Returning to Restaurant Expansion

If you’re operating a thriving restaurant business on the other side of the pandemic, that might mean you have a concept with legs to expand beyond your current location(s). Consider that around 60 percent of new restaurants fail within the first year. And nearly 80 percent shutter before their fifth anniversary.  

There is good reason to be optimistic about restarting restaurant expansion: restaurant sales continue to set records, the federal stimulus has added billions of dollars to company coffers, and commercial real estate opportunities are becoming more workable. So, if you haven’t already done so, let go of the grief created by the turmoil of the last year and a half and give yourself permission to dream about and plan for the future of your business.

Building a Strong FoundationWe all know that a house built on a crumbling foundation can quickly become worthless. As we return to growth, two types of companies will emerge: those made to last and those that will soon fall…