This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Culinary and Cocktail Trend Forecasts Kimpton is returning with its annual Culinary + Cocktail Trend Forecast highlighting predictions from its global team of restaurant and beverage talent. Freeze-Dried Fruit & Veggie Powders Freeze drying fruits or vegetables enhances both flavor and texture in beverages.
Restaurant menu prices continue upward as the U.S. Operators are being forced to make changes in an effort to navigate the price escalation. Technomic also reported that 45 percent of consumers say they usually pick restaurants with lower prices. Run LTO’s to Reduce Food Waste. percent on an annual basis.
Although this means that we are now down to just 20 percent of our business, we are able to stay afloat financially by applying the same waste reduction efficiencies in our own work that we pass on to our consulting clients. Historically, we have trained cafeteria staff to cook food from scratch while also reducing food and labor waste.
Steady Online Ordering Brings Food Waste, Donations to the Forefront of Priorities Ordering food online increases restaurant sales, but it also can potentially increase wasted food if proactive measures aren’t taken – for both the business and consumers at home.
Knowing the true cost per serving means you’re not guessing where to set menu prices. When done correctly, dish costing helps you control food costs, reduce food waste, and price items in a way that supports your restaurant’s financial health without alienating guests. Every smart pricing move starts here.
A Dilemma of “Super Size” Proportions Amid rising food prices and shifting consumer preferences, the restaurant industry is facing a dilemma of “super size” proportions. percent menu-price inflation rate. Customers can become more critical of the quality of products and services when prices increase.
High coffee prices are becoming a lasting reality for the industry. While many assert that this signifies a long overdue change, as coffee has historically been an undervalued commodity, price volatility affects all levels of the supply chain in various ways. For coffee shops, in particular, margins are tighter than ever.
The goal for every food and beverage company is to synchronize supply and demand. In order to reduce cost, waste, and optimize inventory, the process begins with planning and forecasting. Your supply chain is a good place to look for a leg-up on price, product, and consumer trust. Planning and Forecasting.
When you decided to open a restaurant, you probably didnt picture yourself glued to spreadsheets or tracking the price of eggs, but keeping an eye on the numbers is how you stay open year after year. This gives you a sense of how effective your menu pricing is. Your cost of goods sold (ingredients, beverages, packaging, etc.)
The prices of goods and services have increased 8.5 Rebounding demand, supply chain issues, and labor shortages are mostly to blame for driving prices to an all-time high. It requires a careful examination of your recipes, your team’s prep efficiency, and menu item prices. Take Advantage of QR Codes.
Not quite yet An easy way to bring bold Korean flavors to modern menus From BBQ to beverages, menus are seeing a lot of action Food C-stores are stealing fast-food tactics. Continue to Site >>> Menu C-stores are stealing fast-food tactics. this year, according to new data from Intouch Insight. “It
Food Costs (COGS) Your food costs, or cost of goods sold (COGS), include everything that goes into producing your menu items, including: Recipe ingredients Beverages Condiments Disposables, like to-go containers, straws, and napkins Tracking your food costs percentage helps you understand how much of your revenue is being spent on your menu.
Examples include: Food and beverage costs Hourly wages for staff Takeout packaging and containers Credit card and online processing fees These costs are usually the easiest to adjust and optimize in real time. Most restaurants food cost percentage should fall somewhere between 28%-35% , depending on your concept and pricing strategy.
Focused on the retail, services and restaurant industries, the SpotOn ecosystem offers powerful technology to small- and medium-sized businesses (SMBs) at a price they can afford. ” “Tastewise has been incredibly valuable in helping us to uncover white spaces in the food and beverage industry. BIBO Beverage Debuts.
Careful forecasting can help improve order accuracy and reduce waste. Cross utilizing menu items helps reduce waste and save money. Hold Vendors Accountable to Contract Pricing As restaurant owners receive vendor invoices, they should use a system that can track purchased item costs to discover any contract violations.
But perhaps the brand’s most radical transformation was on the beverage side, where it has added modern sips like boba as well as craft cocktails, including frozen margaritas and mojitos. We do see beverages and on-the-go beverages as a big growth opportunity for both of the brands,” O’Reilly said.
Small spaces can obviously help save on price-per-square-foot costs, they naturally reduce energy consumption, encourage precise inventory management, and enable more intentional material choices – all of which dovetail nicely with sustainability goals. Go big in little ways.
The convenience-retailing giant on Wednesday announced a Craveables Value Menu, pitting it in head-to-head competition with fast-food chains also looking to win consumers over with low prices. The move comes as consumers continue to limit their visits to restaurants and rein in their basket sizes amid elevated prices.
Compare different policies and choose one that offers good coverage at a reasonable price. Variable costs Variable costs depend on your restaurant’s level of activity, including food and beverage costs, labor costs, and supplies. Train your staff to use ingredients efficiently and plan your menu to minimize waste.
Typically, the income statements I review show only gross income as “food and beverage sales.” ” To use the income statement as a weapon against unprofitability, the income statement must separate food, beer, liquor, wine, non-alcohol beverages, retail, etc. The COGS must be set up the same way.
The cost of food and beverages is a bit of a moving target. It is affected by seasonality, market prices, and even pop culture. Food and beverages make up half of your prime costs (along with labor). Determine your ideal menu price Multiply your plate cost by the food cost percentage to reach a target menu price.
Inefficient restaurant inventory management practices, improper storage, gaps in inventory logs, theft, and waste can cause even the most successful kitchens to struggle or fail. Forecasting tools enable managers to purchase food, beverage, and supplies at the right level.
These factors contribute to a volatile supply chain, influencing everything from ingredient availability to menu pricing strategies. These technologies not only help to reduce waste with precise supply chain and inventory tracking but also guarantee food freshness and authenticity.
That means juggling everything from hiring and managing staff; deciding on your menu and any day-to-day changes; ordering food, beverages, dishes and other kitchen and dining room essentials; to handling to-go and pick-up orders, among other tasks. Too-large portions contribute to food waste and cut into your profit margins.
Over one-third (36 percent) of respondents reported more customers in 2023 than 2022, almost half (47 percent) reported higher check averages in 2023, a slight majority (51 percent) reported tracking better or the same as 2019, and almost three-quarters (72 percent) reporting increasing menu prices by 10-25 percent in the last year.
However, the impact that AI is already having on the food industry is without parallel, helping to lower food prices, increase the availability of certain products or ingredients, and prevent supply chain shortages. AI can also make up for personnel shortages in the food and beverage industry by doing jobs that were previously done by humans.
Restaurants have endless third-party ordering app options, but those do come with a price, approximately five-twenty percent of each sale. Allowing guests to view menus via QR code means less paper waste for restaurants, and more opportunities to improve their online menu design.
Restaurants will also explore delivery options beyond costly third-party partnerships, and hike delivery menu prices to make the channel more lucrative as off-premise demand holds steady. A short menu can slim down the food costs through streamlined inventory management, as well as reduced food waste. Simplified Menus.
Most notably, consumer spending at restaurants appears to be holding-up relatively well this summer despite aggressive menu-price increases in the first-half of the year." Consumer spending at restaurants appears to be holding-up relatively well this summer despite aggressive menu-price increases in the first-half of the year.
Financial restaurant KPIs give you visibility into your costs, pricing, and ultimately, your profitability. Cost of Goods Sold (COGS) Cost of Goods Sold tells you how much it actually costs to make the food and beverage sales you sell. This includes kitchen ingredients, beverages, and packagingbasically, all of your raw materials.
. “Online and mobile ordering was a lifeline to restaurants shut-down in the pandemic and continues to provide steady revenue,” said Simon de Montfort Walker, senior vice president and general manager at Oracle Food and Beverage. For more information on Oracle Food and Beverage visit: [link]. Latest Beverage Trends.
Zero-waste, high-fiber snack bars Food What operators should know about ancient grains Sponsored content from our partner Furmano’s on Jul. 23, 2025 Facebook Twitter LinkedIn Ancient grains like spelt/farro, quinoa, and sorghum have received a lot of culinary buzz in recent years. That doesn’t mean it’s not expensive there.
Wishnow, a former Dunkin’ and Taco Bell franchisee, tapped menu consultants and brand builders The Culinary Edge to design a menu that falls somewhere between Salad and Go and Sweetgreen, price-wise. The way Greenlane prices its menu has evolved since the first unit opened in 2023. Continue to Site >>> Menu Forget coffee.
When hiring restaurant accountants, your primary consideration should be those who understand the complexity of the food and beverage industry—both front-of-the-house and back-of-the-house operations and management. This number is essential because it helps you determine the price of your food and beverages.
With rising ingredient prices and tight profit margins, understanding the food cost formula can make the difference between financial success and failure. By accurately calculating food costs, restaurant owners can set the right menu prices, reduce waste, and maximize their profits. Whole Wheat Bun $0.30 Avocado(1/4) $1.20
According to Datassential’s Buzz 2024 report, the leading factors attracting customers out of the home for coffee occasions are convenience, quality and price. When more of the beverage production process is automated, operators can feel confident that each step of the process will be executed the same way for each and every beverage.
This capability can prove invaluable for refining pricing strategies, optimising ingredient and waste management, and planning forthcoming shifts, among other benefits. While you can not always control the commodity pricing, you can control how you manage it by reducing waste, optimizing efficiencies and leveraging margins.
Unfortunately, measures set up to safeguard health have overall caused inefficiency and higher prices, which regrettably have caused layoffs for food workers and drivers (3). This has resulted in under-ordering (and dissatisfied customers) or over-ordering (and increased waste). What about issues concerning reducing food waste?
– Chris Adams, VP of Strategy, Oracle Food and Beverage. "As From the increasing demand for low-to-no ABV draft options to the motivation behind rising consumer expectations, these trends have the power to impact the financial performance of the beverage program.
Spirit-based, ready-to-drink beverages will continue show vast white space, and bourbon should continue to thrive. Reduce portion sizes slightly to maintain menu prices but account for increased costs. Don’t be afraid to increase price. Don’t be afraid to increase price.
Components of a restaurant’s financial report The food and beverage sales report, prime costs report, inventory report, profit and loss (P&L) statement, and cash flow statement are all critical components of a restaurant's financial management. This way, you can decide whether you need to raise your prices or not.
While true zero-restaurant food waste is extremely rare, it can be a meaningful goal. Implementing a zero-waste initiative can help minimize your carbon footprint and may even attract new customers who embrace your environmental friendliness. Additionally, limiting your food waste can improve your restaurant’s bottom line.
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. Simon de Montfort Walker, Senior Vice President and General Manager, Oracle Food and Beverage.
These challenges pose the potential for inventory constraints, menu price increases, delays in service and more, impacting not only the hours restaurants can stay open but also the capacity at which they can operate. Those that raise prices too far will risk alienating some of their customer base.
We organize all of the trending information in your field so you don't have to. Join 49,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content