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Analyzing Historical Benchmarks for Winter 2008 Lunch and Dinner Menus

This analysis presents historical benchmarks for lunch and dinner menus during Winter 2008, focusing on measurable metrics such as average check amounts, item sales percentages, and total sales. It highlights significant items from the menus, including the top-selling entrées and appetizers, and compares a la carte and banquet sales. Cautionary notes emphasize the importance of comparing similar metrics and accounting for seasonal variances. By utilizing these historical data points, restaurants can make informed decisions to enhance their menu strategies and optimize profitability.

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Analyzing Historical Benchmarks for Winter 2008 Lunch and Dinner Menus

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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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