HBM 131 1st Edition Lecture 9Outline of Last Lecture:I. Your Food DollarII. Social MediaIII. Current EventsOutline of Current Lecture:I. SegmentsII. Other ClassificationsIII. How they get to those ClassificationsCurrent Lecture:I. SegmentsA. QSR (quick service restaurants)1. Fast food B. Fast Casual1. Sella, Penara Bear,2. Fast food but not full serviceC. Full Service1. Majority of restaurants, full serviceD. Fine Dining1. High end, expensive restaurants -Also: Cafeteria, and can be apart of Managed ServicesII. Other ClassificationsA. Ethnic (Chinese, Italian, Mexican)B. Specialty (seafood, BBQ, pizza)C. Family (play areas, activities, kid menus)D. Themed (rock n’ roll, movies, sports)E. Style (drive-in/drive-thru only, delivery/carryout only)III. How they get to those ClassificationsA. Types of ServiceB. Types of food offeringsC. Price points and average checksIV. PeopleA. Who runs the industry?B. Who works in this industry?1. Young, diverse peopleC. Management is key! What makes a good manager?1. Helpful, happy, caring manager 2. Sit down with employees and give feedback V. ProductA. QualityB. ConsistencyC. VarietyVI. ProfitsA. Key Percentages1. Food cost 30%2. Labor Cost 30%3. Prime Cost 60-70% -The cost percentage to just put food on the plate 4. Last 30%: insurance, rent, taxes, operating expenses, etc. VII. P &LA. Sales1. Costs of Goods (COGS)-Beverages, food products2. LABOR-Cost of labor, minimum wage and cost of food 3. Operations4. Occupancy=Product VII. Types of CostA. Fixed Cost1. Occupancy-Rent-Cams2. Bank Loan3. UtilitiesB. Variable Cost1. Direct labor-Hourly labor3. Food
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