Restaurant Management: Costs, Pricing, and Organizational Structure
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Restaurant Business Fundamentals: Definitions
The term restaurant means any establishment that offers customers food and beverage services.
The Service Offer
The Offer must align with customer expectations to achieve satisfaction.
It is important to determine the offer by analyzing its interaction with other core business activities, including:
- Production system
- Work equipment
- Service system
- Buying (Procurement)
- Storage of raw materials
- Financial management
Key Financial Concepts
Cost Definition
Cost refers to the assessment of resources (carried out or planned) used through the application of factors necessary to obtain the product or service.
Fixed Cost
A Fixed Cost is independent of changes in production volume over time (it remains constant).