Calculating Assets and Liabilities for your Restaurant Business Plan

Anatomy of a Business Plan by Linda Pinson courtesy of amazon

As part of your restaurant business plan, there should always be a section labeled 'Assets and Liabilities' so that your lender can see what you own, have, owe and will need to obtain their loan.

This section will take some thought since most of us don't have a journal of all our assets. You will once you create your own business plan. Restaurant loans are one of the most difficult to obtain, banks simply don't want to be in the restaurant business if yours fails and at least 3 out of every 5 do fail, sadly. Liabilities are a little easier to know, find or remember. Your business plan will become a helpful resource to you in your business once you take the time to document your holdings and liabilities and it should also help you to have the proper amount of insurance for your business and your home. Check out Linda Pinson's Anatomy of a Business Plan, voted Best Business Book of the Year, winner of the Ben Franklin Award for step by step instructions.

When creating your list of assets and liabilities use this guide to help you create your columns, it will be easier to read, understand and total the columns: