Your P&L is the most important document to convince investors of your restaurant's profitability. Many hospitality entrepreneurs present only revenue figures, but smart investors especially want to see how you manage costs. Here's how to turn your P&L into a convincing investor presentation.
Why investors look at your P&L
Investors and subsidy providers don't just judge your revenue, but especially how well you control your business. A P&L shows three critical things:
- Cost control: Do you keep your food cost and labor costs under control?
- Profitability: Are you actually making money or just generating revenue?
- Growth potential: Can you scale without costs spiraling out of control?
The 5 key figures every investor wants to see
💡 Example: Restaurant with €500,000 annual revenue
- Revenue: €500,000 (100%)
- Food cost: €150,000 (30%)
- Labor costs: €175,000 (35%)
- Other costs: €125,000 (25%)
- EBITDA: €50,000 (10%)
This shows healthy ratios and controllable costs.
1. Food cost percentage
Standard: 28-35% of revenue. Shows you have control over purchasing and waste.
2. Labor cost percentage
Standard: 30-40% of revenue. Proves you manage staff efficiently.
3. EBITDA (profit before interest, depreciation and tax)
Standard: 8-15% for healthy restaurants. This is your true operational profit.
4. Revenue per square meter
Calculation: Annual revenue / number of m² of space. Shows efficiency of your location.
5. Average check per guest
Calculation: Annual revenue / number of covers. Shows your pricing power.
How to make trends visible
One year of P&L isn't enough. Investors want to see trends over at least 2-3 years:
⚠️ Note:
Show how you got through COVID. Investors value resilience and adaptability more than perfect figures.
- Revenue growth: Are you growing year-over-year or stagnating?
- Margin stability: Do your percentages stay stable or are they declining?
- Seasonal patterns: How predictable are your monthly revenues?
What investors see as red flags
Certain patterns in your P&L immediately scare investors away - the kind of thing you only learn after closing your first month at a loss:
💡 Example: Red flags
- Food cost above 40%: "They have no control over purchasing"
- Labor costs above 45%: "Inefficient with staff"
- Declining revenue 3 years in a row: "Concept no longer works"
- EBITDA below 5%: "No buffer for setbacks"
The right way to present your figures
Don't present your P&L as dry numbers, but as a story:
Slide 1: Revenue development
Show 3-year revenue growth with explanation of peaks and valleys.
Slide 2: Cost control
Show food cost and labor costs as percentages, compare with industry benchmarks.
Slide 3: Profitability
Focus on EBITDA development and what you're doing to improve it.
Slide 4: Efficiency metrics
Revenue per m², revenue per FTE, average check - shows operational excellence.
How to explain weak points
Every P&L has weak spots. Honesty works better than hiding them:
💡 Example: Explaining high food cost
"Our food cost of 38% is above average because we deliberately choose premium ingredients. This allows us to charge 15% higher prices than competitors."
Result: Higher absolute margin despite higher percentage.
Projections and scenarios
Investors don't just want to know where you stand, but where you're headed:
- Conservative scenario: Continue current trends
- Realistic scenario: What do you improve with investment capital?
- Optimistic scenario: With perfect execution, what's possible?
Base projections on concrete actions, not hope. For example: "With a €50,000 kitchen upgrade, we expect 20% faster service and 10% more covers."
How do you create an investor presentation from your P&L?
Gather 3 years of P&L data
Get your P&Ls from the last 3 years. Make sure all figures are correct and reported consistently. Investors always check the details.
Calculate the 5 key ratios per year
Calculate: food cost %, labor costs %, EBITDA %, revenue per m², and average check. Put these in a table to make trends visible.
Compare with industry benchmarks
Position your figures against industry averages. If you deviate, explain why and what you're doing about it. Honesty builds trust.
Make realistic projections
Project 3 scenarios for the next 2 years. Base these on concrete actions, not hope. Explain which investments lead to which improvements.
Practice your story
Present your figures as a story, not a data dump. Each slide should have one key message. Practice especially the explanation of weak points.
✨ Pro tip
Show 3 years of monthly EBITDA trends in one clear chart - this single slide reveals seasonal patterns, growth trajectory, and operational consistency that investors need to see within 30 seconds.
Calculate this yourself?
In the KitchenNmbrs app you can do this in just a few clicks. 7 days free, no credit card.
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Frequently asked questions
Which P&L figures are most important for investors?
The top 3: EBITDA percentage (true profit), food cost percentage (cost control) and revenue growth over 3 years (future potential). These three tell the whole story.
How do I explain that my restaurant is running at a loss?
Focus on trends and concrete actions. Show that losses are decreasing or one-time only. Investors invest in the future, not the past.
Should I share my complete P&L with investors?
In initial conversations, key ratios and trends are sufficient. With serious interest, investors expect full P&L including details. Transparency builds trust.
What if my figures are worse than industry benchmarks?
Explain honestly why and what you're doing about it. Investors value honesty and concrete improvement plans more than nice talk about bad figures.
📚 Sources consulted
- EU Verordening 852/2004 — Levensmiddelenhygiëne (2004) — Official source
- EU Verordening 853/2004 — Hygiënevoorschriften voor levensmiddelen van dierlijke oorsprong (2004) — Official source
- EU Verordening 1169/2011 — Voedselinformatie aan consumenten (2011) — Official source
- NVWA — Hygiënecode voor de horeca (2024) — Official source
- NVWA — Allergenen in voedsel (2024) — Official source
- Codex Alimentarius — International Food Standards (2024) — Official source
- FSA — Safer food, better business (HACCP) (2024) — Official source
- BVL — Lebensmittelhygiene (HACCP) (2024) — Official source
- Warenwetbesluit Bereiding en behandeling van levensmiddelen (2024) — Official source
- WHO — Foodborne diseases estimates (2024) — Official source
Food Standards Agency (FSA) — https://www.food.gov.uk
The HACCP standards shown in this application are for informational purposes only. KitchenNmbrs does not guarantee that displayed values are current or complete. Always consult the FSA or your local authority for the latest regulations.
Written by
Jeffrey Smit
Founder & CEO of KitchenNmbrs
Jeffrey Smit built KitchenNmbrs from 8 years of hands-on experience as kitchen manager at 1NUL8 Group in Rotterdam. His mission: give every restaurant owner control over food cost.
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