Getting into a new business is challenging, especially in the competitive food industry. But knowing these business terms can help. Here's a basic list of words to keep in mind as you start and go on to run your food business.
This can be used as a metric to measure the success of advertising campaigns, check trends and even determine how many staff members are needed at any given shift. Front of house — Area of the restaurant where customers or guests are G Goodwill — Positive reputation or value of your business with your customers GPM — 'Gross profit margin,' or the money left after subtracting COGS from final revenue. This can be indicated as a percentage or as a peso amount.
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