RECIPES FOR SUCCESS
“Cutting Food Costs”
The restaurant industry, no different than many other industries, is hurting as a result of the recession and feels a decline in sales. In order to survive it has become clear that restaurateurs must cut food costs as well as look at new programs that will bring in more revenue.
Having worked with many top restaurateurs in New York City, one of the most frequent issues I’ve dealt with was telling them to cut food costs. Cutting food costs is one of the most important ways a restaurateur can make his/her business more profitable. Here are some suggestions you should do to cut costs:
- Measure it: You can’t control what you don’t measure
- Shop Around & Keep You Finger of the Pulse of Market Prices: Build a relationship with your suppliers, however it’s advisable to compare prices with competitors.
- In-House Preparations: Prepare food in-house rather than purchase pre-prepared ingredients.
- Monitor Waste: Remember you can’t control what you don’t measure.
- Portion control: Document standard recipes and measure out portions prior to service.
- Stock Rotation: Rotating stock improves quality and consistency of end product and also reduces waste.
- Go Seasonal: There is a greater supply of seasonal products, the demand is met easily thus the price is less.
- Cost It: Costing recipes and menus provides a baseline which you can compare to actual cost.
- Planning: Effective planning can be used to purchase smart and reduce waste.
- Offer Specials: Offering specials adds variety to the menu and can be used to reduce food cost.
