Restaurant Revenue Forecast Super Fast Way

0 Comments

Revenue Forecast In restaaurant

Restaurant revenue forecast by daily forecasting of your sales and profitability can be done by using MMT ( Moving Monthly Total). The benefit of using this technique is that it is predictive in nature. It can allow you to know on a daily basis as to where you are headed and allow for interim correction.

Mango Kurry Kitchen & Restaurant Consulting in Mumbai India can establish a revenue forecasting tool which will enable you to know how your month, quarter and year ending. The tool can be built around every line item in the profit and loss statement.

Revenue Forecast In restaaurant

Restaurant Revenue Forecast

Mango Kurry Kitchen & Restaurant Consultant in India can develop and deploy a restaurant revenue and cost forecast tool. This will empower your team to take timely action.

Introduction

Most restaurants or organisation measure what they have earned or spent to day and some measure what they have earned or spent month to date. However, the executive need to know whether they are achieving their goals or have their eye on the ball.

Why Restaurant Revenue Forecast?

Its not enough to know that you had a great a day in revenue but its more important to know whether the highs and lows will affect your overall performance. Have to know where you are headed.

What is MMT?

MMT stands for moving monthly total. It takes the average of month to date figure and multiplies by no of days in the month.

How does it work?

Totals Days in a month : 30

A. Sales on day 1 for food: 97595

B.Month to date sale for food: 97595

C.Moving Monthly Total : 292780

The MMT is calculated by : (MTD/ no of days of sales incurred)* no of days in the month.

A Sales Day 2: 149593

B.Month to date sale for food: 247188 ie 97595 on day 1 + 148593 on day 2.

C.Moving Monthly Total : 3707820

The MMT is calculated by : (MTD/ no of days of sales incurred)* no of days in the month.  (247188/2)*30

Like wise this is done for beverage and a grand total is projected on a daily basis.

 of table No of days 30 Friday Saturday Sunday
51 No of covers 181 1 2 3
No of Hrs of Operation 8 PotenNotial no of hrs 13 Size of Restaurant 5200
Banquet Sale 6284 188510 8250    
Food Lunch Sales 24947 748419 14175 32735 57750
Food Dinner Sales 73187 2195611 83420 116858 91868
Total Food Sales 98134         2,944,030 97595 149593 149618
Bvg Lunch Sales 3003 90080 640 7600 3600
Bvg Dinner Sales 37690 1130699 49715 42576 46895
Beverage Sales 40693         1,220,779 50355 50176 50495
Food MTD         145,111         4,353,319 97595 247188 396806
Beverage MTD 50355 100531 151026
Food MMT 2927850 3707820 3968060
Beverage MMT 1510650 1507965 1510260
Grand Total MMT 4438500 5215785 5478320

Resources

An excel sheet to daily update the sales figures.

SMS sending software or phone.

Communication

The daily sales and MMT figures to be communicated to all concerned members via sms.

Conclusion

The MMT is a simple and an effective tool for management to keep in mind their goals.   This technique can be extended to keep quarterly , and yearly goals. 

The technique can be combined with expenses to forecast profitability.

Your comments.

If this helps, do leaves us a note or else call Mango Kurry, Kitchen & Restaurant Consultant in Mumbai India to develop one for you.

Mango Kurry Kitchen & Restaurant in Mumbai India can establish a revenue forecasting and expense forecasting system which will empower the team to take timely corrective action.

Mango Kurry strengthens operations by using a process approach to resolve your issues.

About the author 

Sartaj S Bedi

With 20-year restaurant industry expertise, offering insights and expertise in strategy, operations, and quality. He employs a holistic approach to guide clients towards strategic success.

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}
Subscribe to get the latest updates
>