“You don’t have to be an industry expert yourself to get all the business information that you need before you invest in a hotel, pub or restaurant.”
But it is vital that you avoid the pitfalls and get an honest and unbiased business appraisal of the prospects for your new business, from experienced hospitality industry professionals.
When you sign on that dotted line to take over any hospitality business it’s not only all the future rents, mortgage payments and bank loans that you are committing to. You will also have had to pay for fixtures and fittings, maybe even a premium for a lease, and a deposit. Whichever way you look at it the sums are considerable. They could well represent your entire life savings.
You owe it to yourself to be thorough in your due diligence to make sure that the business venture you are embarking on is financially viable.
What you really need
What you really need is someone who is entirely independent to take a look at your new venture and be brutally honest. You need someone to ask tough questions. But above all you need a reality check from someone who knows what is actually possible. No ‘’pie in the sky’’ projections, no waffle or optimistic fingers stuck in the air. You just need the truth.
Before you commit your life savings you need an honest and unbiased appraisal of the likely outcome from all your hard work that will go into developing your new business.
Find out the factors that influence a projected Profit & Loss account
For a no-obligation initial discussion phone Julie Godsoe on 01628 487613
or send an email.
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