what are the key financial metrics for a food business?

The food business requires owners and managers to understand and track their financial health, as well as their culinary prowess and customer service. Key financial metrics for a food business include Revenue, Cost of Goods Sold (COGS), Gross Profit, Operating Expenses, Operating Profit (EBIT), Net Profit Margin, Prime Cost, Inventory Turnover Ratio, Break-Even Point, and Current Ratio. Understanding these metrics helps businesses spot trends, anticipate issues, make informed decisions, and steer them towards sustainable profitability. By closely tracking these key metrics, businesses can spot trends, anticipate issues, make informed decisions, and ultimately steer the business towards sustainable profitability. By understanding and tracking these metrics, businesses can navigate the competitive landscape of the food industry and ensure a successful future.