Restaurant dining is deeply ingrained in American culture, as almost 47% of Americans dine out or order takeout weekly. Maximizing restaurant success hinges on efficient food cost management. Explore these valuable tips to optimize your restaurant’s performance.
Tip #1: Understand Food Costs
Managing food costs is one of the most critical aspects of running a profitable restaurant. Restaurant owners need to keep track of and regulate food prices to ensure profitability. Setting menu prices strategically requires a thorough understanding of the actual cost of food, as well as pricing meals based on demand or perceived value.
Tip #2: Forecast Sales
Sales forecasting is a useful tool to predict future sales and make informed decisions. It involves analyzing previous sales data to identify possible trends, which can help manage food costs and improve sales. By regularly forecasting sales, businesses can determine if there are any rising or seasonal trends that they can capitalize on.
Tip #3: Evaluate Food Grades
Taking into account the grade of produce is a practical way to manage food expenses. If avocados are being mashed, then it may be unnecessary to use more expensive graded avocados. However, if the food is the star of the dish, then the grade may matter significantly to restaurant owners.
Tip #4: Portion Food Optimally
Serving the right amount of food reduces food waste and improves a restaurant’s bottom line. Assessing food portions can be done by simply monitoring the plates returned to the kitchen. If large amounts of food remain on most plates, the food is likely over-portioned. Owners might consider maintaining menu prices but cutting back on portion sizes.
Tip #5: Conduct Inventory Weekly
Taking inventory of food and beverages every week is key to helping restaurant owners control their costs. Conducting regular inventories helps them know what is being utilized or underutilized. This prevents restaurant owners from ordering excessive or too few food products.
Tip #6: Control Food Waste
It is crucial to keep track of the amount of food waste generated by the restaurant. Food that is not prepared properly can be returned, and any extra portions are often wasted. Recycling food waste, such as cooking oil, can help improve a restaurant’s bottom line. Collaborating with SeQuential to recycle used cooking oil and grease can benefit the restaurant and the environment.
Contact SeQuential today if you’re ready to learn more about recycling used cooking oil. We provide every customer with a FREE collection container and accommodate your busy schedule with regular pickups. You’ll feel good about turning restaurant waste into clean, renewable fuel.