5 Tips to Optimize Your Food and Beverage Costs
In the hospitality industry, food and beverage costs average a whopping 28%-35% of turnover. Finding a way to reduce your food costs is serious business. After all, it affects your bottom line big time. The restaurant industry is known for being highly competitive. As such, the fundamental concept of dividing the average check by food purchases isn’t enough anymore. Understanding how to calculate food costs accurately is essential in order to be able to keep food and beverage costs down.
In this article, we’ll provide you with five tips to optimize your food and beverage costs.
Food and Beverage Costs vs. Quality
The goal of any food and beverage manager or directorsis to optimize costs without compromising quality. While managing food and beverage costs is not easy, you can learn how to maximize your budget yourself if you are willing to get organized.
5 Tips to Optimize Your Food and Beverage Costs
To optimize your food and beverage costs effectively, you must take the time to get organized and collect all of our businesses’ information. Then, you can begin by following these five tips.
1. Know What You Are Spending
The first step in getting organized is to thoroughly understand what you are spending your money on. To calculate any of your food costs, you’re going to have to take some time to do a deep dive into your current spending habits.
Knowing what you are spending is a two-fold process. Not only does it require retrospective analysis, but it will also help you keep your purchases focused in the future. Before purchasing new food service equipment, make sure you know where your money is going. Since foodservice equipment can take up a large portion of your budget, you want to make sure that the products you are buying are aesthetically pleasing and long-lasting.
Rosseto is an industry leader providing safe and effective food service equipment across the country. Best of all, you can stay within budget by choosing Rosseto equipment. Knowing where your money is going will ultimately help you optimize your food and beverage costs.
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2. Prioritize Portion Control
Food and beverage waste is another way to watch your budget go down the drain. Instead, be one step ahead of the game by prioritizing your portion control.
There are several different options to help you provide portion control in a self-serve setting without your guests feeling like they are being overly controlled. For example, Rosseto’s touchless beverage dispensers help to provide an aesthetically pleasing option to any catering display.
Other portion control products include items such as:
For a more elaborate display, check out the Rosseto Gondola Systems, which provide countless configurations and options for self-serve toppings options.
3. Minimize Food Waste
As previously mentioned, food waste is a significant problem to the bottom line of any food and beverage budget’s bottom line. Up to an astonishing 40% of the food produced in the country is wasted, according to studies released by the Natural Resources Defense Council.
To minimize food waste from a food and beverage costs perspective, Rosseto is working to create zero waste grocery stores.
4. Love Your Supplier
It’s crucial to find a supplier that you love. You can work with your suppliers to lower your food and beverage costs once you know how much food your restaurant uses at a given time. Shop around and see what competing suppliers are willing to offer you and ask them for a discount or match prices with their competitors.
5. Keep Your Menus Focused
Once you have established your menu, regularly review it to ensure you are keeping your pricing profitable. Fluctuating ingredient costs make margins vulnerable, even though it’s tempting to ignore pricing until you’re ready for a significant menu refresh.
Final Thoughts
Your solution to managing your food and beverage costs does not require compromising on quality. Optimize costs with confidence with the help of industry leader Rosseto, including high-quality and affordable foodservice products. Rosseto allows you to prioritize food service while providing an enjoyable dining experience for your guests and staff.
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