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Historical Benchmarks

Historical Benchmarks. HRT 383 Lunch & Dinner Winter 2006. 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 2006

  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 2005, Fall 2005: • Appetizers 46.9% - 49.7% • Manager’s Special App 31% - 31.8% • #1-Selling Menu Entrée – RKR Burger 10.6%- 10.7% • Turkado = 10.5% Fish Taco 10.5% • Quesadilla = 6.8% • Manager’s Special Entrée 32.3% same • A la carte to banquet = 74.9/ 25.1% - 72.4/27.6% • Desserts = 46.2% - 46.1% • Manager’s Special Dessert 31.9% - 33.3% • Beverages = 89.7% - 87.3%

  13. Searching for Benchmarks… • Dinner Menu Mix – Winter 2005, Fall 2005: • Appetizers 62.6%52.8% • #1-Sirloin 31.9% • #2-Lamb 16.7% • #3-Salmon14.3% • A la carte to banquet 70.8 / 29.2% 75.6/24.4% • Desserts 56.1% 68.5% • Beverages 115% 136.4% • Bottled Wine 106 each 160 • WBTG 303 each 279

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