Keep a close eye on all the little things that add up!
1. Over-portioning menu items
How many people can eat an entire half chicken plus sides in one sitting? Not many people! Serving a half chicken on your menu plus a vegetable or starch on the side often results in lots of food being thrown out. That’s mone in the bin! You don’t want your guests feeling like bowling balls when they leave the restaurant… You want them to leave wanting more. So take a look at your menu items, and ask your staff what they often see coming back. Downsizing your menu items will help you save money and stop throwing perfectly good food out.
2. Inventory Management
The costs of operating a restaurant are rising, so having an efficient inventory management system is key to maintaining a healthy bottom line. If you don’t manage your inventory effectively, this can result in wasted food or running out of ingredients essential to your most popular dishes. Which both effect your profitability!
If you carry too much inventory of items that go bad, you have money sitting on your shelf doing nothing. Carry the proper amount of ingredients in stock. Implementing an effective inventory management system ensures accuracy and consistency that will help preserve profits.
3. Increasing prices
Increasing prices as labours, food and beverage costs escalate is just how businesses need to operate. But that doesn’t mean you need to suddenly increase your menu items all at once and stun you guests. Resist this temptation, as it could sour your relationship with your regulars. Instead, monitor food and labor increases, and make adjustments on a quarterly basis. Furthermore, introduce menu items with a lower food cost to offset increasing costs. These small changes will be more effective than increasing the prices on all your menu items all at once and still improve your bottom line.
Staffy is a staffing company that provides you with temporary on-demand restaurant and event staff within 90 minutes in Toronto, Vancouver and New York. Whether you need to hire a bartender, waiter or catering staff, Staffy has you covered! Learn more at www.staffy.com