1. Not budgeting for unforeseen expenses: It is important to always set aside a portion of your profits for unexpected costs, such as repairs or unforeseen costs that may arise. 2. Not establishing a line of credit: Having a line of credit is essential in managing cash flow in the restaurant business. This allows you to borrow money when necessary to cover unexpected costs. 3. Not taking advantage of tax deductions: Make sure to research and take advantage of all available tax deductions relevant to your restaurant business. This can help you save a significant amount of money each year. 4. Spending too much on marketing: While marketing is important, it is also important to stay within budget. Focus on marketing activities that are proven to be effective and cost-efficient. 5. Not controlling labor costs: Labor costs can quickly become unmanageable if not managed properly. Make sure to evaluate your current labor costs, and adjust accordingly to ensure that you are within budget.