尊敬的 微信汇率:1円 ≈ 0.046239 元 支付宝汇率:1円 ≈ 0.04633元 [退出登录]
SlideShare a Scribd company logo
©2024 FULL COURSE
©2024 FULL COURSE
©2024 FULL COURSE
©2024 FULL COURSE
©2024 FULL COURSE
©2024 FULL COURSE
Navigating Your
Path to Profitability
A Guide for New and Seasoned Restaurant Owners…
©2024 FULL COURSE
Laying the groundwork:
Defining Success and Benchmarking: Understanding what success
looks like in your specific segment of the restaurant industry. (Fast Food,
Quick Service, Fast Casual, Casual, Fine Dining, Food Truck, Catering,
etc.)
• Essential Metrics and Goals: An in-depth look at KPIs critical to your
business's financial health. (Controllable and Non-Controllable expenses)
Tracking for Success: Exploring tools and strategies for effective
performance tracking (POS, Back Office, 3rd-Party Integrations) and
deploying the KISS method.
Adapting Strategies: The importance of flexibility, supported by case
studies of successful business pivots and failures.
©2024 FULL COURSE
WHY FOCUS ON BENCHMARKING?
“You can’t improve
what you don’t
measure.”
– Peter Drucker
©2024 FULL COURSE
Defining Success and Benchmarking:
Getting back to the basics (P and L statement):
(Benchmarking Costs as a % of Revenue: Historical, Budgeted, Actual)
1. What is your annual revenue goal? Do you have a Budget? Is it
realistic?
2. What are your Food Costs?
3. What are your Labor Costs (Salaried and Hourly)?
 What are your Prime Costs (COGS + Labor Costs)?
4. What are your “Controllable Expenses”?
5. What are your “Disposable Costs”?
6. What are your “Tech Costs”?
7. What are your discount totals as a % of Revenue?
Be mindful that growing sales does not guarantee profitable success…
©2024 FULL COURSE
Restaurant
P&L
Largest
Line Items
Labor
Cost
Food
Cost
EXAMPLE WITH
FOOD COST?
Food Costs can
account for
roughly 25% -
35% of the total
net revenue.
©2024 FULL COURSE
THEORETICAL VS. ACTUAL FOOD COST
Theoretical Food Costs
Costs are calculated based on POS data of
menu items sold and the raw costs of the
recipes that correlate to that item. The
“ideal” food cost in “Theory” if it was
prepared, cooked, portioned, and
produced the same way every time.
Actual Food Costs
The real tangible cost that a restaurant
incurs to produce and sell their menu items.
This is calculated based on an inventory
being performed to include expenses
associated with purchasing ingredients,
waste, spoilage, and any variations from the
original recipe.
In Theory, your Food Cost should have been
27% of Net Revenue:
Net Revenue = $1,000,000.00
Food Cost (COGs) = $270,000.00
or 27% of Net Revenue
Net Revenue = $1,000,000.00
Food Cost (COGs) = $290,000.00
or 29% of Net Revenue
COGs = Beginning Inventory + Purchases - Ending Inventory
$20K Difference
Why?
©2024 FULL COURSE
CAUSES OF HIGH FOOD COST
Raw Product Costs
Inventory Purchases
(PPI vs. CPI)
Raw Product
vs. Finished
Product = Yield
Portion Controls
Standardized
measurements where
possible
Over or
Undercooking
Recipe
Deviation
Under Charging
for item
Notwithstanding Shrink (AKA: Theft)
©2024 FULL COURSE
Defining Essential Metrics and Goals:
Essential Metrics and Goals: An in-depth look at KPIs critical to your
business's financial health.
Looking at food cost as an example: (what % of Revenue is beef an
expense)
Understanding the PPI (Producer Price Index) as a lead indicator to
the CPI (Consumer Price Index) and how it may affect your cost and
Menu Pricing.
If you are a heavy user of Beef on your menu…tracking the prices of
your beef as it relates to the beef commodities market can help you get
ahead of the curve on implementing a menu pricing strategy.
©2024 FULL COURSE
Tracking for Success:
Tracking for Success: Exploring tools and strategies for effective
performance tracking (Excel Spreadsheets, POS systems, Back Office
Solutions, 3rd-Party Integrations).
Implement a system for regular monitoring.
Daily: Inventory tracking (where applicable), labor hours, sales, and
discounts data.
Weekly: Comprehensive review of food and labor cost percentages,
utility costs (mini close on weekly controllable expenses – w/inventory)
Monthly: Detailed financial reports and analysis of trends.
©2024 FULL COURSE
Adapting Strategies:
Adapting Strategies: The importance of flexibility, ability to analyze and
implement new processes, equipment, sales channels, software, tools, etc.
Validate and adjust for successful business pivots.
Regularly review the metrics to identify areas of concern or opportunity.
Share necessary data metrics with your management team(s) and crew where
applicable. Typically: Controllable expenses-COGs, Labor, Linen, Smallware,
etc. Have them be a part of the process (buy-in / adoption rate becomes
higher)
Compare actual vs. ideal percentages.
Assess the effectiveness of direct marketing and LTO/special discounts.
Monitor the impact of any changes made in response to metrics
©2024 FULL COURSE
Tips and Tricks to Food Cost improvements
1. Tracking (Breaking down COGs)
2. Menu Item Costing
3. Raw Product Costs (Inventory)
4. Categorize Areas of Loss Revenue
5. Portioning
©2024 FULL COURSE
5 AREAS (Profitability)
16
1. Tracking (Breaking down COGs)
2. Menu Item Costing
3. Raw Product Costs (Inventory)
4. Categorize Areas of Loss Revenue
5. Portioning
©2024 FULL COURSE
BREAKING DOWN COGS
1. TRACKING
17
o
o
o
o
o
©2024 FULL COURSE
BREAKING DOWN COGS
1. TRACKING
18
o
o
o
©2024 FULL COURSE
BREAKING DOWN COGS
1. TRACKING
Common Example
o
o
©2024 FULL COURSE
BREAKING DOWN COGS
1. TRACKING
Example
o
o
o
©2024 FULL COURSE
BREAKING DOWN COGS
1. TRACKING
Example
o
o
©2024 FULL COURSE
Improving Visibility by Analyzing COG’s
©2024 FULL COURSE
5 WAYS
1. Tracking (Breaking down COGs)
2. Menu Item Costing
3. Raw Product Costs (Inventory)
4. Categorize Areas of Loss Revenue
5. Portioning
©2024 FULL COURSE
Example:
The Daily Duel $19.99
Options
Proteins::Chicken and Steak (1/4
Chicken and Steak Tips)
Sides: Fries, Broc, Mash, Squash, Side
Salad, Mac & Cheese (Pick 2 items)
BREAKING DOWN FOOD COSTS
2. MENU ITEM
COSTING
24
When costing your menu
look for the following:
o
o
o
o
©2024 FULL COURSE
BREAKING DOWN FOOD COSTS
2. MENU ITEM
COSTING
25
Example:
The Daily Duel $19.99
Options
Proteins: Chicken and Steak (1/4
Chicken and Steak Tips)
Sides: Fries, Broc, Mash, Squash, Side
Salad, Mac & Cheese (Pick 2 items)
Potato Cost
$1.00
Steak Cost
$2.50
Chicken Cost
$1.50
Broccoli Cost
$1.00
Food Cost Percentage:
The Daily Duel $19.99
Food Cost (plated) $6.00
($6.00/$19.99) x 100 = 30%
©2024 FULL COURSE
BREAKING DOWN FOOD COSTS
2. MENU ITEM
COSTING
Food Margin 1 (Standard Costs):
•Cost of Goods Sold (COGS): $6
•Food Cost Percentage: (30%)
•Standard Combination is
Chicken+Steak+Mash.+ Broc.
Food Margin 2 (Increased Ingredient Costs):
•Cost of Goods Sold (COGS): $8
•Food Cost Percentage: (40%)
•Highest combination is
Chicken+Steak+Side Salad+Mac&Cheese
Food Margin 3 (Lowest Ingredient Costs):
•Cost of Goods Sold (COGS): $5
•Food Cost Percentage: (25%)
•Lowest combination is Chicken+Steak+Double
Fries
Example:
The Daily Duel $19.99
Options
Proteins: Chicken and Steak (1/4
Chicken and Steak Tips)
Sides: Fries, Broc, Mash, Squash, Side
Salad, Mac & Cheese (Pick 2 items)
©2024 FULL COURSE
OTHER CONSIDERATIONS
2. MENU ITEM
COSTING (Paper)
o
o
o
o
o
©2024 FULL COURSE
5 WAYS
1. Tracking (Breaking down COGs)
2. Menu Item Costing
3. Raw Product Costs (Inventory)
4. Categorize Areas of Loss Revenue
5. Portioning
©2024 FULL COURSE
INVENTORIES
3. RAW PRODUCT
COSTS
o
o
o
o
o
o
©2024 FULL COURSE
INVENTORIES
3. RAW PRODUCT
COSTS
30
Supply Chain (Auto-substitutions)
Changes in Pack Size
Split Case Cost vs Case Cost
UOM (Unit of Measure) Conversion Errors
Not consistently FIFO product
Not receiving credit on damaged products
Human Input Errors: Input case vs sleeve count
Causes of
Inventory
Errors /
Variances
©2024 FULL COURSE
5 AREAS
1. Tracking (Breaking down COGs)
2. Menu Item Costing
3. Raw Product Costs (Inventory)
4. Categorize Areas of Loss Revenue
5. Portioning
©2024 FULL COURSE
BREAKING DOWN COGS
4. Categorize Loss
Revenue
o
o
o
o
©2024 FULL COURSE
BREAKING DOWN COGS
4. Categorize Loss
Revenue
o Discount Subcategories:
o
o
o
o
o
o
©2024 FULL COURSE
AS THEY RELATE TO REVENUE
DISCOUNTS VS REFUNDS
Discounts
o
o
o
o
Refunds
o
o
4. Categorize Loss
Revenue
©2024 FULL COURSE
REVENUE ASSOCIATED WITH
o
o
o
Examples
o
o
o
o
4. Categorize Loss
Revenue
WASTE
©2024 FULL COURSE
TRACKING WASTE
4. Categorize Loss Revenue
©2024 FULL COURSE
5 WAYS
37
1. Tracking (Breaking down COGs)
2. Menu Item Costing
3. Raw Product Costs (Inventory)
4. Categorize Areas of Loss Revenue
5. Portioning
©2024 FULL COURSE
5. Portioning
Proper portion controls:
o
o
o
o
o
©2024 FULL COURSE
©2024 FULL COURSE
Areas to Invest
Team Development and Training
Process Improvements
Preventative Maintenance
Automation
Brand Marketing and Local Marketing
Loyalty Programs
POS Data analytics
Education
(fullcourse.com)
©2024 FULL COURSE
Great Resource: Oano
Labes
www.oanalabes.com
©2024 FULL COURSE

More Related Content

Similar to Planning your Restaurant's Path to Profitability

Restaurant Valuation: Part Art, Part Science
Restaurant Valuation: Part Art, Part ScienceRestaurant Valuation: Part Art, Part Science
Restaurant Valuation: Part Art, Part Science
Citrin Cooperman
 
Unit 1 food cost controls
Unit 1 food cost controlsUnit 1 food cost controls
Unit 1 food cost controls
Harry
 
Smith & Gesteland direct costing techniques
Smith & Gesteland   direct costing techniquesSmith & Gesteland   direct costing techniques
Smith & Gesteland direct costing techniques
Smith & Gesteland
 
Webinar "The art of pricing"
Webinar "The art of pricing"Webinar "The art of pricing"
Webinar "The art of pricing"
SKIM
 
Production control
Production controlProduction control
Production control
Dr. Sunil Kumar
 
Unit 1. Introduction to Food and Beverage Control.pptx
Unit 1. Introduction to Food and Beverage Control.pptxUnit 1. Introduction to Food and Beverage Control.pptx
Unit 1. Introduction to Food and Beverage Control.pptx
HannaViBPolido
 
Chapter 40 f& b standards
Chapter 40 f& b standardsChapter 40 f& b standards
Chapter 40 f& b standards
Dr. Sunil Kumar
 
TOPIC 2: Menu cost and Pricing Strategies
TOPIC 2:  Menu cost and Pricing StrategiesTOPIC 2:  Menu cost and Pricing Strategies
TOPIC 2: Menu cost and Pricing Strategies
Akmal Hafiz
 
Selling food to ontario and pricing for selling - Erica Pate
Selling food to ontario and pricing for selling - Erica PateSelling food to ontario and pricing for selling - Erica Pate
Selling food to ontario and pricing for selling - Erica Pate
Local Food
 
Food and BeveragE Cost Control
Food and BeveragE Cost ControlFood and BeveragE Cost Control
Food and BeveragE Cost Control
HannaViBPolido
 
F14 Summer Intern Amrita Sengupta Final Presentation
F14 Summer Intern Amrita Sengupta Final PresentationF14 Summer Intern Amrita Sengupta Final Presentation
F14 Summer Intern Amrita Sengupta Final Presentation
Amrita Sengupta
 
resbonsible accounting
resbonsible accountingresbonsible accounting
resbonsible accounting
Suzzie Jean Oliva
 
INTRODUCTION TO COST CONTROL
INTRODUCTION TO COST CONTROLINTRODUCTION TO COST CONTROL
INTRODUCTION TO COST CONTROL
Yanne Evangelista
 
Final Assignment of Accounting Management - Udang Jaya Bersama Corporation 2018
Final Assignment of Accounting Management - Udang Jaya Bersama Corporation 2018Final Assignment of Accounting Management - Udang Jaya Bersama Corporation 2018
Final Assignment of Accounting Management - Udang Jaya Bersama Corporation 2018
udangjaya bersama
 
Unit 1. Introduction to Food and Beverage Control.pptx
Unit 1. Introduction to Food and Beverage Control.pptxUnit 1. Introduction to Food and Beverage Control.pptx
Unit 1. Introduction to Food and Beverage Control.pptx
HannaViBPolido
 
Pitch Deck To Raise Funding From Short Term PowerPoint Presentation Slides
Pitch Deck To Raise Funding From Short Term PowerPoint Presentation SlidesPitch Deck To Raise Funding From Short Term PowerPoint Presentation Slides
Pitch Deck To Raise Funding From Short Term PowerPoint Presentation Slides
SlideTeam
 
FACTORS AFFECTING MENU DESIGN AND PLANNING
FACTORS AFFECTING MENU DESIGN AND PLANNINGFACTORS AFFECTING MENU DESIGN AND PLANNING
FACTORS AFFECTING MENU DESIGN AND PLANNING
MUMTAZUL ILYANI AZHAR
 
#1FBC-INTRODUCTION.pptx
#1FBC-INTRODUCTION.pptx#1FBC-INTRODUCTION.pptx
#1FBC-INTRODUCTION.pptx
MasreshaA
 
Kitchen Cost Control.
Kitchen Cost Control.Kitchen Cost Control.
Kitchen Cost Control.
Sadip Thapa
 
Eric Deladiennee - Resume - Final
Eric Deladiennee - Resume - FinalEric Deladiennee - Resume - Final
Eric Deladiennee - Resume - Final
Eric Deladiennee
 

Similar to Planning your Restaurant's Path to Profitability (20)

Restaurant Valuation: Part Art, Part Science
Restaurant Valuation: Part Art, Part ScienceRestaurant Valuation: Part Art, Part Science
Restaurant Valuation: Part Art, Part Science
 
Unit 1 food cost controls
Unit 1 food cost controlsUnit 1 food cost controls
Unit 1 food cost controls
 
Smith & Gesteland direct costing techniques
Smith & Gesteland   direct costing techniquesSmith & Gesteland   direct costing techniques
Smith & Gesteland direct costing techniques
 
Webinar "The art of pricing"
Webinar "The art of pricing"Webinar "The art of pricing"
Webinar "The art of pricing"
 
Production control
Production controlProduction control
Production control
 
Unit 1. Introduction to Food and Beverage Control.pptx
Unit 1. Introduction to Food and Beverage Control.pptxUnit 1. Introduction to Food and Beverage Control.pptx
Unit 1. Introduction to Food and Beverage Control.pptx
 
Chapter 40 f& b standards
Chapter 40 f& b standardsChapter 40 f& b standards
Chapter 40 f& b standards
 
TOPIC 2: Menu cost and Pricing Strategies
TOPIC 2:  Menu cost and Pricing StrategiesTOPIC 2:  Menu cost and Pricing Strategies
TOPIC 2: Menu cost and Pricing Strategies
 
Selling food to ontario and pricing for selling - Erica Pate
Selling food to ontario and pricing for selling - Erica PateSelling food to ontario and pricing for selling - Erica Pate
Selling food to ontario and pricing for selling - Erica Pate
 
Food and BeveragE Cost Control
Food and BeveragE Cost ControlFood and BeveragE Cost Control
Food and BeveragE Cost Control
 
F14 Summer Intern Amrita Sengupta Final Presentation
F14 Summer Intern Amrita Sengupta Final PresentationF14 Summer Intern Amrita Sengupta Final Presentation
F14 Summer Intern Amrita Sengupta Final Presentation
 
resbonsible accounting
resbonsible accountingresbonsible accounting
resbonsible accounting
 
INTRODUCTION TO COST CONTROL
INTRODUCTION TO COST CONTROLINTRODUCTION TO COST CONTROL
INTRODUCTION TO COST CONTROL
 
Final Assignment of Accounting Management - Udang Jaya Bersama Corporation 2018
Final Assignment of Accounting Management - Udang Jaya Bersama Corporation 2018Final Assignment of Accounting Management - Udang Jaya Bersama Corporation 2018
Final Assignment of Accounting Management - Udang Jaya Bersama Corporation 2018
 
Unit 1. Introduction to Food and Beverage Control.pptx
Unit 1. Introduction to Food and Beverage Control.pptxUnit 1. Introduction to Food and Beverage Control.pptx
Unit 1. Introduction to Food and Beverage Control.pptx
 
Pitch Deck To Raise Funding From Short Term PowerPoint Presentation Slides
Pitch Deck To Raise Funding From Short Term PowerPoint Presentation SlidesPitch Deck To Raise Funding From Short Term PowerPoint Presentation Slides
Pitch Deck To Raise Funding From Short Term PowerPoint Presentation Slides
 
FACTORS AFFECTING MENU DESIGN AND PLANNING
FACTORS AFFECTING MENU DESIGN AND PLANNINGFACTORS AFFECTING MENU DESIGN AND PLANNING
FACTORS AFFECTING MENU DESIGN AND PLANNING
 
#1FBC-INTRODUCTION.pptx
#1FBC-INTRODUCTION.pptx#1FBC-INTRODUCTION.pptx
#1FBC-INTRODUCTION.pptx
 
Kitchen Cost Control.
Kitchen Cost Control.Kitchen Cost Control.
Kitchen Cost Control.
 
Eric Deladiennee - Resume - Final
Eric Deladiennee - Resume - FinalEric Deladiennee - Resume - Final
Eric Deladiennee - Resume - Final
 

More from Aggregage

How To Manage Multiple Product Teams For Successful Development & Delivery
How To Manage Multiple Product Teams For Successful Development & DeliveryHow To Manage Multiple Product Teams For Successful Development & Delivery
How To Manage Multiple Product Teams For Successful Development & Delivery
Aggregage
 
How to Optimize Call Monitoring: Automate QA and Elevate Customer Experience
How to Optimize Call Monitoring: Automate QA and Elevate Customer ExperienceHow to Optimize Call Monitoring: Automate QA and Elevate Customer Experience
How to Optimize Call Monitoring: Automate QA and Elevate Customer Experience
Aggregage
 
Scan to Success: How to Leverage QR Codes for Offline and Online Marketing Power
Scan to Success: How to Leverage QR Codes for Offline and Online Marketing PowerScan to Success: How to Leverage QR Codes for Offline and Online Marketing Power
Scan to Success: How to Leverage QR Codes for Offline and Online Marketing Power
Aggregage
 
Product Strategy Agility: How to Use Experiments and Options to Create Produc...
Product Strategy Agility: How to Use Experiments and Options to Create Produc...Product Strategy Agility: How to Use Experiments and Options to Create Produc...
Product Strategy Agility: How to Use Experiments and Options to Create Produc...
Aggregage
 
Leading the Development of Profitable and Sustainable Products
Leading the Development of Profitable and Sustainable ProductsLeading the Development of Profitable and Sustainable Products
Leading the Development of Profitable and Sustainable Products
Aggregage
 
How To Craft Your Perfect Retail Tech Stack
How To Craft Your Perfect Retail Tech StackHow To Craft Your Perfect Retail Tech Stack
How To Craft Your Perfect Retail Tech Stack
Aggregage
 
How To Cultivate Community Affinity Throughout The Generosity Journey
How To Cultivate Community Affinity Throughout The Generosity JourneyHow To Cultivate Community Affinity Throughout The Generosity Journey
How To Cultivate Community Affinity Throughout The Generosity Journey
Aggregage
 
Secrets of a Successful Sale: Optimizing Your Checkout Process
Secrets of a Successful Sale: Optimizing Your Checkout ProcessSecrets of a Successful Sale: Optimizing Your Checkout Process
Secrets of a Successful Sale: Optimizing Your Checkout Process
Aggregage
 
The Rules Do Apply: Navigating HR Compliance
The Rules Do Apply: Navigating HR ComplianceThe Rules Do Apply: Navigating HR Compliance
The Rules Do Apply: Navigating HR Compliance
Aggregage
 
Beyond the Basics of A/B Tests: Highly Innovative Experimentation Tactics You...
Beyond the Basics of A/B Tests: Highly Innovative Experimentation Tactics You...Beyond the Basics of A/B Tests: Highly Innovative Experimentation Tactics You...
Beyond the Basics of A/B Tests: Highly Innovative Experimentation Tactics You...
Aggregage
 
Understanding User Needs and Satisfying Them
Understanding User Needs and Satisfying ThemUnderstanding User Needs and Satisfying Them
Understanding User Needs and Satisfying Them
Aggregage
 
Generative AI Deep Dive: Advancing from Proof of Concept to Production
Generative AI Deep Dive: Advancing from Proof of Concept to ProductionGenerative AI Deep Dive: Advancing from Proof of Concept to Production
Generative AI Deep Dive: Advancing from Proof of Concept to Production
Aggregage
 
Unlocking Employee Potential with the Power of Continuous Feedback
Unlocking Employee Potential with the Power of Continuous FeedbackUnlocking Employee Potential with the Power of Continuous Feedback
Unlocking Employee Potential with the Power of Continuous Feedback
Aggregage
 
The Key to Sustainable Energy Optimization: A Data-Driven Approach for Manufa...
The Key to Sustainable Energy Optimization: A Data-Driven Approach for Manufa...The Key to Sustainable Energy Optimization: A Data-Driven Approach for Manufa...
The Key to Sustainable Energy Optimization: A Data-Driven Approach for Manufa...
Aggregage
 
From Awareness to Action: An HR Guide to Making Accessibility Accessible
From Awareness to Action:  An HR Guide to Making Accessibility AccessibleFrom Awareness to Action:  An HR Guide to Making Accessibility Accessible
From Awareness to Action: An HR Guide to Making Accessibility Accessible
Aggregage
 
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
Aggregage
 
How to Leverage Behavioral Science Insights for Direct Mail Success
How to Leverage Behavioral Science Insights for Direct Mail SuccessHow to Leverage Behavioral Science Insights for Direct Mail Success
How to Leverage Behavioral Science Insights for Direct Mail Success
Aggregage
 
Sales & Marketing Alignment_ How to Synergize for Success.pptx.pdf
Sales & Marketing Alignment_ How to Synergize for Success.pptx.pdfSales & Marketing Alignment_ How to Synergize for Success.pptx.pdf
Sales & Marketing Alignment_ How to Synergize for Success.pptx.pdf
Aggregage
 
Sales & Marketing Alignment: How to Synergize for Success
Sales & Marketing Alignment: How to Synergize for SuccessSales & Marketing Alignment: How to Synergize for Success
Sales & Marketing Alignment: How to Synergize for Success
Aggregage
 
How Automation is Driving Efficiency Through the Last Mile of Reporting
How Automation is Driving Efficiency Through the Last Mile of ReportingHow Automation is Driving Efficiency Through the Last Mile of Reporting
How Automation is Driving Efficiency Through the Last Mile of Reporting
Aggregage
 

More from Aggregage (20)

How To Manage Multiple Product Teams For Successful Development & Delivery
How To Manage Multiple Product Teams For Successful Development & DeliveryHow To Manage Multiple Product Teams For Successful Development & Delivery
How To Manage Multiple Product Teams For Successful Development & Delivery
 
How to Optimize Call Monitoring: Automate QA and Elevate Customer Experience
How to Optimize Call Monitoring: Automate QA and Elevate Customer ExperienceHow to Optimize Call Monitoring: Automate QA and Elevate Customer Experience
How to Optimize Call Monitoring: Automate QA and Elevate Customer Experience
 
Scan to Success: How to Leverage QR Codes for Offline and Online Marketing Power
Scan to Success: How to Leverage QR Codes for Offline and Online Marketing PowerScan to Success: How to Leverage QR Codes for Offline and Online Marketing Power
Scan to Success: How to Leverage QR Codes for Offline and Online Marketing Power
 
Product Strategy Agility: How to Use Experiments and Options to Create Produc...
Product Strategy Agility: How to Use Experiments and Options to Create Produc...Product Strategy Agility: How to Use Experiments and Options to Create Produc...
Product Strategy Agility: How to Use Experiments and Options to Create Produc...
 
Leading the Development of Profitable and Sustainable Products
Leading the Development of Profitable and Sustainable ProductsLeading the Development of Profitable and Sustainable Products
Leading the Development of Profitable and Sustainable Products
 
How To Craft Your Perfect Retail Tech Stack
How To Craft Your Perfect Retail Tech StackHow To Craft Your Perfect Retail Tech Stack
How To Craft Your Perfect Retail Tech Stack
 
How To Cultivate Community Affinity Throughout The Generosity Journey
How To Cultivate Community Affinity Throughout The Generosity JourneyHow To Cultivate Community Affinity Throughout The Generosity Journey
How To Cultivate Community Affinity Throughout The Generosity Journey
 
Secrets of a Successful Sale: Optimizing Your Checkout Process
Secrets of a Successful Sale: Optimizing Your Checkout ProcessSecrets of a Successful Sale: Optimizing Your Checkout Process
Secrets of a Successful Sale: Optimizing Your Checkout Process
 
The Rules Do Apply: Navigating HR Compliance
The Rules Do Apply: Navigating HR ComplianceThe Rules Do Apply: Navigating HR Compliance
The Rules Do Apply: Navigating HR Compliance
 
Beyond the Basics of A/B Tests: Highly Innovative Experimentation Tactics You...
Beyond the Basics of A/B Tests: Highly Innovative Experimentation Tactics You...Beyond the Basics of A/B Tests: Highly Innovative Experimentation Tactics You...
Beyond the Basics of A/B Tests: Highly Innovative Experimentation Tactics You...
 
Understanding User Needs and Satisfying Them
Understanding User Needs and Satisfying ThemUnderstanding User Needs and Satisfying Them
Understanding User Needs and Satisfying Them
 
Generative AI Deep Dive: Advancing from Proof of Concept to Production
Generative AI Deep Dive: Advancing from Proof of Concept to ProductionGenerative AI Deep Dive: Advancing from Proof of Concept to Production
Generative AI Deep Dive: Advancing from Proof of Concept to Production
 
Unlocking Employee Potential with the Power of Continuous Feedback
Unlocking Employee Potential with the Power of Continuous FeedbackUnlocking Employee Potential with the Power of Continuous Feedback
Unlocking Employee Potential with the Power of Continuous Feedback
 
The Key to Sustainable Energy Optimization: A Data-Driven Approach for Manufa...
The Key to Sustainable Energy Optimization: A Data-Driven Approach for Manufa...The Key to Sustainable Energy Optimization: A Data-Driven Approach for Manufa...
The Key to Sustainable Energy Optimization: A Data-Driven Approach for Manufa...
 
From Awareness to Action: An HR Guide to Making Accessibility Accessible
From Awareness to Action:  An HR Guide to Making Accessibility AccessibleFrom Awareness to Action:  An HR Guide to Making Accessibility Accessible
From Awareness to Action: An HR Guide to Making Accessibility Accessible
 
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
 
How to Leverage Behavioral Science Insights for Direct Mail Success
How to Leverage Behavioral Science Insights for Direct Mail SuccessHow to Leverage Behavioral Science Insights for Direct Mail Success
How to Leverage Behavioral Science Insights for Direct Mail Success
 
Sales & Marketing Alignment_ How to Synergize for Success.pptx.pdf
Sales & Marketing Alignment_ How to Synergize for Success.pptx.pdfSales & Marketing Alignment_ How to Synergize for Success.pptx.pdf
Sales & Marketing Alignment_ How to Synergize for Success.pptx.pdf
 
Sales & Marketing Alignment: How to Synergize for Success
Sales & Marketing Alignment: How to Synergize for SuccessSales & Marketing Alignment: How to Synergize for Success
Sales & Marketing Alignment: How to Synergize for Success
 
How Automation is Driving Efficiency Through the Last Mile of Reporting
How Automation is Driving Efficiency Through the Last Mile of ReportingHow Automation is Driving Efficiency Through the Last Mile of Reporting
How Automation is Driving Efficiency Through the Last Mile of Reporting
 

Recently uploaded

一比一原版迪肯大学毕业证(DU毕业证书)学历如何办理
一比一原版迪肯大学毕业证(DU毕业证书)学历如何办理一比一原版迪肯大学毕业证(DU毕业证书)学历如何办理
一比一原版迪肯大学毕业证(DU毕业证书)学历如何办理
mamekyn
 
一比一原版(teesside学位证书)提赛德大学毕业证如何办理
一比一原版(teesside学位证书)提赛德大学毕业证如何办理一比一原版(teesside学位证书)提赛德大学毕业证如何办理
一比一原版(teesside学位证书)提赛德大学毕业证如何办理
yuowea
 
Delhi Call Girls Gurgaon 👉 9899900591 👈 unlimited short high profile full tru...
Delhi Call Girls Gurgaon 👉 9899900591 👈 unlimited short high profile full tru...Delhi Call Girls Gurgaon 👉 9899900591 👈 unlimited short high profile full tru...
Delhi Call Girls Gurgaon 👉 9899900591 👈 unlimited short high profile full tru...
disha rana $V15
 
VIP Call Girls Chennai 🔥 9079923931 🔥 Available Nearby Escort Is Live Ready t...
VIP Call Girls Chennai 🔥 9079923931 🔥 Available Nearby Escort Is Live Ready t...VIP Call Girls Chennai 🔥 9079923931 🔥 Available Nearby Escort Is Live Ready t...
VIP Call Girls Chennai 🔥 9079923931 🔥 Available Nearby Escort Is Live Ready t...
yashusingh54876
 
Call Girls Pune 7742996321 Pune Call Girls Service
Call Girls Pune 7742996321 Pune Call Girls ServiceCall Girls Pune 7742996321 Pune Call Girls Service
Call Girls Pune 7742996321 Pune Call Girls Service
kartikkumar4563
 
🔥Gorgeous Call Girls Lucknow 💯Call Us 🔝 6350257716 🔝💃Independent Lucknow Esco...
🔥Gorgeous Call Girls Lucknow 💯Call Us 🔝 6350257716 🔝💃Independent Lucknow Esco...🔥Gorgeous Call Girls Lucknow 💯Call Us 🔝 6350257716 🔝💃Independent Lucknow Esco...
🔥Gorgeous Call Girls Lucknow 💯Call Us 🔝 6350257716 🔝💃Independent Lucknow Esco...
janvikumar4133
 
🔥indian Call Girls Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune Escorts Serv...
🔥indian Call Girls Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune Escorts Serv...🔥indian Call Girls Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune Escorts Serv...
🔥indian Call Girls Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune Escorts Serv...
yuvishachadda
 
Call Girls In Bangalore 👯‍♀️ 8824825030 🔥 Safe Housewife Call Girl Service Ho...
Call Girls In Bangalore 👯‍♀️ 8824825030 🔥 Safe Housewife Call Girl Service Ho...Call Girls In Bangalore 👯‍♀️ 8824825030 🔥 Safe Housewife Call Girl Service Ho...
Call Girls In Bangalore 👯‍♀️ 8824825030 🔥 Safe Housewife Call Girl Service Ho...
manalishivani8
 
❣Call Girl Near Surat 💯Call Us 🔝 7014168258 🔝💃Independent Surat Escorts Servi...
❣Call Girl Near Surat 💯Call Us 🔝 7014168258 🔝💃Independent Surat Escorts Servi...❣Call Girl Near Surat 💯Call Us 🔝 7014168258 🔝💃Independent Surat Escorts Servi...
❣Call Girl Near Surat 💯Call Us 🔝 7014168258 🔝💃Independent Surat Escorts Servi...
DishaGarg52
 
🔥Mature Women / Aunty Call Girl Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune...
🔥Mature Women / Aunty Call Girl Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune...🔥Mature Women / Aunty Call Girl Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune...
🔥Mature Women / Aunty Call Girl Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune...
AK47
 
Genuine Independent Call Girls Kolkata| 9079923931 |  With 100% Safe And Secu...
Genuine Independent Call Girls Kolkata| 9079923931 |  With 100% Safe And Secu...Genuine Independent Call Girls Kolkata| 9079923931 |  With 100% Safe And Secu...
Genuine Independent Call Girls Kolkata| 9079923931 |  With 100% Safe And Secu...
vikramkumar98756
 
Gorgeous Call Girls Bangalore 💯Call Us 🔝 7426014248 🔝Independent Bangalore Es...
Gorgeous Call Girls Bangalore 💯Call Us 🔝 7426014248 🔝Independent Bangalore Es...Gorgeous Call Girls Bangalore 💯Call Us 🔝 7426014248 🔝Independent Bangalore Es...
Gorgeous Call Girls Bangalore 💯Call Us 🔝 7426014248 🔝Independent Bangalore Es...
rehmti665
 
💋Book Call Girls Delhi 💯Call Us 🔝 9999965857 🔝💃Independent Delhi Escorts Serv...
💋Book Call Girls Delhi 💯Call Us 🔝 9999965857 🔝💃Independent Delhi Escorts Serv...💋Book Call Girls Delhi 💯Call Us 🔝 9999965857 🔝💃Independent Delhi Escorts Serv...
💋Book Call Girls Delhi 💯Call Us 🔝 9999965857 🔝💃Independent Delhi Escorts Serv...
SAKSHI$L14
 
Kolkata Call Girls  💯 +91-9079923931 High Class Kolkata Escorts Service
Kolkata Call Girls  💯 +91-9079923931 High Class Kolkata Escorts ServiceKolkata Call Girls  💯 +91-9079923931 High Class Kolkata Escorts Service
Kolkata Call Girls  💯 +91-9079923931 High Class Kolkata Escorts Service
yogita singh$A17
 
Hi-Fi Call Girls In Goa 💯Call Us 🔝 7426014248 🔝Independent Goa Escorts Servic...
Hi-Fi Call Girls In Goa 💯Call Us 🔝 7426014248 🔝Independent Goa Escorts Servic...Hi-Fi Call Girls In Goa 💯Call Us 🔝 7426014248 🔝Independent Goa Escorts Servic...
Hi-Fi Call Girls In Goa 💯Call Us 🔝 7426014248 🔝Independent Goa Escorts Servic...
rehmti665
 
Juhu Call Girls ( Mumbai ) 🔥 9920725232 ❄Mumbai Escorts with 100% Satisfaction
Juhu Call Girls ( Mumbai ) 🔥 9920725232 ❄Mumbai Escorts with 100% SatisfactionJuhu Call Girls ( Mumbai ) 🔥 9920725232 ❄Mumbai Escorts with 100% Satisfaction
Juhu Call Girls ( Mumbai ) 🔥 9920725232 ❄Mumbai Escorts with 100% Satisfaction
chawlaaanya019
 
💚Independent Call Girls In Delhi 💯Call Us 🔝 9899900591 🔝💃Top Class Call Girl ...
💚Independent Call Girls In Delhi 💯Call Us 🔝 9899900591 🔝💃Top Class Call Girl ...💚Independent Call Girls In Delhi 💯Call Us 🔝 9899900591 🔝💃Top Class Call Girl ...
💚Independent Call Girls In Delhi 💯Call Us 🔝 9899900591 🔝💃Top Class Call Girl ...
chawlaaanya019
 
Call Girls Kolkata 7742996321 Kolkata Call Girls Service
Call Girls Kolkata 7742996321 Kolkata Call Girls ServiceCall Girls Kolkata 7742996321 Kolkata Call Girls Service
Call Girls Kolkata 7742996321 Kolkata Call Girls Service
kartikkumar4563
 
一比一原版(trent学位证书)加拿大特伦特大学毕业证如何办理
一比一原版(trent学位证书)加拿大特伦特大学毕业证如何办理一比一原版(trent学位证书)加拿大特伦特大学毕业证如何办理
一比一原版(trent学位证书)加拿大特伦特大学毕业证如何办理
onyvo
 
Traditional Flavors, Modern Techniques.docx
Traditional Flavors, Modern Techniques.docxTraditional Flavors, Modern Techniques.docx
Traditional Flavors, Modern Techniques.docx
misbahrajpoot13579
 

Recently uploaded (20)

一比一原版迪肯大学毕业证(DU毕业证书)学历如何办理
一比一原版迪肯大学毕业证(DU毕业证书)学历如何办理一比一原版迪肯大学毕业证(DU毕业证书)学历如何办理
一比一原版迪肯大学毕业证(DU毕业证书)学历如何办理
 
一比一原版(teesside学位证书)提赛德大学毕业证如何办理
一比一原版(teesside学位证书)提赛德大学毕业证如何办理一比一原版(teesside学位证书)提赛德大学毕业证如何办理
一比一原版(teesside学位证书)提赛德大学毕业证如何办理
 
Delhi Call Girls Gurgaon 👉 9899900591 👈 unlimited short high profile full tru...
Delhi Call Girls Gurgaon 👉 9899900591 👈 unlimited short high profile full tru...Delhi Call Girls Gurgaon 👉 9899900591 👈 unlimited short high profile full tru...
Delhi Call Girls Gurgaon 👉 9899900591 👈 unlimited short high profile full tru...
 
VIP Call Girls Chennai 🔥 9079923931 🔥 Available Nearby Escort Is Live Ready t...
VIP Call Girls Chennai 🔥 9079923931 🔥 Available Nearby Escort Is Live Ready t...VIP Call Girls Chennai 🔥 9079923931 🔥 Available Nearby Escort Is Live Ready t...
VIP Call Girls Chennai 🔥 9079923931 🔥 Available Nearby Escort Is Live Ready t...
 
Call Girls Pune 7742996321 Pune Call Girls Service
Call Girls Pune 7742996321 Pune Call Girls ServiceCall Girls Pune 7742996321 Pune Call Girls Service
Call Girls Pune 7742996321 Pune Call Girls Service
 
🔥Gorgeous Call Girls Lucknow 💯Call Us 🔝 6350257716 🔝💃Independent Lucknow Esco...
🔥Gorgeous Call Girls Lucknow 💯Call Us 🔝 6350257716 🔝💃Independent Lucknow Esco...🔥Gorgeous Call Girls Lucknow 💯Call Us 🔝 6350257716 🔝💃Independent Lucknow Esco...
🔥Gorgeous Call Girls Lucknow 💯Call Us 🔝 6350257716 🔝💃Independent Lucknow Esco...
 
🔥indian Call Girls Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune Escorts Serv...
🔥indian Call Girls Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune Escorts Serv...🔥indian Call Girls Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune Escorts Serv...
🔥indian Call Girls Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune Escorts Serv...
 
Call Girls In Bangalore 👯‍♀️ 8824825030 🔥 Safe Housewife Call Girl Service Ho...
Call Girls In Bangalore 👯‍♀️ 8824825030 🔥 Safe Housewife Call Girl Service Ho...Call Girls In Bangalore 👯‍♀️ 8824825030 🔥 Safe Housewife Call Girl Service Ho...
Call Girls In Bangalore 👯‍♀️ 8824825030 🔥 Safe Housewife Call Girl Service Ho...
 
❣Call Girl Near Surat 💯Call Us 🔝 7014168258 🔝💃Independent Surat Escorts Servi...
❣Call Girl Near Surat 💯Call Us 🔝 7014168258 🔝💃Independent Surat Escorts Servi...❣Call Girl Near Surat 💯Call Us 🔝 7014168258 🔝💃Independent Surat Escorts Servi...
❣Call Girl Near Surat 💯Call Us 🔝 7014168258 🔝💃Independent Surat Escorts Servi...
 
🔥Mature Women / Aunty Call Girl Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune...
🔥Mature Women / Aunty Call Girl Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune...🔥Mature Women / Aunty Call Girl Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune...
🔥Mature Women / Aunty Call Girl Pune 💯Call Us 🔝 7014168258 🔝💃Independent Pune...
 
Genuine Independent Call Girls Kolkata| 9079923931 |  With 100% Safe And Secu...
Genuine Independent Call Girls Kolkata| 9079923931 |  With 100% Safe And Secu...Genuine Independent Call Girls Kolkata| 9079923931 |  With 100% Safe And Secu...
Genuine Independent Call Girls Kolkata| 9079923931 |  With 100% Safe And Secu...
 
Gorgeous Call Girls Bangalore 💯Call Us 🔝 7426014248 🔝Independent Bangalore Es...
Gorgeous Call Girls Bangalore 💯Call Us 🔝 7426014248 🔝Independent Bangalore Es...Gorgeous Call Girls Bangalore 💯Call Us 🔝 7426014248 🔝Independent Bangalore Es...
Gorgeous Call Girls Bangalore 💯Call Us 🔝 7426014248 🔝Independent Bangalore Es...
 
💋Book Call Girls Delhi 💯Call Us 🔝 9999965857 🔝💃Independent Delhi Escorts Serv...
💋Book Call Girls Delhi 💯Call Us 🔝 9999965857 🔝💃Independent Delhi Escorts Serv...💋Book Call Girls Delhi 💯Call Us 🔝 9999965857 🔝💃Independent Delhi Escorts Serv...
💋Book Call Girls Delhi 💯Call Us 🔝 9999965857 🔝💃Independent Delhi Escorts Serv...
 
Kolkata Call Girls  💯 +91-9079923931 High Class Kolkata Escorts Service
Kolkata Call Girls  💯 +91-9079923931 High Class Kolkata Escorts ServiceKolkata Call Girls  💯 +91-9079923931 High Class Kolkata Escorts Service
Kolkata Call Girls  💯 +91-9079923931 High Class Kolkata Escorts Service
 
Hi-Fi Call Girls In Goa 💯Call Us 🔝 7426014248 🔝Independent Goa Escorts Servic...
Hi-Fi Call Girls In Goa 💯Call Us 🔝 7426014248 🔝Independent Goa Escorts Servic...Hi-Fi Call Girls In Goa 💯Call Us 🔝 7426014248 🔝Independent Goa Escorts Servic...
Hi-Fi Call Girls In Goa 💯Call Us 🔝 7426014248 🔝Independent Goa Escorts Servic...
 
Juhu Call Girls ( Mumbai ) 🔥 9920725232 ❄Mumbai Escorts with 100% Satisfaction
Juhu Call Girls ( Mumbai ) 🔥 9920725232 ❄Mumbai Escorts with 100% SatisfactionJuhu Call Girls ( Mumbai ) 🔥 9920725232 ❄Mumbai Escorts with 100% Satisfaction
Juhu Call Girls ( Mumbai ) 🔥 9920725232 ❄Mumbai Escorts with 100% Satisfaction
 
💚Independent Call Girls In Delhi 💯Call Us 🔝 9899900591 🔝💃Top Class Call Girl ...
💚Independent Call Girls In Delhi 💯Call Us 🔝 9899900591 🔝💃Top Class Call Girl ...💚Independent Call Girls In Delhi 💯Call Us 🔝 9899900591 🔝💃Top Class Call Girl ...
💚Independent Call Girls In Delhi 💯Call Us 🔝 9899900591 🔝💃Top Class Call Girl ...
 
Call Girls Kolkata 7742996321 Kolkata Call Girls Service
Call Girls Kolkata 7742996321 Kolkata Call Girls ServiceCall Girls Kolkata 7742996321 Kolkata Call Girls Service
Call Girls Kolkata 7742996321 Kolkata Call Girls Service
 
一比一原版(trent学位证书)加拿大特伦特大学毕业证如何办理
一比一原版(trent学位证书)加拿大特伦特大学毕业证如何办理一比一原版(trent学位证书)加拿大特伦特大学毕业证如何办理
一比一原版(trent学位证书)加拿大特伦特大学毕业证如何办理
 
Traditional Flavors, Modern Techniques.docx
Traditional Flavors, Modern Techniques.docxTraditional Flavors, Modern Techniques.docx
Traditional Flavors, Modern Techniques.docx
 

Planning your Restaurant's Path to Profitability

  • 5. ©2024 FULL COURSE ©2024 FULL COURSE Navigating Your Path to Profitability A Guide for New and Seasoned Restaurant Owners…
  • 6. ©2024 FULL COURSE Laying the groundwork: Defining Success and Benchmarking: Understanding what success looks like in your specific segment of the restaurant industry. (Fast Food, Quick Service, Fast Casual, Casual, Fine Dining, Food Truck, Catering, etc.) • Essential Metrics and Goals: An in-depth look at KPIs critical to your business's financial health. (Controllable and Non-Controllable expenses) Tracking for Success: Exploring tools and strategies for effective performance tracking (POS, Back Office, 3rd-Party Integrations) and deploying the KISS method. Adapting Strategies: The importance of flexibility, supported by case studies of successful business pivots and failures.
  • 7. ©2024 FULL COURSE WHY FOCUS ON BENCHMARKING? “You can’t improve what you don’t measure.” – Peter Drucker
  • 8. ©2024 FULL COURSE Defining Success and Benchmarking: Getting back to the basics (P and L statement): (Benchmarking Costs as a % of Revenue: Historical, Budgeted, Actual) 1. What is your annual revenue goal? Do you have a Budget? Is it realistic? 2. What are your Food Costs? 3. What are your Labor Costs (Salaried and Hourly)?  What are your Prime Costs (COGS + Labor Costs)? 4. What are your “Controllable Expenses”? 5. What are your “Disposable Costs”? 6. What are your “Tech Costs”? 7. What are your discount totals as a % of Revenue? Be mindful that growing sales does not guarantee profitable success…
  • 9. ©2024 FULL COURSE Restaurant P&L Largest Line Items Labor Cost Food Cost EXAMPLE WITH FOOD COST? Food Costs can account for roughly 25% - 35% of the total net revenue.
  • 10. ©2024 FULL COURSE THEORETICAL VS. ACTUAL FOOD COST Theoretical Food Costs Costs are calculated based on POS data of menu items sold and the raw costs of the recipes that correlate to that item. The “ideal” food cost in “Theory” if it was prepared, cooked, portioned, and produced the same way every time. Actual Food Costs The real tangible cost that a restaurant incurs to produce and sell their menu items. This is calculated based on an inventory being performed to include expenses associated with purchasing ingredients, waste, spoilage, and any variations from the original recipe. In Theory, your Food Cost should have been 27% of Net Revenue: Net Revenue = $1,000,000.00 Food Cost (COGs) = $270,000.00 or 27% of Net Revenue Net Revenue = $1,000,000.00 Food Cost (COGs) = $290,000.00 or 29% of Net Revenue COGs = Beginning Inventory + Purchases - Ending Inventory $20K Difference Why?
  • 11. ©2024 FULL COURSE CAUSES OF HIGH FOOD COST Raw Product Costs Inventory Purchases (PPI vs. CPI) Raw Product vs. Finished Product = Yield Portion Controls Standardized measurements where possible Over or Undercooking Recipe Deviation Under Charging for item Notwithstanding Shrink (AKA: Theft)
  • 12. ©2024 FULL COURSE Defining Essential Metrics and Goals: Essential Metrics and Goals: An in-depth look at KPIs critical to your business's financial health. Looking at food cost as an example: (what % of Revenue is beef an expense) Understanding the PPI (Producer Price Index) as a lead indicator to the CPI (Consumer Price Index) and how it may affect your cost and Menu Pricing. If you are a heavy user of Beef on your menu…tracking the prices of your beef as it relates to the beef commodities market can help you get ahead of the curve on implementing a menu pricing strategy.
  • 13. ©2024 FULL COURSE Tracking for Success: Tracking for Success: Exploring tools and strategies for effective performance tracking (Excel Spreadsheets, POS systems, Back Office Solutions, 3rd-Party Integrations). Implement a system for regular monitoring. Daily: Inventory tracking (where applicable), labor hours, sales, and discounts data. Weekly: Comprehensive review of food and labor cost percentages, utility costs (mini close on weekly controllable expenses – w/inventory) Monthly: Detailed financial reports and analysis of trends.
  • 14. ©2024 FULL COURSE Adapting Strategies: Adapting Strategies: The importance of flexibility, ability to analyze and implement new processes, equipment, sales channels, software, tools, etc. Validate and adjust for successful business pivots. Regularly review the metrics to identify areas of concern or opportunity. Share necessary data metrics with your management team(s) and crew where applicable. Typically: Controllable expenses-COGs, Labor, Linen, Smallware, etc. Have them be a part of the process (buy-in / adoption rate becomes higher) Compare actual vs. ideal percentages. Assess the effectiveness of direct marketing and LTO/special discounts. Monitor the impact of any changes made in response to metrics
  • 15. ©2024 FULL COURSE Tips and Tricks to Food Cost improvements 1. Tracking (Breaking down COGs) 2. Menu Item Costing 3. Raw Product Costs (Inventory) 4. Categorize Areas of Loss Revenue 5. Portioning
  • 16. ©2024 FULL COURSE 5 AREAS (Profitability) 16 1. Tracking (Breaking down COGs) 2. Menu Item Costing 3. Raw Product Costs (Inventory) 4. Categorize Areas of Loss Revenue 5. Portioning
  • 17. ©2024 FULL COURSE BREAKING DOWN COGS 1. TRACKING 17 o o o o o
  • 18. ©2024 FULL COURSE BREAKING DOWN COGS 1. TRACKING 18 o o o
  • 19. ©2024 FULL COURSE BREAKING DOWN COGS 1. TRACKING Common Example o o
  • 20. ©2024 FULL COURSE BREAKING DOWN COGS 1. TRACKING Example o o o
  • 21. ©2024 FULL COURSE BREAKING DOWN COGS 1. TRACKING Example o o
  • 22. ©2024 FULL COURSE Improving Visibility by Analyzing COG’s
  • 23. ©2024 FULL COURSE 5 WAYS 1. Tracking (Breaking down COGs) 2. Menu Item Costing 3. Raw Product Costs (Inventory) 4. Categorize Areas of Loss Revenue 5. Portioning
  • 24. ©2024 FULL COURSE Example: The Daily Duel $19.99 Options Proteins::Chicken and Steak (1/4 Chicken and Steak Tips) Sides: Fries, Broc, Mash, Squash, Side Salad, Mac & Cheese (Pick 2 items) BREAKING DOWN FOOD COSTS 2. MENU ITEM COSTING 24 When costing your menu look for the following: o o o o
  • 25. ©2024 FULL COURSE BREAKING DOWN FOOD COSTS 2. MENU ITEM COSTING 25 Example: The Daily Duel $19.99 Options Proteins: Chicken and Steak (1/4 Chicken and Steak Tips) Sides: Fries, Broc, Mash, Squash, Side Salad, Mac & Cheese (Pick 2 items) Potato Cost $1.00 Steak Cost $2.50 Chicken Cost $1.50 Broccoli Cost $1.00 Food Cost Percentage: The Daily Duel $19.99 Food Cost (plated) $6.00 ($6.00/$19.99) x 100 = 30%
  • 26. ©2024 FULL COURSE BREAKING DOWN FOOD COSTS 2. MENU ITEM COSTING Food Margin 1 (Standard Costs): •Cost of Goods Sold (COGS): $6 •Food Cost Percentage: (30%) •Standard Combination is Chicken+Steak+Mash.+ Broc. Food Margin 2 (Increased Ingredient Costs): •Cost of Goods Sold (COGS): $8 •Food Cost Percentage: (40%) •Highest combination is Chicken+Steak+Side Salad+Mac&Cheese Food Margin 3 (Lowest Ingredient Costs): •Cost of Goods Sold (COGS): $5 •Food Cost Percentage: (25%) •Lowest combination is Chicken+Steak+Double Fries Example: The Daily Duel $19.99 Options Proteins: Chicken and Steak (1/4 Chicken and Steak Tips) Sides: Fries, Broc, Mash, Squash, Side Salad, Mac & Cheese (Pick 2 items)
  • 27. ©2024 FULL COURSE OTHER CONSIDERATIONS 2. MENU ITEM COSTING (Paper) o o o o o
  • 28. ©2024 FULL COURSE 5 WAYS 1. Tracking (Breaking down COGs) 2. Menu Item Costing 3. Raw Product Costs (Inventory) 4. Categorize Areas of Loss Revenue 5. Portioning
  • 29. ©2024 FULL COURSE INVENTORIES 3. RAW PRODUCT COSTS o o o o o o
  • 30. ©2024 FULL COURSE INVENTORIES 3. RAW PRODUCT COSTS 30 Supply Chain (Auto-substitutions) Changes in Pack Size Split Case Cost vs Case Cost UOM (Unit of Measure) Conversion Errors Not consistently FIFO product Not receiving credit on damaged products Human Input Errors: Input case vs sleeve count Causes of Inventory Errors / Variances
  • 31. ©2024 FULL COURSE 5 AREAS 1. Tracking (Breaking down COGs) 2. Menu Item Costing 3. Raw Product Costs (Inventory) 4. Categorize Areas of Loss Revenue 5. Portioning
  • 32. ©2024 FULL COURSE BREAKING DOWN COGS 4. Categorize Loss Revenue o o o o
  • 33. ©2024 FULL COURSE BREAKING DOWN COGS 4. Categorize Loss Revenue o Discount Subcategories: o o o o o o
  • 34. ©2024 FULL COURSE AS THEY RELATE TO REVENUE DISCOUNTS VS REFUNDS Discounts o o o o Refunds o o 4. Categorize Loss Revenue
  • 35. ©2024 FULL COURSE REVENUE ASSOCIATED WITH o o o Examples o o o o 4. Categorize Loss Revenue WASTE
  • 36. ©2024 FULL COURSE TRACKING WASTE 4. Categorize Loss Revenue
  • 37. ©2024 FULL COURSE 5 WAYS 37 1. Tracking (Breaking down COGs) 2. Menu Item Costing 3. Raw Product Costs (Inventory) 4. Categorize Areas of Loss Revenue 5. Portioning
  • 38. ©2024 FULL COURSE 5. Portioning Proper portion controls: o o o o o
  • 39. ©2024 FULL COURSE ©2024 FULL COURSE Areas to Invest Team Development and Training Process Improvements Preventative Maintenance Automation Brand Marketing and Local Marketing Loyalty Programs POS Data analytics
  • 41. ©2024 FULL COURSE Great Resource: Oano Labes www.oanalabes.com
  翻译: