In recent weeks, we have mentioned how some of our popular reports can give a detailed analysis of an individual venue’s performance. Today, I’m going to focus on some of the unsung heroes of Kobas and how they can be used to compare efficiency within a group of venues, across three key metrics: Sales, Labour, and Stock Control.
One of the main benefits of cloud based storage is that all of your historical data is instantly accessible and comparable to today’s data. The Week-on-Week report allows you to compare the net sales of up to 6 venues, broken down by the day of the week, presented as a table that includes each day’s net take, as well as showing your per venue and group averages. Secondly, the data in this table is then plotted on a chart to show your sales movement over time.
The Year-on-Year report directly compares a specific date’s sales against the corresponding date in the previous year. We use ISO Weeks to ensure that dates match up with the matching day of the week, i.e. Thursday 21st July 2016 matches with Thursday 23rd July 2015:
A dip in sales isn’t the end of the world, but it is important to be able ascertain whether a blip is a blip, or an indication of a trend. The examples above show that Monday’s sales have steadily decreased for the past 7 weeks and that Pub 1 is also down 13% on last year. Pub 2 has also had declining sales for the past 7 weeks, but is still beating last year’s takings.
Being able to directly compare your venues against each other and themselves, historically, is one of Kobas’ key strengths. Having these figures at your fingertips keeps you on the pulse of your business at all times.
Sales Day of Week
Of course, Monday is just one day, and for many businesses in the hospitality industry, it can be one of the quietest. To get a sense of when your venues are performing at their peak, it’s possible to cross reference these reports with the Sales Day of Week report.
This report breaks down your total net sales across a period, as well as also calculating the proportion that each day accounts for your total sales in the period. Joined together, these three reports can give a wide-ranging overall view of your sales, as well as a detailed analysis of progression over time.
The snapshot that this report gives you, in regard to proportion of sales, provides a clear indication of when and where your staff are needed; it can also give a good indication of when stock should be ordered and delivered, especially for venues that are looking to turnover large amounts of perishable stock, ensuring that the minimum amount is lost wastage, thus streamlining the stock control process.
Labour Costs Report
Without sales, your business won’t have income, but without controlling outgoings, your business won’t make profit. The Labour Costs report uses the Hours Worked report to calculate the total cost of your week’s staffing; the key figures for comparison between venues are Labour as a % of Sales and Revenue Per Labour Hour. These lines use hours worked to work out how much of your income is spent on wages, and how much income you are making per labour hour.
The best thing about these figures is that they allow you to compare smaller venues with larger venues, as they show the efficiency with which they are operating. The Rev Per Labour Hour figure is calculated by dividing your labour spend by the number of labour hours attributed to anything other than “Management” or “Head Office” roles. This gives you an idea of the amount of money that your business is making in relation to the number of labour hours on your rota. Ideally each of your venues would be aiming for a high figure; a venue with a large revenue but a low Rev Per Hour is not operating as efficiently as a venue with small revenue and a large Rev Per Hour figure.
If your stock is handled through Kobas, then you will know how easy it is to complete orders and transfers between venues. Again, the benefit here stems from the ability to instantly report on this stock movement.
90 Day Average Report
The 90 Day Average report is a tool that allows you to see exactly how much your individual stores are spending on particular ingredients, broken down by the number of deliveries in the period, the maximum order that was placed, and the average amount that was purchased each order.
By comparing multiple stores against each other, anomalies should very quickly become apparent; for businesses with lower margins, over-ordering can lead to excess wastage. This tool helps to hone the efficiency of each venues and ensure that the minimum of stock is lost to wastage.
That wraps it up for now, but if you are off for a well-deserved summer break, remember that you can check all of these reports from your phone, anywhere in the world!