As catering managers, it’s essential to make sure the budget doesn’t go to waste and that you know how to manage it correctly. Budgeting is never an easy task, especially when it comes to managing a yearly college catering budget. The inevitable struggle always seems to be that you require a lot of equipment and don’t have the necessary funds to obtain it. The key to managing a budget efficiently is finding the best catering equipment on the market. That way, you can ensure that your products will stand the test of time and ultimately help preserve your budget in the years to come.
The Facts
When determining how to allocate your budget, it’s always wise to look at some of the facts. Naturally, for a college catering budget, that means researching the dining habits of students today.
– Students Love to Eat
WUNiDAYS, a global student affinity network, was researched in 2017 that polled 4,200 students. Not surprisingly, their studies showed that students love to eat. But just how much are students spending on meals? Second to tuition and bills, a whopping 71% of students claimed to spend most of their money on food. Colleges need to ensure a catering budget that allows dining options to entice students to stay on campus for their meals. The alternative, going off-campus for dining, would be a potential loss for the campus. Therefore, the struggle for managing the college catering budget becomes how to maximize the experience without pushing the costs out of line for the school or the students.
Colleges need to ensure a catering budget that allows dining options to entice students to stay on campus for their meals. The alternative, going off-campus for dining, would be a potential loss for the campus. Therefore, the struggle for managing the college catering budget becomes how to maximize the experience without pushing the costs out of line for the school or the students.
– Penny Pinching Time
Not surprisingly, financial times are tough on colleges, which means it goes back to being extremely cost-conscious. This shift in the dynamic is forcing colleges to look at their catering budgets all the way through to determine how to meet the demands while keeping costs at a minimum.
The Latest Catering Trends
To keep the students interested, you have to keep on top of the current catering trends. Here are some of the latest we’ve found from college students today.
1. More Than a Quick Bite
Dining options for college students today need to be more than a quick bite. Rather than looking for nourishment, students are also looking for an experience like one they would indeed find in off-campus establishments.
2. Payment Technology
In keeping up with technology, payment options need to keep up with what’s easiest for students. The latest payment technology includes cashless payments, which have become increasingly popular due to COVID.
3. Options Over Everything
Having options is critical to keeping students’ interests piqued, and without them, students will undoubtedly turn to the countless opportunities available to them through mobile ordering apps, delivery, etc.
The popularity of street food is another big-ticket item. College campuses that have figured out a way to integrate this dining style will continue to see success in their food and beverage profits.
Managing Your Budget Effectively
Managing your budget effectively comes down to several different attributes, but here are some crucial ones.
– Negotiate
One thing that tends to get overlooked is the ability to negotiate budgets. Prices are rarely set in stone, and this applies to most areas such as venues and catering. You always have the option to negotiate with suppliers. After all, what damage could be done? The ideal situation is a win-win solution. If you try, you might be pleasantly surprised with your results.
-Design Clever Menus
Another aspect of managing your budget is being strategic with your menu design. While the flashy menu items might catch attention, you should always consider the source and season first. Local and in-season ingredients tend to be more reasonably priced than imported, out-of-season ingredients. Best of all, these local ingredients are much more likely to taste fresher and better.
– Have the Best Catering Equipment
To help cut catering department costs, you might always want to look into purchasing versus renting equipment. If you’re looking to buy, you always want to make sure you invest in top-quality catering equipment. That way, you won’t need to rent expensive serving solutions every season.
Some equipment you might want to consider purchasing may include:
Long-lasting, high-quality items will help you in the long run. You can build your collection slowly and add pieces whenever your budget allows.
Managing a catering budget is no simple task, but these are tips that can help. Ultimately, deciding to purchase catering equipment versus renting can help reduce costs significantly. If you’re looking for the best catering equipment on the market, turn to Rosseto, which has durable, high-quality products that will save your company money in the long run.
