You Need A Restaurant Expenses Tracker
How Do I Forecast Restaurant Sales?
You don’t need to be an accountant or a sales analyst to calculate food or labor costs or forecast your sales though… you simply need a budget and and a good spreadsheet. Once you have the right forecast in place, you’ll have a command of your sales averages and trends, you can set goals, manage inventory, staff… and make money!
How Much Does It Cost To Run A Restaurant, Anyway?
It can cost anywhere from $250,000 and $2 million to open up your dream restaurant. That’s a big window though! How do you figure out where your dream restaurant falls on that spectrum? This may sound overwhelming, (and, let’s be honest, a little discouraging), but it doesn’t have to be. The best thing you can do to make your restaurant a success is prepare yourself for the cost of opening a restaurant, and estimate as realistically as possible what it will cost to operate it.
So, What Do MY Daily Operations Cost?
You can figure that out with a very a detailed expenses plan. There are a lot of tools online that can help you write your expenses plan and plenty that can help you track the variable expenses in real-time, too. Whichever tools you use, start with a very clear vision of your dream, with as many specifics as possible. The more specific and realistic you are right from the start, the better. Going through this will not only give you a realistic idea of how much money you need to raise, it also helps you go out and find that capital you’ll need to raise. Once live, make sure you’re tracking your expenses with tools like a POS system and restaurant scheduling software, and matching that against your expenses plan.