Chapter 3

Is the money in the till mine, or the shop's?

Tiền trong két là tiền quán, hay tiền của tôi?

The chapter's question

How much am I paying myself, and on which line does it sit?

Big idea

An owner who withdraws money at will has found the fastest way never to know whether the restaurant is profitable.

In this chapter

  1. Part 3.1

    Two Accounts

    Are the restaurant's money and my own money in the same place?

  2. Part 3.2

    The Owner's Wage

    If I hired someone to do what I do, what would that cost per month?

  3. Part 3.3

    When to Take Profit

    Do I draw profit on a schedule, or whenever the account looks full?

  4. Part 3.4

    Unpaid Family Labour

    How many hours a week do family members work that never appear as a cost?

The reading for this chapter is inside Conan School

This chapter has 4 readings, with case stories and exercises. Chapter 1 of Cash In, Cash Out is free to read right here.

Read in Conan School

Chapters of Cash In, Cash Out

  1. 1.Does a small shop really need financial statements?
  2. 2.How can a profitable shop still run out of cash?
  3. 3.Is the money in the till mine, or the shop's?
  4. 4.Busy today, but busy enough to break even?
  5. 5.Why is borrowing when the shop is short so risky?