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Historical Benchmarks

Historical Benchmarks. HRT 383 Lunch & Dinner Spring 09. 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 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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