Finance for Non-Finance Managers in the Food & Beverage Industry

Finance for Non-Finance Managers in the Food & Beverage Industry

Introduction

Financial literacy is a crucial skill for F&B managers to enhance profitability, control costs, and make data-driven decisions. This 2-day program is designed to equip non-finance managers with practical financial knowledge essential for daily operations, budgeting, and strategic planning. Participants will learn to analyze financial statements, optimize pricing, manage costs, and forecast sales to enhance overall business performance.

Outcome

By the end of this program, participants will be able to:

- Understand and Interpret Financial Statements – Analyze income statements, balance sheets, and cash flow reports to assess financial health.
- Implement Effective Cost Control Strategies – Monitor food, beverage, and labor costs to maximize operational efficiency and profitability.
- Apply Pricing and Profitability Techniques – Use strategic pricing, menu engineering, and break-even analysis to optimize revenue.
- Develop and Manage Budgets – Create, track, and adjust F&B budgets to ensure financial stability and growth.
- Make Data-Driven Financial Decisions – Utilize financial KPIs and performance analysis to drive operational success.

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No	Topic	Topic Description
1	Introduction to F&B Financial Management	Why Finance Matters for Non-Finance Managers Understanding financial impact on operations Role of financial literacy in decision-making Key Financial Terms & Concepts Revenue, expenses, profit, margin, cash flow Fixed vs. variable costs
2	Understanding F&B Financial Statements	Profit and Loss Statement (P&L) / Income Statement Revenue and cost of goods sold (COGS) in F&B Gross profit vs. net profit Identifying high-cost areas in operations Balance Sheet Overview Assets (equipment, inventory) and liabilities (loans, rent) How equity and retained earnings impact business Cash Flow Statement Basics Importance of cash flow in daily operations Difference between cash flow and profit
3	Cost Control in Food & Beverage Operations	Food & Beverage Cost Analysis Food cost percentage and beverage cost percentage How to track and reduce wastage Labor Cost Management Labor cost as a percentage of sales Strategies for optimizing staffing efficiency
4	Pricing Strategies & Profitability	Methods of Pricing in F&B Cost-plus pricing, competitive pricing, psychological pricing Menu engineering and its impact on profits Break-Even Analysis How to calculate the break-even point Identifying ways to improve profitability
5	Budgeting for F&B Operations	Why Budgeting is Important Planning for expenses and revenue fluctuations Setting financial goals for profitability Creating an F&B Budget Estimating fixed and variable costs Allocating resources effectively Monitoring and Adjusting Budgets How to track budget vs. actual performance
6	Forecasting Sales and Expenses	Techniques for Sales Forecasting Using historical data and seasonal trends How promotions and events impact sales forecasts Expense Forecasting in F&B Estimating ingredient price fluctuations Adjusting labor and overhead costs based on demand
7	Financial Decision-Making & Performance Analysis	Key Performance Indicators (KPIs) in F&B Finance Food cost %, labor cost %, gross profit margin Table turnover rate and revenue per seat Interpreting Financial Reports for Better Decisions Identifying areas for cost savings and growth Using financial data for strategic planning
8	Case Study & Practical Application	Real-World Financial Challenges in F&B Analyzing financial statements from a restaurant case study Finding cost-cutting and revenue-boosting solutions Creating a Simple Financial Plan for Your Business Developing a budget, forecasting sales, and setting financial goals