Restaurant Financial Reports Independent Owners Misunderstand
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 important restaurant financial reports independent owners often misunderstand. Click below to watch the tip or keep scrolling to read more.
Maybe you think you're not naturally a numbers person....
Restaurant Accounting Tips to Build Cash Flow and Security - Podcast Episode 5
Restaurant accounting requires a special touch and there is no one I recommend more to independent restaurant owners than Anne Gannon, CPA.
In this latest episode of The Restaurant Prosperity Formula podcast, Anne and I talk about many important topics, including:
- Why it’s probably worth keeping your restaurant’s doors open right now, even if you’re losing money
- What financial numbers to know and pay attention to for restaurants
- Cash flow budgets and their benefits
- Why you...
Running a Restaurant to Have Cash Flow During a Pandemic
Learning to run our restaurant during a pandemic has been one of the greatest challenges of our lives. The restaurant industry was flourishing and then came March 2020, when, BOOM, we had to close our doors and literally learn to pivot our businesses so we could still have cash flow, even in a pandemic. Watch the video below or keep scrolling to read about your cash flow and how to make a plan for it.
Restaurants are cash flow businesses because cash pays the bills, not profits. Most...
3 Things You Must Know About Managing Restaurant Payroll
Let's be honest. You didn't get into the restaurant business so you could run payroll. But payroll is an unavoidable part of doing business. And if you don't do it right and don't pay attention, you could held liable.
Watch this video, or continue reading below, for three things you must know when it comes to restaurant payroll.
About Managing Restaurant Payroll
Normally I like to talk about making money, but in this case I want to talk about payroll. I want to help you stay out of hot...
Why Tax Planning Is Important for Restaurants
As a small business, your restaurant is fueling our economy. It also means, as a small business, you have to know about tax planning. No one really likes to talk about it, but tax planning is important for restaurants. Watch the video below, or keep reading, for more information about tax planning.
About Tax Planning for Restaurants
The last thing you want as a small business owner is getting to the end of the year and getting hit with a huge tax bill. If you don't know your...
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The Restaurant Prosperity Formula Podcast
Learn What the Most Successful Restaurant Owners Do
Listen in to hear me break down what the most successful restaurant owners do to run restaurants that make money and give them personal freedom.
Free Restaurant Evaluation
How do your restaurant systems measure up?
If you want to transform how your restaurant operates and make the money you deserve, it’s time to open yourself up to examination. Let’s dig into your operations and look for your key areas of improvement. You’ll walk away with a complete evaluation and a plan for how to make it happen.
Read the Book
Restaurant Prosperity Formula: What Successful Restaurateurs Do
Restaurant owners and managers – of independents, chains and franchises alike – who read this book will learn the systems and processes the most successful restaurant owners use to make money in the restaurant industry and have freedom from their restaurants.
