The podcast episode revolves around a coaching call session I had with restaurant owners facing financial struggles. The owners run a barbecue restaurant near a theme park and were experiencing significant losses. Despite resistance to change, the coaching session highlighted the importance of...
I talk about the importance of restaurant budgets all the time. One of the best parts of my job as a restaurant coach is completing a budget with a member. It fills my heart with joy to see the hope they feel with a real-life plan to achieve their restaurant goals. Completing the budget process...
If I’ve said it once, I’ve said it 1 million times: the two most important systems any restaurant should have are budgets and recipe costing cards. Let’s talk budgets. I am probably on at least one to two budget calls a week with members asking where their numbers should be....
I don't need to tell you that running a restaurant has always been full of challenges. You’re living it. Right now you’re dealing with costs increasing at a record pace and a real labor shortage. You already know you can't keep doing what you've always been doing. Something must...
Sometimes it feels like it’s getting harder and harder to make money in the restaurant industry as an independent restaurant. Well, that's because it is. You’re dealing with rising food and beverage costs, increased labor costs, a labor shortage, costs forced on you by third-party...
Your restaurant financial plan is important to the success of your restaurant and it is essential that you update it regularly. In this video, I will show you how using a restaurant financial plan, i.e., a budget, every day lays out your restaurant’s plan for financial success. Plus, I will...
What is a good profit margin for a restaurant? Have you been searching for a magic number? Do you want to know where you stack up against the competition? Are you worried that you're leaving a lot of money on the table, or are you just looking to make money for the first time? If you’re...
I've been preaching the importance of having a restaurant budget since becoming a restaurant coach in 2003. In fact, I can tell you, if you don’t want to depend on dumb luck, your budget is critical to your restaurant’s success. So why don’t more restaurant operators have and...
Have you ever found yourself going to last page of your profit loss statement just to see if you made or lost money? Have you ever been disappointed at the final number and just said your favorite F word and then throwing it on your desk? And that's about all you do with the profit and loss...
Restaurant budgeting 101 is a great place to start when it comes to trying to figure out your restaurant’s numbers. I’ve never wavered that the two most important systems any restaurant should have are budgets and recipe costing cards. Why? Because they're critical to your success....
Menu engineering to control restaurant food costs can be one of the most powerful tools an independent restaurant can have at their disposal. If you want to make the most profit on your menu, you have to reengineer it. But menu engineering is often thought of as a way to guide your customers into...
Do you want to hear about how to run a successful restaurant explained with plans for post-lockdown? Right now, operating with COIVD-19 restrictions feels like you are taking a beating. You're going up against Rocky in the first Rocky, and you are just getting beat to hell. But I’m here to...
