How to Format & Read a Restaurant P&L

Restaurant success isn't just measured in terms of creating happy guests, but also in the cold, hard realities of facts, figures and finances. There is a big difference between running a restaurant and building a profitable, valuable business. This course will give you and your managers practical, common-sense insights into managing and improving the financial or business side of your restaurant.

How to Format & Read a Restaurant P&L

About This Course

Category:

Financial

Recommended For:

Owner, Managers, Accountants, Bookkeepers

Learning Time:

1 hour 3 minutes

What You Will Learn

Operating a restaurant requires much more than serving food and taking care of employees and customers. Success isn't just measured in terms of happy guests but ultimately in the cold, hard realities of facts, figures and finances. There is a big difference between running a restaurant and building a profitable business and understanding your numbers is one skill that virtually all successful business people possess.

This course will show you in a practical, realistic and easy to understand way how to make your P&L one of your most valuable controls. You’ll learn how to accurately evaluate the performance of your restaurant using your P&L.

  • How to format your P&L to maximize its usefulness and value
  • How to determine how profitable your restaurant SHOULD be based on your sales volume
  • The most important number on every restaurant P&L and why it's one of the keys to your success
  • Why many restaurants use a 4 week accounting period, not a monthly one
  • Restaurant industry averages and guidelines on key costs and margins

Instructor: Jim Laube


Jim Laube

Founding RestaurantOwner.com in 1998, Jim is a seasoned expert in the restaurant industry. With a diverse background spanning from frontline roles to CFO roles, he brings unmatched expertise as a former advisor and CPA to independent restaurants. Having trained thousands of professionals on restaurant accounting and controls, Jim remains dedicated to developing valuable resources and training programs for independent restaurant success.

Section 1
Overview
  • 1.
    Course Introduction
    3:02
  • 2.
    Cause & Effect
    6:01
Section 2
P&L Case Study
  • 3.
    Case Study Introduction
    2:55
  • 4.
    Sales Per Square Foot
    4:25
  • 5.
    P&L Format
    5:49
  • 6.
    Cost of Sales Percentages
    1:26
  • 7.
    Prime Cost
    2:45
  • 8.
    Controllable Income
    1:42
  • 9.
    Occupancy Cost
    2:46
  • 10.
    Conclusions & Insights
    4:10
  • 11.
    Case Study Quiz
    1:00
Section 3
Key P&L Issues & Insights
  • 12.
    The Restaurant Audit Trail
    7:45
  • 13.
    Why Take Physical Inventories
    2:40
  • 14.
    Uniform System of Accounts for Restaurants
    2:42
  • 15.
    How to Have Accurate Labor Cost
    2:39
  • 16.
    Monthly or 4 Week P&Ls?
    5:15
  • 17.
    The Need for Speed
    3:20
  • 18.
    P&L Issues & Insights Quiz
    1:00
Section 4
Conclusion
  • 19.
    Congratulations
    1:17

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