How To Read A Restaurant Profit and Loss Statement (P&L)
Many operators don’t fully understand how to read a restaurant P&L. In fact, many don’t even have a basic understanding of where the data is coming from or how to derive actionable insights from the data. Understanding how to read a restaurant’s income statement is essential for the financial success of restaurants. The people responsible for […]
How To Control Cost of Goods (COGS) In Your Restaurant
Restaurant Cost of Goods (or to some, Restaurant Cost Of Sales) takes up a significant amount of a restaurant’s overall expense. Unfortunately, many owners/operators fail to see how COGS for restaurants can significantly negatively impact profitability and cash flow if mismanaged or handled inconsistently. Point-blank: It’s critical to the health and survival of all restaurants […]
4 Unstoppable Ways To Reopening Your Dining Rooms
When it comes to the task of reopening dining rooms, most restaurant owners and operators are feeling a sense of overwhelming mental limbo. Excitement and eagerness for business to return to normal, and worriment of what that new normal will look like; all while learning how to successfully navigate the many facets that go into […]
Top 5 Tools for Financial Success in Your Restaurant
Although there are many, we’ve picked out our Top 5 Tools for Financial Success in Your Restaurant: 1) Restaurant Budget vs Actual A Budget vs Actual enables you to see week over week how you’re performing against your goals. Since the budget is your roadmap to success, you need to understand where you’re hitting the […]