How To Calculate Your Restaurant Business Break Even Point - 4.5 Profitable Restaurant Owner Academy
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- Äas pĆidĂĄn 6. 08. 2024
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In this video youâll get a short overview of the revenue number you need to hit to financially break even, and eventually turn a mean profit.
Refer back to the excel from Module 4 Lesson 1.
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đ ADDITIONAL RESTAURANT BUILDING RESOURCES
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đ ABOUT THE COURSE
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NOTE: This was a paid course that was released in 2020 but is now released for free as I have left the food industry. This is my gift to you food entrepreneurs.
Please understand that there may be some outdated info or visuals for this reason.
However many of the theories and overall business fundamentals are still critical for a profitable and sustainable business.
Please smash the LIKE button and Subscribe [swiy.io/WKLYT] to keep this FREE course material up and running!
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This is module 4 lesson 5 of the Profitable Restaurant Ownerâs Academy by Wilson K Lee.
In this course, youâll learn how to how to start a profitable restaurant with no experience. I will go through the steps from figuring out your restaurant concept, to your restaurant location, to building your team, to marketing it.
This is one of the most comprehensive restaurant business courses out there and includes many examples from my personal experience building a ice cream franchise.
This course has theories and examples that are relevant for many different types of food businesses.
The course consists of 8 modules and 13+ hours of content through 55 videos.
âș Module 0 is on The Next 4 Months & Timeline.
âș Module 1 is on The Alignment: Foundations of You.
âș Module 2 is on The Alignment: Your Restaurant Concept.
âș Module 3 is on The Alignment: Foundations of Your Business
âș Module 4 is on The Alignment: Foundations of Your Business Finances
âș Module 5 is on The Connection: Your All-Star Team
âș Module 6 is on The Connection: Your 1000 Loyal Fans
âș Module 7 is on The Connection: Your Financial Freedom
âș Module 8 is on Bonus Materials
#wilsonklee #restaurantbusiness #restaurantmanagement
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đ€ ABOUT WILSON:
Iâm Wilson, your new restaurant business partner. Iâm here to help turn your food and beverage concept into a reality with expert tips & tricks for success.
I have got nothing to sell you as Iâve left the food industry as of 2022.
My videos are based on years spent in the industry building multi-million dollar businesses, including my own international dessert chain (720sweets.com/) with locations spanning the globe. Since my franchise was acquired (2020) itâs been my mission to share this knowledge with people like you who have great ideas, but just canât seem to break through.
If I did it all with no experience, so can you. I know firsthand the struggles and mistakes most entrepreneurs make, and want to show you exactly how to avoid them.
All that I ask is if you find the content valuable, please smash the LIKE button and consider Subscribing. Share with a friend who can benefit from this so we can continue to spread more positivity around the world.
Iâve helped hundreds of restaurant owners and entrepreneurs create explosive Food & Beverage businesses. You donât have to take my word for it. Iâve been awarded Top 30 Under 30, Young Entrepreneur of the Year, Top 10 Emerging Entrepreneurs, and recently a Forbes Business Council Member.
Find more great resources, check out www.wilsonklee.com/
What is the correct formula?
I got confused đąđą 11500?
No link for excel
Break even = point in TIME when you recover all that you put in. Normally in a good business venture itâs about 2 to 3 years.
So if Ben Burger has fixed cost of $200,000 investment, his revenue is $24,500/month of which 70% is variable. So his break even is $200,000 / (24,500Ă(1-0.7))= 27 months which is ok.
A better red flag for restaurants can be calculated by reversing the formula using 60 months as the maximum break even, in which case the maximum variable cost is 85% of sales. During recessionary periods in the economy, this would be 80% and roughly = 15% rent + 35% labour + 30% COGS. This was Wilsonâs original rule of thumb when he first started his CZcams presentations.
What was the correct formula ??
3450/.30 you will get that 11,500
Please double check you formula
What is the correct formula?
Please double check your formula, it's wrong the way you have put across .