The Menu Item Analysis Report is most beneficial in analyzing a Marketing Strategy for a Location's menu items to help turn a higher profit. It shows the margin and quantities of menu items ranked against each other and returns a category that has a call to action associated with it.
There are four categories that can guide the user on how to maximize their menu items for profit: Star (promote the items more/continue with current promotions), Opportunity (move up the physical menu or promote more), Puzzle (raise the price or move lower down the physical menu so it's chosen less frequently), and Dog (consider removing from the menu next quarter).
Users who have access to this report can send, export, or print this report directly from the reporting window. Click here to learn how to send, export, or print this report.
Navigation
To navigate to the Menu Item Analysis Report, click 'My Reports' under 'Reports' in the left navigation panel and then select 'Sales' in the top header of the reporting window. Once opened, a listing of reports will be shown.
Find 'Menu Item Analysis' and select 'Customize' next to the report. This will open up a listing of all Report Parameters that can be used to define your report.
Report Parameters
1) Filter By - A listing of all Location categories
2) Filter - A listing of all Locations from the selected Location category
3) Start Date - The beginning date for the report
4) End Date - The ending date for the report
5) Menu Categories - A listing of all Menu Categories that can filter the report results. Click here for more information on Menu Categories
6) Cost Method - This option allows a User to use the actual or estimated cost when running the report
7) Subtotal By - Sort and subtotal by those categories. Categories 1+2 is recommended
8) Show Priority - This will either show or hide the Weighted Cost, which is the sum of the cost of all menu items sold + all menu items marked as waste on Waste Logs
9) Initial View - This option will show either a detailed or summarized initial view of the report
10) Show Zero Sales - This will either show or hide menu items whose total sales are zero for the set report filters
11) Show Chart - This will either show or hide the Chart that plots the Menu Item data. Selecting 'Yes' provides a clear visualization of the impact of each Menu Item in comparison to others
12) Run Button - Runs the report. Users can also send, export, or print the report directly from this button by clicking the down arrow portion and selecting the desired action. Click here to learn more about this functionality
Click here to learn more about Report Views and their added functionality.
Report Columns
1) Item - A listing of all items organized by Location and ranked by Sales
2) Price - The average selling price of each menu item as pulled from the POS
3) Cost - The cost of each menu item from its linked Recipe in R365
4) Margin - The difference between the Price and the Cost
5) Cost % - The Cost of the menu item divided by its Price
6) Qty - The amount of the item sold
7) Sales - The Gross Sales made
8) Sales % - The Sales percentage of the item compared to overall Sales
9) Priority - The Weighted Cost, which is the sum of the cost of all menu items sold + all menu items entered on the Waste Log
10) Theoretical Cost - The Theoretical Cost based on the cost of each menu item multiplied by the quantity sold
11) Profit - The difference between the the Sales and the Theoretical Cost
12) Category - A ranking system for each item, comparing them to all listed menu items for the selected locations, to decide which items should be promoted more or removed. These categories include: Star (promote the items more/continue with current promotions), Opportunity (move up the physical menu or promote more), Puzzle (raise the price or move lower down the physical menu so it's chosen less frequently), and Dog (consider removing from the menu next quarter). Each Category is calculated as follows:
- Star - If the Sales value is greater than or equal to the average Sales of all listed menu items, and the Margin value is greater than or equal to the average Margin of all listed menu items, then it is a Star.
- Opportunity - If the Sales value is greater than or equal to the average Sales of all listed menu items, and the Margin value is less than the average Margin of all listed menu items, then it is an Opportunity.
- Puzzle - If the Sales value is less than the average Sales of all listed menu items, and the Margin value is greater than or equal to the average Margin of all listed menu items, then it is a Puzzle.
- Dog - If the Sales value is less than the average Sales of all listed menu items, and the Margin value is less than the average Margin of all listed menu items, then it is a Dog.
Email, Export, or Print the Report
This report can be emailed, exported, or printed in custom formatting directly from the reporting window. Click here to learn how to send, export, or print this report.