The Restaurant Owner's Financial Management Scorecard

Most restaurant operators would probably agree that keeping guests happy is the most important requirement for success in this business. Even so, a restaurant that's regularly filled with happy customers isn't necessarily a successful one. It's got to make money, too.

Successful restaurants, ones that consistently delight their guests and achieve their profit potential, are typically run by operators that know how to market, operate "and" manage the financial side of their restaurant. Almost without exception, financially astute operators make better decisions, have more control of their businesses, and maintain smoother relationships with bankers and investors than those who are merely great promoters or even brilliant in the kitchen.

How are you doing with managing the financial aspects of your restaurant? Here's a checklist of items practiced by many of the country's top independent and multi-unit operators. To see how you stack up, note which ones are currently being done in your restaurant.