Your customers are smiling ear to ear, your waitstaff are raking in tips, and your kitchen has been bustling all night. Your restaurant must be on it’s “A” game, right? Maybe not. While we’ve just painted the perfect image of restaurant success, these pretty little details won’t be able to tell you if you’ve hit your projected midweek sales targets, or exceeded your labor budget.
Whether you’re on the verge of opening a new restaurant, or you’re a seasoned veteran, the only way you’ll be able to get an accurate picture of your restaurant’s performance is by creating realistic financial projections. The proof is in the numbers - and with these four, fully loaded financial spreadsheets - you can make sure you’re tracking the right ones.
1. Revenue Worksheet
What separates a good restaurateur from a great one are those who take the time to define an annual plan and operating budget. This revenue worksheet can help take your forecasted sales planning to the next level, with built-in formulas, all you need to do to to start tracking is simply plug in your numbers.
2. Controllables Worksheet
If you’re looking to track your cost on a daily, weekly and monthly basis, this spreadsheet will help you do just that. This controllables worksheet will help you gain a better understanding of your restaurant’s cost structure and help identify other areas for potential profit. From visualizing the effect of your labor scheduling, to food and beverage costs, this spreadsheet will help you keep your restaurant costs in check
3. Financial Forecast Worksheet
There are what seems like a never-ending list of expenses involved in not only opening, but keeping your restaurant open. Thanks to this financial forecast worksheet, you’ll be able to monitor both your controllable expenses - such as marketing and utilities - and non-controllable expenses - such as property taxes and rent- with more peace of mind.
4. Startup Costs Worksheet
For those of you in the “just starting out in the restaurant space” camp, this startup costs worksheet will be your holy grail. Don’t become part of the restaurant failure statistic, just because you didn't anticipate all of the associated costs. Whether you’re tracking office expenses and capital improvements, or training and advertising costs, lean on this spreadsheet to have full visibility on where every dollar is going.
It might not be the most glamorous part of owning a restaurant but by using these financial spreadsheets you’ll be able to gain a better understanding of the financials that help your business succeed.By identifying and understanding these numbers, you’ll take some much needed stress out of running your restaurant.
Ready to create your own?
About the Author
Jackie is a Content Marketing Specialist and Social Media strategist at TouchBistro. She covers the latest food, dining, and technology trends for the restaurant industry. A lover of all things coffee, Jackie’s hobbies include breakfast, lunch and dinner.More Content by Jackie Prange