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Created by Harvard professor Francis Aguilar ina PESTLE analysis helps business owners assess environmental factors that are affecting their businesses and improve their company's decision-making and timing.

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Tax, intellectual property and other corporate laws may not work in your favor. You can approach a bank for an outright loan if you have a history of opening successful new businesses.

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Also, court cases that involve restaurants can cause you to change the way you do business. Watching your restaurant's environment can be crucial for marketing decisions.

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Seating, Renovations, and Decorating Construction costs are almost never as quoted. Alternatively, you can pay for a licensed music solution, which does the dirty work of vetting approved artists for you and playing only that music. Food cost is more expensive in New York than most other states, something restaurateurs should keep in mind when creating their budget. For example, she says, U. You need advisors who understand both local and U. What about changes in liquor licensing for your state? Economic: There are many outside economic factors that can affect your business: the minimum wage and the health of the economy are two that could have a major impact on your restaurant. Traditional and old school legacy restaurant POS systems that involve hardware installations, scheduled maintenance and licensing fees can cost in the tens of thousands of dollars. Meet other small restaurant owners and ask them about their challenges and how much they spent opening their establishment. You might have a little better luck opening a franchise that already has an established name and concept.

In this situation, environment doesn't refer to the neighborhood or surrounding landscape. Certain factors in a business, such as salaries, inventory and sales goals can be controlled.

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Better to live, eat and socialize among nationals so you can pick up the nuances of their culture, dialect and business attitudes, not to mention develop contacts.

Advertising, signs and marketing are important items that need to be included in your start-up budget. Work in the industry if you have the time to learn the ins-and-outs of the business.

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These 'ghost restaurants' could spell the death of traditional restaurant delivery