Our services include benchmarking small business ratios and financial information – Small operators use historic data and networks to assess whether their financial indicators are correct. Ratio bands for labour cost, average customer spend and production costs will allow small business to assess performance against competitors and their wider industry.
Cost Ratios
Create some benchmarking ratios that Calculate individually to show the contribution of each area to total sales. This is used to assess the amount of product being sold served and prepared in each department (kitchen / bar) and helps assess workload vs. sales for people working in that department.
Customer Satisfaction
The development of a formal customer satisfaction programme would increase the data currently collected primarily through informal feedback. A survey template created to allow operators to question their customers using a generic tool and then enter the data for some relevant feedback and information, would reduce the pressure on small business to develop individual surveys and increase formal customer satisfaction information throughout the sector.
Data Sharing
Creating a forum for data sharing could help develop efficient systems and procedures for small business’s that do not have the advantage of being part of a multi level large business with comparison assessments. It is likely that this forum may need to be anonymous, as although operators are positive about understanding other approaches to their challenges, they are also protective of core business data.
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