Budgeting and Forecasting

When it comes to budgeting and forecasting it is important to be objective and realistic.  Below, you can download an excel spread sheet that we created to help you with this.

This is how I would suggest using it and filling it out.

Initially

  1. Fill out the “Business needs” page by determining your peak meal periods, breaks and when employees are needed.
  2. Fill in the date, salaries, names and positions.
  3. Fill in in your projected sales for each day.  You can obtain this information by looking at a few different things:
    • The sales from the previous year.
    • An average of the sales for the last 3 weeks (for example, if determining the sales for Tuesday, look at the last 3 Tuesdays).
  4. Fill in the hours that each employee is scheduled to work, noting the money that you have to spend to hit your labor goals based on your forecast sales.

Ongoing

The yellow areas on the “Financial Schedule” are meant to be updated each week to help you schedule employees and calculate your labor accordingly to your sales.  This information is appropriate for management to know, but not for all employees.  That’s why there is the “Posting Schedule.”

The schedule you fill in on the “Financial Schedule” will automatically transfer over to the “Posting Schedule” so that you post the schedule without including the sensitive information.

Download the Scheduling,Budgeting and Forecasting Tool here.

About the author, Shawn

Chef Shawn has worked in almost every segment of the foodservice industry. He holds business degrees and certificates in Culinary Arts, Hospitality & Tourism Management, Accounting and Professional Sales. He is Certified Executive Chef (CEC) and a Certified Culinary Educator (CCE) through The American Culinary Federation. A Certified Culinary Professional (CCP) through the International Association of Culinary Professionals. He is the author of The First Timer’s Cookbook and The First Timer’s Bakebook. His work has been recognized nationwide as well as being a regular contributor to numerous food service publications and outlets and is the recipient of numerous awards-most recently the 2015 Culinary Educator of the Year through the local American Culinary Federation’s chapter-Beehive State Chef’s Association.

He the owner of multiple food service businesses and currently the host of the Business Chef Podcast.

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