The 4 Financial Spreadsheets Your Restaurant Needs

January 15, 2018 Tiffany Regaudie

 

 

Your financial spreadsheets are the backbone of your restaurant’s health. 
 
But if you know only the current state of your restaurant’s finances, you’re not getting the whole story. You’re missing out on the best part: the future. 

 
As a business owner or manager, you need to be diligent about updating your financial projections so you can:

 

  • Take early measures to address low profits

  • Know how to plan for future investment 

  • Set realistic revenue targets

  • Tweak your operations for more efficiency – before emergencies hit

 
Not to be confused with a profit and loss statement, your financial projections look to the future to help you anticipate how much revenue you’ll bring in and how much you’ll spend on operations. 
 


Whether you’re a new restaurant owner or a seasoned veteran, you’ll want to make sure you’re properly projecting your revenue and expenses. So we’ve consolidated the following four financial spreadsheets that work together (with formulas!):

 

  • Revenue spreadsheet template

  • Controllable costs spreadsheet template

  • Financial forecast spreadsheet template

  • Startup costs spreadsheet template

 

 

Download the Spreadsheets

 


These four spreadsheets work together to create a financial forecast spreadsheet that will give you full visibility into how you can expect your restaurant to perform. Here’s how to populate each sheet to get the most accurate financial projections for your restaurant.

 

 

How to Use Your Restaurant Financial Spreadsheets

 

 

1. REVENUE SPREADSHEET TEMPLATE


Your revenue spreadsheet template shows you:

  • Your total expected revenue

  • Your revenue split between food and drink

Step 1: Enter the amount of days during the week when your restaurant is open.
 
Step 2: Under “Weekends & Holidays”, enter the number of weekend days and holidays when your restaurant is open.
 
Step 3: Enter your average sales for one midweek day.
 
Step 4: The spreadsheet automatically doubles your midweek sales number to generate the weekend and holidays sales number. Adjust this number based on your own weekend and holiday sales.
 

Step 5: Enter the percentage of sales that is usually attributed to food and drink. 

 

 

2. CONTROLLABLE COSTS SPREADSHEET TEMPLATE 

 

Your revenue number from the first worksheet will transfer over to your controllable costs worksheet. Also known as your “prime costs”, your controllable costs spreadsheet template shows you:

  • How much you’re spending on food and drink

  • How much you’re spending on labor

  • Your restaurant’s operational profit margin 

Step 1: Calculate your Cost of Goods Sold – you should end up with a percentage number for your food and beverage. (Note that for most venues 25%–40% is a good food cost ratio, and 20%–35% is a good beverage cost ratio.)
 
Step 2: Enter your food cost percentage and your beverage cost percentage.
 
Step 3: Tally your labor costs separately for your kitchen, front of house, and management staff. Based on your sales, you should be able to come up with a percentage of labor costs.
 
Step 4: Enter your labor percentages for your kitchen and front of house staff. 
 
Step 5: Enter the amount you spend on management staff in a dollar amount.
 


3. FINANCIAL FORECAST SPREADSHEET TEMPLATE

 
Your total revenue, gross profit, and operating profit percentage has carried over from the two previous spreadsheets. Your financial forecast spreadsheet template shows you:

  • How much you’re spending on “controllable” expenses such as marketing

  • How much you’re spending on “non-controllable” expenses such as rent and utilities 

  • How much profit you’re left with after these expenses

Step 1: Calculate percentages for how much you spend on advertising and promotion, kitchen supplies, restaurant supplies, and credit card fees based on your current revenue.
 
Step 2: Enter all percentages where indicated.
 
Step 3: Enter amounts for all other expenses indicated on the spreadsheet.
 
Your bottom two lines are now your restaurant’s total income amount and profit margin.

 

 

 

4. STARTUP COSTS SPREADSHEET TEMPLATE


Bonus spreadsheet: If you’re just starting out and your restaurant hasn’t opened yet, we put together an additional restaurant opening spreadsheet to help you keep track of your costs. Starting a restaurant is a large undertaking, so you’ll want to be diligent about your costs right from the start to make sure you’re spending your startup capital in the right way. 


 

Download the Spreadsheets

 

 

While it may not be the most glamorous part of owning a restaurant, updated financial

projection spreadsheets make all the difference in making long-term decisions about your restaurant. Know your numbers ahead of time and avoid emergency financial situations as much as possible – so you can ultimately enjoy owning your dream restaurant.

 

 

 

 

About the Author

Tiffany Regaudie

Tiffany is the Content Marketing Manager at TouchBistro, where she shares knowledge with restaurateurs on how to run their business. She's passionate about traveling the world and getting to know communities through great food.

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