1.How much of a restaurant's revenue is spent on food and labor costs?

2. What is a restaurant budget?

Explain why Restaurant Managers need a restaurant Budget to manage costs efficiently.

3. Define the a restaurant's costs and briefly discuss five main costs-expenses. Give examples.

4. Explain the use of sales forecasting to evaluate operating costs and expenses and discuss how can management track them to restaurant sales.

5. Discuss how a restaurant manager can optimize the restaurant finance management to increase revenue, to bring in more business and/or raise the prices on the menu.

6. Explain what is implied to balance the restaurant budget. Address your answer to refocusing the efforts on finding more and more ways to increase the bottom line profit figure.

7. Discuss Gross Profit and Net Profit pointing out the the difference and how each measurement reflects on the restaurant's overall financial health and stability. Give examples.

8. Discuss the importance of cash management and its usefulness when constructing the restaurant budgeting plan again. Give examples of cash inflows and cash outflows.

9. Discuss how to determine food costs for a new men and how this information to set up pricing on the men tems. Provide an example with a formula Price-cost.

10. There is no question nor doubt that technology systems can support restaurant managers' efforts to improve sales and profits through revenue management. Mention and discuss the elements where technology brings in finacial benefits to restaurant management

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Lets tackle each question one by one 1 How much of a restaurants revenue is spent on food and labor costs Typically a restaurants revenue is divided between food costs and labor costs On average food ... View the full answer