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Historical Benchmarks

Historical Benchmarks. HRT 383 Lunch & Dinner Winter 2008. 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. An Historical Benchmark is…. An historical point of reference

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Historical Benchmarks

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  1. Historical Benchmarks HRT 383 Lunch & Dinner Winter 2008

  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 50% • Bar cost percentage target is 40%

  12. Searching for Benchmarks… • Lunch Menu Mix – Winter 2008: $15.56 Ave. Check • Appetizers 57.7% • Manager’s Special App 30.5% • #1-Selling Menu Entrée – Salmon 10.8% • Quesadilla 7.8% • Turkado 6.3% • Manager’s Special Entrée 33.7% • A la carte to banquet = 80.3% / 19.7% • Desserts = 52.3% • Manager’s Special Dessert 32.8% • Beverages = 92.0%

  13. Weekly Bar Sales 250 4.6% Food sales 5,140 95.4% Total Sales 5,390 Daily Bar Sales 50 4.6% Food sales 1,028 95.4% Total Sales 1,078 77 Covers/day @ $14.- Lunch Projection UPDATE

  14. Searching for Benchmarks… • Dinner Menu Mix – Winter 2008: • $40.33 Ave. Check • #1-Ribeye 19.1% • #2-Scampi 14.2% • #3-Swordfish13.7% • #4-Short Rib 10.6% • A la carte to banquet 71.3 / 28.7% • Beverages 104.8% • Bottled Wine 379 each • WBTG 762 each

  15. Weekly Bar Sales 2,442 20% Food sales 9,768 80% Total Sales 12,210 3 Day Sales $ 6,105 Daily Bar Sales 407 20% Food sales 1,628 80% Total Sales 2,035 50 Covers/day @ $40.- Dinner Projection Revisit

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