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Survival Tool Part 2: Sharpening Your Multi-Faceted Tool - Shared screen with speaker view
CJ Seitz
37:22
I was
Madeline Rosenvinge
37:36
I was here too!
Kevin Hoult
38:10
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Saara Kuure
43:58
Fixed are rent, utilities. Variable are COGs and labor.
Saara Kuure
57:43
This is so different than restaurants usually calculate these things. Restaurants are usually aiming at max 30% labor, max 30% COGs, leaving 40% for profit and overhead. I'm used to looking at the numbers in this way so just struggling to catch up with the concepts. :)
Saara Kuure
59:34
I'll have all my homework done before the next seminar!
Kevin Hoult
01:00:05
Good point Saara, those ratios were easier to maintain before all the changes in wage and hour laws and the crazy food cost increases.
Saara Kuure
01:01:15
I have numbers from 2019 since we aren't operating in 2020 so I'll adjust them to estimate post-Covid with increases in labor/food costs.
Madeline Rosenvinge
01:13:59
If anyone missed the last webinar and would like to watch it for more information, click on this link: https://wwu-edu.zoom.us/rec/share/n91O-zYpb9fqlz3HLDOi70ncCp_2j3yjhZciHLjgP-qkPaBGB1tFPSnbzC6EtXwc.2_kK4mfpPZzxiANA
Erica Lamson
01:16:05
Great webinar. No questions yet. Thank you!
Saara Kuure
01:16:30
Heck no … we calculate the whole menu
Saara Kuure
01:16:58
We also use keystone pricing on our candy retail side
Saara Kuure
01:17:59
I ran a breakeven calculator for 2020 and found that it wasn't profitable to operate right now
Saara Kuure
01:18:59
Yes, waste sheets are important. We run a slightly different menu when we're open weekends only in spring vs. summer. We're summer only.
Saara Kuure
01:19:03
Our keystone is 2.6
Saara Kuure
01:19:18
We have 2 businesses café/pizzeria and candy retail
Saara Kuure
01:20:11
Keystone only applies to purchase/sold candy items not homemade items which are calculated with COGs/labor
Erica Lamson
01:21:41
Great point about pricing. Thank you, Kevin.
Saara Kuure
01:23:20
Thank you! I will be running these numbers again
Erica Lamson
01:23:22
Thank you! Very informative. I look forward to the next webinar.