1 / 15

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

wilma-allen
Download Presentation

Historical Benchmarks

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  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 33% • Food Cost Marketing & Training is 17% • Bar Cost percentage target is 40%

  12. Searching for Benchmarks… • Lunch Menu Mix – Fall 2007: $15.22 Ave. Check • Appetizers 65.7% • Manager’s Special App 39.3% • #1-Selling Menu Entrée – Turkade 7.4% • Salmon 6.4% • Meat Loaf 5.4% • Manager’s Special Entrée 40.5% • A la carte to banquet = 60.2% / 39.8% • Desserts = 53.6% • Manager’s Special Dessert 38.7% • Beverages = 90.2%

  13. Weekly Bar Sales 250 5.7% Food sales 4,125 94.3% Total Sales 4,375 Daily Bar Sales 63 4.6% Food sales 1,031 95.4% Total Sales 1,094 70 Covers/day @ $15.- Lunch Projection UPDATE

  14. Searching for Benchmarks… • Dinner Menu Mix – Fall 2007: $28.51 Ave. Check • Appetizers 45.1% • #1-Steak 20.4% • #2-Lamb 17.8% • #3-Salmon17.4% • #4-Chicken 14.9% • A la carte to banquet 69.5 / 30.5% • Desserts 51.9% • Beverages 192.8% • Bottled Wine 219 each • WBTG 291 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 55 Covers/day @ $37.- Dinner Projection Revisit

More Related