Is the bank balance of your restaurant or bar going down or stagnant despite being profitable? In this video I walk you through a sample of your balance sheet and show you some of the common ways that your cash on hand can be going down despite running a profitable business.
Seeing into the future Building and following a good forecast, and the corresponding restaurant budget, is a key component to long term success in the restaurant business. In any business really. Just the process to develop your forecast forces you to evaluate the business in all the key financial areas. And it reminds you where […]
Finding all the cash Everyone knows that cash is king, but a lot of restaurant owners and operators do not fully understand the cash flow in their business. It is not just the money in your bank accounts and your floats. And it is not just the bottom line of your profit and loss statement. […]
The short answer is, never. If that’s all you were looking for you can stop reading now but if you want to dig a little deeper into the issue and learn about why it doesn’t make sense from the business and employee perspectives aside from not being legal then this is the article for you. […]