7 Shifts

JULY 12, 2024

Fixed costs Fixed costs are expenses that remain constant, including rent, insurance, and utilities. If transferring isn’t an option, you can try to reduce other fixed costs like insurance premiums. . Train your staff to use ingredients efficiently and plan your menu to minimize waste. Constantino writes.

Food Truck

7 Shifts

AUGUST 7, 2024

Why it matters Restaurant Food Cost Percentages Calculate Food Cost Percentage Food costs vs Prime costs Menu Changes and Seasonality Strategies to Reduce Your Food Costs Food Cost Management Tools FAQ What is food cost? It is affected by seasonality, market prices, and even pop culture. Table of Contents What is it?

Food

Modern Restaurant Management

DECEMBER 10, 2019

You can also minimize the heightened cash flow pressures of the peak season. There are various reasons for fluctuating payroll: Seasonality, high staff turnover, and varying hourly rates (depending on experience). Forecasting can help you set the appropriate budget, taking seasonality into account.

Cash Management

7 Shifts

AUGUST 2, 2024

By tracking metrics like customer retention and employee turnover rate, contribution margin, and menu item profitability, restaurant managers can identify each area’s strengths and what areas need improvement. Use this data to establish clear and specific goals and adjust your strategies as needed.

Point of Sale

Modern Restaurant Management

AUGUST 5, 2020

“I wanted to make sure the whole menu, flavors, and even the packaging was on point,” said Tyga. ” The online menu offers crispy, oven-baked chicken bites in three different spice dusts including Black Garlic, Lemon Black Pepper, and Peri-Peri, a mix of tangy, sweet and spicy. Contest Details.

Food Safety

7 Shifts

AUGUST 18, 2024

Your restaurant is different so ensure you find your ideal food cost (discussed later) Labor cost : Roughly 30% of revenue including management salaries of 10% Insurance varies by provider and type. Fixed costs include rent, mortgage, salaries, loan payments, license fees, and insurance premiums. Why is Food Cost Important?

License

7 Shifts

JULY 5, 2024

Make better financial decisions If you notice that your food costs are higher than expected, you can take action to reduce waste or find a cheaper supplier. Another example is knowing which menu items are most profitable. If you see that certain dishes have high food costs but low sales, remove them from the menu.

Cash Management

Modern Restaurant Management

MARCH 11, 2020

.” The 25th edition of Scoop features products designed to help bar-and-grill operators easily get creative and innovate with their menus, with elevated, upsell-worthy versions of their traditional bar-and-grill fare. ” Spring Scoop highlights include: Elevated, Upsell-Worthy Bar-and-Grill Favorites. Plant-Forward Offerings.

Bar

7 Shifts

MAY 23, 2024

Food cost percentage When deciding how much to price your menu items, TouchBistro advises keeping the food cost percentage anywhere between 20% and 40%. This can reduce your budget for ingredients and, at the same time, minimize food waste. Most restaurants try to keep it at around 30% to be safe.

Point of Sale

7 Shifts

OCTOBER 8, 2021

There are dozens of costs associated with running a restaurant, and many of them remain out of your direct control: rent, utilities, insurance—etc. COGS is the cost of ingredients used by a restaurant over a certain period to create the menu items being sold—factoring in waste, theft, shrinkage, and more. Table of Contents.

Seasonal Menu

Restaurant365

MAY 26, 2020

Your CoGS is made up of the products you purchase to make the menu items you sell. Your labor cost includes labor expenses such as wages for both salaried and hourly employees, payroll taxes, health or workers compensation insurance, and any benefits you offer. Employee Wages + Taxes + Benefits + Insurance = Total Labor Cost.

Point of Sale

The Rail

NOVEMBER 2, 2023

By Indiana Lee, Contributor As we begin to move out of the fall season and into the winter, restaurant and bar owners are making preparations for what tends to be a challenging season. Adapting offerings based on the season is an expected, if somewhat inconvenient, requirement of working in the service industry.

Sustainability

Modern Restaurant Management

JUNE 28, 2024

“Our data indicates that QSR burger chains have generally been the hardest hit by the California increase in minimum wage and subsequent increase in menu prices,” writes Hottovy. The chain benefits from a combination of high perceived value through its “3 for Me” menu and service strength through employee retention.

2024

Lavu

MAY 30, 2025

Related: Cash Discounting for Restaurants: A Guide to Getting Started #2) Avoid food waste with better inventory management. Even so, food waste is a huge problem in the restaurant industry. A study found that the restaurant industry loses around $162 billion per year in food waste. Food goes to waste when inventory expires.

Cash Management

Open for Business

SEPTEMBER 2, 2024

It’s an all-important metric that influences everything from menu pricing to operational decisions and beyond. Is there a seasonal pattern? Measure the impact of changes: Did that new menu item boost your profits? Overhead costs are fixed costs including rent, utilities, equipment leases, and insurance.

Point of Sale

Restaurant365

AUGUST 25, 2020

Common fixed costs include: Rent, insurance, and property tax. Variable costs are expenses that vary in proportion to the total menu items you sell. 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.

Cash Management

Restaurant365

OCTOBER 23, 2019

Labor costs include the total wages your employees have earned during that specific period of time, payroll taxes, benefits, and insurance. Labor: Employee Wages + Taxes + Benefits + Insurance = Total Labor Cost ($6,000). Tracking prime cost monthly helps you make informed adjustments about menu prices, inventory, and scheduling.

Point of Sale

BNG Point of Sale

SEPTEMBER 2, 2021

The costs in this budget include the rent payments, the salaries, insurance, property taxes, and everything else. Business insurance . Improve Inventory Management : Using an inventory management system or tracking things closely with a spreadsheet can help you determine ingredient-level food costs and price your menu accordingly. .

Employee Relations

Apicbase

JUNE 16, 2023

For example, you can use sales data to track trends in customer spending and identify your most profitable menu items. On the other hand, if your restaurant operates with a seasonal menu, quarterly metrics could be more revealing. Consider menu engineering software as your strategic ally.

Point of Sale

BNG Point of Sale

AUGUST 12, 2021

Look at all overhead costs, including real estate, insurance, and medical. Know your customer base and boost your customer service skills and menu options to increase customer volumes. Reduce Food Waste . Know your exact liquor costs and food costs – including detailed ingredient costs. Develop a Sound Business Plan .

Franchising

The Restaurant Times

AUGUST 5, 2022

You can find out what your best-selling menu items are as well as narrow down on your most costly expenses. You can also regulate the price of your menu items once you know exactly how much each meal has cost in preparation. This includes the rent, property insurance, property taxes, and other utilities. . Occupancy Costs .

Cash Management

Modern Restaurant Management

AUGUST 16, 2021

Government data provides evidence that restaurants are raising menu prices to help offset higher labor costs. Many operators revamped their labor models, simplified menus to lower complexity and reduce waste, and are using technology, such as self-serve kiosks, to become more efficient during lockdowns. The State of Gift Cards.

2021

EATER

JULY 6, 2022

While staff did work with local, seasonal, unique ingredients, servers and cooks alike say they grew uncomfortable telling stories about some of the restaurant’s sourcing and preparation practices, including for a number of its signature dishes, which they considered misleading. Obviously we were buying more locally than most do,” Teall says.

Compost