兜了一圈 还是要自己完成 那就当做英语笔记吧。

3/18

Sales and Promotions 销售和促销

Upselling and Suggestive Selling 追加销售和建议性销售

Upselling and Suggestive selling. Upselling and suggestive selling are techniques used to increase an establishments average spend and give Guests a better dining experience. Upselling requires an employee to suggest higher priced items or extra items that Guests hadn’t thought of ordering. Suggestive selling requires the promotion of specific items when taking Guests orders.

Let’s look at:

1 Upselling and suggestive selling in practice.  追加销售和建议性销售的实践

2 Incentivising upselling and suggestive selling.  为追加销售和建议性销售提供激励

Let’s see how to use upselling and suggestive selling in practice.

If a guest orders a  basic breakfast， a waiter can use this as an opportunity to practice his selling skills.The waiter can ask the guest if they are allergic to anything, or if they have any preferences regarding the way their eggs are cooked.

The waiter asks these questions to acquire some background knowledge on the guests preferences, which he can then apply to his selling techniques. With this background knowledge the waiter can offer the guest the larger breakfast option, whith a juice. By using upselling and suggestive selling skills, the waiter increases the average spend by encouraging the guest to buy more than he initially would have.

Now let’s have a look at how to Incentivize upselling and suggestive selling.  Incentivizing yoiur employees to use these selling techniques is important. For the most immediate incentive, start by explaining that upselling and suggestive selling could help to increase tips. This should montivate them to make use of these techniques. You could also consider incentives like a cash bonus to the employee with the highest sales, or a day off on their birthday.

To recap, we looked at: upselling and suggestive selling in practice, and incentivizing upselling and suggestive selling. With upselling and suggestive selling techniques, establishments can ensure great service, a hard working team and an increased average spend.

没兴趣 不翻译了

Introducing F & B Offers and Promotions 介绍餐饮优惠活动和促销

Introducing Food & Beverage Offers and Promotions. Using offers and promotions effectively and help an establishment increase Guest visits and drive sales. To find out what promotions work best for an establishment.

Let’s look at:

1 What promotions are 促销是什么

2 Analysing pormotions 分析如何促销

Let’s start by looking at What promotions are. An establishment will use promotions to drive sales of a certain item over a limited period of time. These specials are used to entice Guests to come to the establishment. An example of a good promotion, is free dessert, with every main meal. This promotion could run for a week, effectively increasing the number of Guests visiting the establishment during those seven days and driving sales with each main meal sold.

Managers need to evaluate promotions, to not only determine if they are effectively driving sales, but also increasing profit. By evaluating the ineffectiveness of unrealistic promotions, such as a free meal with every drink or a free car with every coffee, an effective promotion can be put in place. An optional free upgrade from a normal coffee to an artisanal coffee.

Let’s see how the manager decided on the coffee promotion by looking at: Analyzing promotions.

For a promotion to be successful in needs to affect the establishments revenue positively. The costs shouldn’t outweigh the returns. Analyze the establishments promotions over the course of a month and determined the cost of the promotion compared to how much revenue it generatede. This will give an overview on what promotions should still be used, and what promotions are ineffective.

In the next lesson we will look at new food and beverage promotions that are created especially for the establishments target market.

In this lesson, we covered: What promotions are and Analyzing promotions. ensure the establishment runs eggective promotions that are appealing to guests and analyze them to determine if they are generating revenue. Keep the establishments target market in mind for the next lesson as we look at new food and beverage promotions.

The costs shouldn’t outweigh the returns. 成本不能超过收益

New Food & Beverage Promotions 制订新的餐饮部促销活动

New Food & Beverage Promotions. To drive sales of a certain item over a period of time promotions need to be planned well in advance. In fact, they should be thouht about throughout the year. And jus like pricing menu items the promotions that a manager plans needs to appeal to the target market.

So let’s look at: Driving sales with promotions. 用促销推动销售

If establishments chooses to market specifically to businessmen, the promotions it offers need to reflect this. Let’s have a look at promotions through the eyes of this establishments target market. A free cup of tea with every piece of cake is an example of a promotion that would not appeal to this target market. The businessman has no desire to enjoy this kind of offer. A promotion more directed at this target market would be a two for one breakfast. Now he and his business partner can enjoy a delicious meal for breakfast and relax before work. Promotions cna be used to effectively drive sales. But they need to be critically considered and carefully planned, so they appeal to the target market that the establishment caters for. This is vital for increasing the revenue and ensuring return Guests.

critically considered 深思熟虑

3/19

Marketing Channels 销售渠道

Online and Offline Marketing Tools 线上和线下市场营销工具

Online and Offline Marketing Tools. Online marketing has become an essential tool for establishments as more and more people are using the Internet to find information and connect with people. This does not mean that more traditional advertising has become redundant, it just means that there are more options for the modern day marketer.

In the next few lessons we will look closely at the most effective marketing channels. But let’s start by briefly explaining: Online and offline marketing tools. There are a number of possible communication options to choose from but it’s important to choose the channel that works best for the establishment and gives the highest return on investment. The more traditional methods of advertising like print, television and posters can be a very effective way to catch a potential Guests eye. However, some of these methods can be quite costly, so the expenditure needs to result in an increaseing sales.

Internet guest reviews are visible to anyone who is searching for information on an establishment and they can easily give new guests the wrong impression. While there can be no direct influence on what a guest says in their review, negative reviews can be avoided by consistently offering exceptional service and a superior product.

In hospitality, guest loyalty programmes play a major role in promoting repeat business and keeping guests satisfied. A question that needs to be asked is: How can we ensure guest satisfaction and layalty? Establishment need to know their guests and understand what they want. Loyalty programs can help establishments engage with their guests better ang by advertising special offers to loyal guests, an establishment can entice new guests to sign up. With a bigger database of loyal customers an establishment will  have more guests to distribute promotions to.

Let’s move on to the progressive and very effective platform for marketing: Social media. There are billions of monthly active users on social media sites and this number continues to grow every day. This makes social media sites the ideal platform for extablishments to reach their desired target market. By using social media, establishment can reach potential guests on a larger scale and offer them promotions and specials directly.

In this lesson, we looked at: Online and offline marketing tools. All these tools can be used in conjunction with each other. This allows an establishment to target a wider audience and appeal to potential guests who prefer certain forms of communication. We will take a closer look at each channel in the next few lessons.

certain form 某种形式

Marketing Channels: 营销渠道

As we discussed in the previous lesson, there are many tools that can be used to reach a target market. In this lesson, we are going to look at:

1 Marketing channels that achieve marketing goals 实现营销目标的各种营销渠道

An advertising strategy should have on aim, to sell a product. Advertising is used to build awareness, inform, persuade and remind guests of waht an establishment has on offer. Advertising can be used to drive specific products, or the services an establishment offers. There are a number of mediums establishments can use to advertise a product. Including television, radio, magazines, posters, billboards, flyers, message boards, and the internet. When advertising, establishments don’t need to stick to one medium. They can use one of them, use three, or use them all.

The next channel is sales promotions. Which are short term incentives that encourage the sale of a product or service. To do this, certain promotional tools can be used. These could be coupons, happy hours or buy one get one free offers, competitions, or samples and gifts as an immediate reward of a purchase. Sales promotions attract attention and offer incentives to purchase. But this is often short lived and this channel is not as effective in building long term loyalty amongst guests.

Let’s move on to public relations. Public relations is a strategy used to reach people who avoid the more traditional forms of advertising, as it gets the establishments message across as news, rather than sales directed communication. A public relations strategy should not only maintain a favorable public image for an establishment, but should also include a plan for dealing with negative rumors and complaints. Guest opinion determines the success of a business. So it is important to manage the conversation about an establishment. Personal selling is a strategy that uses personal presentation by the sales staff to encourage sales and build relationships. Essentially, this is an establishment personal link to guests and requires a longer term commitment than other public channels. Personal selling requires four main tasks to be effective, these are:

1 Prospecting. Finding and establishing a relationship with potential guests.

2 Informign. Providing specific information about the establishment and the products.

3 Selling. This involves approaching, presenting, reaching opjectives and closing sales.

4 Relationship marketing. Building long standing relationship that lead to repeat guests.

Direct and online marketing is a strategy that emphasizes personalized interaction. It helps to establish dorect connections with carefully targeted individual guests to obtain an immediate response. This can be done by telephone, mail, email and the Internet. The potential success of direct marketing can be measured on the available information of guests. This allows an establishment to deliver personalized messages directly to guests.

To recap, we looked at: Marketing channels that achieve marketing goals. Determine which marketing channels will work best for the establishment. And make sure to use them effectively to attract new guests. And build and maintain relationships with existing guests.

short term incentives 短期激励

a longer term commitment 长期承诺

repeat guets 回头客

emphasizes personalized interaction 强调个性化互动

卖保健品的肯定都学过营销课

3/20

Reviews 评论

Reviews. It is important to know what people are saying about an establishment. Whither it is good or bad. Knowing what guests think will allow establishments and employees to improve, adapt and provide consistent service. The ideal situation is to ensure that guests are satisfied when they are at your establishment and that you solve any issues as they arise.

Unfortunately, sometimes you may not be aware of issues and guests may not bring them to your attention. Oftentimes they will voice their issues online. So in this lesson we will look at:

1 Online guest reviews

2 How to manage online reviews

Let’s start with online guest reviews. Service, quality of food, ambiance and location. All play a big part in how a guest will review an establishment. Let’s look at a scenario where the waiter is nervous, has little product knowledge and is slow during service. The service that this waiter is providing will begatively affect the guests experience. Let’s take a look at the first review. The waiter had no idea what was going on and didn’t seem to know anything about the food on the menu. I waited for ages before I realized that he had forgotten the order! I will not be returning.

Let’s look at a different scenario. If a waiter is attentive, knowledgeable and polite, and ensures that the guests are satisfied at all times, he would have succeeded in providing a great experience. Let’s have a look at the secoud review. What a spectacular evening, the waiter was very politer and made sure I was attended to throughout the meal. I really enjoyed the ambiance, and my meal was cooked to perfection. I will definitely return, with friends! These reviews are directly related to the service that the guests received and as we saw this will influence whether a guest plans to return. They are also likely to spread the word about an establishment after a positive experience. It’s important to remember that speedily served dishes and a clean restaurant don’t necessarily make for a positive review.An establishment also need to ensure that they connect with guests in a genuine way and provide excellent service.

Now that we know what the guests think, let’s look at How to manage online reviews. Guest feedback and complaints should be seen as a gift. their reviews allow establishments to make improvements and correct weak links that appear during service, and in a department as a whole. Speak to the team involved and ensure that they understand the mistakes they made. Encourage the team to find ways to improve. And be sure to reward their involvement for positive change. It’s good to acknowledge guests complaints and take ownership when resolving the issues. It shows a desire to listen and improve. Statistics show that guests who have lodged complaints and had them resolved, are often more loyal than guests who have never had a complaint.

When dealing with a good review it’s important to thank the guest for their positive feedback. A personal reply will encourage the guests to return because they feel recognized and appreciated.

Let’s summarize what we learnt in this lesson. We looked at: Online guest reviews, and How to manage online reviews. Sincere communication with guests can change the way that they perceive an establishment. It’s very powerful tool and should be used to ensure that future reviews are positive ones.

aware of issue 意识到问题

not be returning 劳资下次不来了

make improvements 做出改进

feel recognized and appreciated 觉得被认可和欣赏

positive ones 积极的一面

3/21

Loyalty Programmes 客户忠诚度计划 (会员项目）

Loyalty Programmes. Loyalty programmes are a great tool for engaging with existing guests, enticing potential guests and turning new guests into repeat customers. In this lesson we will look at:

1 What loyalty programmes are

2 The value of guest feedback

Let’s beging with what loyalty programmes are. In a food and beverage setting a loyalty program is a club or group that guests join, so that they earn points or credit from repeat visits to the establishment. For example, guests earn a loyalty point for every ten dollars they spend, that they could trade in for a complimentary beverage, or a discount on their meal. It provides guests with an added benefit for dining at an establishment and should be tailored to loyal guests. Many loyalty programmes are also tiered. So that the more loyal a guest is the greater their benefits are.

Let’s look at a scenario. A guest has returned to the establishment. The waiter does well to recognize the guest. He acknowledges her loyalty by thanking her for returning, seating her at her favorite table and immediately offering her a drink. Mrs Payne appreciates the personalized service and because of this she will continue to be loyal to the establishment. She swipes her loyalty card and earns some extra loyalty points. This ensures that she will continue to visit the establishment and she may move to a higher tier with even better benefits.

Now let’s take a look at the value of guest feedback. Mrs Payne has enjoyed her experience and will provide some valuable guet feedback. Feedback provides insight into guests needs and wants and how to tailor a service. The guest has mentioned a wine pairing and with this information the establishment can offer her what she wants.

Let’s recap what we learnt in this lesson: What loyalty programmes are, and the value of guest feedback. Use the concept of loyalty programmes and importance of guest feedback to make an establishment a comfortable and enjoyable place for guests to visit, time and again. Enjoy building lasting relationships through personal and tailored service.

complimentary 免费的

discount 打折

tailored 量身定制的

3/22

Social Media 社交媒体

Social Media. In 2014 more than two billion people were active on social media, that’s nearly one third of the global population and a lot of potential guests for managers to interact with. So it’s vital that managers use social media correctly. In this lesson, we’re going to learn about:

1 Social media users

2 How to market using social media

Let’s start with social media users. People of all ages use social media to interact with each other and wiht brands they love. Some age groups use social media more than others. The 18 to 34 group is the most active on social media. While the 55 and over group are the least active. In general, your average person spends almost two hours on social media daily. From social networking sites, to community driven sites, each will give you an insight into what your guests expect in terms of service and quality from your establishment. Social media is an excellent tool because you are able to target specific audience types. It also removes the barriers of distance and time so you are able to speak to potential guests instantly all over the world. It’s important for an establishment to have an online presence and monitor the conversation around it. Social media also allows you to be part of that conversation, so you can address compliments and complaints almost immediately. These days, if a guest has something to say about an establishment, they will more than likely take to social media to voice their opinions.

Now let’s have a look at how to market using social media. Social media is not something that drives itself. It needs constant attention if it is going to be successful. Guests need to be encouraged to like and follow an establishments social media profiles. Whether the establishment is on facebook, twitter or instagram, you need to create content and messaging that is purposeful and relevant to your audience. If your content is powerful and engaging,  loyal guests will share your posts with their network of friends and family for free and become ambassadors for your establishment. Good content keeps your guests interested and the conversation going. An establishment can attract new guests by using targeted marketing campaigns on social media sites, but these do incur extra costs and will take time to execute. You also need to make sure you are using the right type os site to spread your message. Taking time to understand how certain sites work and what users expect from each platform will help you target your guests more effectively. Guests who have liked, favorited or followed your social media pages would most likely have already visited the establishment. This guests are particularly important, because they already value the establishment. Achnowledging them will only increase their loyalty. Find ways to interact with them on a personal level. For example, it the site allows you to see details like birthdays or anniversaries you can use this information to attract them to the establishment on these special occasions, by wishing them on their special day. There is also another kind of guest on social media. This one, you will most likely find on the community driven sites. Like trip advisor.

If they are researching the establishment they will want to get a good understanding of what you offer. As well as what other guests have said about you. Because these sites are in the public domain, you are generally not able to remove negative comments about the establishment. It is especially important to monitor these sites to see what people are saying and to respond to negative reviews as quickly as possible. So potential guests see you value your patrons business.  Effective online marketing can connect an establishment wiht countless potantial guests. This could result in the establishment gaining greater exposure. Resulting in an increase in revenue and higher profits.

To summarize, we looked at: Social media users, and how to market using social media. Social media sites are essential for building lasting relationships with guests. It’s an important part of an establishments marketing plan and is integral to the success of the establishment.

brands 品牌

compliments and complaints 赞美和抱怨

engaging 吸引人的

incur extra costs 额外的支出

platform 平台

3/23

Managing Finance in F & B 餐饮财务管理

The Most Important KPIs in F&B – Part 1 餐饮部最重要的KPI 第一小节

The Most important Key Performance Indicators in Food and Beverage. Part one.

Welcome to advanced finance in food and beverage management. We are going to start with the most important key performance indicators, or KPI’s as they are also known. Understanding why they are necessary and how they can be calculated. In this lesson we are going to look at:

1 Revenue ratios 收入比例

2 Cost of sales ratios 销售成本比例

Let’s start with Revenue ratios. Revenue ratios are used to measure an establishments performance during service and determine whether revenue matches this performance. Calculating these ratios will provide information on what needs to be considered for increased revenue and success in the future.

The first revenue ratio is the food to beverage ratio. Which helps measure the upselling and suggestive selling efforts of employees. For this we divide the beverage sales by the food sales. Indicating how much beverages turned over as a percentage of food sales. The average spend is calculated by dividing the total revenue by the covers served. With this information, establishments can determine whether the average spend needs to be increased. This can be done by introducing new promotions and training teams on upselling and suggestive selling techniques.

total revenue ÷ covers served = average spend

总收入 ÷ 总服务人数 = 平均花费

Occupancy percentage of restaurants is calculated by dividing the number of covers served by the number of chairs available.

number of covers served ÷ number of chairs available = occupancy percenttage

餐厅服务总人数 ÷ 餐位数 = 上座率

This gives a clear indication of the use of total capacity. determining whether the establishment is reaching the required occupancy rate.

Revenue per available chair measure the efficiency of an establishment by multiplying the occupancy percentage by the average covers.

occupancy percentage × average covers = revenue per available chair

上座率 × 平均消费 = 平均餐位数收入 ？？

Occupancy percentage of banquet rooms is obtained by dividing the number of banquet rooms sold by the available banquet rooms.

number of banquet rooms sold ÷ available banquet rooms = occupancy percentage of banquet rooms

售出宴会厅数量 ÷ 可用宴会厅数量 = 宴会厅上座率

This can help to determine the capacity of banquet rooms and whether it is a successful income generating department.

To calculate other revenue per occupied room divide the revenue of other sources such as the minibar by the number of occupied rooms.

revenue of other sources ÷ number of occupied rooms = other revenue per occupied room

其它收入 ÷ 入住客房数 = 平均客房其它收入

This calculation can be used to analyze the success of other revenue sources in the establishment.

Next, let’s look at Cost of sales ratios. Cost of sales ratios will determine whether the costs associated with a menu item or an employee are justified. The goal for any business is to increase revenue and if costs to the establishment are too high, they need to be adjusted immediately.

The food and beverage cost percentage is calculated by dividing the cost of sales by the revenue.

cost of sales ÷ revenue = food and beverage cost percentage

销售成本 ÷ 收入 = 餐饮成本百分比

Utilizing this formula you can ascertain whether a menu item is worth producing based on how much revenue it generates. Work out the potential food and beverage cost percentage by dividing the standard cost, which is the standard recipe cost, multiplied by the actual sales mix, by the actual revenue.

standard recipe cost × actual sales mix = potential F&B cost percentage

standard cost ÷ actual revenue = potential F&B cost percentage

标准菜谱成本 × 实际各项销售支出 = 潜在的餐饮成本 ？？？

标准成本 ÷ 实际收入 = 潜在的餐饮成本

This shows the cost that should have been set based on the sales mix. Use it to analyze any discrepancies between present food and beverage costs and potential food and beverage costs.

Let’s recap what we learnt in this lesson. We look at: Revenue ratios, and cost of sales ratios. Remember these ratios when measuring an establishments performance against revenue and in the next lesson we will look at a few more key performance indicators, and how these can be utilized in an establishment to measure seccess.

Key Performance Indicators (KPI) 关键绩效指标

财务的事情完全看不懂

3/24

The Most Important KPIs in F&B – Part 2 餐饮部最重要的KPI 第二小节

The most important Key Performance Indicators in Food & Beverage. Part two. In the last lesson, we looked at two important ratio categories. Revenue and Cost of sales. In this lesson we will continue with key performance indicators and their roll in an establishment. In particular, we will look at:

1 Payroll costs 工资成本

2 Developing your own ratios 提升你负责团队的各项效率

Let’s start with Payroll costs. Analyzing payroll costs will help determine whether payroll costs and revenue are aligned. Revenue always needs to exceed payroll costs. If payroll costs are too high it will have a negative effect on an establishments income. The payroll cost percentage is determined per department by dividing the payroll costs by the revenue.

payroll costs ÷ revenue = payroll cost percentage

工资成本 ÷ 收入 = 工资成本百分比

This is the establishments largest expense and is usually between thirty five percent and forty percent. We can calculate the equivalent full time employees ( EFTE) based on the captured employee hours. First divide the standard weekly working hours by the days in the week and then multiply that by the days in the month.

total employee hours ÷ （standard weekly working hours ÷ days in the week × days in the month）= equivalent full – time employees

总员工工时 ÷ （标准周工作小时数 ÷ 每周天数 × 每月天数）= 全职员工数

By using this KPI, we can calculate the payroll per equivalent full time employee or EFTE. To calculate the payroll per EFTE, we divide the relevant departments payroll cost by the number of equivalent full – time employees.

relevant department’s payroll cost ÷ equivalent full – time employees = payroll per EFTE

相关部门的工资成本 ÷ 全职员工数 = 平均每个全职员工的工资

Now let’s work out revenue per equivalent full – time employee by dividing revenue by the number of equivalent full – time employees.

revenue ÷ number of EFTE = revenue per EFTE

收入 ÷ 全职员工人数 = 每个全职员工产生的收入

This calculation will show us how much average revenue is earned per employee. If revenue per employee is low it may mean that some employees are not performing well enough. Or they aren’t bringing in enough revenue.

Productivity in units per equivalent full – time employee is determined by dividing the number of units, number of units such as services or banquet rooms, by the number of equivalent full – time employees used.

number of units ÷ number of EFTE used = productivity in units per EFTE

单位数量 ÷ 使用的全职员工数量 = 每个全职员工的生产力

Employee turnover is worked out by dividing the number of employees that have resigned by the average number of current employees.

number of employees that have resigned ÷ average number of current employees = employee turnover

辞职员工人数 ÷ 当前员工平均人数 = 员工流动率

A lowered employee turnover means less training is required and the skill set of the existing team will be much higher. We can also work out absence through illness by dividing the number of sick days by the number of days worked.

number of sick days ÷ number of days worked = absence through illness

病假天数 ÷ 实际工作天数 = 因病缺勤率

Now that we know what the standard key performance indicators are, let’s look at Developing your own ratios. The key performance indicators are not limited to those we have discussed. Be analytical when coming up with ratios so that they match an establishments offering. Before getting started, define the objective of the ratio. The ratio should be set out to achieve an outcome. Let’s compare payroll costs percentage with guest satisfaction as an example. You only want to spend a certain amount of revenue on payroll costs but you also want positive guest experiences without complaints. By defining the goals of the KPI, you create a link between the two. You could also want to attract the best possible employees by offering higher wages. This should be compensated by higher productivity. By using the right ratios you can measure the success of your objectives.

Let’s recap what we learnt in this lesson. We looked at：Payroll costs, and developing you own ratios. Key Performance Indicators are very helpful tools when analyzing a department. Use the Key Performance Indicators we looked at in part one and part two further and find out what applies to your establishment, making sure that key performance indicators are critically analyzed.

3/25

The Complete, Monthly F&B Porfit and Loss Statement 完整的月度餐饮利润和亏损报表

The Complete Monthly Food and Beverage Profit and Loss Statement. A profit and loss statement is a summary of an establishment financial performance over a period of time. It should be set up using the standardized uniform system of accounts. Which is a tool for financial menagement reporting. It is used to record the revenue generrated and costs incurred by an establishment over a defined period of time.

For an example. The actual month and year to date values are already filled in for the previous year, budgeted and forecasted columns. Let’s fill in the actual current months values by looking at:

1 Revenue and cost of sales

2 Expenses

3 Overhead expenses, fixed costs and EBITDA

4 Tax

Let’s start with revenue and cost of sales. There are a few division that generate revenue and incur costs within a food and beverage department. To get an accurate view of the revenue generated from your establishment, you will need to take into account not only the income received from food and beverage sales, but also the costs incurred from breakages, wastage and the cost of ingredients. If the hotel offers room service, revenue is generated from food and beverage sales and costs are incurred from the raw ingredients used, and the upkeep of the room service equipment. The banquet room will generate revenue from venue and equipment thire such as audio visual systems. It will also generate revenue from food and beverage sales. Costs are incurred from the labor involved and raw ingredients used. Food and beverage sales and other sales can be filled in and added up to give the total sales for the actual current month. The cost of food and beverages and the cost of other sales can also be filled in and added to give the total cost of sales.

Now, let’s look at Expenses. Payroll expenses, which are employees’ salaries, wages and benefits, are costs to the establishment. Along with other expenses such as their uniforms and equipment. Let’s fill payroll and other expenses in on the profit and loss statement. With the cost of sales, payroll expenses and other expenses, we can calculate the departmental profit. To do this, subtract the total cost of sales, the payroll expenses and other expenses, from the total revenue.

Next, let’s look at the overhead expenses, fixed costs and EBITDA. Overhead expenses are the costs incurred that apply to the whole establishment, rather than a particular department, such as utility bills. These expenses are subtracted from the total departmental profit. And this results in the gross operating profit. Fixed costs are the costs incurred from equipment purchases and monthly rental, building insurance and real estate taxes.

Let’s fill in the fixed costs. The earning before interest, taxes, depreciation and amortization, or EBITDA, is calculated by subtracting the fixed costs from the gross operating profit. Equipment in the kitchen and food and beverage divisions incur costs due to depreciation and amortization. Costs are also incurred by bank loans taken out because they will accrue interest. The costs incurred from interest, depreciation and amortization can be filled in and subtracted from the EBITDA which results in the net operating profit before tax.

The final cost you need to consider is Tax. To determine the net operating profit the income tax is subtracted from the net operating profits before tax. The actual year to date column can be updated by adding the actual current months values to the values of the previous months of the year. Now a comparison can be made between the values in the actual column and the values in the budget, previous year and forecast columns. This is to see if enough was budgeted for the month and year, if the profits are better than the previous years and if the forecasted values are achievable.

We broke down the profit and loss statement by looking at the values for revenue and cost of sales, expenses, overhead expenses, fixed costs and EBITDA, and tax. The profit and loss statement is the tool you use to record the revenue made and costs incurred. Review the information from the statement to determine whether changs could be made in your establishment.

EBITDA 息税折旧及摊销前利润

已经完全看不懂了 也不怎么想搞懂

3/26

Introducing Budgeting 介绍预算编制

A well planned and carefully thought out budget is essential to an establishments success and can help to save time and expenses in the long run. There are some major objectives that need to be met when preparing for a budget. So in this lesson, we will look at:

1 Budgeting objectives 预算目标

2 Points to cover for market research 市场研究需要涵盖的要点

Let’s start with Budgeting objectives. To create an accurate budget, the first objective is to weigh up the alternatives of revenue levels and costs of an establishment. Stand back and critically analyze the department’s operations and the way they are organized. The budget can also be used to measure actual results. A budget is a planning tool and helps to determine how well management is able to organize operations, and how well they know the target market. This is important because it calculates the risks for investors, and what their required rate of return is. Budgeting is also future oriented and focuses on how to shape the environment. It also requires management to be more proactive rather than reactive. The next objective is to create awareness and involvement of the daily operations with depertment heads and senior managers. By being more involved in operations they can take on more responsibility and have more control over the financial results. The budget is also an excellent financial tool for communicating the department’s overall objectives and working methods, directly influencing the financial results. With all stakeholders, investors are able to analyze risk and estimate return on investment from an accurate budget. A budget is integral to a departments success and in turn its accuracy will confirm that investment in the establishment was justified. They have made long term commitments and require a return on their investment for the establishment to be seen as successful. When creating a budget, the competitive market needs to be analyzed. This analysis focuses on the establishments relative position and opportunities in the market.

Let’s look at points to cover for market research. These are economic trends, travel trends, social and demographic trends, technological trends, political developments, competition analysis, and stakeholder analysis. Use these points to ensure you understand the market and what you establishments position is. This information will help you to create an accurate budget, as you will understand what your establishment requires to succeed.

Let’s recap what we learnt in this lesson. We look at: Budgeting objectives, and points to cover for market research. By following these budgeting objectives, establishments can ensure an accurate budget, successful results and satisfied investors. Think and rethink budgeting objectives and optimize opportunities to maximize the department’s revenue.

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3/27

Departmental Budgeting 部门预算

Now that we have identified the budgeting objectives, we can take a closer look at the department. When organizing a departmental budget there are steps that need to be followed to ensure it’s accurate, so in this lesson we will look at:

1 The ten steps for departmental budgeting 部门预算的十个步骤

Step 1. Assessing demand. 评估需求。

Demand can be determined by market positioning inflation and price increases. Fist we need the average menu item prices from the previous year, and from this we can determine the price developments taking place. If inflation occurs, this will need to be reflected in the average menu item price to make up for increased costs. You need to consider opportunities for general price increases due to more demand and less supply. You may also need to decide whether to boost supply which will affect price, pr raose prices and decrease supply. Once you know the amount of ingredients and the price of menu items, you will still want to know the number of guests, as budget issues usually petain to guests and not menu items.

Step 2. Determine the number of covers per service. 确定每次服务的覆盖人数。

This is a link between the number of guests and how many of those guests you can expect at different times. Breakup services into meal periods. For example we can say that 60% of guests will be visiting the restaurant for breakfast, 20% will be here for lunch, 15% will be here for dinner and 5% will be here at another time.

Step 3. Determine the number of covers from outside. 确定外来客户的数量

If a restaurant caters to non hotel guests, estimate how many will visit the establishment. By using historical data, estimate the expected number of visitors and whether special promotional activities can be planned. The budget will need to reflect any extra costs if sales promotions are required.

Step 4.  Defining the average cover. 定义平均值

This step helps to assess the buying behavior of guests. To determine the average cover, you need to estimate the perfect client profile per meal period. Understanding your guests buying behavior allows you to budget for realistic revenue targets.

Step 5. Outlining additional sources of revenue. 概述额外的收入来源

These could be anything from service charges to additional establishment merchandise. You will need to link additional revenue sources to the number of guests visiting the establishment to get an accfurate understanding of the effect this revenue has on your budget.

Step 6. Calcuflate total revenue. 计算总收入

To do this, multiply step 3 by step 4 and then add step 5.

number of covers × average cover + additional revenue = total revenue

Step 7. Determine the cost of sales. 确定销售成本

To do this, establish what the food and beverage costs are as a percentage of revenue.

Step 8. Calculating payroll costs. 计算工资成本

To determine your payroll costs you will need to estimate your monthly covers, a productivity standard for wait staff and how many shifts are scheduled per month. For example. For dinner service we have budgeted 2500 guests for the month. The productivity standard is 16 guests to one waiter. That gives us 156 shifts for the month and 19 shifts per waiter for the month based on an average, which means we need 8,2 waiters for the month. That average salary per month is $1700, plus some additional charges such as pension and vacation pay. Making the total payroll per waiter $2414. Multiply the payroll per waiter by the number of waiters required for the month. So we have worked out that our payroll cost id $19794,80,  You want to organize work as efficiently as possible and have clear standards for service. Keep in mind that there will be high and low periods, but by analyzing payroll costs you will gain insight into operations and possible opportunities to improve.

Step 9. Defining other expenses. 定义其他费用

These expenses of fixed or variable and could include linen, decorations or cutlery. If they are fixed costs, you will be able to budget for them quite accurately. variable costs are a bit more difficult to determine and budget for as they fluctuate dependent on need. Ideally these expenses should be expressed as a unit per guest. The units per guest in combination with the purchase price, will give you the variable cost. If it is difficult to express expenses as units per guest, a percentage will do.

Step 10. Calculating departmental profit. 计算部门利润

Once all the expenses within the department have been worked out, calculate the department’s profit. Don’t just change numbers, rethink the logic you have been applying. It there is an issue in the process start with step 1 again.

Let’s recap what we learnt in this lesson. The 10 steps for departmental budgeting. Departmental budgeting is essential in the organization of any department within an establishment. It ensures that all processes and operations are well planned. Be sure to follow these 10 steps. And enjoy the benefits of having more control over a department and it’s expenses.

后面这几节财务课学完就拉倒了，完全没兴趣，下个月开始还是学和烹饪有关的课吧。

3/28

FF&E Investments and Refurbishment Plans 固定资产投资与翻新计划

Furniture, fitting and equipment investments and refurbishments plans are organized throughout the year, so that an overview of these processes and associated costs can be kept. With an overview of these expenses, establishments will be able to see what is scheduled to be done. and when these upgrades and refurbishments need to be done. To find out how to do this, we will look at:

1 How to plan FF&E investments and refurbishment plans 如何规划固定资产投资和翻新计划

The best way to organize an FF&E investment and refurbishment plan is with a gantt chart. Let’s look at an example. In the first column we can see what needs to be done.  Column two and three lists the person responsible and the available resources respectively. The gantt chart needs to detail the 6 key steps in the process.

Step 1. plan 计划

Step 2. Receive quotes. 接受报价

Step 3. Place the order 下订单

Step 4. Receive the delivery 收货

Step 5. Store the delivery 存储货物

Step 6. Install the item. 安装

When preparing your gantt chart, include all these steps under the item that needs to be dealt with. As mentioned, the who column identifies who is responsible for carrying out each step. The maintenance team is in charge of the installation, whereas the manager may be in charge of placing the order. Resources will tell us how much money is spent on completing each step. Managers must plan the time needed to carry out each step. This can be done using the gantt chart. We have a year, from January to December, to plan our investments and refurbishments. Now let’s workout our time frame.

Let’s look at an example. To plan for the replacement of light fittings in the establishment, we have the month of January. In the month of February quotes area received and an order is placed for new light fittings.  In March, we can expect the delivery. And for March,April and May, the delivery  can be stored, and the maintenance team can install the new light fittings.

Let’s quickly recap what we learnt in this lesson. We looked at: How to plan FF&E investments and refurbishment plans. By using a gantt chart for furniture, fitting and equipment investmentsn and refurbishment plans, we can plan and control the process properly. This ensures that everything in the establishment is done by the right person, When it needs to happen.

3/29

Identifying Weak Points 识别薄弱环节

A team of capable and effective employees, efficient processes and standard operating procedures need to be in place for your department to perform successfully. To avoid the high costs of inefficiency and poor planning, we will look at:

1 How to identify and determine weak points 如何识别和确定弱点

Your profit and loss statement is one of the best tools to help you identify weak points within your department. The profit and loss statement would allow us to compile and compare KPIs and ratios against competitive establishments. There are also accessible reports online by PWC, KPMG, or Hosta, where we can compare an establishment to its competitors. Analyzing these online reports can determine if the department has any bottlenecks. Bottlenecks are obstacles that harm an establishments operations. This could be hardware, or human error, such as a POS system that isn’t functioning properly, or a chef who is unsure of how to cook a dish correctly. To ensure the efficiency of employees and processes, standard operating procedures need to be analyzed for effectiveness and revised if bottlenecks are present. Make sure that the department is following the correct processes and if some processes are outdated, or simply aren’t working, change them.

Let’s recap what we learnt in this lesson. We look at: How to identify and determine weak points. Have a good look at the department’s operations, and take the time to ensure that weak points are identified and removed, and that the depertment is running efficiently.

PWC 普华永道 PricewaterhouseCoopers

KPMG 毕马威

3/30

Driving Profits 推动利润增长

In essence a business is only successful if it’s profitable and your establishment is no different. Let’s look at:

1 Profit driving strategies and how to implement them. 盈利驱动策略及其实施方法

There are three strategies we are going to look at to help drive profits. The first strategy is to sell more food and beverage. There are a few ways to do this.

For example. Create well thought out promotions that appeal to the establishments regular guests, or create better marketing of the food and beverage establishment from concierge and front office. This will help increase food and beverage sales. The second strategy is to sell more food and beverage per guest. This strategy is implemeted to increase the average spend and requires upselling and suggestive selling. But this also be a dangerous short sighted strategy for minimally profitable establishments that are not prepared for high traffic volumes. This could have a vegative effect, increasing financial risk and elevating employee stress. The third strategy is to build repeat dining visits and sell food to guests more often, driving repeat business.

Let’s explore five points within this strategy. Make sure to check these points when considering improvements.

01 The first thing guests will look at is the menu. Menu should be revised and adapted to guest needs, menu prices and culinary trends. When menu engineering is done correctly it can increase sales and improve the average spend per guest.

02 Well planned food merchandising can help to minimize product deterioration, encourage training amongst employees and meet high volume demands.

03 When pricing dishes find the optimum price for a certain quantity at a certain demand. This doesn’t mean all the dishes should be priced higher. Lovering a dishes price can result in higher profits. As a result of higher demand for a quality product at a lower price.

04 Training a team correctly will drive profits. Well trained employees will be more motivated to work harder for tips or a promotion, Which will improve operations. Waiters are brand ambassadors of an establishment. Bot just people who serve guests. Key points for training should include food promotion, waitstaff training aimed at uselling,  Guest service culture, and menu reengineering.

05 Finally, you should take a good look at your internal operations. If there are issues within the establishment, they need to be dealt with as soon as possible. A thorough analysis of operaions can uncover a loss of ten cents on a daily basis. A seemingly minimal loss, Which when addressed could end up saving a department thousands in the long run.

Let’s quickly recap what we learnt. We looked at: Progit driving strategies and how to implement them. Use the strategies we discussed in this lesson and look for opportunities to drive profits in the establishment. Remember that every establishment is different, so analyze what works best for the establishment and team, and implement necessary changes today.