This guide is a roadmap to building a strong financial foundation for your restaurant(s) so that you’re always in control of your finances and always in control of your outcomes.
Why operating your restaurant is extremely stressful
Why you don’t have a ton of cash in the bank
Why growth has stagnated and what to do
How to expand to more locations
Best practices and industry averages to benchmark against
The guide walks through 5 clear steps you can take to ensure you’ve built a strong financial foundation for your restaurant.
To achieve financial success, you need to be able to analyze your financials. To analyze your financials, you must ensure the accounting is timely, accurate, and consistent.
The mistake any ambitious business owner can make, restaurateurs included, is setting KPIs without fixing their accounting first.
If you only get to see the results of your actions in three weeks time, you won’t be able to understand what affected the results, nor will you be able to act fast enough to improve the results. Think of a car dashboard; if you get access to your speedometer or MPG a week after your trip, there’s not much you can do except put less pressure on the gas pedal the next time you drive.
Restaurant uniform chart of accounts
Accrual basis accounting
Balance sheet accuracy
No co-mingling of personal or intercompany expenses
- Clarity on what accounting works for your restaurant and what doesn’t.
- Advice from restaurant finance experts with real industry examples to compare to.
- A step by step walkthrough of industry-standard financial reporting.
- Access to the 3 KPIs you need to pay attention to and how to use them to become more profitable.
- Get a demo of a custom reporting system we designed for restaurateurs (that helps you understand performance in a way non-restaurant accounting software, like Quickbooks, doesn’t.)
This guide is the accumulation of years of experience helping restaurant businesses like yours build solid financial foundations. These are the same tactics and clear, actionable items that we’ve used to change the lives of hundreds of restaurateurs.