The ability to be proactive as opposed to reactive.The opportunity to adjust for unforeseen circumstances.Understanding restaurant monthly expenses.We understand the nuances of the restaurant industry and can apply that knowledge to actionable insights within a budget, allowing for the following: RASI’s complete financial reporting, including our budgeting expertise, is a significant factor behind our clients’ success 91% of our first-year restaurants remain in business after year one when working with us! RASI’s hospitality-specific accountants utilize historical metrics enabling operators to build out more accurate budgets, increasing the precision of your forecasting. Without a clear picture of your restaurant’s monthly expenses and other key financial metrics, it’s nearly impossible to understand your financial health, properly forecast, or enable yourself the ability to adjust on the fly when needed. The lack of a restaurant operating budget is a primary reason why 60% of restaurants fail within the first year and 80% within five years. However, without this critical financial information upon which to act, it’s impossible to know whether you’re heading for a profit, a break-even scenario, or a loss.
RESTAURANT BUDGET PLANNING HOW TO
Too often, managers and entrepreneurs don’t know how to budget for a restaurant.
A strategic and accurate restaurant budget plan is your establishment’s roadmap to success In other words, it’s the most trustworthy guide to your profit. Your restaurant may have a great menu, loyal customers, and an unbeatable location, but without effective restaurant budgeting, none of those factors matter.
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