Restaurant Management Finances

How to manage restaurant finance, Restaurant cost breakdown, Restaurant working capital, Restaurant bookkeeping etc.

What you'll learn

How to manage restaurant finances

Restaurant cost breakdown

Understanding restaurant overhead

Tips to keep your restaurant expenses under control

How to best prepare a restaurant budget to control cost

Ten restaurant financing options to consider

Restaurant financial key performance indicators

How to handle bookkeeping for a restaurant

Five ways to use yur restaurant working capital

Five things startup restaurants typically overspend on

Requirements

No requirement

Description

More than half the restaurants that open fail in their first two years of service. This is a known fact in the restaurant industry and one of the main reasons the industry is so feared by new entrepreneurs. While its is true that restaurant space is ruthless, there are still those who open up and not just survive the business but also lead the industry. The main reason that enable some new restaurant to survive and grow is that the owners are more focus on their financial management, and doing so in the right way. It may interest you to note that most restaurants lack an excellent financial management system. Usually, first time restaurateurs are more focused on arranging the capital for opening a restaurant, that they forget about the working capital, that is, the money that would sustain the business, until the restaurant business reaches its break even and start generating profits. Its very important that owners must understand and also study the type of restaurant that they want to start with because every restaurant types can be determined by the time of reaching the break- even point.  One thing that every restaurant manager must watch carefully is that they should not spend more than what they receive, in such case the cash-flow of the organization must be manage very well to always ensure that there is consistent cash-flow that will help in the operation of the business. The employees of the restaurant are the key people in helping the business reach a profitable level meaning that employing competent employees and paying them well will mean that you have credible work force who are ready to work hard to ensure the growth of the business. There are a very important things you also need to be taken into account, that is the fixed cost and variable cost of the restaurant, its good you work to ensure that cost are manage to the lowest level.

Overview

Section 1: Introduction

Lecture 1 Introduction

Lecture 2 What is restaurant financing

Lecture 3 Breakeven point of different restaurant format

Lecture 4 What is cash flow

Section 2: How To Manage Restaurant Finances

Lecture 5 Understand your cost

Lecture 6 Know the finances basics

Lecture 7 Understand where financing is coming from

Lecture 8 Choose your management platform

Lecture 9 Restaurant financial management tips

Section 3: Restaurant Cost Breakdown

Lecture 10 Food cost

Lecture 11 How to reduce food cost

Lecture 12 How to manage labor cost

Lecture 13 How to reduce labor cost

Lecture 14 Prime cost calculator

Lecture 15 Other cost you need to keep in check

Lecture 16 Restaurant fixed cost

Section 4: How To Best Prepare A Restaurant Budget To Control Cost

Lecture 17 Choose how you want to track your numbers

Lecture 18 Calculate cost

Lecture 19 Estimate and track sales in your restaurant budget

Lecture 20 Compare your sales and your cost

Lecture 21 Make changes so that sales always cover cost

Lecture 22 Work to increase profits

Lecture 23 Use software to keep wages under control

Section 5: Ten Restaurant Financing Options To Consider

Lecture 24 Traditional brick and mortar bank term loans

Lecture 25 Alternative loans

Lecture 26 A small business administration ( SBA) loans

Lecture 27 Merchant cash advance

Lecture 28 Business line of credit

Lecture 29 Crowdfunding

Lecture 30 Asking friends or family members

Lecture 31 A commercial real estate loan

Lecture 32 Equipment financing

Lecture 33 Purchase order financing

Section 6: How To Handle Bookkeeping For A Restaurant

Lecture 34 Record sales

Lecture 35 Set up accounts payable

Lecture 36 Outsource your payroll

Lecture 37 Reconcile all accounts

Lecture 38 Analyze financial reports

Section 7: Five Ways To Use Your Restaurant Working Capital

Lecture 39 Investment projects

Lecture 40 Marketing projects

Lecture 41 Reactive projects

Lecture 42 Employee projects

Lecture 43 Technology projects

Section 8: Understanding Restaurant Overhead

Lecture 44 Overhead cost

Lecture 45 Cost of goods sold

Lecture 46 Calculating restaurant gross profit

Lecture 47 Net income

Lecture 48 Profit margin

Section 9: Five Things Startup Restaurant Typically overspend On

Lecture 49 New equipment cost

Lecture 50 Technology

Lecture 51 Sales and marketing

Lecture 52 Remolding / decorating

Lecture 53 Food expenses

Section 10: Tips To Keep Your Restaurant Expenses Under Control

Lecture 54 Keep the labor cost under control

Lecture 55 Do not run a credit bill

Lecture 56 Prepare for know expenses

Section 11: Restaurant Financial Key Performance indicators ( KPI'S)

Lecture 57 Restaurant key financial key performance indicators

Restaurant operators, restaurant managers, restaurant owners, customers, employees, chefs, restaurant associations, hospitality industry, restaurant policy makers, CEO, directors, self employed, multinational companies, business students, caterers, suppliers, partners, everybody etc.