Home › Forums › Restaurant Professionals Forum › Professional Hot Dog Vendors › Hi all! Still don’t know whether I’m coming or going!!! › Re:Hi all! Still don’t know whether I’m coming or going!!!
Quickdog and localnet gave very good advice and should help you organize for more efficiency. The thing that bothers me is your lack of bookkeeping. First of all you should know the exact cost of each item on your menu. The cost of the bun and dog for instance is easy to figure. You then have to add anthing you need to serve that item. For me it’s a wrap, gloves and condiments. Condiments can vary in your area, but I figure .11 cents covers these items in mine.
Second-You have to know how you’re doing financially. Take all your fixed expenses (costs that occur whether you sell 1 item or 300 items) and divide that by how many days a month you are open. Then each day you can determine your profit/loss. For instance this is my books for a $200 day;
Sales -Sales Tax =Total Sales-Cost(30%)-Fixed Exp= Profit
200 13.09 186.91 60 20 106.91
Don’t know if you have sales tax but mine is 7% and it has to be paid out of my daily sales. My fixed expenses are pretty low and are based on a 20 day month.
Make a chart like this and keep it EVERY day. I know you are probably tired each day, but you have NO chance if you don’t know your exact cost of each item you sell and you don’t keep proper books for income purposes. So get your butt in gear and put a pencil to it. I’ve done some business consulting and have found one problem a small business person has. Sometimes they are so busy running their business, they don’t have time to run their business!
Good luck and hang in there.