ON THE LINE

Budget + Spend

"We believe that if we take this concept and educate the team about the financial realities of a business and make them more conscious of what makes the business profitable, then we all win." - Henry Patterson, Former Restaurant Owner, CEO and Founder ReThink Restaurants

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What is the Average Restaurant Profit Margin? Tips for Benchmarking and Optimizing

Learn how to track and optimize your restaurant profit margins and take a look at average margins across the industry to see how you stack up.

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How to Manage a Restaurant Balance Sheet

Learn how to create and manage a restaurant balance sheet to assess and improve your restaurant's finances.

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How to Calculate Your Restaurant's Prime Cost

Prime costs are the sum of the total cost-of-goods-sold (COGS) and the total labor costs. Learn why it's a critical financial and operational restaurant metric and how to track it.

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How to Read a Profit and Loss Statement

Learn how to create and analyze a profit and loss statement using this free restaurant income statement template and guide.

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Which Inventory Costing Method Is Right for Your Restaurant?

Inventory costing can help make the process of managing inventory easier — and more profitable. Here are the differences between the FIFO, LIFO, and WAC methods.

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How To Calculate Liquor Cost in Your Bar or Restaurant

Here is a liquor cost formula to track your spending, inventory, and find ways to save.

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How to Calculate Restaurant Cost of Goods Sold

Calculating your restaurant cost of goods sold might seem like a pain, but it's an important part of making sure your business is healthy. Here's an easy way to calculate it.

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How to Calculate Your Restaurant Labor Cost Percentage

Learn to calculate restaurant labor cost by hours worked, labor cost as a percentage of revenue, and labor cost as a percentage of restaurant operating costs.

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How to Calculate Restaurant Performance and Financial Metrics

Learn the seven most important restaurant metrics owners need to track and how to calculate them.

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How to Understand and Streamline Your Restaurant Accounting

Proper accounting practices empower you to monitor the financial performance of your restaurant to control cost and maximize profitability.

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How Restaurants Can Navigate Food Inflation and Protect Profitability

Put rising food inflation into historical context and uncover action items to help protect profits and remain agile in the face of sustained economic pressure.

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How Balancing Occupancy and Profitability Can Help Restaurants Succeed

Learn how restaurants can maximize returns by boosting occupancy and controlling profitability.

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Food Prices Rising in 2022: How to Take Control of Costs

Learn how to wrangle control of costs and stop getting cooked by rising food prices.
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