Outpacing COVID-19: A Profit Planning Tool for Restaurants

Due to the COVID-19 pandemic, uncertainty regarding future sales is at a historical high for the restaurant business (Haas, Kuehl, Moran & Venkataraman, 2020). Consequently, owners and managers are under tremendous pressure to make critical decisions, often to merely survive. With these unprecedented challenges, future circumstances are extremely uncertain, and we are to provide them with financial planning models to help restaurant owners and managers navigate and prepare for their uncertain financial future better (Yunker & Yunker, 2003). The model presented here is excel sheet-based which is easy to use following seven steps, especially for small and medium sized restaurants and foodservice businesses to estimate and plan their profit and cash flows during the COVID-19 crisis. This model will be important to ensure the restaurant businesses to be more effectively able to plan their operations during and post COVID-19.

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Work Title Outpacing COVID-19: A Profit Planning Tool for Restaurants
Subtitle Profit Planning Tool for Restaurants
Access
Open Access
Creators
  1. Amit Sharma
  2. Seoki Lee
  3. Michael Lin
Keyword
  1. Restaurants, profit planning, cost-volume-profit
License Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)
Work Type Report
Publication Date August 14, 2020
Subject
  1. Financial planning
DOI doi:10.26207/1xey-jq83
Deposited August 14, 2020

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Version 1
published

  • Created
  • Added Outpacing_Covid-19_Profit_planning_for_restaurants_-_Excel_model_template.xlsx
  • Added Outpacing_Covid-19_Profit_planning_for_restaurants_8.26.20.pdf
  • Added Creator Amit Sharma
  • Added Creator Seoki Lee
  • Added Creator Michael Lin
  • Published