Restaurant Budget Requires History
By David Scott Peters
Restaurant Tip of the Week
Know your history to forecast your future
You can’t know where you’re going until you know where you’ve been. Forecasting is a big part of budgeting, scaling up for labor, purchase allotment and a whole lot of other systems that can make your restaurant an efficient machine of profit. But you can’t forecast your sales if you don’t know what you’ve done in the past. Even if all you can muster is a couple months worth of invoices, payroll reports and some sales figures — mixed together with memory —it’s better than nothing. You must know your history to accurately forecast your future.
David Scott Peters is a restaurant expert, coach, trainer and speaker, specializing in systems for independent restaurant owners. He is the nationally acclaimed restaurant coach whose unique “SMART Systems” approach to boosting profits has earned him the title of, “The man who can walk into any restaurant in America and find $10,000 in undiscovered cash before he hits the back door – Guaranteed!” Visit www.TheRestaurantExpert.com for more.
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