Online Seminar: How to Survive a P&L Review with Kai Wilson
Presented by the USBG Education Committee
January 20, 2022 at 11 AM Pacific/2 PM Eastern
How to Survive a P&L Review, with Kai Wilson:
You've done so well for your company ordering beverage products and pricing cocktails that you've now been invited to the Big Table - the P&L (profit and loss) Review! You've been handed a spreadsheet printout with a bunch of columns about forecasts, budgets, actuals, MTD, YTDs...the headache has started before you've even had a chance to look at all the rows and figure out what they mean. What the heck does EBITDA mean for God's sake? Fear not because the Bartender with an MBA is here to help make sense of it all and, even better, help with the likely questions you get peppered with at the meeting. From variable versus fixed costs to flow-through, you'll learn to talk like you've been a Bean Counter for years already. Heck, you might even get so comfortable with it you begin to think about owning that place of your own.
About Kai Wilson:
Kai Wilson is a self-described "crusty old bartender" who got "set right" about reaching for the cheap sweet and sour mix during the early years of the cocktail renaissance. He moved on to managing bars and beverage programs including at The Drake Hotel and The Blackstone Hotel, both in Chicago. Kai also taught spirits and mixology courses as well as general hospitality management for Kendall College, now part of National-Louis University.
When asked what a beverage manager's role entails, he replies, "If you can drink it, I'm involved."