It is a hard time for restaurant owners everywhere. Many may be facing dwindling profit margins with takeaways and delivery and a decrease in ordering overall. It might be time to review processes and determine how your restaurant can make cost adjustments to increase profits. With a few tips and by utilising the Date Code Genie® automated labelling system, you will have a restaurant that is running more efficiently in no time.
Throwing out food is like tossing money in the trash bin. Product Control Tracking is a software add-on for the Date Code Genie that provides insight into which ingredients you use the most and when. This will help avoid over-ordering products and will streamline the food ordering process overall. Food labelling with the Date Code Genie will also improve inventory management, promote food safety and decrease food waste for your operation.
Change Up the Menu
As you use the Product Control Tracking software on your Date Code Genie, also look at your menu. You will begin to understand which items on the menu are not selling well and which are popular with customers. If you are constantly throwing out a particular item because no one is ordering it, it is probably time to take it off the menu.
Determine Your Profit Margin
When is the last time you calculated the profit margin of each item on your menu? Subtract the cost of the ingredients from the amount the menu item is sold for to determine your gross profit. Divide this number by the price the item is sold for to determine your gross profit margin. If the percentage is not between 70-85%, investigate sourcing more affordable ingredients or increasing the price on the dish.
Do you have high turnover rates? That can cut into your profit margin. If staff members are quitting often or you are firing them, review your hiring process. Where can you make changes? You may consider employee incentives to encourage good behaviour and increase retention.
The Date Code Genie is an intuitive automated labelling system that is easy to use, quick to implement and will benefit your operation both now and in the future.