Restaurant Budget Requires History

 In 1. David Scott Peters, Operations, The Numbers, Tip of the Day

By David Scott Peters

Restaurant Tip of the Week

Know your history to forecast your future

You can’t know where you’re going until you know where you’ve been. Forecasting is a big part of budgeting, scaling up for labor, purchase allotment and a whole lot of other systems that can make your restaurant an efficient machine of profit. But you can’t forecast your sales if you don’t know what you’ve done in the past. Even if all you can muster is a couple months worth of invoices, payroll reports and some sales figures — mixed together with memory —it’s better than nothing. You must know your history to accurately forecast your future.

David Scott Peters is a restaurant expert, coach, trainer and speaker, specializing in systems for independent restaurant owners. He is the nationally acclaimed restaurant coach whose unique “SMART Systems” approach to boosting profits has earned him the title of, “The man who can walk into any restaurant in America and find $10,000 in undiscovered cash before he hits the back door – Guaranteed!” Visit www.TheRestaurantExpert.com for more.

While creating a budget is vital to a restaurant being profitable, it’s often way too difficult and time consuming for a restaurant owner to put one together. With Budget Creator Software from TheRestaurantExpert.com, even a computer novice can generate a budget that will get results fast!

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