Profit and loss account sample restaurant business plan

Green text and arrows indicate in increase compared to your budget or last year, while red text and arrows indicate you are down against budget or the previous years.

restaurant financial statement sample

The Wrights will be leasing a 3, square foot space located at West Roads Shopping Center, an existing retail center located in Benbrook, a suburb in Fort Worth, Texas.

Remember that successful businesses use and rely on data to make decisions. The average US retail price for diesel and regular gas, which influences discretionary consumer spending on eating out, rose The restaurant will be family owned and operated by Jeff and Betty Wright.

The following systems will be used by management: Order Guide: The restaurant will use an item specific order guide to track order history and maintain designated levels of product in inventory. Weekly Inventory: Management will conduct a weekly inventory to determine valuation for use in the preparation of weekly profit and loss reports.

Restaurant financial plan pdf

Jeff and Betty Wright will also provide home cooked fare that appeals to the current trends of healthier food and offer menu selections which will appeal to this group. Jeff began his restaurant career at the age of 15 working in a quick-service foodservice operation and earned his way through college as a server and bartender. THR will be positioned as the premier traditional home-style restaurant. What is Your Biggest Accounting issue? Some handhelds can also print customer checks and process credit card payments. You can introduce new policies to prevent future breakage and reduce energy consumption, but you will continue to incur these costs regardless of sales or customers. Management is able to influence controllable costs and profit to a much greater degree than non-controllable and fixed expenses like rent, taxes, interest, and insurance. US tourism spending for food services and drinking places, an indicator for restaurant revenues, increased 6. A slight complication is that in some states, foodservice employers are able to treat tips received by their staff as contributing to their wages; in such states, this policy reduces the impact of the minimum wage from the employers' perspective. Weekly statements are recommended so you can keep track of what is most profitable or costly to your establishment each week. The residential population in the immediate area is comprised of a mixture of single family and multi-family housing. Merchandise could include gift cards, t-shirts, mugs or hats. If you are a high-end steak house, you may generate more profits from food dishes than you do from selling wine. The costs list is grouped into sections, starting with labour costs, such as managers salary, kitchen labour cost, bar labour cost, breakfast labour cost, dinner labour cost and other labour costs.

Occupancy Expenses These costs or expenses include the nuts and bolts of running your business, which includes property taxes, utilities, interest, depreciation, rent and waste removal.

On a typical day in America inmore than million people will be foodservice patrons. This will encourage families tired from a day of work to stop in for a home cooked meal they can enjoy — without the cleanup!

Profit and loss account sample restaurant business plan

As an example, when comparing a 5-star Manhattan restaurant to a fast food chain, the 5-star restaurant will invest in more fancy chinaware and the fast food chain will purchase more disposable cups. Info 4. Cost accounting programs help companies determine the profitability of individual menu items. As with the cover and sales data, completing the budget and last year columns will allow the spreadsheet to calculate a comparison against each, and these will be colour coded with arrows to indicate whether or they are an increase or decrease. We will strive to achieve this goal by: 1 by providing menu items incorporating quality ingredients at reasonable prices, and 2 we will be mindful of the well being of our customers and staff— treating each and everyone with dignity and respect — just like we would at our own home! If your restaurant has merchandise or a catering division, you should put those in COGS also. You can include occupancy expenses here or choose to make a separate section. THR is registered in the state of Texas a community property state. A part time bookkeeper will process and record invoices and credits daily. Census Report. Our restaurant will provide a relaxed atmosphere and when customers walk in they will be greeted by warm smiles and greeted just as they were arriving home. This could include doing high end special events or private parties, and it could include selling snacks for a fundraiser or local school event. If you run a boutique coffee shop in Brooklyn, your coffee sales will likely be higher than selling food items. Again, this information is automatically calculated based on information entered elsewhere on the spreadsheet.

Later, we will go through the equation for COGS and other useful restaurant calculations. Not sure where your cash flow is going each month? Need help with financial reporting and actionable analysis?

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