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3:46
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Jacob Clifford
Maximizing Profit Practice
In this video, I explain how to identify the profit-maximizing quantity and calculate total revenue and profit. MR=MC is the most important concept in microeconomics. Thanks for watching. Need help? Check out the Ultimate Review Packet: https://www.ultimatereviewpacket.com/
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The restaurant profitability formula ↓ Most restaurant owners think they need more sales to fix their profit problem. I used to think that too until I learned the 30/30/30/10 rule. 👉 30% food costs 👉 30% labor 👉 30% overhead 👉 10% profit If those ratios slip, your bottom line bleeds. Say your manager tells you, “We’re just 3% over budget this week.” Sounds harmless, right? But if your restaurant does $15,000 in weekly sales, that “3%” means $450 gone every single week. Over a year, that’s $2
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Restaurant owners: Doing at least $75K/month in sales, but still not making enough profit? If that’s you, don’t waste time trying to get more sales. Yes, that goes against what most “marketing agencies” will tell you. More sales is good, but it’s NOT the fastest path to what you REALLY want… which is more take-home profit So what’s the easiest & fastest path to higher take-home profits? It’s not: ❌ Facebook ads ❌ SEO ❌ Working more to save on labor Here’s what I found after running 4 of my own r
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