Why Most Restaurant Operators Never Create a Budget May 04, 2021

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...

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Restaurant Budget: How to Build Your Plan to Profitability and Freedom Apr 27, 2021

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...

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Restaurant Owner Secret to Success Is to Find Someone Who Gets Stuff Done Apr 22, 2021

The secret to being a successful restaurant owner. The answer? Find someone who gets stuff done. As an owner, you can’t do it all yourself. It’s just impossible. Plus, it’s not your job to do everything in the restaurant. Your job is to lead and take on more strategic activities...

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Restaurant Accounting Chart of Accounts Apr 20, 2021

Have you ever looked at your profit and loss statement and wondered what goes into the line items? Have you ever asked yourself what expense goes into that line item and decided not to call your accountant because you're fearful of getting charged more? Is your profit and loss statement something...

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Restaurant Budgeting 101 Apr 14, 2021

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....

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Restaurant Labor Cost 101 Apr 06, 2021

Restaurant labor cost 101 is a plan for any restaurant owner who wants to solve the end-of-the-week panic when you check your labor cost on your POS system and see that it’s too high, so you whip yourself into a panic and start cutting staff on your two busiest days. The problem with this...

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Restaurant Managers Must Learn Three Essential Lessons to be Empowered Mar 31, 2021

Let’s talk about how to get the most out of your management team instead of enabling them to do the minimum. In this episode of my podcast, The Restaurant Prosperity Formula, I want to share with you the three lessons you must teach your managers and supervisors that empower them to do...

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Food Cost Formula to Find Target for Independent Restaurants Mar 30, 2021

What if I told you you were asking the wrong question when you're searching for the food cost formula to find your target for your independent restaurant? If you want to know where your food cost should be to make money, I want to teach you the right question to ask and the best way to answer it....

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Restaurant Startup Mistakes I See Most Often in Independents Mar 23, 2021

I know a thing or two about restaurant startup mistakes and what I see most often in independents. If you're wondering if you made them when getting your restaurant open or if you’re looking to open your first restaurant and want to avoid them, this tip is for you.

Owning and running a...

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How to Prepare for Massive Increase in Restaurant Sales Mar 17, 2021

Let's talk about the massive increase in restaurant sales that is coming for every restaurant along with the quickest path to prepare for it. As vaccine shots go into more arms and restrictions are lifted in more cities and states, everyone who has been abiding by the stay-home recommendations is...

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Restaurant Financial Reports Independent Owners Misunderstand Mar 16, 2021

As a restaurant owner, are you afraid of your numbers? Do you look at your profit and loss statement only to see if you made or lost money the past month? Do you struggle actually knowing what goes into each line item? Well, you're in the right place because I'm about to talk to you about three...

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Restaurant Pricing Strategy to Get More Bang for the Buck Mar 09, 2021

If I had a dollar for every restaurant owner who is looking for a restaurant pricing strategy to get more bang for their buck, I would be worth a ton of money! Why? Because everyone ties making money with increased sales and the easiest way to increase your sales is to raise your prices. But...

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