Top 5 Ways to Save Money in a Food Business
If you’re in the food business, you understand the importance of always serving up the freshest and best quality food available. But at a price that you and your clients can afford. The two concepts do not always seem compatible. However they must fit together if you plan to stay in business for any length of time.
Saving Money in a Food Business
To help with this goal, we have developed the following five ways to help you save money wherever possible in a food business.
While it is true that a caterer’s worst nightmare is running out of food during an event. It is also frightening to have to throw away so much excess. To avoid this, you need to be careful in your measurements and ensure that you are delivering what the client has ordered, but little more.
Do this, and your profits will almost certainly increase. Work hard to get the most out of the ingredients that go into each meal. This will in turn minimise expenses, maximise taste, and enhance the customer’s experience.
Monitor Portion Sizes
No matter if you are offering a fixed menu or a full buffet, you need to work hard to weigh and measure each dish. This will ensure a balanced approach to each portion. Make sure that every guest gets the same cut of meat in order to create a sense of equity.
This will also ensure that you are not undercharging clients for a bigger lobster tail than was ordered. Do this and you will realise enormous savings event after event. If you have a buffet, it is helpful to have your servers do the cutting and presenting of higher priced items, such as seafood and rich meats.
Minimise and Analyse Labour Costs
Not every event requires a heavy serving presence. Keep this in mind when you plan each event. Many small gatherings, such as a board meeting or corporate gathering, do not even require a wait staff to be on hand.
Whatever you can do to minimise your expense in this area will amount to huge savings down the road. This is also an area where you can pass along portions of the savings on to the customer in order to attract some return business.
Invest in Catering Software
While you might not see technology as being very useful in the food business, it most certainly is. New catering software available on the market today allows you to plan meals right down to how much of each ingredient to purchase.
With many fresh ingredients having a limited shelf life, this feature alone can pay enormous dividends immediately upon implementation. Catering software also allows you to pair foods together in order to enhance the menu offerings that you have. And it allows you to streamline accounting and other operational components of the business.
Reconsider Your Buffet-First Mentality
Many caterers throughout the UK have adopted the mind-set that a buffet is the most cost effective way to provide for large events. This type of thinking could be costing you loads of money. With careful portion control, fixed menus can be much more cost effective in many situations.
It does require timing and perhaps more wait staff, but the minimal loss in terms of food can be well worth it in the end. Remember that it is difficult to adequately plan for food amounts when the customer is responsible for dishing out on their own meal. With a fixed wait staff; there is no such worry.
Following these five tips will go a long way towards helping your food business maximise its revenue by minimising waste and excess.