The power of 1% 21st December 2015
How a 1% can make you $1,000's more.
Whether you like it or not, You are in the business of percentages. Play them right and you can completely turn around your venue. Let's take a look using a mid sized suburban hotel turning over $30,000 per
week as an example. Say he makes the following changes by 1% and see the end result.
Increases Turnover by 1% - $300 per week
Decreases COGS by 1% - $105 per week (Assuming 35% COGS)
Decreases Wages by 1% - $84 per week (Assuming wage cost of 28%)
Increase Prices by 1% - $303 per week (After increased turnover)
Decrease entertainment expenses by 1% -