When starting a restaurant, consider for a best-practice restaurant financial model for your restaurant’s business plan.
SETTING UP PURPOSES AND FORMING A PLAN
Key questions/purposes which will be answered with the help of the restaurant financial Excel model are as follows:
– to understand, whether the restaurant business idea is profitable;
– to calculate the overall costs of starting a restaurant;
– to calculate expenses on salaries and wages of restaurant workers;
– to calculate expenses on start a restaurant and running a restaurant;
– to estimate costs of debt and time needed to loan payback;
– to calculate the safety stock level and maintain it;
– to craft an effective strategy for restaurant business development;
– to estimate how much does it cost to open a restaurant;
– to estimate how much do restaurant owners make.
The model consists of:
– Dashboard with core assumptions, financials, and outputs
– Workload-based on days open per week and weekends & holidays per year drivers;
– Revenue calculations based on sales mix and daily revenue drivers;
– Margin calculations based on food & beverage margin drivers;
– Flexible revenue & expenses setup
– Simple by efficient safety stock setup
– Expenses, Wages and staff strength model
– Summary Financial metrics on graphs
– Top Revenue & Top Expenses reports
– Break-even Analysis
– Debt Financing and repayment schedule
– Income Statement, Cash Flow Statement direct & indirect, and Balance Sheet for 5 years
– DCF Valuation of the Restaurant
BENEFITS OF USING RESTAURANT BUSINESS PLAN FINANCIAL MODEL
First and foremost, we did not hard-code any assumptions.
It is very helpful both for the client and financial modeler, as all the variables could be edited directly from the dashboard or from the revenue/expense/wages/etc sections.
Thanks to that, we could test different alternatives and make any edits literally on the fly.
Besides it, the fiscal year is editable. You may start your restaurant business plan financial model in the middle of the year.
Last but not least, the restaurant business plan financial model considered the interest and the repayment period of the debt.
In result, the user received maximally accurate financial statements summary.
Thus, our restaurant financial metrics are flexible and editable, what provides the client with great user experience and confidence in the profitability of your business idea.
Use our professional restaurant financial model Excel template when starting a restaurant. Financial planning is one of the crucial steps in starting a restaurant. Every restaurant can benefit from a best-practice restaurant business plan enhanced with a budget for starting a restaurant.Download DEMO