Tutorials > Restaurant Management Finances

Restaurant Management Finances

Date: 21 January 2023 | Posted by: voska89

Last updated 4/2022
MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz
Language: English | Size: 3.13 GB | Duration: 2h 22m
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.

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