Crowdfunding has become a popular way for cash-strapped chefs to launch their own restaurants. But is it the source of easy money many people think it is?
Commenting in the latest Restaurant magazine, Mark Tenzer, partner at accountancy firm Jeffreys Henry LLP, said restaurants need to get their projections right first time if they want long-term success. “Avoid just raising enough to get you started. You need to leave some working capital for seasonal variations, at least for another six months, ideally 12.”