Most new restaurants are out of business within a year.
Most restaurants are out of business so quickly because ownership is locked into an inflexible concept and is unwilling or unable to adjust to the market as it actually develops.
Successful restaurants change over time, presenting new opportunities for the owner, but also for the customer to discover anew a favorite restaurant.
Year three will see the evolution of a breakdfast/lunch stand into an intimate casual up-scale dining establishment. Year three will see the introduction of dinner service on Wednesday, Thursday, Friday and Saturday nights. Business hours for dinner service will be 5:30pm - 9:30pm.
Year three will also see the beginning of a food manufacturing and retail sales operation by the start of the third quarter.
In year three the menu is growing. Daily specials are beginning to be an important part of the lunch and breakfast trade, and though the signature sandwich remains the center of the lunch trade the center of profit is shifting to the dinner trade. In addition the weekend brunch is becoming an important part of the restaurant's marketing program.
The third year financial outlook is to expand the accounting profit and position the company so that the fourth quarter can show an economic profit, and, of course, to stay in business.
The third year service goal is to continue to build a take out business, to develop a dinner trade, and to further develop a catering trade that can generate a fourth quarter economic profit for the business. In addition the business will begin to move into manufacturing and retail sales.
YEAR FOUR