$1,000,000! Sure it's pricey, but, you only need to sell one. :becky:
Is that Fortuna, CA? I know that place. If so, I have seen tri-tip sandwiches go for as much as $9.00 a pop in Arcata, and $8 a pop in Cutten. I think if you are offering a decent sized sandwich, that is a reasonable cost. I know the local shops up there are all in that range as well.
How to figure costs:
300 portions, assume 1/3 pound finished product per person
You need 99 pounds of finished product. In my experience, tri-tip cooked to a medium level loses about 10% of it's weight, you also lose about 5% in trimming and waste. Therefore you need 115 pounds of raw tri-tip.
Buns will run you about 25 cents a piece and you need 300
Condiments is tricky, if you are going to offer only BBQ sauce, 1.5 ounces per sandwich is a good estimate, therefore 3.5 gallons BBQ sauce.
Depending on cost of the tri-tip, you are looking at
115 lbs tri-tip at $6.50 a pound=$750
300 buns at .25 each=$75
BBQ sauce 3.5 gallons at $32/gal=$112
This will leave you with a food cost of $3.12 per sandwich (does not include charcoal, labor, condiments). You can assume that at this rate of cost, you are looking at a total per sandwich profit of somewhere around $3 per sandwich, assuming volunteer labor. If you can get donations, especially meat and charcoal, you could push that to $5 per sandwich.