You’ve done the hard work, opened your business, and successfully promoted it and the sales are coming in. But how do you make it profitable? This seminar will take a deep dive into basic and advanced restaurant accounting helping to ensure you run a profitable business. Participants will learn the art of calculating, controlling, recording, and profiting from the numbers that every successful operation needs to know. The purpose of this seminar will be to familiarize operators not only with the three most important costs affecting an operation (the Prime Numbers: Food Cost, Labor Cost, and Beverage Cost) but also with the entire P & L statement, balance sheets, and budgeting. All operators know (or should know) the importance of these numbers, yet few understand how to derive them accurately, let alone interpret them and put them to use. With this knowledge, participants will unlock the profit potential within their operations. This will be an intensive, hands-on, in-depth seminar in which participants will learn to:
- Budget the Prime numbers, both for start-ups and established operations, as well as techniques for easily adhering to these budgets
- Accurately calculate food, beverage, and labor costs (including advance formulae for detecting, budgeting, and pricing for waste)
- Create, analyze, and interpret a P&L and Balance Sheet
- Create annual and declining budgets
- How to define controllable figures
- Deliver consistent profitability through properly budgeted and managed Prime Numbers
There will be numerous hand-outs from which the attendees can follow along. Interactive Q&A throughout the seminar will be encouraged. Participants will engage in real-time problem-solving and be guided through a step-by-step process in which they will learn the topic easily.
Seminar participants will be fully prepared to utilize the information learned upon leaving the seminar, being able to action their knowledge at their own establishments immediately.
