7 Shifts

JUNE 4, 2021

Inventory turnover ratio. Your CoGSs is an essential number to have when determining your menu prices, inventory and impacts your net profit margin. To calculate your COGs, you need the following numbers: Beginning Inventory, or the value of the inventory you start with. Ending inventory , or what you have leftover.

Point of Sale 416

Point of Sale Inventory Employee Relations Customer Service 416

The Rail

JULY 5, 2024

You can decide on price, location, and advertising by researching the profitability and popularity of each menu item. To boost sales, concentrate on emphasizing and selectively advertising high-margin goods. Use inventory management systems to keep tabs on consumption trends, keep track of inventory levels, and reduce loss.

Management 52

Management Management Loyalty Program Point of Sale 52

Open for Business

SEPTEMBER 2, 2024

Marketing and advertising are fundamental for growth, but restaurants tend to keep these costs to about 3-6% of total sales. Use inventory management software to track usage and reduce waste. A data-driven approach can significantly reduce food waste and overordering. Try to keep labor costs between 25-35% of total sales.

Point of Sale 78

Point of Sale Seasonal Menu Customer Service Inventory 78

ChowNow

AUGUST 26, 2024

Startup Budget This covers initial costs such as equipment, licenses, renovations and initial inventory. Allocating funds to promotional activities and advertising will help drive customer traffic and increase sales. Additionally, consider using an inventory tracking system to reduce spoilage or lost inventory.

Cash Management 78

Cash Management Seasonal Menu Inventory Equipment 78

7 Shifts

MAY 23, 2024

This can reduce your budget for ingredients and, at the same time, minimize food waste. While it might seem tempting to overspend on your marketing and advertising efforts, the cash you'd use to pay to run your ads could only lead to waste, especially if you don't know much about running an ad campaign effectively.

Point of Sale 221

Point of Sale Seasonal Menu Food Supply Cash Management 221

7 Shifts

AUGUST 18, 2024

Without a plan, it's easy to spend too much or too little on marketing, and to waste time and money on campaigns that don't work. It's easy to focus on getting customers through the door with advertisements and discounts, but if you're not working on keeping them there—and bringing new ones back—then your business could be at risk.

Bar 370

Bar License Email Marketing Customer Service 370

Squirrel Systems

MARCH 3, 2024

Additionally, simplifying the menu to focus on high-performing dishes can reduce kitchen complexity and waste. This involves meticulous inventory management to prevent overordering and minimize waste. If certain dishes consistently result in leftovers, reducing the portion size can reduce food costs and waste.

Pricing 52

Pricing Loyalty Program Waste Social Media 52

The Restaurant Group

APRIL 15, 2020

This is generally due to poor management, advertising and other factors, but having to do more directly with a poor understanding of overall financial operations specific to food and liquor cost controls. Control methods are placed in a variety of areas and ways, and typically this all starts with an accurate inventory and ordering system.

Bar 78

Bar Inventory BOH Waste 78

Restaurant365

JULY 24, 2020

When recruiting for your ghost kitchen, advertise your job openings where job seekers are searching. Control Inventory for Your Virtual Kitchen. Managing your restaurant inventory helps you prevent waste, lower your food cost, and increase your bottom line. Initially, you’ll want to lower stock inventory.

Front of House 147

Front of House Online Ordering Kitchen Safety Customer Service 147

Restaurant365

OCTOBER 14, 2020

Prime cost is made up of the cost of goods sold, or CoGS (the food and beverage inventory you purchase to make the menu items you sell) and your labor costs (the staff you need to run your business). Finally, these expenses may cover technology and software like restaurant management solutions, as well as any marketing or advertising costs.

Point of Sale 78

Point of Sale Email Marketing Cash Management Advertising 78

The Rail

APRIL 14, 2023

If nothing else, this may just be your chance to make everything shiny and fresh so you can garner attention and advertise your restaurant as “new and improved.” You can do that by serving smaller portions, trimming down the options on your menu, and taking daily inventory to ensure you aren’t buying anything you don’t need.

Social Media 111

Social Media Kitchen Safety Outdoor Food Safety 111

Restaurant365

DECEMBER 4, 2020

Understanding this break-even number, which is based on your operating expenses, informs everything from your staffing decisions to adjustments in inventory. This approach has been challenging for restaurants in particular, who have labor and inventory that can be difficult to adjust quickly. Managing rotating inventory.

2021 78

2021 Operations Mobile Ordering Social Media 78

Restaurant365

DECEMBER 17, 2019

However, the biggest factor in controlling food costs is improving your inventory management. An accurate inventory management system can not only help you track your restaurant food costs, but also highlight areas of food waste or inefficiencies that you can adjust for lower overall food costs. Labor Costs.

Point of Sale 120

Point of Sale License Insurance Employee Relations 120

Tableo

JUNE 28, 2023

Update your inventory frequently to account for variations in stock levels. Regularly conduct inventory audits Performing regular inventory audits ensures accuracy in calculating food costs. Here’s what you can do: Physically count your inventory to confirm stock levels. New to Tableo?

Audits 40

Audits Inventory Reference Download 40

Restaurant Engine

JUNE 28, 2023

2: Monitor Customer Waste Another way to cut costs is to look at what your customers are leaving uneaten on their plates. If you are regularly throwing away leftover food, you are really wasting your money. In addition, you also want to monitor your waste. And manage your food inventory well so you don’t have excess spillage.

Website Management 52

Website Management Waste Airlines Small Business 52

7 Shifts

OCTOBER 22, 2024

Blog about food to boost your restaurant’s online visibility Don’t waste your website’s potential by just posting your menu or event updates. For instance, if you're advertising a limited-time offer, emphasize urgency by using phrases like "Only available this week" or "Book now before we sell out."

Book 195

Book Marketing Email Marketing Social Media 195

BNG Point of Sale

AUGUST 19, 2021

Food and drink inventory costs need to include the ingredients costs per meal or per drink. To calculate your CoGS, take your starting inventory amount plus the cost of that inventory and subtract your ending inventory amount. . electric and waste removal.) . Reduce Food Waste with Tight Inventory .

Cash Management 52

Cash Management Point of Sale Inventory Food Truck 52

Open for Business

OCTOBER 20, 2023

Don’t forget to detail marketing strategies, which could range from social media advertising to partnerships with local businesses. It’s so much more than a way of processing transactions: POS systems track sales, manage inventory, and even generate reports that offer insights into customer behavior.

License 78

License Email Marketing Front of House Social Media 78

Restaurant365

NOVEMBER 19, 2019

Managing complex, rotating inventory. Restaurant inventory management involves a large number of moving pieces, many of which are “temporary” compared to other retail businesses. Ingredient costs are one of a restaurant’s largest expenses and managing inventory accurately can be difficult. Conclusion.

Operations 92

Operations 2020 Mobile Ordering Social Media 92

Get Beyond

OCTOBER 24, 2023

Eye up your inventory You can’t beat all your sales goals if you don’t have the inventory ready. Increase advertising The ramp-up to Small Business Saturday is as important as the day itself. Since you put in all the effort for a special occasion, don’t let that great content go to waste.

Small Business 52

Small Business 2023 Social Media Customer Experience 52

Restaurant365

JUNE 4, 2021

Consider investing in signage in your local area or advertising in local publications. Your AvT measures what inventory you should be using, assuming perfect portions and no mistakes, in contrast to what you are actually using. Your inventory management is another critical part of maintaining an optimized food cost.

Point of Sale 78

Point of Sale Loyalty Program Inventory Customer Service 78

Foodable

JULY 22, 2020

Use each drink as an opportunity to sell up your current inventory. Make sure your branding is clear and your packaging reduces waste, follows best safety and sanitation practices, and is easy to serve.

Bar 52

Bar Education Food Safety Presentation 52

BNG Point of Sale

SEPTEMBER 2, 2021

Overhead costs refer to ongoing expenses such as advertising, utilities, and rent which make running an eatery possible in addition to raw materials and food for goods production. . Advertising . Inventory management . Typical Restaurant Overhead Costs and Expenses . Overhead costs are your everyday expenses. Salaries .

Employee Relations 52

Employee Relations License Point of Sale Food Supply 52

Restaurant365

AUGUST 25, 2020

Too much inventory. Marketing and advertising costs. Keep Inventory Low. If your restaurant sales are not covering your expenses or if you have extra inventory in your walk-in or dry-storage that just isn’t moving, it may be time to update your restaurant menu. it’s a good time to start trimming fat from inventory.

Cash Management 97

Cash Management Seasonal Menu Inventory Email Marketing 97

Restaurant365

APRIL 20, 2022

Incentives and loyalty programs are relatively inexpensive in relation to the cost of acquiring new customers through marketing and advertisement. You can optimize food usage and reduce waste. Punch cards, coupons, point systems, and even exclusive products can also keep your customers coming back.

Loyalty Program 78

Loyalty Program Customer Service Customer Experience Employee Relations 78

Marketman

AUGUST 11, 2019

Step 1: Determine your cost of goods sold (COGS) – Take the value of your inventory at the beginning of the month ($25,000), add the purchases you made that month ($3,000), subtract your ending inventory for the month ($24,000). The impact inventory has on your profitability. This gives you a $4,000 COGS.

Food 45

Food Inventory Fine Dining Pricing 45

The Restaurant Times

MARCH 14, 2022

They must be able to handle inventory, orders, expenditures, and, most crucially, the behaviour of other individuals. Waste Reduction And Profit Maximization. When it comes to increasing food quality and reducing waste, several restaurants have found success by shrinking their menus to half or even a third of what they were previously.

Hiring 52

Hiring Waste Food Order Customer Service 52

Modern Restaurant Management

DECEMBER 10, 2019

Online advertisements, social media, and promotions in local media will help you to fill tables during quieter months. Keep an optimal level of inventory to minimize waste. Examine Your Menu : Your menu can have a huge impact on your cash flow. Make sure you monitor stock on a regular basis.

Cash Management 124

Cash Management Seasonal Menu Social Media Small Business 124

BNG Point of Sale

JULY 30, 2021

The fact that your food truck is your primary means of advertisement is true. You can boost your company’s presence by advertising on the side of your truck with an eye-catching display. Investing in flyers may also be useful for advertising on community boards. . Reduce waste and theft .

Food Truck 52

Food Truck Food Point of Sale Online Ordering 52

The Restaurant Times

AUGUST 5, 2022

You can easily calculate the COGS for the week by subtracting the inventory at the end of the week from the beginning inventory. Once you have a clear idea of the cost of your inventory, you can effectively decide the profits you want to make on each plate. Automated Inventory Management. Labor Costs . Operating Cost.

Cash Management 52

Cash Management Point of Sale Inventory Employee Relations 52

Sling

AUGUST 6, 2020

The Lean project management methodology revolves around maximizing customer value and minimizing waste. This ideal often manifests as using fewer resources and is embodied by the value that, as waste is eliminated, quality improves and production time and cost are reduced. Overproduction. Over-processing. Project Scope.

Management 78

Management Management Small Business Government 78

Indoor Media

OCTOBER 13, 2017

IndoorMedia’s CEO, Doug Endsley, started his career working in fast food and moved his way up to become the founder of the nation’s largest in-store advertising company. When I began managing restaurants, we were introduced to the new point of sale systems that held all the data about our sales and inventory.

Point of Sale 78

Point of Sale Inventory Cash Management Leadership 78

Marketman

AUGUST 11, 2019

Step 1: Determine your cost of goods sold (COGS) – Take the value of your inventory at the beginning of the month ($25,000), add the purchases you made that month ($3,000), subtract your ending inventory for the month ($24,000). The impact inventory has on your profitability. This gives you a $4,000 COGS.

Food 40

Food Inventory Fine Dining Pricing 40

24/7 Waiter

FEBRUARY 16, 2024

Social media provides ways to engage with your customers through comments, direct messages, and re-posts while posters allow you to have a conversation in person with people who have seen your advertising. This helps to reduce waste and optimize time and inventory.

Online Ordering 36

Online Ordering Food Order Ordering Mobile Ordering 36

Modern Restaurant Management

DECEMBER 16, 2021

With current supply chain issues and these brands already operating under thin margins, we expect operators to be strategic when it comes to menu sizes, limited offerings and daypart offerings to limit waste, cut costs, and maximize profitability. This is increasingly important after widespread COVID-related disruptions.

2022 180

2022 Food Supply Back of House Kitchen Safety 180

Marketman

JUNE 30, 2019

The easiest and probably the most obvious is to reduce waste. Are you doing everything within your power to prevent, recover and recycle waste; or are there still some gaps that need to be plugged. . Take waste out of the equation: Is your restaurant still tossing a substantial amount of unusable food? Buy in Bulk.

Recycling 40

Recycling Food Supply Waste Sustainability 40

Marketman

JUNE 30, 2019

The easiest and probably the most obvious is to reduce waste. Are you doing everything within your power to prevent, recover and recycle waste; or are there still some gaps that need to be plugged. . Take waste out of the equation: Is your restaurant still tossing a substantial amount of unusable food? Buy in Bulk.

Recycling 40

Recycling Food Supply Waste Sustainability 40