Data Analysis - MS Excel
That sounds like an interesting ! Menu engineering is a valuable process for analyzing the profitability & popularity of menu items. While I cannot directly provide you with an Excel file, I can certainly help guide you through the process and provide insights on menu engineering. To get started, I will need data of your food items, being sold in your restaurant/outlet which includes costs, selling prices, and sales data. How I will do Menu Engineering :-
Will create a new Excel spreadsheet and set up the following columns: Item Name, Cost, Selling Price (per item) and Sales Data (e. g. , total number of each food items sold during the period for which menu engineering is required).
Calculate the Contribution Margin for each item. Contribution Margin is the difference between the Selling Price and the Cost per Portion. Use the formula: Contribution Margin = Selling Price - Cost per Portion.
Calculate the Total Contribution for each item by multiplying the Contribution Margin by the Sales Data. Use the formula: Total Contribution = Contribution Margin
Will calculate Quadrant Placement of each items (Plow Horse / Star / Dog /Puzzle) by applying proper formula.
List of Menu Items with Food Cost, Selling Price, Total No. of each item sold during the period for which menu engineering is required.
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