The document discusses determining sales forecasts and maintaining accurate sales histories in the hospitality industry. It explains that sales forecasting is important for budgeting, planning, and estimating future growth. An accurate sales history records all sales achieved during a predetermined time period and is used as the basis for predicting future demand. The document provides examples of how to calculate different types of averages, including fixed and rolling averages, from sales history data. It emphasizes the importance of regularly updating sales histories to have good sales information for making managerial decisions.
Forecasting is a necessary and efficient tool that can give a company plenty of competitive advantage. Traditional methods of sales forecasting focused primarily on roll up of committed sales deals display intrinsic weakness due to their monotony of strategy across agreed sales period. This tends to produce inaccuracy in sales forecast, promotes sandbagging and reduces sales motion. Enhanced models centered on identifying weighted revenue through probabilities for opportunities by category also fail to recon in swing deals and ignores new opportunities in the pipelines. In this paper, I propose a better, dynamic method based on probabilities customized for each sales period.
Predictions You Can Rely On: How Data Drives Successful Financial ForecastingAggregage
In this exclusive webinar with Robbie Bhathal, Founder & CEO of Brightflow AI, you'll learn how to track the right data, forecast your cash inflows and outflows, and use strategic cash management to build a thriving business!
Forecasting is a necessary and efficient tool that can give a company plenty of competitive advantage. Traditional methods of sales forecasting focused primarily on roll up of committed sales deals display intrinsic weakness due to their monotony of strategy across agreed sales period. This tends to produce inaccuracy in sales forecast, promotes sandbagging and reduces sales motion. Enhanced models centered on identifying weighted revenue through probabilities for opportunities by category also fail to recon in swing deals and ignores new opportunities in the pipelines. In this paper, I propose a better, dynamic method based on probabilities customized for each sales period.
Predictions You Can Rely On: How Data Drives Successful Financial ForecastingAggregage
In this exclusive webinar with Robbie Bhathal, Founder & CEO of Brightflow AI, you'll learn how to track the right data, forecast your cash inflows and outflows, and use strategic cash management to build a thriving business!
The Complete Guide to Developing a Marketing BudgetRichard Hatheway
Marketing budgets are a business critical tool, as they help you determine what the costs will be for the various campaigns, programs and activities that the Marketing Department runs throughout the year. Unfortunately, most marketers don’t know how or where to begin creating a budget. While business courses in college may have touched on the subject, the reality is that most marketers learn how to develop a budget on the job, often through trial-and-error.
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Case Study 1 (Part A)Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions7 How should mixed costs be classified in CVP analysis? What approach is used to effect the appropriate classification?
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A finance strategy is an important component of the overall strategic plan of a business, outlining how the business plans to arrange and manage funds required for its operations to meet its objectives.
David Stack: Financial Reporting: Building a Strong StructureDavid Stack
David Stack is a chief financial officer with over 20 years of success in leading global financial operations for growing companies, particularly those in the software as a service (SaaS) industry. In this presentation, David shares 6 essential categories of data that every financial advisor should use to identify upcoming trends in their business/organization.
The Complete Guide to Developing a Marketing BudgetRichard Hatheway
Marketing budgets are a business critical tool, as they help you determine what the costs will be for the various campaigns, programs and activities that the Marketing Department runs throughout the year. Unfortunately, most marketers don’t know how or where to begin creating a budget. While business courses in college may have touched on the subject, the reality is that most marketers learn how to develop a budget on the job, often through trial-and-error.
This blog will provide an overview and outline of the basic steps needed to develop a marketing budget from scratch.
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Case Study 1 (Part A)Analyze the impact of business transactions on accounts; record (journalize and post) transactions in the books; construct and use a trial balance) During the first month of operation of Gordon Construction, Inc., completed the following transactions7 How should mixed costs be classified in CVP analysis? What approach is used to effect the appropriate classification?
Keith turner quick silver funding solutions - finance strategy can ensure bu...keithturnerquicksilverfun
A finance strategy is an important component of the overall strategic plan of a business, outlining how the business plans to arrange and manage funds required for its operations to meet its objectives.
David Stack: Financial Reporting: Building a Strong StructureDavid Stack
David Stack is a chief financial officer with over 20 years of success in leading global financial operations for growing companies, particularly those in the software as a service (SaaS) industry. In this presentation, David shares 6 essential categories of data that every financial advisor should use to identify upcoming trends in their business/organization.
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Hamdard Laboratories (India), is a Unani pharmaceutical company in India (following the independence of India from Britain, "Hamdard" Unani branches were established in Bangladesh (erstwhile East Pakistan) and Pakistan). It was established in 1906 by Hakeem Hafiz Abdul Majeed in Delhi, and became
a waqf (non-profitable trust) in 1948. It is associated with Hamdard Foundation, a charitable educational trust.
Hamdard' is a compound word derived from Persian, which combines the words 'hum' (used in the sense of 'companion') and 'dard' (meaning 'pain'). 'Hamdard' thus means 'a companion in pain' and 'sympathizer in suffering'.
The goals of Hamdard were lofty; easing the suffering of the sick with healing herbs. With a simple tenet that no one has ever become poor by giving, Hakeem Abdul Majeed let the whole world find compassion in him.
They had always maintained that working in old, traditional ways would not be entirely fruitful. A broader outlook was essential for a continued and meaningful existence. their effective team at Hamdard helped the system gain its pride of place and thus they made an entry into an expansive world of discovery and research.
Hamdard Laboratories was founded in 1906 in Delhi by Hakeem Hafiz Abdul Majeed and Ansarullah Tabani, a Unani practitioner. The name Hamdard means "companion in suffering" in Urdu language.(itself borrowed from Persian) Hakim Hafiz Abdul Majeed was born in Pilibhit City UP, India in 1883 to Sheikh Rahim Bakhsh. He is said to have learnt the complete Quran Sharif by heart. He also studied the origin of Urdu and Persian languages. Subsequently, he acquired the highest degree in the unani system of medicine.
Hakim Hafiz Abdul Majeed got in touch with Hakim Zamal Khan, who had a keen interest in herbs and was famous for identifying medicinal plants. Having consulted with his wife, Abdul Majeed set up a herbal shop at Hauz Qazi in Delhi in 1906 and started to produce herbal medicine there. In 1920 the small herbal shop turned into a full-fledged production house.
Hamdard Foundation was created in 1964 to disburse the profits of the company to promote the interests of the society. All the profits of the company go to the foundation.
After Abdul Majeed's death, his son Hakeem Abdul Hameed took over the administration of Hamdard Laboratories at the age of fourteen.
Even with humble beginnings, the goals of Hamdard were lofty; easing the suffering of the sick with healing herbs. With a simple tenet that no one has ever become poor by giving, Hakeem Abdul Majeed let the whole world find compassion in him. Unfortunately, he passed away quite early but his wife, Rabia Begum, with the support of her son, Hakeem Abdul Hameed, not only kept the institution in existence but also expanded it. As he grew up, Hakeem Abdul Hameed took on all responsibilities. After helping with his younger brother's upbringing and education, he included him in running the institution. Both brothers Hakeem Abdul Hameed and Hakim Mohammed
Roti Bank Hyderabad: A Beacon of Hope and NourishmentRoti Bank
One of the top cities of India, Hyderabad is the capital of Telangana and home to some of the biggest companies. But the other aspect of the city is a huge chunk of population that is even deprived of the food and shelter. There are many people in Hyderabad that are not having access to
Roti Bank Hyderabad: A Beacon of Hope and Nourishment
MODULE 2.docx
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1
CHAPTER 2
DETERMINING SALES FORECAST
The success of many companies depends on how well they are forecasting their demand. It is one of the
important tools for any organization. Estimating the need for future during the present times is called the
demand forecasting. Forecasting is done to understand the demand that may arise in the future based on
the present sales. That is why forecasting is often referred to as demand forecasting. For predicting the
future, past demands along with the present demand are considered. Forecasting is a decision-making tool
used by many businesses to help in budgeting, planning and estimating future growth. In the simplest
terms, forecasting is the attempt to predict future outcomes based on past events and management
insights. Also, this forecasting is done scientifically. It is done on the events. Thus, facts related to it are
considered. Therefore,an estimate can be made to forecast future demand. This is done by gathering
knowledge about various aspects of the market. Thus, this is the concept that we use for forecasting. In
the current situation, there is a need to take the right decisions. Because the market is very competitive.
Thus, it becomes important to make the right planning for business events. Also, this decision taken by
the managers is based on its accuracy. Thus,demand becomes important to achieve business objectives.
At the end of each topic, activities will also be given to assess your understanding of the subject being
taught.
At the end of this chapter, you will be able to:
Formulate methods and procedures in creating accurate histories of previous sales as well as the
projections of how much to be sold in the future
Explain the steps and procedures to record current sales
Compute percentage increases in sales over time
Develop a procedure to predict future sales
This unit covers the following topics:
Topic 1 – Importance of Forecasting Sales
Topic 2 – Sales History
Topic 3 – Maintaining Sales History
Topic 4 – Sales Variances
Topic 5 – Predicting Future Sales
MODULE 2
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IMPORTANCE OF FORECASTING SALES
Sales are the lifeblood of a business. It's what helps you pay employees, cover operating expenses, buy
more inventory, market new products, and attract more investors. Sales forecasting is a crucial part of the
financial planning of a business. It's a self-assessment tool that uses past and current sales statistics to
intelligently predict future performance. With an accurate sales forecast in hand, you can plan. One simple
sales forecast can inform every other aspect of your business. Sales forecasts are an important part of
starting a new business. Almost all new businesses need loans or start-up capital to purchase everything
necessary to get off the ground: office space,equipment, inventory, employee salaries and marketing. You
can't just walk into a bank with a bright idea and lots of enthusiasm. You need to show them numbers that
prove your business is viable. In other words, you need a business plan. As your business grows, sales
forecasts continue to be an important measurement of your company's health. In the hospitality industry,
we have many ways of counting or defining sales. In its simplest case, sales are the amount of revenue
collected during some predetermined time. The time may be an hour, shift, day, week, month, or year.
When used in this manner, sales and revenue are interchangeable terms. When you predict the number of
guests you will serve and the revenues, they will generate in each future time period, you have created a
sales forecast.Youcandetermine your actualsalesfor a current time by using a computerized systemcalled
a point of sales (POS) system that has been designed to provide specific sales information. Alternatively, a
standard cash register,or even manually produced guest checks or head counts, will help you establish how
many sales were completed. Today, however, even the smallest of foodservice operations should take
advantage of the speedand accuracyprovided by computerized programs for recording sales. Itis important
to remember that a distinction is made in the hospitality industry between sales (revenue) and sales volume,
which is the number of units sold.
Advantages of Precise Sales Forecasts
1. Accurate revenue estimates
2. Improved ability to predict expenses
3. Greater efficiency in scheduling needed workers
4. Greater efficiency in scheduling menu item production schedules
5. Better accuracy in purchasing the correct amount of food for immediate use
6. Improved ability to maintain proper levels of nonperishable food inventories
7. Improved budgeting ability
8. Lower selling prices for guests because of increased operational efficiencies
9. Increased dollars available for current facility maintenance and future growth
10. Increased profit levels and stockholder value
THOUGHTS TO REMEMBER:
In the simplest cases, SALES are the dollar (or other currency) amount of revenue collected during
some predetermined time period.
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TOPIC 2
TIME PERIOD may be an hour, a shift of various lengths, a day, a week, a month, or a year.
When used in this manner, sales and revenue are considered interchangeable terms.
● When you predict the number of guests you will serve and the revenues,they will generate in each
future time period, you have created a SALES FORECAST.
● You can determine your actual sales for a current time period in a variety of ways; however, may
foodservice managers utilize a computerized system called POINT OF SALES (POS) system,
which is designed to provide specific sales information.
● SALES VOLUME is the number of units solved.
SALES HISTORY
A sales history is the systematic recording of all sales achieved during a predetermined time period. It is
no less than an accurate record of what your operation has sold. You can determine the daily sales either
from your POS system, from sales revenue recorded on your cash register, or from adding the information
recorded on your guest checks. You would then transfer that number, daily, to the sales history by entering
the amount of your daily sales in the column titled “Daily Sales.” “Sales to Date” is the cumulative total of
sales reported in the unit. Thus, Sales to date is the number we get when we add today’s sales to the sales
of all prior days in the reporting period. Sales History is used for sales forecasting, i.e., predicting future
sales of a product or the sales of a future product. Sales forecasting in-turn helps to determine volume of
future sales, which is important information for budgetary allocations. Hence,sales history forms the base
of important product decisions.
Sales Period Date Daily Sales Sales to Date
Monday 1/1 P 851.90 P 851.90
Tuesday 1/2 974.37 1826.27
Wednesday 1/3 1004.22 2830.49
Thursday 1/4 976.01 3806.50
Friday 1/5 856.54 4663.04
Saturday 1/6 1428.22 6091.26
Sunday 1/7 1241.70 7332.96
Week’s total P 7332.96
SALES TO DATE is the cumulative total of sales reported in the units. SALES TO DATE is the number
you will get when you add today’s Daily Sales to the sales of all prior days in the REPORTING
PERIOD, the time period for which sales record are being maintained.
To illustrate, Sales to Date on Tuesday, January 2 is computed by adding Tuesday sales to those of the prior
days (851.90+974.37 = 1826.27). In some situations, you will not have the ability to consider your sales in
terms of revenue generated. Sales histories can be created to record revenue, guests served, or both. It is
important, however, that you keep good records of how much you have sold because doing so is the key to
accurately predicting the number of sales you will achieve in the future.
Sales history helps the analysts determine the recent sales trends to spot patterns of buying behavior or
cycles in sales revenue. These trends may be spotted by noting one or more of the following:
1. Type of product
4. FOOD AND BEVERAGE COST CONTROL – UPDATED (2ND SEMESTER,AY 2021 – 2022)
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2. Region of sales
3. Season of the year
4. Categories of customers (by gender, age, occupation) etc.
Computing Averages for Sales Histories
Knowing the average number of revenue dollars generatedin a time period, or the average number of guests
served in that period, may be a real benefit to you. An average is defined as the value arrived at by adding
the quantities in a series and dividing the sum of the quantities by the number of items in the series.
Sometimes, an average is referred to as the mean in a series of quantities. The two major types of averages
you are likely to encounter as a foodservice manager are as follows:
1.Fixed average -is an average in which you determine a specific time period, for example, the first 14 days
of a given month, and then you compute the average amount of sales or guest activity for that period. Note
that this average is called fixed.
2.Rolling average - is the average amount of sales or volume over a changing time period. Essentially,
where a fixed average is computed using a specific or constant set of data, the rolling average is computed
using data that will change regularly.
THOUGHTS TO REMEMBER:
An AVERAGE is a value computed by adding the quantities in a series and dividing the
sum of the quantities by the number ofitems in the series.
Sometimes,an average is referred to as the MEAN.
Fixed Average is an average for a specific (fixed) time period.
Rolling Average is the average amount ofsales or volume over a changing time period.
A fixed average is computed using a specific or constant set ofdata but a rolling average is
computed using data that will change.
Example of 14 – day Fixed Average:
Day of month Daily sales
1 P 350.00
2 320.00
3 390.00
4 440.00
5 420.00
6 458.00
7 450.00
8 460.00
9 410.00
5. FOOD AND BEVERAGE COST CONTROL – UPDATED (2ND SEMESTER,AY 2021 – 2022)
5
10 440.00
11 470.00
12 460.00
13 418.00
14 494.00
14-day total P 5980.00
=P5980 / 14
= P427.14 per day
Example of Rolling Average (14-day sales level)
Day Sales Day Sales
1 3500.00 8 4600.00
2 3200.00 9 4100.00
3 3900.00 10 4400.00
4 4400.00 11 4700.00
5 4200.00 12 4600.00
6 4580.00 13 4180.00
7 4500.00 14 4940.00
Seven – Day Rolling Average Example:
Seven Day Period
Day 1-7 2-8 3-9 4-10 5-11 6-12 7-13 8-14
1 3500 -
2 3200 3200
3 3900 3900 3900
4 4400 4400 4400 4400
5 4200 4200 4200 4200 4200
6 4580 4580 4580 4580 4580 4580
7 4500 4500 4500 4500 4500 4500 4500 4500
8 4600 4600 4600 4600 4600 4600 4600
9 4100 4100 4100 4100 4100 4100
10 4400 4400 4400 4400 4400
6. FOOD AND BEVERAGE COST CONTROL – UPDATED (2ND SEMESTER,AY 2021 – 2022)
6
11 4700 4700 4700 4700
12 4600 4600 4600
13 4180 4180
14 4940
Total 28280.00 29380.00 30280.00 30780.00 31080.00 31480.00 31080.00 31520.00
7 day
rolling
average
4040.00 4197.14 4325.71 4397.14 4440.00 4497.14 4440.00 4502.86
Recording Revenue, Guest Counts, or Both?
Some foodservice operations do not regularly record revenue as a measure of their sales activity. For them,
developing saleshistories by recording the number of individuals they serve eachdaymakes the most sense.
Thus, guest count, the term used in the hospitality industry to indicate the number of people served, is
recorded on a regular basis. For many other foodservice operations, sales are recorded in terms of sales
revenue generated. Not surprisingly, you may decide that your operation is best managed by tracking both
revenue and guest counts. In fact,if you do decide to record both revenue and guest counts, you have the
information you need to compute average sales per guest, a term commonly known as check average.
THOUGHTS TO REMEMBER:
GUEST COUNT, the term used in hospitality industry to indicate the number ofpeople a
served,recorded on a regular basis.
AVERAGE SALES PER GUEST, a term commonly known as CHECK AVERAGE.
● AVERAGE SALES per guest is determined by the following formula:
AVERAGE SALES PER GUEST = TOTAL SALES / NUMBER OF GUEST SERVED
Consider the information below, in which the manager has decided to monitor and record the following:
- Sales
- Guests served
- Average sales per guests
Sales period Date Sales Guest served Average sales per
guests
Monday 1/1 P1,365.00 190 P7.18
Tuesday 1/2 2750.00 314 8.76
Two-day average 2057.50 252 8.16
● Most POS systems report the amount of revenue you have generated in a selected time period, the
number of guests you have served, and the average sales per guests.
7. FOOD AND BEVERAGE COST CONTROL – UPDATED (2ND SEMESTER,AY 2021 – 2022)
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● The correct procedure for computing the two-day sale per guest average is as follows: Two Day
Average Sales per guest= Monday Sales + Tuesday Sales / Monday Guest Served + Tuesday
Guest Serve.
● The correct computation is a WEIGHTED AVERAGE, that is, an average that weights the
number of guests with how much they spend in each time period.
MAINTAINING SALES HISTORY
Sales history may consist of revenue, number of guests served,and average sales per guest, you may want
to use even more detailed information, such as the number of a particular menu item served,the number of
guests served in a specific meal or time period, or the method of meal delivery (e.g., drive-through vs.
counter sales). The important concept to remember is that you have the power to determine the information
that best suits your operation. That information should be updated at least daily, and a cumulative total for
the appropriate time period should also be maintained. In most cases,your sales histories should be kept
for a period of at least two years. This allows you to have a good sense of what has happened to your
business in the recent past. Of course, if you are the manager of a new operation, or one that has recently
undergone a major concept change, you may not have the advantage of reviewing meaningful sales
histories. If you find yourself in such a situation, it is imperative that you begin to build and maintain your
sales histories as soon as possible so you will have good sales information on which to base your future
managerial decisions.
Example Figure:
Sales Period Date Sales Guest Served Average Salesper
guest
Monday 1/1 P1365.00 190 P7.18
Tuesday 1/2 2750.00 314 8.76
Two-day average 2057.50 252 8.16
Average Sales / Guest = Total Sales / Number of Guest Served
January 1: 1365.00/190 =P7.18
January 2: P 2750.00/314 = P8.76
To compute the two – day revenue average (Monday + Tuesday )/ 2, yielding a two – day revenue
average of P 2057.50.
In fact,the two – day average sales per guest is P 8.16 (P1365.00+2750.00 )/(190+314)= 4115/504
= P 8.16
The correct procedure for computing the two – day sales per guest average is as follows: Two –
Day Average Sales per guest = Monday Sales +Tuesday Sales
Monday Guests + Tuesday Guests
TOPIC 3
8. FOOD AND BEVERAGE COST CONTROL – UPDATED (2ND SEMESTER,AY 2021 – 2022)
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The correctcomputation is a weighted average,that is, an average that weights the number of guests
with how much they spend in each time period.
Day 1 Sales + Day 2 Sales
Day 1 Guests + Day 2 Guests
SALES VARIANCE
Once an accurate sales history system has been established, you may begin to see that your operation, if it
is like most, will experience some level of salesvariation. These salesvariances,or changesfrom previously
experienced sales levels, will give you an indication of whether your sales are improving, declining, or
staying the same. Because that information is so important to predicting future sales levels, many
foodservice managers improve their sales history information by including sales variance as an additional
component of the history
QUICK WOK
MONTH SALES THIS YEAR SALES LAST YEAR VARIANCE
January $ 54,000 $ 51,200 $ 2,800
February 57,500 50,750 6,750
March 61,000 57,500 3,700
First Qtr. Total $ 172,700 $ 159,450 $ 13,250
The variance is determined by subtracting sales last year from sales this year
Sales This Year – Sales Last Year = Variance
Percentage variance indicates the percentage change in sales from one time period to the next.
The percentage variance is determined as follows:
= Sales This Year – Sales Last Year
Sales Last Year
An alternative, and shorter, formula for computing the percentage variance is as follows:
= Variance
Sales Last Year
Another way to compute the percentage variance is to use a math shortcut, as follows:
= Sales This Year
Sales Last Year - 1
SALES HISTORY, VARIANCE, AND PERCENTAGE VARIANCE
QUICK WOK
MONTH SALES THIS
YEAR
SALES LAST
YEAR
VARIANCE %
VARIANCE
January $ 54,000 $ 51,200 $ 2,800 5.46%
TOPIC 4
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9
February 57,500 50,750 6,750 13.30%
March 61,000 57,500 3,700 6.43%
First Qtr. Total $ 172,700 $ 159,450 $ 13,250 8.30%
THOUGHTS TO PONDER:
o Effective managers are interested in the percentage variance, or percentage change, in their sales from
one time period to the next.
o Note that the resulting decimal-form percentage can be converted to the more frequently used common
form.
o the computation of percentage variance is invaluable when you want to compare the operating results of
two foodservice operations of different sizes.
PREDICTING FUTURE SALES
It has been pointed out that truly outstanding managers have an ability to see the future regarding the
revenue figures they can achieve and the number of guests they expect to serve. You, too, can learn to do
this when you apply the knowledge of percentage variances you now must estimating your own operation’s
future sales. Depending on the type of facility you manage, you may be interested in predicting, or
forecasting, future revenues,guest counts, or average sales per guest levels. We examine the procedures for
all three of these in detail.
Future Revenues
Revenue forecastfor this time period is determined by multiplying saleslast yearby the % increase estimate
and then adding sales last year. Revenue forecast is calculated using the following formula:
Revenue Forecast = Sales Last Year+(Sales Last Year* Increase estimate)
An alternative way to compute the revenue forecast is to use a math shortcut, as follows:
Revenue Forecast = Sales Last Year+1* % increase estimate)
Future Guest Counts
TOPIC 5
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The guest count forecast is determined by multiplying guest count last year by the % increase estimate and
then adding the guest count last year. Guest count forecast is calculated using the following formula:
Guest Count Forecast = Guest Count Last Year x % increase estimate
This process can be simplified if desired by using a math shortcut, as follows:
Guest Count Forecast = Guest Count Last Year +(1.00 x % increase Estimate)
Note to yourself: You should choose the formula with which you feel most comfortable.
Future Average Sales per Guest:
Recall that average sales per guest (check average) is simply the amount of money an average guest spends
during a visit. The same formula is used to forecast average sales per guest as was used in forecasting total
revenue and guest counts. Therefore, using data taken from the sales history, the following formula is
employed:
Last Year’s Average Sales per Guest + Estimated Increase in Sales per Guest = Sales per Guest Forecast
Average sales per guest forecast is obtained by dividing the revenue forecast by the guest count forecast.
The average sales per guest forecast is determined by the following formula:
𝑹𝒆𝒗𝒆𝒏𝒖𝒆 𝑭𝒐𝒓𝒆𝒄𝒂𝒔𝒕 = 𝑨𝒗𝒆𝒓𝒂𝒈𝒆 𝒔𝒂𝒍𝒆𝒔 𝒑𝒆𝒓 𝒈𝒖𝒆𝒔𝒕 𝒇𝒐𝒓𝒆𝒄𝒂𝒔𝒕
𝑮𝒖𝒆𝒔𝒕 𝑪𝒐𝒖𝒏𝒕 𝑭𝒐𝒓𝒆𝒄𝒂𝒔𝒕
The following are terms and concepts discussed in the chapter that are important for you as a manager. To
help you review, please define the terms below.
1. Sales forecast
2. Rolling average
3. Point of sales (POS) system
4. Guest count
5. Sales volume Average
6. Sales per guest (check average)
TEACHING AND
LEARNING ACTIVITIES
11. FOOD AND BEVERAGE COST CONTROL – UPDATED (2ND SEMESTER,AY 2021 – 2022)
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7. Sales history
8. Weighted average
9. Sales to date
10. Sales variance
11. Average (mean)
12. Percentage variance
13. Fixed average