THE PROBLEM
Want to make better financial decisions but don’t know where to start?
Raise your hand if you've ever asked yourself these questions:
Do you want to manage your labor effectively, improve cash flow management, identify and address problems quickly, and increase profitability but don’t know where to begin?
Is your bookkeeper expensive and slow? Stopping you from making time-sensitive decisions because you have no view of your business’ financial performance?
Do you wonder if an employee might be stealing and you don’t know how to find out “for sure”?
Are you spending way too much money on Labor? This tool can show you what you need to do to shift Labor to drive the performance you need.
The MM P&L Tool can help.
We have seen an increase in Revenue from +10% and a 3-5% increase in COGS profitability from having real-time numbers at your fingertips.
What are the impacts when a food business doesn't understand their overall financial performance?
It can lead to incorrect pricing, inaccurate budgeting and employee scheduling, poor inventory management, reduced profitability, and limited ability to make informed business decisions.
Why does this matter?
Rule #1 to running a successful Food Business? Know Your Numbers. You can’t make good financial decisions if you don't know your numbers.
When used correctly, this tool will show you in “real time” if you are making money each week and what your real “break even” point is.
This tool can give you the information you need to confidently make business decisions including: managing your labor spend more effectively, identifying and addressing problems quickly, managing costs in "real-time" (aka before they sink you), increasing profitability, and improving cash flow management.
When used correctly, this tool will show you in “real time” if you are making money each week and what your real “break even” point is.
This tool can give you the information you need to confidently make business decisions including: managing your labor spend more effectively, identifying and addressing problems quickly, managing costs in "real-time" (aka before they sink you), increasing profitability, and improving cash flow management.
THE SOLUTION
Introducing the Restaurant Prime Costs P&L Tool.
With this tool you can:
Track your Daily and Weekly Sales and Prime Costs (Food and Labor) so you know what's happening in "real-time"
Drive COGS Performance:
Input invoices by category to develop historical expectations
Ability to know COGS purchases % weekly to measure results and ensure consistency
Closer inspection of invoices and posting will alert you of cost increases by item so you can proactively respond instead of getting caught off guard
Drive Labor Performance:
Ability to understand Labor $ / % by day to optimize effectiveness and efficiency
Determine best use of Labor $ to ensure money is spent to achieve the best result when you're operations are busiest
Drive YOUR performance as a leader. This gives you the discipline to understand your business which will make you a stronger, more capable professional.
What can this tool do?
Give you a comprehensive view of your business in real time.
Track Cash expected against Deposits to determine Cash Over / Short
This tool provides the opportunities to check expected cash against deposits and helps you easily identify credit card sales and check bank statements daily. If you check your bank transaction history daily, you will ensure your hard earned revenue lands in the bank (and notice quickly when it doesn’t).
If you populate Last Year's (LY) Sales, you will understand Comp Sales and whether your business is trending favorably
By using this tool, within 3-6 months you can improve Revenue and Profitability with more responsible purchasing and better deployment of Labor
TIME COMMITMENT
What's the time commitment?
Initial set up time commitment is approximately 3-5 hours for up to a $5MM Annual Revenue business.
Setup for a new month takes approximately 30-60 minutes to populate.
Once fully populated, 1 hour a week, or 8-10 minutes per day can keep this file updated.
We encourage you to start every day with 10 minutes to update this file. You can log your invoices and populate your daily sales so you always know what's happening in your business.
If you want to maximize profitability, this tool can help you identify all the ways you are leaving money on the table. Don't forget that saving 3-5% in COGS spend can translate to $15-25K/year savings in a $10K/week business!
GET THE BUNDLE
Get started today!
This is part of our free restaurant industry tools bundle! It includes the Theoretical COGS Menu MGMT Tool, Restaurant Prime Costs P&L Tool, and the Master Recipe MGMT Tool.
RESTAURANT INDUSTRY TOOLS BUNDLE
Restaurant Prime Costs P&L Tool
Maximize your profitability with real-time P&L insights. Make informed decisions, set accurate prices, and improve cash flow management to quickly identify and address problems.
Make informed decisions
Set accurate prices
Improve cash flow mgmt
Quickly identify & fix problems
