Running a Restaurant/food/liquor cost

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Question
We bought into a sit down pizza/sports bar. The managing partner has never done a food/liquor cost/inventory in a year that I have been an owner. If our sales are over $1,500,000.00 per year how often should you do an actual physical inventory and any software suggestions to calculate our costs ie food/liquor costs?
Thanks

Answer
Hello Roxanne,
In the establishment that you've described, you should be doing at minimum a monthly inventory broken down into Food Inventory and LBW (Liquor, Beer, Wine) Inventory.  If costs show higher than you want after calculating your COGS (Cost of Goods Sold) you should do a mid-month and weekly if necessary.

There are many excel spreadsheets out there can help you.
Hope this helps
Tony

Running a Restaurant

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Tony Figurelli

Expertise

I am well versed on all aspects of the restaurant industry. I have been President of a national chain of full-service restaurants, have operated in fast food, casual and fine-dining segments as well. I have opened(and successfully sold)my own restaurant and have opened over 35 restaurants in one capacity or another. I currently operate a consulting business, Meridian Hospitality Associates and can be reached at tonyfig@msn.com.

Experience

Over 30 years, see description above.

Education/Credentials
BA - Kansas State University

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