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Lecture Food and beverage cost control (6th Edition): Chapter 10 - Dopson, Hayes, Miller

Chapter 10 - Planning for profit. This chapter presents the following content: Financial analysis and profit planning, menu analysis, cost/volume/profit analysis, the budget, developing the budget, monitoring the budget, technology tools. | Chapter 10 Planning For Profit 1 Main Ideas Financial Analysis and Profit Planning Menu Analysis Cost/Volume/Profit Analysis The Budget Developing the Budget Monitoring the Budget Technology tools 2 Financial Analysis and Profit Planning In addition to analyzing the income statement (the P&L statement) managers must undertake a thorough study of three additional areas of analysis to assist in planning for a profit. These three areas are: Menu Analysis Cost/Volume/Profit (CVP) Analysis Budgeting 3 Financial Analysis and Profit Planning Menu Analysis concerns itself with the profitability of each menu item sold. CVP analysis deals with the sales dollars and volume required to avoid an operating loss and to make a profit. Budgeting allows managers to plan their next accounting period’s operating results by projecting sales, expenses, and profits to develop a budgeted income (P&L) statement. 4 Menu Analysis Menu analysis involves marketing, sociology, psychology, and emotions. Guests respond best to menu item descriptions, the placement of items on the menu, prices, and item popularity rather than to financial analyses. 5 Menu Analysis Managers perform menu analysis using one or more of the following operational variables: Food cost percentage Item popularity Contribution margin Selling price Variable expenses Fixed expenses 6 Menu Analysis Three of the most popular systems of menu analysis are food cost%, contribution margin, and goal value analysis. The matrix analysis provides one method for comparisons between menu items. A matrix allows menu items to be placed into categories based on whether they are above or below menu item averages for factors such as food cost %, popularity, and contribution margin. 7 Menu Analysis 8 Menu Analysis Food cost percentage method: the operator seeks menu items that have the effect of minimizing overall food cost percentage. Contribution margin approach: the operator seeks to produce a menu that maximizes overall contribution . | Chapter 10 Planning For Profit 1 Main Ideas Financial Analysis and Profit Planning Menu Analysis Cost/Volume/Profit Analysis The Budget Developing the Budget Monitoring the Budget Technology tools 2 Financial Analysis and Profit Planning In addition to analyzing the income statement (the P&L statement) managers must undertake a thorough study of three additional areas of analysis to assist in planning for a profit. These three areas are: Menu Analysis Cost/Volume/Profit (CVP) Analysis Budgeting 3 Financial Analysis and Profit Planning Menu Analysis concerns itself with the profitability of each menu item sold. CVP analysis deals with the sales dollars and volume required to avoid an operating loss and to make a profit. Budgeting allows managers to plan their next accounting period’s operating results by projecting sales, expenses, and profits to develop a budgeted income (P&L) statement. 4 Menu Analysis Menu analysis involves marketing, sociology, psychology, and emotions. Guests .