|
| |
Restaurant Reports Compare Food Cost, Beverage Cost, Labor, and Utilities
to Similar Area Restaurants
|
|
|
How
Does Cost-Watch Work? |
|
|
|
Simply stated, Cost-Watch allows you to
enter certain key items from your food service operations profit and loss
statement (P&L), as a percentage of
sales, and then compare them against the averages of similar restaurants in your
area. It also allows you to see how your restaurant's food, beverage, labor and
utility costs are trending and how they compare to the trends in the local market.
|
|
| Details
of Our Service |
|
Now you can have the key financial
information previously available only to large restaurant chains and franchises.
The numbers you receive from your accountant only tell you how you stack up
against yourself they do not account for market changes, price increases, the
labor market, or your competition. With Cost-Watch you can get the 5 most
important factors to the success of your restaurant every month in a format that
will become your best management tool. With your monthly reports you can monitor
how your costs and profits compare to similar area restaurants. More importantly you can see if your costs are rising or falling
in the same direction and at the same rate as similar restaurants. This allows
you to know if changes are due to market conditions or are the result of
internal operations of your business.
When your accountant tells you your labor cost is up 3% you might over react and
reduce labor. But when Cost-Watch shows others in your area are up 4% you could
pat yourself on the back for doing better than the average!
If your P&L show your food cost is down 2% you might be happy but if
Cost-Watch shows that similar restaurants in your region were down an average of
4% You would know that you need to take corrective action! Which numbers are
more useful?
To keep things simple we only monitor your controllable expenses including food,
beverage, labor, and utility expenses. We show all other costs as one category
and by seeing how you stack up against the competition in these five key areas
you will know if you are getting your fair share of the profit. Your Cost-Watch
membership will help you with purchasing, pricing, payroll expenses, and will
help you quickly spot internal loss or management problems.
You will take your basic financial information each month and enter it into our
database via our secure web site. We will analyze and merge it to get averages
by area, and restaurant type to produce your custom report that will be
available to you in your password protected Cost-Watch membership area. We are not a
replacement for your accountant but we are an enhancement that will take your
financial information and make it useful to your management team.
The Cost-Watch web site accepts no advertising, so you can count on unbiased
information. For security reasons your data is not emailed but must be input and
retrieved through your password protected access to our secure members only web
pages. With a 1 year paid subscription your monthly cost average is only $12.50.
The total annual membership fee is $150.00 and may be paid by check or credit
card.
Now due to the Internet's ability to communicate and manipulate large amounts of
data in a secure environment you can have timely information that will enhance
your business success. Now instead of only working against your own numbers you
can track your performance against the competition.
We keep score
- YOU WIN !
|
|
Restaurant