“I review a pro forma matrix daily. Basically it's a set of metrics (sales, estimated profit/ loss, pool margins, estimated expenses, transactions, etc.) used to measure and manage our stores, consisting of previous day sales data and is compiled monthly. This daily pro forma allows us to keep our finger on the pulse of the business. Some of the data is used for the labor matrix we are developing. The monthly compilation gives us an estimated EBITDA prior to our monthly financial reports being issued. There is nothing unique about either 'matrix' as they are just Excel spreadsheets."
- Chris Heinz, Coffee Cup Fuel Stops & Convenience Stores Inc.
I check to be sure we have a good inventory of bags of ice to sell every day. It is one of our most profitable items and we sell a lot of them, especially on a big weekend. We’ve already bought the machine to bag our own ice, so it is a sunk cost.”
- Brian Couch, Donna’s Travel Plaza
The first thing I check every day would be the fuel prices and margins. After checking fuel prices and gallons sold in last 24 hours, I will walk into store and check to see everything is in order while getting a cup of coffee. I also have a talk with some of the driver regulars. I make sure my cleaning person has the area and bathrooms cleaned. I ask my fuel managers if they had any problems and make sure everything is working normally. Then I go to my other truckstop and do the same thing. Finally, I go into my office to see my secretaries and resolve any questions or issues before sitting down at my desk to go over my paperwork.”
- Richard Tullo, Tullo Truck Stop LLC
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This article originally ran in Stop Watch magazine. Stop Watch provides in-depth content to assist NATSO members in improving their travel plaza business operations. The magazine is mailed to NATSO members bimonthly. If you are a member and not receiving Stop Watch, submit a request to be added to the mailing list. Not a member? Join today or submit a request to receive additional information. |
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