Costing model for packaging in hospitality?
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There can be n no of solution for packaging a hospitality industry .It is you who has to decide on which will work . It can be as follows:\nWeather you want to target people who wants a total service experience.\nTargeting cost effetive solutions.\n\nAccording to me the best model will consists of following:\nBest design/experience\nLow cost \nRepeatability and reliability of services.
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You should hire a construction consultant, general contractor, someone who has done bars/restaurants before.  It always costs more than you planned.  Be prepared!
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Enjoy\n\nhttp://en.wikipedia.org/wiki/Fair_Packaging_and_Labeling_Act
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That's quite an interesting question :) I am not an accounting professional, but me being a business enthusiast, one of the first questions that I explored was this. That must have been way sometime back! So let me see if I can explaint this atall. Providing benefit of doubt, I may be wrong too! :)\n\nImagine Advertising to be a Subset of Marketing. You can probably call it an aid to your Marketing plan. So when calculating expenses, as part of your Marketing expenses, you may consider your advertising expenses like a TV Commercial cost or a banner ad cost. But as far as your Marketing expenses are concerned you may still have other items like say you may have taken some help in professional marketing plan preparation or you may have arranged for a conference where all buyers/sellers meet and things like that.\n\nHave I confused  you? ;-)
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Pricing:\nYou need to figure out what your break-even revenues are i.e. how many drinks should you sell to cover all your expenses. \nFrom the break even revenues then, figure out how many units you need to move i.e. how many of X units do I have to sell to make the break even revenues of $Y dollars. \n\nThe break even price per unit you come up with will be the bottom end of your pricing strategy. Then do a little leg work and see what your local competitors are selling per unti and under cut them. \n\nYou will then be able advertise your grand open as having the cheapest drinks within a xx mile radius. That should draw a lot of people to the opening and hopefully you can make up on volume moved.\n\nIf you use break even, you will be able to hold that low price for longer provided your costs don't change significantly. As they change, then increase price either to another promotional pricing based on the same reasoning or to match competition or to the recommended retail price.\n\nEmployees:\nYou should pay at/above minimum wage for servers. A manager will be apid as negotiated btw the 2 of you. If this is your first restaurant business, you can work with a manager to help you understand the business esp. if you have no prior industry experience.
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"This tutorial introduces economics concepts of total cost, fixed cost, variable cost, and marginal cost. \nFirms use these cost concepts for pricing and output decisions. These concepts form the basis for much of cost accounting."\n\n"Welcome to MiddleCity - Online Accounting Tutorial"
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It is my understanding that you would multiply the given costs by the surface area of those pieces to get total cost (C). Your equation would be as follows:\n2[(πr^2)(.027)] x πrh(.015)=C\nThe constraint equation is the volume:\n(πhr^2) = 16\nsolve your constraint equation for one of the variables.\nThen take the derivative of the cost equation and solve for your variable at "0." This will give you r (where r is radius) or h (where h is height of can) depending on what you solved for.
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That would depend on a lot of different things... simply put the amount sold would have to cover the amount spent.\n\nThis would have to include all expenses related to what is being sold...\nincluding... cost of product, advertising, distribution, research, sales force, any and all overhead. (building, taxes, electric, heating, phones, payroll, insurance, legal fees,) the list can go on and on.
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What Guests Really Want\nWhy Good Service is So Important\nHow Much Does Price Matter\nDaily Cost Cutting Practices\nHow to Retain Good Workers in Hotel/Restaurant Business
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Companies spend millions in packaging, indeed. You should use bold and fancy colors, mention the great advantages of the appliance and generally include much information about the product (the desirable features). Photo of the appliance is a must. Don’t forget to use modern packaging as it has a positive impact in the positioning. Bear in mind that although appliances’ packaging cannot be such a great source of differentiation (such as for consumable products) it may play an important role in the product’s success.\nI can give you two tips: Firstly you should do benchmarking and secondly get professional advice from a relevant consultant.
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Research the cost of the following things:\n1. Facility (including insurance, hydro etc)\n2. Equipment\n3. Personnel\n4. Advertising (very expensive at the beginning)\n\nI can't think of any others right now.
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Five steps to business cost reduction \nBanish office supply anarchy: Avoid buying only name-brand items in small quantities. Shop for bargains online. Superstores like Office Depot, Staples and Office Max offer “store brands” at reduced prices. And when you establish an online account, they’ll often send coupons worth $10 or $20 off orders of $100 or more. \nFoil photocopying follies: Don’t photocopy high-volume items that you can print for less. Copies typically cost five to fifteen cents each, even if you do them yourself, including paper, toner, labor and maintenance. Printing can lower costs to three cents or less. Biggest cost culprits are forms, flyers and form letters that you think you use in small quantities. But if you photocopy a few dozen per week, that can be thousands per year and you could save by having it printed. One great online source for printing is PrintingForLess.com. \nBe an inventory maniac: Think of your inventory - raw materials as well as finished goods - as company cash sitting on a shelf or in a warehouse doing nothing. Costs include storage, insurance and taxes, among others. Keep good records and regularly root out dead items. \nKick the overnight habit: Express shipments for next morning delivery are costly. Consider next afternoon or maybe two- or three-day service. \nReview everything annually: Review vendor relationships at least annually for internet services, phone, wireless, DSL, shipping, legal, printing and other day-to-day expenses. Prices and package deals change, and you may be overpaying.
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Mike's Bakery makes brownies that cost $.80 each. \n\n15 percent of the brownies will spoil and thus are not salable. \n\nMike wants a 35 percent markup based on cost. Mike produces 500 brownies. Each brownie should sell for??? \n\n-----------------------------------------\n\nWe know the cost of the brownies which is .80 cents each.\n\nWe know the amount of the brownies, which is 500.\n\nWe know that 15% will spoil, and cannot be sold.\n\n15% of 500 is 75 brownies.  This means that only 425 brownies can be sold.\n\nThe true cost of the brownies is 500 brownies * .80 cents = 400 dollars\n\nIf we need to make a 35% markup BASED ON ACTUAL MANUFACTURING COST (not on the amount we can sell). That means we need to make $140 dollars profit (35% of $400 = $140)\n\nWe know that we will be able to only sell 425 brownies\n\nTotal amount of money that we need to make then is $540.  It takes $400 (to cover manufacturing costs) + $140 (profit) = $540\n\nSo we take the gross needed to be made ($540) and divide that by the amount of brownies that we can sell (425)\n\nWhich then gives us how much we need to charge for each brownie, which works out to be approximately $1.27 if rounded lower.  However we need to make sure we have at least a 35% markup, so we automatically round up to $1.28.
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Get a presentation board, a tri fold one if you can find it.  Print or get pictures from magazines of different travel destinations, either in the US or International, and put a little catch phrase under each one, with a made up package price that includes travel and hotel stay.  \n\nSay for example you pic Naples Florida as a destination, print a picture off this site http://www.visitflorida.com/destinations/area.php/ca=64 , and then provide hotel info off of http://www.visitflorida.com/destinations/accommodations.php/ca=64 , then come up with a total package deal offering a weekend trip and a week trip price.  It would be a good idea to have at least 3 or 4 destination choices.\n\nAlso, make your own brochures in Word, or you can do business cards.  \n\nGood luck
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ask them at http://packing.org
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try this site\n\nhttp://www.futureaccountant.com/process-costing/
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Something to do with COSTING. Try this,