Inflation is going to hit you hard, hit back!
With wholesale foodservice prices increasing at a staggering rate (it was 5.8% in April!), it is more important than ever to accurately check your retail margins on the food you’re serving. There’s no room for waste.
*Stated by CGA Prestige Foodservice Price Index as reported in Propel Newsletter 27the June 2017
Our 7 fighting tips:
- Update your food costs – Realising your dish specifications are out of date and not delivering the margins you’d planned when the quarterly P&L arrives is too late to claw back lost profit. Make sure you’re using up-to-date costs to calculate recipes. The wrong data in, the wrong data out. Better still adopt a ‘live’ menu management tool such as CaterCost
- Have specific ingredients lists – Know exactly what is going into your dish to the last pinch and stick to it. 27g is 27g (not 25 or 29). This reduces waste and makes calculating cost more accurate.
- Calculate from the food’s usable weight - Some foods, like vegetables and meat, have lots of waste or shrink when cooked. Don’t include costs from wastage you can’t use, it’s not bringing you in any money.
- Know your sub-recipes – Within many recipes are sub-recipes, like the gravy you use or the salad dressing. Be as precise with these as you are with your main recipes to get more accurate profit calculations.
- Use smaller bowls – For dishes that often have leftovers, present them in a smaller bowl or a quirky basket to keep the portion size smaller and consistent.
- Engineer your menu – Put the dishes that use the cheapest ingredients, bring in the most profit, while also being quick and easy to prepare, in the top two and last lines on your menu. These are where people look the most.
- Utilise your specials board – Use it for dishes that use ingredients with fluctuating or seasonal prices. That way you can sell them when their prices are cheap and remove them when they’re not.
Following these tips should help you calculate accurate costs for your menu, keep wastage low and keep profits high (while ensuring your real-life profits match up with the ones on paper).
To make your life quicker, so you spend more time cooking and less time calculating, why not trial CaterCost Menu Management Software. It does all the maths in your menu so you don’t have to.