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CANOPY METRICS

CANOPY METRICSCANOPY METRICSCANOPY METRICS

Data-Driven Consulting Agency

Data-Driven Consulting AgencyData-Driven Consulting Agency

Food Service Metrics

Canopy Metrics specializes in data management and analysis within the hospitality sector. We can help your team build an effective performance measurement plan to drive additional profit to your bottom line.

Below are examples of reports and metrics that we use regularly.

Executive Reports

Executive Scorecard

We can build a customized executive scorecard that will help your executive team see how the business is operating compared to budget and forecast. The scorecard houses all of the top-line metrics that can help show where to focus your limited resources.

Dynamic Income Statement

Income Statements are complicated and it can be hard to analyze them effectively. We have experience creating dynamic income statements that link directly to your accounting software so that there is no need for manual data transfer and income statement creation. We customize the dynamic income statement for the executive team so insights can be extracted easily. 

Menu Matrix

Despite having millions of data points to reference, menu decisions are often made based on intuition. We create custom menu matrices that help you quickly see your menu item's price, cost, contribution, and sales by region. These matrices can be used to quickly see contribution by menu category and by region. This is a must-have tool for any multiunit food service business.

Impact Analysis

Food cost and minimum wage increases have a massive impact on a restaurant's bottom line. It is hard to know if prices should be increased and by how much. We can create custom impact analysis based on the scenarios that you and your team have compiled. As an example, when minimum wage goes up and you want to save your margin, we can show you how much labour needs to be reduced or pricing needs to be increased in order to achieve the same profit margin.

OperationS Metrics

Labour Productivity

Labour Productivity

Labour Productivity

Labour cost %

Sales per labour hour

Covers per labour hour

OT vs regular hours

Service vs support labour

Cost-of-Sales

Labour Productivity

Labour Productivity

Food cost variance

Contribution by item

Yields

Recipe creation and alignment

Average Check

Labour Productivity

Server Productivity

Upsell %

Adds/sides/subs %

Food/alc bev ratio

Server Productivity

Secret Shopper Reports

Server Productivity

Sales per table

Table duration

Food/alc bev ratio by server

Inventory Pars

Secret Shopper Reports

Secret Shopper Reports

Itemized sales forecast

Pars based on forecast

Par buffers

Case vs broken case

Secret Shopper Reports

Secret Shopper Reports

Secret Shopper Reports

Report development

Weighting by category

Marketing Reports

Cover and Sales Trends

There are several ways of displaying cover and sales trends including by day of the week and hour of the day. Displaying these trends in a heat map allows marketing to quickly see where to focus their attention.

Social Media

Social media marketing can be a black hole if the message is not curated and targeted correctly. We have worked with several marketing teams to help develop social media campaigns based on organizational objectives and current trends. It's not always about blasting your brand across the internet; specific, targeted campaigns with strong call-to-action will provide much more ROI.

Competitive Pricing Analysis

We help you analyze where your prices sit in comparison to your competitors. There are several new tools available that can help with this process so that you and your team can refrain from spending hours and thousands of dollars visiting competitive locations. We provide a comprehensive report that shows exactly how your menu items compare to your competitors by region.

Promotion Evaluations

One of the most important steps in any promotional initiative is to evaluate the promotion's effectiveness. Our team can help establish the success criteria to ensure that your promotions are focused on the right objective. We can then evaluate the effectiveness of the campaign based on the success criteria to show what went right or wrong and why.

Purchasing Metrics

Vendor Management

Vendor Management

Vendor Management

Fee per Case analysis

Rebate management

Product availability/sub frequency


Contract Analysis

Vendor Management

Vendor Management

Market vs contract impact analysis

Seasonality of pricing

Recipe suggestions based on contract pricing

Rebate vs discount analysis

Basket of Goods / CPI

Basket of Goods / CPI

Basket of Goods / CPI

Cost indexes by category

Comparison to national CPI

Seasonality

Basket of Goods / CPI

Basket of Goods / CPI

- Avoid cauliflower dishes in February -

Seasonality by item

Seasonal menu item and recipe recommendations

Accounting Reports

Forecasting

If your forecasts were 100% correct, you would be the most profitable restaurant in the world.  Restaurants are variable businesses so if you could predict how many people will come into the restaurant and how much they will spend, you could perfectly match your labour and cost-of-sales to their budgeted percentages.

While a completely accurate forecast is nearly unachievable, we have proven techniques to get you very close. Most restaurants have a fairly predictable sales cycle so we will help you map out the forecast variables and build a forecast model to assist in revenue, cover and average check predictions.

Budgets

Creating annual budgets is tough, especially considering all of the variables that impact a restaurant's income statement throughout the year. We have helped many accountants develop budgets for each GL on their income statement. We also help establish a budget review plan to realign budgets to results once per quarter. 

Proper budget management can help keep your team engaged and excited. Unrealistic budgets can kill morale and have a negative impact on retention.

Income Statement Analysis

There are a lot of ways to analyze an income statement.  Luckily, we have extensive experience analyzing restaurant-specific profit elements. As an example, we have helped several clients reallocate their labour costs to specific accounts related to either direct labour or indirect components (employee tax, bonuses etc.). This has helped managers understand which component of labour is affecting their labour cost percentage. 

Manager Controllable Cost Analysis

This section of the income statement can have some of the lowest hanging fruit. There are many GLs that are often ignored due to their relatively small impact to profit. When aggregated together, some of the accounts can shift your profit margin substantially. We help businesses determine which accounts should be variable to sales and which accounts should move to a fixed budget methodology (janitorial, office expenses etc.).

Software and Applications

The following section shows all of the software that we have interacted with. We have met with the technical representatives at each of these organizations and understand how best to extract and load information into your reports.

It is important to mention that the hospitality business is complicated but the types of data being stored is not. Most systems, whether it's for point-of-sale, inventory management, payroll or accounting, use the same methodology for capturing, storing and reporting data. 

We are confident that we can help you achieve your goals no matter what software you are using.

Let's get started!

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