3 Minute Tips / Sentry Shorts

Profit and Loss Statement For Your Ice Cream Shop Makes Cents?

Posted by Robert Romarino

Nov 17, 2022 1:45:00 PM

A profit and loss statement is a very helpful tool if used right for your business. It is a financial statement with the revenue, costs, and expenses relative to a specific time period in your business. A P&L (profit and loss) statement essentially gives you the marketability and worth of your company, which is essential if you ever wish to sell your business. But it is equally important even if you're running your business and not interested in selling it. 



Having a profit and loss statement can help you operate your business in several ways:

  • evaluate the cost of goods: (knowing the food costs and margins are essential in this business.)
  • evaluate your labor costs. 
  • understand fixed expenses.

Having a P&L statement from each year will help give you a snapshot of those years and identify different trends and other up or down cycles.


Topics: Frozen Yogurt Business, Frozen Dessert Success, Ice Cream Business, Ice Cream Profits, 3 min Tip, Ice Cream Sales, Increased Profits, Business Startup