PURE Restaurant Solutions’ Post

"Calculate Food Cost Ratios" Knowing your food cost per dish helps you spot where your margins are highest—don’t ignore this key metric! Also known as theoretical food cost helps you understand what your margins should be.  While industry averages are directional, the margins for every restaurant varies!

Bytes A positive cost variance should be low and means the restaurant is efficient at food cost management. To measure food cost variance means an insight into the difference between the actual cost to produce menu items over a given time period and what the expected costs were over that same time.

🍽️ Did you know that one of the top ways hospitality owners lose money is through improper food costing? It's important to regularly adjust your menu prices to reflect the true cost of ingredients. We've helped clients install food & menu costing technolgy that helps keep track of varying prices with price alert warnings. ✅ If you'd like to find out more details, get in touch with us. 🤝 #NumberKrunchers #FoodCosting #HospitalityTips #HospitalityConsulting #ProfitableBusiness #SmallBusiness

Over half of Gen Z consumers identify themselves as hot sauce connoisseurs, and a quarter bring their own hot sauce to restaurants, reports Retail Dive: https://bit.ly/4di9nVe. My latest blog post looks at how these shifts in consumer tastes present a significant opportunity for the food service industry. Check it out here: https://bit.ly/3LWsR5F.

Struggling with setting the right menu prices? Ingredient costs fluctuating and market conditions ever-changing can make it a daunting task. Without the right pricing strategy, you risk losing profits or turning away potential customers. The three most important steps in setting proper prices are: ✅ Recipe Cards: If you don't have written recipes for each of your menu items, you are simply guessing and making up your prices. ✅ Regularly Update Ingredient Costs: Ingredient prices are influenced by various factors, making it essential for restaurants to maintain updated records and adapt their menus and promotions accordingly. ✅ Re-evaluate Menu Prices Periodically: Changing food trends and economic conditions necessitate periodic menu price evaluations, with feedback from customers and staff ensuring a balance between cost and value. Need expert guidance? We can provide the insights and expertise to optimize your menu pricing seamlessly. Let's chat. #restaurant #finance #accountific #yyc #menupricing #restaurantowner #foodandbeverage #bookkeepingservice #restauranteur

What causes food cost variance? If the actual food cost in your restaurant or hotel is higher than the ideal food cost (aka theoretical or target food cost), the reason can always be traced back to one or more of these seven causes: 1.Waste or squandering 2.Portion size 3.Poor reception procedure 4.Theft 5. Error in the accounts 6.Unrecorded sales 7.Modified/wrong ideal food cost

Lowering your food cost is HARD. There are so many factors that go into it. Inventory item costs Recipe costs Recipe portions P-Mix Waste Etc. Basically every aspect of the restaurant touches food cost. One of our Starfish customers is a growing QSR brand. This summer they realized that their food costs jumped over 30%. For them this number represented a big red stop sign. So they used Starfish to help identify what caused the increase and then took steps to lower it. The results speak for themselves....In P12 2024 they hit a 23.16% Food Cost which is an all time low for the brand. If you are a restaurant owner, what is your #1 tip to help others lower food costs? Comment below so we can help each other learn!

Struggling with setting the right menu prices? Ingredient costs fluctuating and market conditions ever-changing can make it a daunting task. Without the right pricing strategy, you risk losing profits or turning away potential customers. The three most important steps in setting proper prices are: ✅ Recipe Cards: If you don't have written recipes for each of your menu items, you are simply guessing and making up your prices. ✅ Regularly Update Ingredient Costs: Ingredient prices are influenced by various factors, making it essential for restaurants to maintain updated records and adapt their menus and promotions accordingly. ✅ Re-evaluate Menu Prices Periodically: Changing food trends and economic conditions necessitate periodic menu price evaluations, with feedback from customers and staff ensuring a balance between cost and value. Need expert guidance? We can provide the insights and expertise to optimize your menu pricing seamlessly. Let's chat. #restaurant #finance #accountific #yyc #menupricing #restaurantowner #foodandbeverage #bookkeepingservice #restauranteur

More like a reference to fast food in general, this article reflects the rapid rise in the cost to dine out, even at the lower end of the food chain! https://lnkd.in/gvbDpaxF ConsortiumRE #restaurantlife #restaurantconsultant #fastfood

Food Cost Control: How to Keep Quality High Without Breaking the Bank 💡 Balancing food costs while maintaining quality is a top challenge for both restaurant owners and chefs. Here are some strategies that work: Menu Audits: Regularly review your menu and analyze the profitability of each dish. Focus on keeping high-profit items that still deliver great taste. Reduce Waste: Train staff on portion control and use creative recipes to repurpose unused ingredients into specials. Supplier Relationships: Building strong connections with suppliers can lead to better pricing, faster delivery, and even insider knowledge on seasonal deals. Good food doesn’t have to come at an extreme cost. What’s your top tip for balancing food quality and cost? #FoodCostManagement #RestaurantStrategy #ExecutiveChefTips #QualityControl #Sustainability