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(9:00 AM - 10:00 AM)
HOW TO ANALYZE A RESTAURANT FINANCIAL
STATEMENT
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Set up records following the Uniform System of Accounts
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Analyze the restaurant Profit & Loss statement for potential
problem areas
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Prime Cost comparison
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Calculate the key ratios. (We have over 30 ratios)
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Compare your Profit & Loss Statement to similar restaurants
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Establish realistic sales and profit goals
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How to determine sales needed for ideal profit
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Implement useful spreadsheets included with Seminar
(10:00 AM - 10:30 AM)
SETTING UP DAILY AND WEEKLY CONTROLS
THAT PROVIDE INSTANT INFORMATION
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How to know your profit every day and week (Takes no more than
20 minutes a day with our method)
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Seven daily reports that every successful restaurant needs
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How to get this key daily information
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Compare key ratios to standards on a daily basis
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How to quickly accumulate the MOST important information
(10:30 - 10:45 AM)
MORNING BREAK
(10:45 AM - 11:00 AM)
PURCHASING
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How to eliminate theft in various food buying practices
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Purchasing based on sales forecasting
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Evaluating purveyor purchasing programs
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The importance of checking deliveries and pricing
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Evaluating the current trend of buying at warehouse stores
(i.e. Costco)
(11:00 AM - 11:30 AM)
COSTING OUT THE MENU AND BAR
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New ideas for costing the most common items
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Buy pre-portion or cut?—The pros and cons
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Access on-line services for the busy restaurant owner
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Use the handy trim and shrinkage standards we provide
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How to quickly assess the impact of price changes
(11:30 AM - 11:50 AM)
PRICING THE MENU FOR PROFIT
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Quick ways to price specials
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New menu trends for the current economy
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How to price the menu for minimum wage increases
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How to consider coupons and discount meals
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Understand profit value and pricing
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Implement the newest menu engineering techniques
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Profit key - Food cost percentage variations in a restaurant
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How to use value-added meals to increase profits
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Pricing the menu to keep customers during downturns
(11:50 AM - 12:30 PM)
GETTING CONTROL OF LABOR COSTS
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Schedule employees using blind staffing techniques
Useful labor benchmarks Cross train employees instead of terminating them Evaluate open/close times to save labor costs Use a check list to insure compliance with various labor laws Programs used by chains to reduce turnover Attract the best people from today’s labor market Reduce turnover by making the work place fun The importance of an employee manual—We provide a sample Ways to keep your employees while maintaining labor cost percentages Effectively using overtime hours
(12:30 PM - 1:15 PM)
LUNCH BREAK
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(1:15 PM - 1:40 PM)
MAXIMIZING PROFITS IN A
RECOVERING ECONOMY
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Develop customer price points that appeal to everyone
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The best way to use discounts during slow days/slow times
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Develop birthday promotions that boost sales
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Try Gift Certificate sales incentives
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Add banquets - even with limited space
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Start customer based internet marketing
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The top 10 mistakes restaurants make when creating websites
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Discover programs that work better than two-for-ones
Offer Hot Items: value meals, small plates, appetizers, etc.
Design frequent diner programs that get great results Implement 3 kinds of catering programs that work When and how to renegotiate your lease agreement Create take-out sales for every restaurant Take advantage of social networking sites, the newest marketing tool
(1:40 PM - 2:15 PM)
SELECTING AND USING YOUR POINT
OF SALE SYSTEM
Ten controls every cash register system has to have At what sales volume is a POS system financial feasible? Finding affordable equipment for the smaller restaurant What your POS system can do for you - and what it can’t do Using spread sheet programs in the smaller restaurants Paring down the POS - which apps do you actually need? What is the importance of a qualified QuickBooks consultant? Our top ten recommended POS companies
(2:15 - 2:30 PM)
AFTERNOON BREAK
(2:30 PM - 3:15 PM)
TIP REPORTING AND UNIQUE RESTAURANT
TAX DEDUCTIONS
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What are the employer and employee tip reporting rules
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What's new with tip reporting agreements
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Explaining tip laws and other government rules to your employees
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FICA tax credit for everyone
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Shorter lives for depreciation of equipment and expendables
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Handling tip credit and uniform deductions
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Dealing with negative payroll checks
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Income tax treatment of allocated tips
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What is the IRS doing in 2009?
New FICA Tax billing techniques by the IRS The new immigration and I-9 changes How the new health care bill affects restaurants
(3:15 PM - 3:45 PM)
INCENTIVE PROGRAMS THAT EMPOWER
EMPLOYEES
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Train every employee to be a sales person
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Establish goals for individual employees
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Implement "front of house" sales programs—14 ideas
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Try incentive programs for "back of house" kitchen staff—7 ideas
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Set up a management incentive program geared to results
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How to start implementing these incentive programs now
(3:45 PM - 4:15 PM)
ARE YOU AWARE OF...
FACTA and PCI Compliance - how not to lose $100,000 Computerized Gift Cards for even the smaller restaurant Tableside credit card processing Hand held POS systems When to use Paging Systems
(4:15 PM - 5:00 PM)
CONTROLLING THE BAR
Evaluate your point of sale system Evaluate entertainment and other promotional programs Establish a standard liquor PC Rate the probability of bar thievery Using outside spotting and inventory services Setting up perpetual inventory controls Establishing a signature recipe file Costing the bar menu Using security systems to prevent theft Ten of the most common ways employees steal How to determine if thievery is happening to you
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