Forecasting and Budgeting
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Training Video
How to Accurately Calculate Your Restaurant's Food Cost
Accurately calculating your restaurant's food cost is critical, and fortunately, it's not complicated. Chef Omar Pereney walks you through the food cost formula step-by-step to arrive at an accurate cost of goods sold.
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Article
How to Create a Realistic Budget For Your Restaurant
The vast majority of restaurant failures can be attributed to the absence of a plan or practical budget upon which decisions, accountability and actions are based. A budget focuses management on considering changing conditions and forces them to adapt their operations to maintain profitability and consistency ...
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System
Profit and Loss Reporting
Your P&L should not only tell you whether your restaurant is profitable, it needs to provide accurate cost of sales, labor and operating expenses in a way that helps management identify challenges and track progress through numbers. Standard P&L reports from off-the-shelf accounting software are not ...
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Restaurant P&L Templates
A profit and loss statement represents the end result of all of your efforts from marketing to operations to cost control. These sample summary and detailed P&L templates will give you ideas and a starting point for designing your own P&L.
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How to Manage Your Restaurant's Opening Budget
Restaurant Economics: How restaurant operators can schedule and manage the initial budgeting process with more success and less pain. This article looks at how two restaurant concepts determined the amount of money needed and how they managed the preopening process.
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How to Manage Your Restaurant's Critical Numbers and Avoid Financial Loose Ends
Too many owner/operators are not tracking sales accurately, not posting costs by category correctly, and/or vewing a cash balance at the end of the month as profit. In this article, we discuss how to setup and interpret your financial reports to help you identify how your restaurant is really perfor...
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Article
The Best Way to Format Your Restaurant's P&L
One of most valuable tools and controls in any restaurant is your Profit & Loss Statement (P&L). Your P&L should tell you how well (or how bad) your restaurant is doing and if there are problems, where those problems are and how worried you should be. But not all P&L formats are created equal. Here's ...
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Hourly Guest Count Tracking Template
The Hourly Guest Count Tracking template is a guest count forecasting tool for tracking and forecasting guest counts down to half-hour intervals.
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Weekly Prime Cost Worksheet vs. Budget Template
Comparing weekly prime cost to your weekly budget is one of the most profitable activities any restaurant can do. If prime cost is too high it's VERY difficult for any restaurant to generate a profit. Our weekly prime cost worksheets make it easy to track and control your biggest and most volatile c...
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Online Course
Preparing Your Business Plan Projections
A key element of a restaurant's Business Plan is the financials: how much revenue you think you might bring in, how much profit you expect to see, and how much you think it will cost to build out your restaurant. For most entrepreneurs, preparing the financial statements for a prospective restaurant ...
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Annual Restaurant Budget Worksheets - 13 4-Week Periods version
Studies show that companies who prepare annual operating budgets are more successful than those who don't. Use this budget worksheet to quickly prepare your annual financial plan to give you and your staff specific, measurable goals throughout the coming year.
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Annual Restaurant Budget Worksheets - Monthly Version
Studies show that companies who prepare annual operating budgets are more successful than those who don't. Use this budget worksheet to quickly prepare your annual financial plan to give you and your staff specific, measurable goals throughout the coming year.
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How to Prepare a Restaurant Business Plan: Financial Section
The financial section is often viewed as the most important part of a business plan. It is likely to receive a lot of attention and even scrutiny from potential lenders and investors. Use these guidelines with the financial model worksheets to prepare a comprehensive, professional and convincing business ...
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Restaurant Chart of Accounts
Using a restaurant industry standard chart of accounts is one of the smartest things an independent operator can do. An industry standard chart of accounts will give you financial information in a much more useful format and enable you to compare your P&L numbers with other restaurants. Also included ...
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Online Course
How to Know What Your Food Cost Should Be
In this course, we'll show you how to establish your realistic target food cost -- what we call your "Ideal Food Cost". Ideal food cost (often called theoretical cost) is the cost expected for a given sales mix over a period of time, assuming proper portioning and normal waste and yields. How to Know ...
