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For more great Trade Secrets and tools, take a look in
the Archives!
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Bill Main & Associates
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The results from our foodservice
terms Pop Quiz are in. Congratulations to our A+ students...you know
who you are. And for those who didn't study, or failed to show up for
the exam, here are the answers. But get ready...you never know when another
Pop Quiz might appear!
- 4-Walls Marketing
- (G) Marketing a business to existing customers
- Employee Turnover Ratio
- (D) A measure of the number of employees you replace each year.
The higher your employee turnover ratio, the higher your labor costs.
Want to calculate yours, and learn ways to lower it? Check out the Put
People First tip in the archives.
Mystery Shopper
- (V) A person hired to give feedback on business operations and
service. From the cleanliness of your restrooms to the greeting
at the front door, anonymous Mystery
Shoppers give an objective assessment on every aspect of the dining
experience.
Operating Income
- (Q) Income before interest expense and corporate overhead.
P.O.P.
- (T) The point of purchase. A great place to influence impulse
(high profit) purchasing decisions.
Sequence Of Servic(e)
- (K) A systemized approach to control interactions with restaurant
guests. It begins the moment your guests enter the parking lot,
and ends when they walk out the door. Training your staff to master
the Sequence of Service can lead to increased sales and loyal customers.
Want help? Check out the 10
Ways to Increase Your Average Check and 11
Ways to Keep Your Customers Coming Back training videos.
Yield
- (Y) The portion of a product that can be utilized. Are you
getting maximum yield from your products? Take a look in the garbage
cans. Is there usable product being thrown away? Remember...high
waste = high food cost. Want to know more? Check out the Trade
Secrets Kitchen Systems Training Manual.
Ticket Turn Time
- (M) Elapsed time from entering an order to serving an order. A
great way to measure kitchen and dining room efficiency. Remember, if
you can measure it, you can manage it.
Uniform System Of Accounts For Restaurants
- (O) A preferred method of allocating income and expenses for restaurants.
Available through the National
Restaurant Association, the Uniform System of Accounts for Restaurants
contains examples of balance sheet, wage-control reports and an expense-classification
system. Using this system allows you to compare your "numbers"
to national standards for restaurants and markets like yours.
Prime Cost
- (A) Food, beverage and labor expenses. It's the 80/20 theory
on steroids. Typically, 70% of your expenses will come from just 3 categories
on your Income and Expense statement--food, beverage and labor. Lower
costs isn't always the answer. Read the weekly tips to learn how to
work smarter, not harder.
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