Restaurant Financial Statement Template

Instructor: James Walsh

M.B.A. Veteran Business and Economics teacher at a number of community colleges and in the for profit sector.

Let's look at a sample template that can be used for a restaurant's income statement. We will explore all possible revenue and cost areas so that you can customize it for your own use. Notes and explanations go along with the items.

Income Statement - Overview

This is a framework for a restaurant income statement (profit and loss). The income statement shows whether you made money of not. More importantly, it provides a wealth of feedback on your operation and identifies areas of concern when compared with prior months side by side. It should be designed for your individual establishment; if you don't need some of the items listed here, you can omit them. You may also wish to add cost or sales revenue items unique to your own business so you can track them. This model follows generally accepted accounting principles (GAAP). Numbers are added for realism only.

Sales Revenue

Sales can be broken down into as many or as few categories as you'd like. We will cover a format that is good for a full service restaurant that serves alcohol. Notes and suggestions follow some items. You can add catering as a separate category or do a separate profit and loss statement to see if that is working for you.

Food
Dinners $100,000 You may wish to add more categories for breakfast and lunch.
Appetizers $9,000
Desserts $5,000 Highly profitable, so you want to track this!
Subtotal food $114,000 Dinners + appetizers + desserts

Beverages
Wine $15,000 Use beverage items that apply to your establishment.
Beer $20,000
Non alcoholic $12,000
Subtotal beverages $47,000 Wine + beer + non alcoholic

Total sales Subtotal food + subtotal beverages = $161,000

Cost of Meals Served

This section covers the prime costs of a restaurant. They are what you pay for your food and beverages along with what you pay your employees to prepare and serve meals and drinks. These are variable costs that go up and down based on the volume of meals and drinks served. Variable costs are controllable.

Food Costs
Dinners $20,000 These are your costs for the food ingredients you purchase.
Appetizers $3,000
Desserts $1,000
Subtotal food costs $24,000 Dinners + appetizers + desserts

Beverage Costs
Wine $2,000 This is the cost of the beverages you buy from your distributor.
Beer $3,000
Non alcoholic $1,500
Subtotal beverage costs $6,500 Wine + beer + non alcoholic

Staff Payroll
Cooks and food prep $10,000
Food servers $12,000
Bussers and cleanup $4,000
Taxes and benefits $7,000 This includes the employer share of FICA and any benefits provided, such as healthcare.
Subtotal staff payroll costs $33,000 Total of the above items.

Total prime costs Subtotal food costs + subtotal beverage costs + subtotal staff payroll costs = $63,500

Other variable costs for napkins, dispensers and miscellaneous supplies can be tracked separately or just thrown in with food costs.

Fixed Costs

These items are fixed costs that do not change with the number of meals served. Fixed costs are generally not controllable once they are set.

Overhead

Management Compensation
Salaries $12,000 These are salaries for managers and assistant managers.
Bonuses $1,000
Taxes and benefits $4,000 This includes the employer share of FICA and any benefits provided, such as healthcare.
Subtotal management $17,000 Salary + bonuses + taxes and benefits

Occupancy
Rent $4,000
Property insurance $300
Property Taxes $500
Association dues $400 Use this if it applies for a neighborhood association.
Subtotal occupancy $5,200 Rent + property taxes + property insurance + dues

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