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Historical Benchmarks

Learn how historical benchmarks can be utilized in restaurant analysis, including net sales, menu mix, bar cost, and more, to improve decision-making and performance evaluation. Understand the importance of comparing data accurately to make informed decisions. Explore various metrics like sales history, item counts, and percentage analysis to set benchmarks for success.

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Historical Benchmarks

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  1. Historical Benchmarks HRT 383 Lunch & Dinner Spring 09

  2. What is a benchmark? • From Merriam-Webster Online: A point of reference from which measurements may be made http://www.m-w.com/cgi-bin/dictionary Accessed 10/08/04

  3. An Historical Benchmark is… • An historical point of reference • What did we do in the past? • Measurable • Dollars/Cents • Percentage • Count • Time • Weight • Volume

  4. Cautions: • Compare “Apples to Apples” • Watch for differences in: • Volume • Days or Day-Part Variations • Number of operation periods • Hours of operation • Seasonality • “Like Items” • Menu prices • A La Carte vs. Banquets

  5. Searching for Benchmarks… • Net Sales Analysis: • Daily or weekly sales in dollars • Total sales • Food sales • Beer sales • Wine sales • Bar sales • Daily or weekly guest count • Daily or weekly check average

  6. Searching for Benchmarks… • Weekly Menu Mix/Sales History Analysis: • Item sales (by count or percentage) • Individual items (count or percent) • Category sales (count or percentage) • A la carte counts vs. banquet counts • Unless most other measures are equal (or close to equal), use percentages for benchmarks!

  7. Searching for Benchmarks… • Bar Cost: • Daily or weekly percentages • Beer costs percentage • Wine cost percentage • Total bar percentage • Usually, weekly information is more accurate than daily information

  8. Searching for Benchmarks… • Credits to Cost of Goods Sold: • Comps vs. Total Sales • Goodwill comps (marketing) vs. QSA • Waste report • Accuracy is critical • Use for information rather than benchmarks • Family meal issues

  9. Searching for Benchmarks… • Weekly Summary: • QTD information • Counts • Check average • Sales • COGS • Quarterly food cost percentage • Weekly and quarterly bar cost percentage • Other expense categories by percentage

  10. Searching for Benchmarks… • QTD Menu Mix/Sales History Analysis: • Item sales (by count or percentage) • Individual items (count or percent) • Category sales (count or percentage) • A la carte counts vs. banquet counts • Usually QTD information is used for benchmark percentages

  11. Searching for Benchmarks… • Budgets: • Total Sales • COGS • Food cost percentage target is 33% • Food Cost Marketing & Training is 17% • Bar cost percentage target is 40%

  12. Searching for Benchmarks… • Lunch Menu Mix – Winter 2009: $15.91 Ave. Check • Appetizers 55.53% • Manager’s Special App 39.68%% • #1-Selling Menu Entrée – Fish N Chips 5.19% • Southwestern Salad 4.85% • Turkado 4.56% • Manager’s Special Entrée 39.79% • A la carte to banquet = 75.60% / 24.40% • Desserts = 52.11% • Manager’s Special Dessert 38.37% • Beverages = 48.75%

  13. Weekly Bar Sales 250 5.6% Food sales 4,250 94.4% Total Sales 4,500 Daily Bar Sales 63 5.6% Food sales 1,062 94.4% Total Sales 1,125 75 Covers/day @ $15.- Lunch Projection UPDATE

  14. Searching for Benchmarks… • Dinner Menu Mix – Winter 2009: • $37.31 Ave. Check • #1-Steak23.7% • #2-Crab Cakes 14.7% • #3-Lamb 11.3% • #4-Pork 12.6% • A la carte to banquet 62.8 / 37.2% • Beverages 93.1% • Bottled Wine 170 each • WBTG 266 each

  15. Weekly Bar Sales 900 15% Food sales 5,100 85% Total Sales 6,000 Daily Bar Sales 300 15% Food sales 1,700 85% Total Sales 2,000 55 Covers/day @ $36.- Dinner Projection Revisit

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