A restaurant is like any business: it has different functions, all of which must be managed effectively to grow. Culinary Operations, Hiring, Accounting, Supply Chain, Training, Legal, Marketing, and Customer Service are but to name a few.

Restaurant owners often handle those functions alone. This is the weakest link in the chain, and often this is described as “Spinning Plates”, where an owner goes from putting out one proverbial fire to the next, leaving little to no time to focus on tasks that will grow and improve the brand.

Critically, F&B accounting is where an owner finds out whether all the long hours have been worth it. Constructing and analyzing a Profit and Loss Statement is essential to identify where your business needs improvement from a financial standpoint.

Please tune in to our upcoming video discussing what a P&L looks like, what each line means, and how you can leverage this information to manage your restaurants’ financial performance.