Financial Secrets to a Successful Restaurant
While most folks choose to open a restaurant because they love cooking or enjoy entertaining, those skills alone do not necessarily lead to success in the very competitive environment that is today’s restaurant business. An important skillset, key to that success, is being able to read and interpret basic financial reports - the Balance Sheet and Profit/Loss Statement in particular.
The primary goal of this Workshop is to increase the participant’s comfort level in reading financial statements. In addition to learning how these reports are created, we will show how they can be used to increase profitability in day-to-day restaurant operations. Subjects to be covered will include: Mastering Prime Costs, Working with a Budget, and Understanding Cashflow.
LEARNING OUTCOMES
- Read and analyze a Balance Sheet and Profit/Loss Statement
- Initiate systems to regulate Prime Costs and increase profitability
- Setup projections and manage Cashflow
The Presenter: Michael Hirschberg
Michael’s career as a restaurateur began in 1974 when he opened Mandala Café, a tiny vegetarian restaurant in Santa Rosa, and ended with the sale of his 150-seat Sassafras Restaurant, in 2003. During those thirty years, he created, owned and operated five different restaurants, a wholesale bakery, and a catering company. In 2003, he “switched gears” and established Centralbooks, a bookkeeping firm that now manages the books and finances of forty local restaurants.
Registration Costs
General Public: $35 for early registration.
Veterans: Free admission is available for this class.
Students: $20
Contact Information
