service industry, the path to success is straightforward: offering good-tasting, quality food prepared quickly in a clean and courteous environment.” That seems clear enough; quick-service and fast-casual restaurants got into business with this objective at the top of their lists.