How do you calculate it? (Provide the basic formula).

What is the purpose of a Profit and Loss (P&L) statement?

What three key components are always found on a P&L statement?

What is the food cost percentage? Why is it one of the most important metrics for a food service manager to track?

Provide the formula for calculating food cost percentage.

Explain the concept of menu pricing. Why is it more complex than just adding a fixed markup to the cost of ingredients?

List at least two factors, other than ingredient cost, that you would consider when setting the price of an item on your menu.

What is the primary purpose of creating a budget for a food service business?

Why is it important to track both fixed costs (e.g., rent) and variable costs (e.g., ingredients) when creating a budget?

Calculate COGS: What is "Sweet Delights'" Cost of Goods Sold for June? Show your work.

Calculate Food Cost Percentage: What is their food cost percentage for June? Show your work. Is this a good percentage for a bakery? Why or why not?

What is the difference between a controllable cost and a non-controllable cost in a food service operation?

Give one specific example of how a manager could reduce a controllable cost.

What is cash flow?

Why is it possible for a profitable restaurant to still have a negative cash flow?

What is customer service in the context of a restaurant or cafe? Why is it more than just serving food?

List three ways a food service establishment can make a positive first impression on a customer.

A customer complains that their order is wrong. What is the most important thing for the server to do first?

What are two key steps in resolving a customer complaint to ensure they leave happy and might return?

Why is it beneficial for a food service business to build a relationship with its regular customers?

What is marketing in the food service industry? What is its primary goal?

What is a restaurant's brand identity? List three elements that contribute to a restaurant's brand identity (e.g., logo, menu, atmosphere).

Who is a target audience? Why is it important for a food service business to identify its target audience before creating a marketing plan?

List two examples of digital marketing strategies a small cafe could use to attract new customers.

Describe how each stage of this journey-Awareness, Consideration, Purchase, and Loyalty-is influenced by either customer service or marketing.

What do you believe is more important for the long-term success of a food service business: outstanding food or outstanding customer service? Justify your answer.

How can a food service business use marketing to turn a one-time customer into a loyal, repeat customer?