When you use the proper ingredients and follow your standardized recipe correctly, it should produce a specific amount of product. If you adhere to your standardized portions, you should achieve the standardized yield. It is the number of salable portions you obtain from your standard yield that will allow you to recover the cost of preparing that item. If you don't have those four standards, you won't achieve consistency in quality, quantity, and cost.
Thought For The Day
"A good plan is like a road map: It shows the final destination and usually the best way to get there.."
The Difference Between Strategy and Tactics
To be successful at "marketing" your restaurant, you must understand the difference between a strategy and tactic. Your strategy might be to increase lunch and dinner sales. The tactic is the activity you use to put the strategy into play.
For example, the strategy might be "to attract college students as customers" while the tactics may involve sponsoring a college club or team.
Many small businesses waste money in marketing by employing tactics with no marketing strategy. Taking into account all of the information you've compiled so far from your marketing plan, you want to craft strategies to "accentuate the positive and eliminate the negative" and then, most importantly, determine which tactics will make those strategies successful.
Restaurant Start Up - Timely Financial Reporting
Lack of timely financial reporting has sunk thousands of restaurants. Operators who don't know where their restaurant stands financially are ill-equipped to recognize and deal with cost control issues. Minimum recommended financial reporting includes:
- Detailed profit and loss statement at least monthly
- Weekly prime cost status
- Daily cash reconciliation
- Knowing your break-even sales requirement.
With this information at hand you are able to make daily financial decisions to keep your restaurant running in the black.
"Some think itís holding on that makes one strong; sometimes itís letting go."
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