Managing your business finances might just be the hardest part of running a restaurant or bar – but it's also the task that can make the difference between success and failure. From securing loans and creating cash-flow projections to bookkeeping and taxes, maintaining your finances may begin to feel like a juggling act!
Take heart in the fact that you don't have to be a financial wizard or have an accounting degree to keep your business on track. But there are some basic components that you should be aware of so you can plan and invest wisely.
We'll discuss some financial considerations here, but know that this isn't a comprehensive guide. For specific information about managing your business's finances, consult your business advisor, accountant, or attorney.