![How to plan and track the budget of your cooking class studio [template]](http://onlineyougrow.com/cdn/shop/articles/cov-budget-5_dd4c4a3a-6139-48a4-89ea-c8b5515e8d22.png?v=1715856497&width=1100)
If you don’t plan and track your cooking class studio budget properly, you're setting yourself up for failure.
When we developed our strategy pack for cooking class studio owners, we saw a lot of studio owners struggling with finances and planning.
They were disorganized, had no grasp of cash flow, and were drowning in financial troubles despite having substantial revenue.
Don’t let this be you—stand out and succeed.
We’ve created a small, free tool to help you get started: our Budget Tracker and Planner. Let’s turn your studio's finances around and set you on the path to success!
Get the budget tracker tailored for cooking studios
Most cooking studio owners don't know how to plan and track their budget. This spreadsheet will help you.
Example of a full budget for cooking studios
Here is an example of a (very) detailed budget for a cooking class studio, to give you some inspiration
1. Rent and Utilities
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Rent | Lease for studio space | $3,000 | $36,000 |
| Electricity | Power consumption for kitchen and classroom | $500 | $6,000 |
| Water | Water usage | $150 | $1,800 |
| Gas | Gas for cooking and heating | $200 | $2,400 |
| Internet & Phone | Internet service and business phone | $100 | $1,200 |
| Waste Removal | Garbage and recycling services | $80 | $960 |
| Pest Control | Monthly pest control services | $50 | $600 |
| Insurance | Property and liability insurance | $400 | $4,800 |
2. Salaries & Wages
| Position | Number of Employees | Monthly Cost per Employee | Total Monthly Cost | Annual Cost |
|---|---|---|---|---|
| Head Instructor | 1 | $4,000 | $4,000 | $48,000 |
| Assistant Instructors | 2 | $2,500 | $5,000 | $60,000 |
| Administrative Staff | 1 | $2,500 | $2,500 | $30,000 |
| Cleaning Staff | 1 | $2,000 | $2,000 | $24,000 |
| Marketing Manager | 1 | $3,000 | $3,000 | $36,000 |
3. Supplies & Ingredients
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Ingredients | Fresh produce, meats, seafood, etc. | $5,000 | $60,000 |
| Condiments & Spices | Seasonings, sauces, dressings, etc. | $300 | $3,600 |
| Cleaning Supplies | Detergents, sanitizers, etc. | $150 | $1,800 |
| Paper Goods | Napkins, paper towels, to-go containers | $200 | $2,400 |
| Kitchen Utensils | Smallwares, cutlery, and kitchen tools | $150 | $1,800 |
| Dishware & Glassware | Plates, bowls, glasses, etc. | $150 | $1,800 |
4. Marketing & Advertising
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Online Advertising | Google Ads, Facebook Ads, etc. | $300 | $3,600 |
| Social Media Management | Managing social media accounts | $500 | $6,000 |
| Print Advertising | Flyers, posters, newspaper ads | $150 | $1,800 |
| Website Maintenance | Hosting, domain, updates | $100 | $1,200 |
| Email Marketing | Email campaigns and newsletters | $100 | $1,200 |
| Promotional Events | Special events and promotions | $200 | $2,400 |
5. Miscellaneous Expenses
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Equipment Maintenance | Regular maintenance of kitchen equipment | $300 | $3,600 |
| Uniforms | Staff uniforms and aprons | $100 | $1,200 |
| Licenses & Permits | Health permits, business licenses, etc. | $100 | $1,200 |
| POS System | Point of Sale software and hardware | $100 | $1,200 |
| Contingency Fund | Emergency repairs and unexpected costs | $300 | $3,600 |
| Office Supplies | Stationery, pens, printer ink, etc. | $100 | $1,200 |
| Staff Training | Training programs and materials | $200 | $2,400 |
Some cooking studios make 5x more profit than you!
We have studied the strategies of the best cooking studios in the world. Replicate them now!
What are the biggest expenses for a cooking class studio?
Be mindful of these critical expenses. Here are five major costs every cooking class studio owner needs to consider, along with some tips on how to manage them effectively.
- Ingredient and supply costsThese can take up a significant portion of your budget. You're dealing with perishables, and prices can vary based on seasonality, supply chain issues, and quality. To keep these costs in check, focus on portion control, negotiate better prices with suppliers, and minimize waste. It's easy to overspend by buying too much or opting for high-end ingredients that don’t add enough value to your classes.
- Instructor and staff wagesYour instructors and support staff are the heart of your studio, but paying for their wages, benefits, and training can be costly. This expense is always high because you need a certain number of employees to provide quality instruction and keep things running smoothly. Optimize labor costs by scheduling efficiently, cross-training staff, and monitoring productivity. However, be careful not to underpay or overwork your staff, as this can lead to high turnover and poor class quality.
- Rent and utilities of your studioPrime locations come with high rent, but they can attract more students. Utilities like electricity, gas, and water are essential but can add up quickly. To optimize these costs, negotiate favorable lease terms and invest in energy-efficient appliances and lighting. Overspending often happens when you choose a location that's too large or too upscale for your needs.
- MarketingYou need to promote your cooking classes, but advertising can be expensive, whether it's online ads, social media campaigns, or traditional media. Optimize this expense by focusing on cost-effective methods like the ones we provide in our guide. Overspending can occur if you invest in flashy campaigns without a clear return on investment.
- Kitchen equipment and maintenance costsThis includes everything from kitchen appliances to classroom furniture. These are expensive because quality equipment and regular maintenance are crucial for smooth operations and student satisfaction. Optimize by investing in durable, energy-efficient equipment and maintaining it regularly to avoid costly breakdowns. You can overspend by going for the latest high-tech gadgets you don’t really need.
How to spend less with your cooking class studio?
Here are practical tips to help you, as a cooking class studio owner, optimize your budget and manage expenses more effectively.
| Expense | Tips to Optimize |
|---|---|
| Ingredient Costs | Partner with local farmers for fresh, seasonal produce at lower prices. |
| Instructor Salaries | Implement a scheduling software to optimize instructor hours and reduce overtime. |
| Utilities | Install LED lighting and energy-efficient kitchen equipment. |
| Marketing | Run social media contests for your cooking classes and collaborate with local influencers for free exposure. |
| Cleaning Supplies | Train staff on efficient use of cleaning supplies to reduce waste. |
| Equipment Maintenance | Set up a maintenance log for regular equipment checks and servicing. |
| Rent/Mortgage | Negotiate lease terms during renewal or consider moving to a less expensive location. |
| Insurance | Regularly review insurance policies to ensure they meet current needs and compare rates annually. |
| Packaging | Use cost-effective, eco-friendly packaging for take-home ingredients and offer discounts for students bringing their own containers. |
| Cookware | Purchase high-quality, durable cookware that can withstand frequent use. |
| POS System | Choose a POS system that offers essential features with low transaction fees and integrates with other systems. |
| Staff Training | Conduct regular in-house training sessions and use free online resources. |
| Waste Management | Implement a food waste tracking system to minimize waste and donate excess food. |
| Technology | Invest in multi-functional kitchen appliances and utilize class management software for reservations and scheduling. |
| Linen and Laundry | Partner with a cost-effective linen service and consider reusable aprons and kitchen towels. |
| Recipe Printing | Use digital recipe boards or QR codes for recipe access to reduce printing costs. |
| Licensing and Permits | Stay up-to-date with local regulations to avoid fines and costly renewals. |
| Transportation | Plan ingredient delivery routes to maximize efficiency and reduce fuel costs. |
| Office Supplies | Purchase supplies in bulk and go paperless where possible with digital order systems. |
| Inventory Management | Use inventory management software to track stock levels and reduce spoilage. |
| Pest Control | Schedule monthly pest control services and maintain cleanliness standards to prevent infestations. |
| Music and Entertainment | Use a streaming service for background music and host local musicians during special events. |
| Uniforms | Choose durable, easy-to-clean uniforms and offer staff a stipend for maintenance instead of using an external service. |
Copy the tactics of the best cooking studios in the world!
There are cooking studios that make way more money than you do. We have studied their tactics. Get them now!
Expenses that are just useless for a cooking class studio
Yes, some expenses for your cooking class studio are just unnecessary. They don't contribute to enhancing the learning experience or attracting more students.
| Studio Expense | Reason It's Useless |
|---|---|
| Luxurious Decor | Over-the-top decorations don't necessarily improve the learning environment and can be a financial burden. |
| High-End Ingredients | Unless you're offering gourmet classes, most students are satisfied with quality, mid-range ingredients. |
| Extensive Class Offerings | Offering too many different classes can increase costs and lead to lower enrollment per class. |
| Top-Tier Kitchen Equipment | High-end kitchen gadgets are not always necessary and can be prohibitively expensive. |
| Printed Flyers | Traditional paper flyers often have a low return on investment. Consider digital marketing instead. |
| Multiple Uniform Styles | Having various uniform styles for instructors increases costs without adding significant value to the student experience. |
| Excessive Staff | Overstaffing leads to higher labor costs without necessarily improving the quality of instruction. |
| Premium Subscription Services | Expensive subscriptions for music or magazines often go unnoticed by students. |
| Exclusive Ingredients | Using rare ingredients can inflate costs and complicate supply chains. |
| Costly Furniture | High-end furniture is not always appreciated by students and can be a significant expense. |
| Custom Printed Aprons | Personalized aprons are a minor detail that most students overlook, and they can be expensive. |
| Unnecessary Software | Paying for software with features you don’t use is a waste of resources. |
| Premium Water Brands | Most students are content with filtered tap water, making expensive bottled water unnecessary. |
| Extra Delivery Vehicles | Maintaining a larger fleet than needed increases operational costs. |
| Excessive Membership Fees | Paying for multiple industry memberships often yields little benefit. |
| Overly Frequent Renovations | Constantly updating decor and layout can be costly and disrupt classes. |
| Expensive Table Centerpieces | Elaborate centerpieces are often ignored by students and add to the cost. |
| High-End Tableware | Luxury tableware is prone to damage and expensive to replace, often going unnoticed by students. |
| Excessive Staff Meetings | Too many meetings can reduce productivity and increase labor costs. |
| Expensive Class Materials | Frequently redesigning class materials is costly and often unnecessary. |
| Unused Promotional Materials | Ordering more promotional items than needed leads to waste and unnecessary expense.Get our marketing budget planner template. |
| Paid Directory Listings | Many free listing options are available, making paid listings often redundant. |
| High-End Catering Equipment | Specialized catering equipment is often unnecessary and adds to costs without a proportional benefit. |
Stop working with a tight budget for your cooking class studio!
Managing a budget for a cooking class studio when funds are tight can feel overwhelming. It's like being trapped in a cycle where any unexpected expense can throw you off balance.
This constant pressure makes it nearly impossible to invest in new classes or equipment, leaving you always scrambling to cover costs. It's a life filled with stress and sleepless nights.
Yes, you can continue down this path, cutting corners and just getting by. But there's another part of the equation you might be overlooking. Instead of just trying to cut costs, you can focus on growing your revenue. More income means more flexibility and more resources to enhance your studio.
And no, you don't necessarily have to spend money to grow. There are plenty of zero-cost initiatives and strategies that can help you increase your revenue by 10%, 20%, or more. We've detailed all of these strategies in our guides, after studying dozens of cooking class studios just like yours. Get them now!
Make your cooking class studio more profitable
We have studied the strategies of the best cooking studios in the world. All their tactics are explained in our pack!
