Award Date

12-2009

Degree Type

Professional Paper

Degree Name

Master of Hospitality Administration

Department

Hotel Administration

First Committee Member

Clark Kincaid, Chair

Number of Pages

38

Abstract

Independent restaurants are important in communities. Not only can restaurants provide the basic need of an enjoyable meal but restaurants also serve as gathering places for social and recreational purposes. People can celebrate special occasions, spend time with family or friends, and/or enjoy the atmosphere at restaurants. A restaurateur must have a solid business plan and understanding of what it means to run a restaurant business in both strong and weak economies. Lack of job security has many Americans leaving the corporate world to start their own businesses and make their own future (Cohn, 2009). According to the U.S. Small Business Administration, seven out of ten of these new employer firms however last only at least years and roughly half survive five years. These grim statistics prove that in any business, preparation and research are a necessity before embarking into a business venture.

Keywords

Business planning; Restaurant management; Restaurants – Finance; Small business; Success in business

Disciplines

Entrepreneurial and Small Business Operations | Food and Beverage Management | Hospitality Administration and Management

Language

English


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