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Kasey Anton, the author of Profit First for Restaurants and founder of Spark Business Consulting, shares her thoughts with Mike shedding light on why some restaurants fail. Kasey has valuable advice on transforming your restaurant into a lucrative venture. Kasey will discuss the cost of a menu item, labor costs and the vital role culture plays in business success. Her book is available now, and the workbook is coming out shortly. Get a copy and see how profitable your restaurant can be. 

 

IN THIS EPISODE:

• [00:35] Kasey explains why she wrote the book Profit First for Restaurants
• [02:19] Can restaurant partnerships be profitable 
• [03:38] What accounts did Kasey create to make the system more suited to restaurants
• [06:00] Controlling food costs
• [08:47] How does a restaurant typically implement the Profit First strategy
• [09:49] Kasey tells her “Five Guys” story and why providing extra fries still makes the business profitable
• [12:28] Kasey shares what type of restaurant might profit the most from her book, and she explains what the workbook to go along with the book will be like

 

KEY TAKEAWAYS: 

• Many restaurant owners need to account for the cost of plated food properly. You will lose money if you don’t calculate the add on’s.
• Many restaurants lost money during Covid simply because they needed to add the container costs, boxes, stickers, etc.
• Culture is just as crucial to a restaurant as its menu selection.

 

Mike Michalowicz - Website

Mike Michalowicz - Linkedin

Mike Michalowicz - Twitter

Profit First Professionals - Website

Mike Michalowicz - Books

 

Kasey Anton - Website

Spark Business Consulting - Website

Profit First for Restaurants - The Book

GUEST BIOGRAPHY: 

Kasey Anton is a former Restaurateur turned Bookkeeper.

After living the high-end (and low-end) restaurateur lifestyle and experiencing the BEST and WORST that the world has to offer, Kasey decided to take her knowledge and true-life experiences and turn it into a business that can help others navigate some of the pitfalls of entrepreneurship.

One of the biggest lessons learned on her journey? NUMBERS DON’T LIE. But we sometimes lie to ourselves – especially about business. So, knowing your numbers, the true, accurate, real, down and dirty, no-holds-barred NUMBERS of your business is KEY to the success of your business. And Kasey knows her numbers, and she’ll make sure you know yours too.

Along her journey, she came across a real game-changer known as “Profit First” – a simple yet ridiculously effective cash management tool that EVERY business should be using (and I mean EVERY). Once discovered, Kasey became a Profit First Professional Mastery Member, one of less than 50 in the world, and now works with businesses all across the US to help “eradicate entrepreneurial poverty.”

Kasey’s sole mission, and she and her Team have chosen to accept it, is to help business owners take control of their businesses, control their numbers, drive the business toward its truest vision, and be rewarded for that valiant effort.

Fun Fact? Kasey is a ridiculously obsessed NFL fan (GO PATRIOTS!) and has flown on the Team Jet to a game in Buffalo and watched the game from the sideline, standing near all the players.

 

ABOUT HOST:

Mike Michalowicz is an entrepreneur and New York Times and Wall Street Journal best-selling author of Profit First, The Pumpkin Plan, SURGE, Toilet Paper Entrepreneur, Clockwork, Fix This Next and Get Different. BusinessWeek called Toilet Paper Entrepreneur, a business cult classic. His books have been translated into ten languages, and Mike has had the privilege to speak on stages worldwide because of his passion for connecting with entrepreneurs.

As the founder of Profit First Professionals, he empowers accountants, bookkeepers, and business coaches with the tools and techniques to maximize client profitability, allowing them to uplevel from being one of the 83% of small businesses operating check-to-check and struggling to be profitable to becoming one of the 17% of thriving and highly valuable businesses with cash in the bank to correlate to profitability. Mike also co-founded the business growth consultancy Provendus Group and has successfully founded, built, and sold two technology service-based companies. He is passionate about sharing his experiences and advice with entrepreneurs and sits on formal and informal advisory boards while maintaining relationships with angel and early-stage investors.