What are KPIs
KPI stands for Key Performance Indicator
They are crucial metrics to help you determine the health of your business.
There are lots of operational metrics that qualify as KPIs but the ones that are considered the most important are those that relate to your primary costs and gross sales.
This calculator helps you identify those KPIs.
KPIs are a way to get an overview of your restaurant or bar’s performance. The goal of every business is to generate a profit. KPIs help you hit certain goals tied to profitability.
How Established Restaurants Use KPIs
Established restaurants need to keep a close watch on how resources are being used to ensure long-term profitability and to make sure that partners and investors are seeing a worthwhile return on their investments.
How Startup Restaurants Use KPIs
Startup restaurants use KPIs in their business plan to entice investors and to show how quickly they can repay loans. KPIs also help you plan ahead when making projections, for costs, cash flow and more.
This simple KPI calculator will show you just how much you should be spending in three primary cost areas. These are the most important areas of cost to watch because they largely determine whether your restaurant or bar can keep the doors open long term.
To use the KPI Calculator, answer 6 simple questions about your business or use projected data from your business plan.
The KPI Calculator helps Restaurants and Bars answer these questions:
How much should you spend on food/beverage per month?
How much should you spend on rent/building costs per month?
How much should you spend on hourly labor per month?
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