How to Analyze Restaurant Financial Statements and Identify Growth Opportunities

Restaurant financial statements are an untapped source of potential growth. After all, they are made up of data, and you can use data to drive improvement. 

How do you determine which data to look for to optimize your statements?

How to Analyze Different Restaurant Financial StatementsTo help you make the most of your restaurant financial statements, let’s break down how you should approach a few different types.

Balance SheetThis document provides insight into the current state of your finances (up to a specific date). 

Image sourced from sage.comHere’s what you can do with a balance sheet.

Identify revenue and expenses

What are you spending money on, and where are you earning the most? It’s always worth knowing your bestsellers and your biggest financial drains.

By identifying which dishes are your most profitable, you can start to make informed decisions. For example, you might use your best-seller to lead your next marketing campaign or decide to replace a dish that…