Operating a Profitable Restaurant – Episode 1
Budget or Bankruptcy: the saying seems harsh; however, and unfortunately so, it’s predominantly true for most restaurant operators. Many folks run their businesses like they’re playing Plinko on The Price Is Right. They drop money in at the top, watch the coins bounce around on the way down while they hope and pray that there is something for them at the bottom. Plinko can be used in restaurant accounting as a metaphor for your P&L or Income Statement. Your revenue is at the top and each bump on the way down can easily represent your various expenses; at the bottom you have varying degrees of profit, loss, and of course… bankruptcy.
Listen to this weeks episode of Operating a Profitable Restaurant to see how RSI Strategic Development Officer, Matt Vannini, likens your budget to a diagram showing you which path to aim for that gave you the greatest chance of hitting the big winner.