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#22: Restaurant Accounting to Know to Run a Successful Restaurant

June 16, 2021 by David Scott Peters

In episode 22 of my podcast, The Restaurant Prosperity Formula, Anne Gannon, CPA of The Largo Group, and I offer our insight and experience on what the most successful restaurant owners we work with know about their restaurant’s numbers.

This episode is important because most restaurant owners choose the restaurant industry because they’re passionate about hospitality and making memories for people. They don’t go into business because they love calculating food and labor costs. Once they’re into the business, one of the most common things owners wish they could change is to know and understand their numbers better.

That is exactly what Anne and I cover in this discussion. Listen in to learn:

  • What the most successful restaurant owners have in common
  • What they know about their accounting
  • Where you can start to get a better understanding of the numbers that matter
  • Why cash flow is so important and how to generate it
  • What methods you can follow to make your bookkeeping match your needs
  • Tools that make this all easier for you
  • Tips for working with your bookkeeper and/or accountant so they get you what you really need and understand
  • More tips for making your numbers a priority

By the end of the episode, you’ll have confirmation that you can run a restaurant that makes money that helps you reach whatever goal you have for your future. You’ll also have access to resources to make it all happen.

Sponsor

This episode is being brought to you by Repeat Returns. If you’re a restaurant owner of a medium to high-volume independent restaurant, multi-unit or franchise operator and you’re looking for a proven and realistic solution to attract, grow, and retain customers... then you really need to visit Repeat Returns. Repeat Returns is a modern marketing platform created by a restaurant owner for restaurant owners... It studies each customer’s habits and patterns, predicts the most profitable outcome for your restaurant every single day, and deploys the marketing to make that happen. You never lift a finger. Click here to see if Repeat Returns is right for you.

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