Thank you for purchasing the essential money matters toolkit.
Below are your downloads. Here are just a few notes to help get you started……
Right click on each of the links and select ‘Save Link As‘ or ‘Save Target As‘
You will need to save to your computer giving it a name you can easily remember, but I suggest you mark it as your template.
If you accidentally end up opening the document you will end up with a (read-only) version. You can simply select ‘file’, ‘save as’ and rename the document as your master template.
Each template has an example tab for you to follow and a master template tab. You will need to copy the master templates each time you use the spreadsheets so you always have a blank one to complete for next time.
To make extra copies you have 2 options:
Create a new document (recommended)
- Open the document
- Click ‘file’, ‘save as’ and then give it a new name. Your template will remain intact for next time.
Create an extra tab in the same file:
- To copy the Master Template Right click on the template tab.
- Select Edit, then Copy or Move Sheet, select (move to end), tick the box where is says Create Copy, then OK.
- The new spreadsheet will appear as the last tab, and will be called Template (2).
- Double click on the tab, and the text will appear highlighted.
- Now type in your new name for the tab.
All the spreadsheets have protected cells, which contain formulae. These are all the yellow cells, so you won’t be able to change the content of these without unprotecting the worksheet.
You may also need to amend the tax rate for your country. It is currently set to 20% for the UK market, but it can easily be changed. I recommend you do thison your master template before making any copies so you only have to do it once.
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Here are your downloads
Here are your downloads
1 Recipe Costing Template
Once you open up the spreadsheet you will see 3 tabs.
This guides you through the different areas of the spreadsheet. It will show you which cells to complete, and which contain the formulas you need to leave in order for the template to calculate your costings.
This is your Master Template.
You need to copy this sheet, making one sheet per recipe. If your selling prices include tax, check the tax rate for your own country or state and amend BEFORE you copy the master template. If you do this on the master, it will save you having to change for each new recipe.
To copy the Master Template select Edit, then Copy or Move Sheet, select (move to end), tick the box where is says Create Copy, then OK. The new spreadsheet will appear as the last tab, and will be called Master Template (2). Double click on the tab, and the text will appear highlighted. Now type in your new name for the tab e.g. the recipe name.
This is a worked example for a simple recipe.
You may find it useful to keep separate files for each class of recipe e.g. breakfast dishes, starters, entrees, and deserts. In order to create extra files simply open up the spreadsheet, select File, then Save As, and then give it a new name.
This simple template will give you all you need to cost out your recipes and calculate your gross profit margin. You can adjust the tax rate for your own country or state to ensure you get the full selling price.
It will also tell you what gross margin you are achieving at your current selling price.
Having a set recipe ensures consistency and allows you to check you figures before you produce a dish, to ensure it is going to give you the profit return you need to stay in business.
2 Star Spotters
This is your menu engineering template and notes.
The notes page talks you through the example and what to look for when completing the spreadsheet.
3 Reality Check Profit and Loss Template
Before completing this you will need to know:
- Your gross sales (both fixed permanent staffing including national insurance, and temporary or casual staff)
- Your consumption or cost of sales (to do this accurately you will need to take stock)
- Your wages bill
- Your fixed costs such as rent, rates, utilities and other general overheads.
4 Profit Ready Reckoner
Otherwise known as the Profit sensitivity analysis template.
There are 2 versions of this:
Use this version for a simple at a glance review of your figures.
This has additional columns which enable you to calculate your revenue per available room. You could also use this for spa treatment rooms or golf tees.
Once you open up the spreadsheet you will see 3 tabs.
This guides you through the different areas of the spreadsheet. It will show you which cells to complete, and which contain the formulas you need to leave in order for the template to calculate correctly
This is your Master Template. You need to copy this sheet for each analysis you do. However, I recommend you add in your current sales information (on row 4) BEFORE you copy the master template. If you do this on the master, it will save you having to add this information for each sheet.
This is a worked example in case you get stuck
Use this to calculate the impact of changes on any one of the following:
- The number of customers
- The average spend per head
- The average number of visits or stays per customer
Use the spreadsheet to see the impact of making any changes before you make them. You can review the impact on just once, or several variables, on your margins.
Remember you can also use this to measure the impact of reducing sales, e.g. if you ever feel you need to drop a price or rates, or you know you are going to have a quiet period e.g. in January. By reviewing the impact before the event you can make an informed decision.
5 Your Bonus Event Estimator
Here is the link to download the template
This series of spreadsheets allows you to cost all aspects of your function, and totals them on a summary sheet. You can then work out your selling price. Or if the selling price is fixed, you can work backwards to see how much you can afford to spend per head, to help you and your team keep tabs on what you are spending, and still come out with a healthy profit.
There is also a sheet that shows your breakeven point, so you know how many customers you need to get through the door before you are in profit.
Invaluable for functions, events and promotions
How to use the template
- Open up the spreadsheet and save as (new name) to ensure you keep a master template.
- All yellow cells contain formulae and are protected. Do not try to over type these or you will lose the formula.
- Once you open up the spreadsheet you will see the first tab is your guide to using the template.
This guides you through the different areas of the spreadsheet. It will show you which cells to complete, and in which order.
This are you master templates. You will want to make copies before adding data.
However, before you do this I recommend you enter your tax rate on sheets B,C and D. This way you wont need to add this to every file you create.
In order to create extra files simply open up the spreadsheet, select File, then Save As, and then give it a new name.
Start by entering your costs on the individual sheets. The totals from these sheets will be carried forward to Sheet A.
This sheet will calculate your cost per head based on your projected numbers. Once you have entered your variable costs onto the individual sheets, enter your projected sales figures on sheet A Cell C16 and your fixed costs in rows 16-23.
Check the tax rate if necessary to reflect the tax rate for your country / state
Use this tab to calculate your selling price to achieve your margin
Cost per head figures in line 3 will calculate automatically based on totals from sheet A Enter your target gross margin percentage in cell D4, and remember to check the correct tax rate in Cell C7.
Use this sheet if you need to work backwards to calculate your maximum costs. This is useful if you have already agreed the sales price or know the maximum your market will stand.
Check you tax rate in Cell C3
Enter your target gross margin percentage in Cell D4
Use this sheet to calculatehow many units you need to sell to break even.
Enter the maximum selling price your market will tolerate and enter this in cell D2. Check your rate of tax (C3) Enter a percentage figure for overheads (D5)
Sheets M- P
These addition sheets will help you plan for additional resources needed, your project plan, and help you evaluate the financials and your marketing after the event.
Good luck with taking your Monay Matters in hand.
Do let me know if you need any help.
P.S. Don’t forget to take advantage of your 30% discount on all the other tools in the Hospitality Business Toolkit.