When considering the waste of restaurants and bars, nothing compares to the amount of food waste that these establishments contribute to. With a recent statistic from the POS supplier Toast indicating that nearly every year these restaurants and bars waste upwards of $2 billion per year as a result of wasted food. Leaving restaurants in the country wondering, how can we manage this problem in a more sustainable way? The only place to start is to determine the amount of food being wasted at your establishment. This is done through a food cost formula. By taking the total cost of ingredients and dividing it by the menu item price, you’re left with a food cost percentage. With this percentage, restaurants are better able to estimate if a menu item deserves its spot on a menu. There’s a lot more to consider than just the percentage, though. Procuring the ingredients necessary to maintain a particular menu item, for example, must also be considered. Even if the costs are low, if there’s consistent trouble or inability to obtain a particular ingredient on time, it might be worth removing a dish from the menu. When restaurants make these considerations, they’re able to reign in their food cost and better optimize their inventories. When restaurants have better control over their inventory management, they’re more likely to be able to save money. For more information on the ways in which restaurants are cutting costs and finding additional success in their markets, take a moment to check out the infographic accompanying this post.
Unique Money-Saving Restaurant Tips this infographic was contributed by Portabull Storage, a premier lender of industry proven diesel reefer