Dissect your food costs
Your food costs may be the most dynamic part of your business, with supply chain strains, inflated costs, climate-related challenges and shifting consumer trends constantly altering the makeup of your menu. As such, there are ongoing opportunities for added expenses to creep in — but also for businesses to course-correct.
The tools and automated processes you have in place can help you stay on top of the changes. First, with what degree of precision do you understand your actual versus theoretical food costs? Do you have tools that can give you that information on-the-spot? Are you automatically updating your food cost records in step with your inventory and accounting cycles? Do you have the tools to help you understand the cost breakdown for menu components you make versus those you buy prepared — and how that changes as expenses for your supplies and staff climb? While the current confluence of economic challenges makes it all the more challenging for restaurants to profit, it also rewards those that can analyze their dynamic costs with the greatest precision. If you need help in improving your operation’s food cost management, ask Team Four/Value Four for help. |
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