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To consolidate profit and loss statements from Region 5 (Illinois and Iowa) Tibetan Grill franchises into a single summary report and to compare each store’s profit and loss statement against industry benchmarks.
Terms Related with Tibetan Grill Assignment Help
|Total Sales||Total Sales measures the income from the sale of food and beverage menu items at the franchise.|
|Cost of Goods Sold (COGS)||Cost of Goods Sold measures the raw material cost for food and beverage; increasing as sales volume increases.|
|Payroll Costs||Payroll Costs measures the cost of salaries, wages, employee benefits, and payroll taxes.|
|Prime Costs||Prime Costs measures the sum of COGS and Payroll Costs and is considered the largest area of expenditure for the franchise with typically about 2/3rds of expenses coming from Prime Costs.|
|Operating Costs||Operating Costs measures the expenses required for franchise operation not directly related to COGS and Payroll Costs.|
|Controllable Profit||Controllable Profit is profit considering only those expense factors under the franchise’s direct control (Prime Costs and Operating Costs).|
|Occupancy Costs||Occupancy Costs are expenses directly related to occupancy of the franchise space, including rent, property taxes, and insurance.|
|Interest||Interest measures the amount paid in interest of loans to fund the purchase and operation of the franchise; it does not include payments made to pay off the principal of any loan.|
|Depreciation||Depreciation measures the amount by which the franchise’s material assets (cooking equipment, seating space, infrastructure) decline in value.|
|Pretax Profit||Pretax Profit is the restaurant profit, calculated by subtracting Prime Costs, Operating Expenses, Occupancy Costs, Interest, and Depreciation from Total Sales. Successfully-run franchises should show a Pretax Profit of at least 4% of their Total Sales.|
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