Financial Planning for Bars and Restaurants
Every food service business must have a document that reflects its economic and financial reality. This is essential for analyzing the restaurant’s financial resource needs, as well as its viability and profitability.
Consultant and Executive Chef, Co-Founder of Passion&Gastronomy Consulting
Learn to create an economic and financial plan for your new restaurant project, or to optimize your existing business.
This online course will provide you with a solid foundation to create your own financial plan for a bar or restaurant. It will highlight why a financial plan is essential throughout each step of the process prior to opening. Vicente Fortea will guide you through the process of creating your plan, tailoring it to the business model you have in mind, or to the data of your current establishment, if it is already in operation.
Throughout the process, you will learn how to evaluate income and expense budgets, as well as how to calculate the investment you need. This analysis will enable you to examine the operational and economic viability of your business, as well as to identify the financial resources that are essential in order to launch your project.
The financial plan will become a fundamental tool for attracting finance, collaborators and strategic partners. The course also includes practical templates that will help you to develop your own financial plan efficiently.
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Course Syllabus
Course Content
Chapter 2 - Introduction to the financial plan
Chapter 3 - KPI benchmarks
Chapter 4 - Investment
Chapter 5 - Financing
Chapter 6 - Sales budget analysis
Chapter 7 - Preparation of the costs budget
Chapter 8 - Income statement
Chapter 9 - Balance Sheet
Chapter 10 - Liquidity analysis
Chapter 11 - 5-10 Year Investment Projection
Chapter 12 - Investment analysis
Extra bonus: Financial Plan Template
Carry out a comprehensive financial analysis for the creation or consolidation of your bar or restaurant project.
What you'll learn
In this course you will learn, through simple steps, how to effectively write your financial plan. It will teach you what data you need to collect, and how to obtain and organize that data, in order to build your investment, income, and expense budgets step by step.
You will be provided with the key elements to properly prepare an income statement for your business and evaluate whether its daily operations will generate enough resources to recover the projected investment. Additionally, it will help you identify short and long term financial resource needs, as well as the liquidity required to sustain your business in the coming months.
You will learn to analyze the economic and operational viability of your project, calculate the gross margin, and have the tools you need to professionally prepare your annual financial statements.
Who is it for?
This course is aimed at all hospitality professionals who need support to analyze the economic and financial reality of their business.
Material needed
- Excel at user level
- Word at user level
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Meet your Instructor
Consultant and Executive Chef, Co-Founder of Passion&Gastronomy Consulting
His passion for gastronomy has led him to work with the best chefs, restaurants and gastronomic concepts around the world.
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Frequently Asked Questions
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Don’t understand a lot of it but math and such was not my forte