822: Stephani Robson - Business planning workshop part 2 of 3 - Pro Forma

    With excitement, allow me to introduce to you today's guest: Emeritus Faculty of The Hotel School of Cornell University, Stephani Robson. Until her recent retirement, Dr. Stephani Robson was a member of the faculty at the Cornell University School of Hotel Administration for almost 30 years, where she taught literally thousands of students and executives about development and planning for hotels and restaurants. Prior to joining academia, she designed commercial kitchens for just about every kind of operation: restaurants, hotels, airports, hospitals, universities, and more. Check out episode 802: Ramp Up To Financial Sustainability with Ken Schwartz as mentioned in today's workshop. Show notes… Calls to ACTION!!! Join Restaurant Unstoppable Network and get your first 30 days on me!  Connect with my past guest and a community of superfans. Subscribe to the Restaurant Unstoppable YouTube Channel Join the private Unstoppable Facebook Group Join the email list! (Scroll Down to get the Vendor List!) Favorite success quote or mantra: “Know who you’re talking to and what they care about.” In today's episode with Stephani Robson we will discuss: Occupancy cost thumb rule: money you spend on real estate Rent Property tax CAM - common area maintenance NO MORE THAN 10% IN REVENUES What is your average check? Be specific How many covers/units of sales Don’t multiple by 52/every week is not equal Today's sponsor: At Popmenu, we know that in today’s world, a great hospitality experience usually begins online. Keeping the conversation with guests going beyond the meal also requires simple, powerful, fun technology capable of expression through all kinds of channels. Our team takes pride in helping restaurants put their best foot forward digitally so they can focus on what they do best. We think PDF menus are super boring, we believe 3rd party platforms have had too much say in how consumers find their next dining experience and we deeply feel that sharing your beautiful menu doesn’t have to be so difficult, time-consuming and expensive. As a listener of the Restaurant Unstoppable, you'll receive $100 off your first month of Popmenu! 7shifts is a modern labor management platform, designed by restaurateurs, for restaurateurs. Effectively labor management is more important than ever to ensure profitability and restaurant success. Trusted by over 400,000 restaurant professionals, 7shifts gives you the tools you need to streamline labor operations, communicate with your team, and retain your talent. Best of all 7shifts integrates with the POS and Payroll systems you already use and trust (like Toast!) turning labor into a competitive advantage for your business. Restaurant Unstoppable members get 3 months, absolutely free. PlateIQ- the leading AP automation platform in the hospitality industry. Since 2014, Plate IQ has been saving time and money for companies like Cava, Tender Greens, and more. Just upload your invoices into Plate IQ and our proprietary technology will code each line item to your chart of accounts — automatically. For Bill Pay, virtual cards, and end-to-end invoice automation, head to plateiq.com.   Contact info: Email: skr4@cornell.edu Thanks for listening! Thanks so much for joining today! Have some feedback you’d like to share? Leave a note in the comment section below! If you enjoyed this episode, please share it using the social media buttons you see at the top of the post. Also, please leave an honest review for the Restaurant Unstoppable Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and I read each and every one of them. And finally, don’t forget to subscribe to the show on iTunes to get automatic updates. Huge thanks to Stephani Robson for joining me for another awesome episode. Until next time!   Restaurant Unstoppable is a free podcast. One of the ways I'm able to make it free is by earning a commission when sharing certain products with you. I've made it a core value to only share tools, resources, and services my guest mentors have recommend, first. If you're finding value in my podcast, please use my links!