Tag: food cost management

food cost management

Mastering Food Cost Management: Strategies for Boosting Restaurant Profitability

Food cost management is extremely important for a multi-unit restaurant owner, as it directly impacts their profitability and overall financial success. Food cost is one of the largest expenses for any restaurant, and it can be particularly challenging for a multi-unit operation that has to manage the costs across multiple locations.

Effective food cost management involves a variety of strategies, such as negotiating with suppliers for better prices, reducing waste and spoilage, optimizing menu pricing, and implementing portion control measures. By successfully managing food costs, a multi-unit restaurant owner can improve their profit margins, which is crucial for the long-term success of their business.

In addition, food cost management can also help a restaurant owner ensure consistency in food quality across multiple locations, which is important for maintaining customer satisfaction and loyalty. By controlling food costs, a restaurant can invest in other areas of the business, such as marketing, staff training, and restaurant improvements, which can further enhance the customer experience and drive revenue growth.

There are several ways that a restaurant can streamline the food cost management process to make it more efficient and effective. Here are a few strategies that a restaurant owner can consider:

implement an inventory management system

Implement an inventory management system

By using an inventory management system, a restaurant can keep track of its food stock levels, monitor usage patterns, and identify areas where waste or over-ordering may be occurring. This can help the restaurant to reduce food waste and optimize ordering processes, which can in turn reduce food costs.

use standardize recipes

Use standardized recipes

Standardized recipes can help a restaurant to maintain consistency in portion sizes and ingredient usage across multiple locations, which can help to control food costs. By using a recipe management system, a restaurant can ensure that each location is following the same recipe and using the same ingredients, which can reduce waste and improve profitability.

monitor food waste

Monitor food waste

By tracking food waste and identifying patterns, a restaurant can take steps to reduce waste and optimize portion sizes. This can involve training staff on proper portion control, implementing waste reduction programs, and analyzing waste data to identify areas for improvement.

Stay Up-to-Date on Food Prices

Stay Up-to-Date on Food Prices

A restaurant can reduce its food costs without compromising on quality. This can involve shopping around for better deals, leveraging buying power across multiple locations, and building strong relationships with suppliers.

Analyze food cost data

Analyze food cost data

By regularly analyzing food cost data, a restaurant can identify trends and make informed decisions about pricing, menu offerings, and ordering processes. This can involve using analytics tools to track sales, costs, and profitability across multiple locations, and using this data to inform strategic decisions about the business.

Overall, streamlining the food cost management process requires a combination of technology, training, data analysis, and strategic thinking. By implementing these strategies, a restaurant can optimize its food costs, improve profitability, and ensure consistency in food quality across multiple locations.

Food cost management is an essential aspect of running a successful multi-unit restaurant operation, and it requires ongoing attention and effort from the owner and management team.

Efficient Restaurant

How to Run an Efficient Restaurant During a Labor Shortage

To run a restaurant operation during the current labor shortage is one thing. Running an efficient one is another. With the continuation of the pandemic and no relief in sight, especially before the holidays, restaurant operators are seeking alternatives to what was once known to them as their traditional, every-day way of running their operation.

There’s no doubt that times are changing, and everyone is doing their part to keep up. These changes are fairly easy to make and will not only help you run a more efficient business, but will also put money back in your pocket.

Let’s take a look at three different ways Consolidated Concepts experts say you can run an efficient restaurant during the current labor shortage:

Technology Can Streamline Processes

Technology has played a massive role in restaurant operators lives, especially since the beginning of the pandemic. From QR code menus and mobile ordering to inventory management, there’s nothing technology can’t do to help streamline your operation.

One way we encourage restaurant operators to implement technology is by partnering with industry experts such as InsideTrack. With the help of their spend management technology, you’ll have access to the most effective data cleaning in the foodservice industry. Data accuracyconsistency, and reliability are guaranteed. Operators like you gain better insights and spend intelligence into your operation.

By embracing spend management technology, you make better business decisions and identify new opportunities for savings and revenue. Data on your purchases is organized into easy-to-read dashboards you can access at any time. InsideTrack members can streamline operations by utilizing spend management, contract management, cost savings, GPO services, and much more—all within one powerful technology software.

Another way experts at Consolidated Concepts encourage the use of technology is by taking advantage of food cost management. Food cost management technology is a great resource that helps operators and chefs manage and control their food cost, inventory, and much more.

Food cost management technology puts time back into your day and helps you figure out any pain points that may be affecting the success of your operation.

Instead of hand-counting each item, you simply upload a screenshot of your invoices and Orderly takes care of the rest. You speed up your inventory process when you implement technology into your operation.

Now you can calculate the cost of a recipe online, too! With solutions such as Orderly, you’re able to build all of your recipes directly into the system. Each time an invoice is uploaded, the technology breaks down each ingredient and updates your prices in real-time.

Technology is key to running an efficient restaurant operation during these times. There’s an infinite number of things technology can do to ensure you’re streamlining operations, putting time back into your day and money into your bottom line.

Using Versatile, Easy-To-Prepare Ingredients

Did you know you could save time and money by incorporating versatile ingredients that are delicious and easy to prep? With products like Idahoan Real Potatoes, your customers will have that homemade taste and authentic feel they’re craving.

With the cold weather here, you can even add quick, savory soups onto your menus with items like Campbell’s Soup. Maybe even a soup base that’s less expensive and more consistent than scratch for you to work your final touches on such as LeGoût Cream Soup Base.

Have you considered pre-made sauces that are free of artificial colors/flavors and preservatives? Save time on prep and create dishes your guests will love with Knorr® Professional sauces. From gravies to sauces, your back of house will be thanking you for putting time back into their busy schedules.

But that’s not all. Who has time to hand-squeeze lemon and lime? Nobody, especially now with the labor shortage. That’s why The ReaLemon and ReaLime juices are great labor-saving ingredients that eliminate the inconvenience of slicing and squeezing. These juices are also a great option for salads, dips, main meals, and even beverages.

When you use versatile ingredients, you save money and put time back into your day while also satisfying your customers’ needs. Work smarter, not harder.

Partnering with Supply Chain Management Experts

Another way to ensure you run an efficient restaurant operation during a labor shortage is by partnering with supply chain management experts like Consolidated Concepts. With the current state of the supply chain, taking control of what comes into your operation seems nearly impossible.

You’ll have access to a fully customizable service that brings instant savings on thousands of items you may already be buying. Our experts help reduce costs, improve quality, and identify areas you may be able to achieve savings and negotiations in. This includes supply chain management, master distributions agreements, managed produce, and contracts.

Our supply chain management ensures maximum profitability and productivity while giving you access to items at the best competitive prices.

Join Consolidated Concepts Today!

If you’re looking to run an efficient restaurant operation during the current labor shortage, becoming a Consolidated Concepts member is a great place to start. As mentioned above, our experts will help reduce costs, improve quality, and identify instant savings!

Get started today!