How to Analyze a Restaurant Financial Statement

• Set up records following the Uniform System of Accounts
• Analyze the restaurant Profit & loss statement for potential problem areas
• Calculate the key ratios. (We have over 100 ratios)
• Compare your Profit & Loss Statement to similar restaurants
• Establish realistic sales and profit goals
• Use the Internet for ratios & Financial analysis
• Learn the key elements of successful restaurants business plans
• Implement useful spreadsheets included with Seminar
• Develop a budgetSetting Up Daily and Weekly
• Controls That Provide Instant Information
• Get the important reports from your Point of Sales Equipment
• Quickly set up the daily/weekly profit and loss statements
• Establish purveyor assisted ordering system
• Learn seven ways to access fast, reliable information
• Compare key ratios to standards on a daily basis
• How to quickly accumulate the MOST important information
• Sales projections using “Beat Yesterday”
• How to know your profit every day and week (Takes no more than 20 minutes a day with our method)

SAMPLE:                               

Sales $1500 Merchandise Costs $480 Labor Costs $450 Other Costs $375 Net Daily Profit $195 Total $1305

Purchasing

• Developing par levels
• Purchasing based on sales forecasting
• Using the Internet for competitive bids
• Evaluating purveyor purchasing programs

Costing Out the Menu and Bar

• Learn new ideas for costing the most common items
• Buy pre-portion or cut?—The pros and cons
• Access on-line services for the busy restaurant owner
• Use the handy trim and shrinkage standards we provide
• Quick ways to learn the impact of price changes

Pricing the Menu for Profit

• Use new spreadsheet programs
• Consider the labor factor—how & when
• How to consider coupons and discount meals
• Understand profit value and pricing
• Implement the newest menu engineering techniques
• Price the bar competitively
• Which of the following items would you rather

  Sales Price Cost % Hamburger 5.95 1.98 33.3 Prime Rib Dinner 13.95 5.74 41.1 Well or Rail Drink 4.00 0.72 18.0 Cognac 5.50 1.49 27.1

  sell?

Getting Control of Labor Costs

• Make the work place fun
• Compare your wage rates & staffing to other restaurants
• Compete in today’s tight labor market
• Learn labor standards not available anywhere else
• Schedule employees using blind staffing techniques
• Write an employee manual—We provide a sample
• Use a check list to insure compliance with all the various labor laws
• Programs used by chains to reduce turnover
• Attract the best people from today’s tight labor market
• How to find restaurant managers

Controlling the Bar

• Ten of the most common ways employees steal
• How to determine if it’s happening to you
• Evaluate your point of sale system
• Set up daily and weekly inventory controls
• Evaluate entertainment and other promotional programs
• Establish a standard liquor PC
• Rate the probability of bar thievery

Reducing the Cost of Key General Expenses

• Use key strategies for reducing utility costs
• Consider some ideas on reducing linen & laundry expenses
• Get the lowest credit card rate
• Utilize free advertising
• 17 other ideas — reduce general expenses

Incentive Programs that Empower Employees

• Train every employee to be a sales person
• Establish goals for individual employees
• Implement “front of house” sales programs—14 ideas
• Try incentive programs for “back of house” kitchen staff—7 ideas
• Set up a management incentive program geared to results
• Start implementing some of the top marketing programs for 2005

Point of Sale Selection and Computers

• Complete listing of over 100 point of sale and computer companies
• Less expensive equipment for the smaller restaurant
• Minimizing the 7 most common problems restaurants have when computing
• Sample POS Proposal
• Determining cost to benefit ratios when buying equipment
• Using spread sheet programs in the smaller restaurants
• The best way to set up QuickBooks for restaurants

Fraud Detection

• Check list for determining probability of employee thievery
• Six most common ways employees steal
• Utilizing benchmarking to deduce thievery
• New ideas from the IRS and state sales tax auditors

The IRS and Other Government Regulations

• How to reduce income taxes by claiming the FICA tax credit
• What are the employer and employee tip reporting rules?
• Special forms every restaurant needs to file
• Make sure you know sales tax and labor laws on automatic gratuities
• How to take advantage of Work Opportunity credits
• Shorter lives for depreciation of equipment and expendable items
• Uniform Capitalization—how to keep it simple
• Handling tip credit and uniform deductions
• Dealing with negative payroll checks
• Income tax treatment of allocated tips
• What’s new with TRAC agreements
• Explaining tip laws and other government rules to your employees

Financial Analysis of Marketing Programs

• Word of Mouth, the #1 advertising method-how to enhance it
• Evaluating Discounted Programs
• 2 for 1 coupons
• Value added meals
• Discounts for senior citizens and children
• The Top 11 Tried and Tested Marketing Programs
• Add-on Revenue
• Banquet and take-out sales
• T-shirts and other merchandise
• Gift Certificates

Click here for a sample proposal regarding our consulting services