Episode 56

What Are Some General Targets for a Restaurant Budget?

Published on: 5th October, 2022

If I’ve said it once, I’ve said it 1 million times: the two most important systems any restaurant should have are budgets and recipe costing cards. Let’s talk budgets. I am probably on at least one to two budget calls a week with members asking where their numbers should be. Some calls are a simple numbers review because we have already created their budget and now they are measuring for success. Many other calls are to create a new member's budget. Once the budget template has been verified, it’s time to get down to business to create each member's plan for success. The most common questions I get when we work together revolve around where should my numbers be? In this episode of my podcast, The Restaurant Prosperity Formula, I’m going to walk you through the various options for your budgeted numbers because there is no one answer that is right for everyone. There is no average that every restaurant owner should aim for. Once I explain how I teach a restaurant owner where their restaurant budget numbers should be, I’ll talk about the target profit margin and why knowing your numbers is so important to your restaurant’s success.

Learn the 3 principles the most successful restaurant owners follow and how you can learn to follow them, too: https://dsp.coach/principlesx3

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About the Podcast

The Restaurant Prosperity Formula
For Independent Restaurant Owners
If you’re ready to stop being a prisoner in your restaurant and finally have the life you’ve been working for, you are in the right place. Podcast host David Scott Peters has been coaching restaurant owners since 2003 how to transform their restaurants and their lives by becoming the leader their restaurant requires for success. He has taught thousands of other restaurant owners how to do less and lead more, how to delegate and trust their teams, and use task-based systems to make it all work. The lessons he teaches and the solutions for the moment he offers are based on his Restaurant Prosperity Formula. To learn more about David and his formula, visit davidscottpeters.com or pick up a copy of his book, "The Restaurant Prosperity Formula: What Successful Restaurateurs Do."

About your host

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David Scott Peters

David Scott Peters is a restaurant coach and speaker who teaches restaurant operators how to cut costs and increase profits with his trademark Restaurant Prosperity Formula. Known as the restaurant expert in the industry, he uses a no-BS style to teach and motivate restaurant owners and managers to take control of their businesses and finally realize their full potential. Thousands of restaurants have used his formula to transform their businesses.