Understanding the market and develop plans for your restaurants is smart strategy and this is now possible with restaurant competitive analysis template excel. What is competitive analysis and why to carry it out?
Competitive analysis enables key organizers to create grids for spotting strengths and opportunities for the business in the market. Competitive analysis can be further described as key contenders in the market who are sharing your business profit and clients!
- Check cash memo format for hotel management
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Restaurant Analysis Excel Spreadsheet
With contender analysis excel spreadsheet, you may uncover, for instance, that most rivals in the neighborhood and premium costs for higher quality items, which can be enjoyed by you as well by providing your target audience the better services than your competitors.
Geographic market maps can be useful when searching for advertising opportunities for organizations like retail locations or other physical foundations which are better for the company than the competitors.
Do you know there are different kinds of competitors like season competitors, external competitors, and direct competitors?
Format of Restaurant Competitive Analysis Template Excel
Target the best audience among all using this ready-to-go template. Now you can see the design and what this template holds here by reading down without downloading it:
Restaurant competitive index model
To make the correct competitive analysis using restaurant competitive analysis template, you must have all of your company information ahead of you before comparing it to others.
- Start working on this template by filling up your company information.
- This section comprises of company name and my company Inc.
- Once you have input the company name in cell D6 start filling the competitive factors starting from cell D8.
- Sample factors can be price, quality, customer service, product range, distribution outlets, other 1 and other 2.
- Fill the weighting for all of the competitive factors in column E.
- Start from the cell E9 and ending up in E15.
Total is shown in cell E15 with formula, =SUM(E9: E15)
Now enter all of your top competitors in column D under competitor’s headings starting from the call D22-D26
In this part of template you can work smartly by inputting the weighting for all of your sample competitors and for the competitive factors.
- Fill them accordingly in the column, E, F, G, H, I and J.
- The score for the competitor 1 is shown in cell M22 with formula, =SUM(E22:K22)
- Sample competitor 2 total scores is shown in cell M23 with formula =SUM(E23:K23) and so on!
** don’t try to edit the red cells as this is not the good practice.
Weighted rating of competitors
Fill up your competitors in the column D starting from the cell D30. You may carry them from above!
- Now add the weighted rating for all of your competitors and the competitive components in the column, E, F, G, H, I, J and K.
- Total score for competitor 1 is shown in cell M31 with the formula =SUM(E31:K31)
- For total of other competitors check out cell M32, M33 and M34.
Restaurant Dashboard Template
Complete dashboard statistics with loss and revenue and monthly income and balance sheet overview. Dashboard template is quite expensive and only can create on customer demand or according to their requirement. It’s some sort of software or VBA base advance excel software, which you can use to generate an invoice for customer and keep the record.
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Restaurant Loss and Profit Statement
Single restaurant loss and profit statement monthly base, printable for tax department and recordkeeping data. This is available in PDF and word for easy customization.
- Restaurant P&I Percentage
- Food Stock profit and Loss account
- Food and Beverages stock Management
Restaurant Income Statement Template
Restaurant income sheet statement relates to income tax department, which all details like profit and loss. This sheet creates the monthly basis and final annual reporting. Using this sheet you can notify with other general ledger statement and balance sheet data.
So overall Restaurant Competitive Analysis Template Excel includes these all template for generating entire phase of reporting. Although mostly restaurant base business would like to design open source web base program for managing multiple chains of restaurant. Template is the only solution if you run small type of restaurant and doesn’t need to file an income tax report.