Whether running a chain restaurant or small family-owned establishment, learning how to control costs is vital to the survival of your business. Without the proper planning, your establishment can quickly blow labor hours or waste food irresponsibly. Take control of your operating expenses and maximize your profits with these quick tips:
- Use Food Cost Calculations – Determine the raw cost per plate and menu entrée. These calculations can help you price your menu offerings appropriately and know how much you will profit per plate.
- Reduce Waste & Shrinkage – Use efficient methods to order and secure inventory to prevent products from going to waste or being stolen. To cut food waste, avoid buying perishable items in bulk quantities to prevent spoilage. Plus, when orders are sent back or thrown away track the reason and use this to revamp your practices.
- Schedule Staff Appropriately – Efficiently schedule your staff to ensure that customers are taken care of without blowing your labor budget. Schedule less staff members during slower time periods or after close of business to help minimize your costs.
- Cross-Train Staff Members – Teach your staff members how to run multiple positions to improve their skills and knowledge of your practices. This tactic ensures that your staff is highly-trained, confident in their skills, and can cover any position when needed.