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Restaurant Budgeting: How to Create A Restaurant Budget

7 Shifts

This includes: Net Sales: The total revenue derived from your sale of food and beverages. However, as a rule, the primary costs you can expect in running your restaurant are usually related to food, labor, and rent. Managing a restaurant is not for the faint-hearted. What are the top 3 expenses of restaurants?

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FOOD COST IS NOT THE CHEF’S RESPONSIBILITY

Culinary Cues

The buck seems to always stop with the chef; it’s the chef’s kitchen, the chef’s food cost, and the chef’s menu that drives marginal profit at best. The answer is simple, yet profoundly challenging: food cost is EVERYONE’S responsibility. So, if the cost of goods is not the chef’s responsibility, then where does the buck stop?

Food 381
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What Do Guests Think About Dynamic Pricing?

Modern Restaurant Management

Dynamic pricing would add friction to the guest experience, according to Capterra’s 2023 Dynamic Pricing in Restaurants. Sixty-five percent of consumers say dynamic pricing would make the decision of where and when to eat more difficult; 63 percent say it would make it harder to budget their restaurant spending.

Pricing 195
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15 Restaurant Metrics to Know and How To Use Them

7 Shifts

Numbers can give us insights into everything from profits and losses to average customer spend to how often employees cycle through. Food cost percentage. Break-even point. Employee turnover rate. Sales per labor hour. Ideal menu price. Business is often a game of numbers, and restaurants are no exception.

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On the Road to Relief: Restaurant Trends and Opportunities to Watch

Modern Restaurant Management

According to September 2023 numbers from the National Restaurant Association , 49 percent of restaurants reported year-over-year increases in same-store sales. Adapt to Growing Price Fatigue Since the pandemic, controlling food costs has been a major challenge for restaurant operators. Full-service menu prices climbed 4.5

2024 193
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Improving Restaurant Inventory Management to Beat Rising Food Prices

Restaurant365

Restaurant inventory management plays a key role in overcoming rising food prices. Logistics challenges and labor shortages have fueled rising food prices at the wholesale level. Data from the Bureau of Labor Statistics showed the November Producer Price Index, a measure of wholesale prices, up 9.6%

Inventory 148
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Is There a Right Way to Raise Prices?

Modern Restaurant Management

Due to many factors including inflation and supply chain challenges, restaurant owners and operators have been faced with tough choice about raising menu prices. As food prices rise, restaurants should try to stay within their target ratio for food cost to gross food revenue in order to maintain target profits.

Pricing 192