For successful restaurateurs, opening a new restaurant requires more than, “I can cook a great steak on the grill.”
Instead, it’s essential to prepare the recipe, ingredients and strategy for their new concepts before discussing financing options. Our top tip is to make sure they have a deep understanding of their financial projections and know what it takes to be profitable.
Let’s take Roger and Suzanne Perry’s Dr. BBQ restaurant as an example. We decided to finance their concept because the Perry’s provided fact-based projections and proven experience, both key ingredients for growth. (Plus, their food is pretty delicious.)
– Leslie Bridges, Valley Bank