Are You Managing BOTH Sides of Your Restaurant?

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There are essentially two separate sides or sets of functions to manage in every restaurant. First, every restaurant has an " operational" side.

The operational side is basically what gets done every day and includes things like the menu and recipes; management of the kitchen and dining room; purchasing, storage and preparation; hiring, training and scheduling; and cleanliness, sanitation and food safety.

If you're an owner/operator or restaurant manager I'm sure you can identify with living and breathing these issues for too many hours a day than you'd care to be reminded of. It's not uncommon for the operational functions in a restaurant to occupy 110% of an owner's time, energy and resources to the exclusion of almost everything else.

But there's also another critically important set of functions in every restaurant sometimes referred to as "the numbers" or the " financial" side of the business.

The financial side includes things like accounting, reporting, cost control, budgeting, cash management and even maintaining good relations with people who can provide capital for growth like bankers and investors.

Granted, not the most stimulating topics to most restaurateurs but vitally important when it comes to creating a successful business. In many ways, managing the financial side requires a totally different set of skills, disciplines and knowledge from that of running the restaurant.

If there is one overwhelming truth that I have observed again and again in the past 20 plus years working with literally hundreds of restaurant operators it's this:

Those restaurant owners, operators & even managers who are truly experts at the operational side of their business, and also have a solid understanding and put a high priority on managing the financial side of their restaurants, consistently outperform the operators who don't.

How much time and effort are you investing in managing the " financial" side of your restaurant?

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