Research Risks:$$Conduct research to identify potential risks associated with owning and managing a restaurant. Consider risks related to operations, finance, legal issues, competition, market changes, staffing, food safety, and customer service. Compile a comprehensive list of these risks with brief descriptions for each.

Categorization and Prioritization:$$Categorize the identified risks into different categories $($e$.$g$.,$ financial, operational, legal$)$ and prioritize them based on their potential impact on the restaurant's success or continuity.

Part $2$: Developing Risk Management Strategies

Select Key Risks:$$Choose the top $5-8$ risks from the list for which you will develop risk management strategies.

Risk Mitigation Strategies:$$For each selected risk, develop a risk management strategy. Describe specific actions, policies, or procedures that can be implemented to mitigate or manage the risk effectively. Include preventive measures, contingency plans, and potential partnerships or resources that could aid in risk reduction.