Restaurant Feasibility and Viability Study

Description:

Perhaps the most important decision a hospitality manager can make is whether or not to go into business in the first place. Oddly, this decision has often been dictated by vague impressions and educated guesses. But carefully and thoughtfully conducted feasibility studiesPerhaps the most important decision a hospitality manager can make is whether or not to go into business in the first place. Oddly, this decision has often been dictated by vague impressions and educated guesses. But carefully and thoughtfully conducted feasibility studies now provide hospitality managers with a tool for improving their chances for success before commit themselves to definite locations and definite type of operations.

When the reader compete this textbook, he/she should be able to:

• Explain in some detail how the feasibility study can be used to improve the chance for success of a planned hospitality enterprise.
• List and explain briefly the various steps involved in drawing up a feasibility study for a hospitality operation (restaurant).
• Explain how he/she would implement these steps.

This is why the feasibility study is so imperative to those developers, investors and operators who intent to build a project that are profitable. To be useful, however, a feasibility study must be understood by all who act on its conclusions.