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Do you know what it costs to put a plate of food in front of a customer? Here's why we need to understand and how a restaurant can control their rising food costs! https://lnkd.in/dxyzXs3R #FoodCostMustFall #restaurants #throwbackthursday #pointofsale

Did your catering outlets operate during lockdown, selling ciders and Perrys (pear ciders)? There might be an opportunity for you to claim a VAT refund for the period between July 2020 to 31 March 2022! The reduced VAT rate applied to food and non-alcoholic beverages sold for on-premises consumption, like in restaurants, cafes, and pubs. Here are the rates: 🍐 5% from 15 July 2020 to 30 September 2021 🍏 12.5% from 1 October 2021 to 31 March 2022 What does this mean for you? If you sold these drinks during lockdown, you might be entitled to a refund claim equal to the difference between 20% and either 5% or 12.5%. To make a claim, you will need to show that you sold these items and charged 20% VAT. If this affects your business please get in touch with us for advice on 0800 298 3899. #VATRefund #CateringBusiness #LockdownOpportunity

You may ask yourself, should I run that special? Many restaurants decide to run a special before calculating how it will impact their bottom line and Gross Profit Margin. Although specials will absolutely increase your turnover, it is important to make sure that you still make sufficient profit on these sales. Often giving away an item with a low food cost but high perceived value like a dessert or a drink when a customer purchases a high-margin, high-ticket price item like a burger works well. Want advice on specials ‘Best Practice’? We are here to help. Register with Fynbos and enjoy our Premium Service for yourself 👉https://bit.ly/3Llkq1g #fynbosaccounting #accounting #accountingservices #accountinglife #accountingsoftware #xero #dext #simplepay #accountingsystem #accountingandfinance #accountingfirm #accountinghub #accountingsolutions #capetownbusiness #SME #supportlocal #foodandbeverage #hospitality 

On April 27, 2024, the Official Gazette published the Value Added Tax (VAT) General Application Communique (No. 51), which clarifies the VAT rates for food and beverage services provided by cafes, restaurants, and similar establishments in Turkey, effective May 1, 2024. The communique makes it clear that all sales of food items, whether prepared on-site or sourced externally, will be subject to a 10% VAT rate, regardless of whether the items are consumed on the premises or taken away. Examples: 1. A coffee shop that sells cakes from another business will charge 10% VAT on all sales, including coffee and cakes, for both dine-in and takeaway orders. 2. A restaurant will charge 10% VAT on meals served to dine-in customers and any additional takeout items like desserts. 3. A bakery will charge 10% VAT on a birthday cake prepared for pickup, as well as any additional purchased items like cookies and lemonade. 4. A beach kiosk without a formal food service license but providing seating areas will charge 10% VAT on all food and drink items sold, including both prepared and ready-made products. The new communique emphasizes that all forms of sales by these establishments, including deliveries and takeout orders placed by phone or online, are subject to these updated VAT guidelines.

I've gotten used to constant requests for tips when paying any kind of service bill, and I've gotten used to an extra service charge when you use a credit card to purchase something. But now there's something new. Recently at restaurants I have noticed a new line item on the checks: "Service Charge." At the latest place, it was noted in very small print on the menu: "We have added a service charge of 3% to cover rising costs." This is an increased cost of a meal, but it's often hidden until after you order, or printed so small you aren't likely to notice it on the menu. I understand costs go up for restaurants; often they are hidden costs that customers would not know about or understand. But if a restaurant needs to increase the prices of its meals to cover its costs, then do it clearly, plainly, and above-board. We have to deal with enough sneaky fees and hidden taxes from every level of government. We don't need them at our local restaurant, as well.

Are you still mad about the price at the pump? What about the price at the DRIVE THROUGH? McDonalds: 1/4 pounder with cheese with medium fry and a tea: $14.65 Chick-fil-A: 12 piece chicken nugget with medium fry and lemonade: $12.19 Chipotle: Steak burrito with queso and an iced tea: $14.79 Imagine trying to feed a family of 4 with those prices! If you are feeling the pinch of your paycheck not going as far (most of us are), this could be a place to look. Over the last 4 years, prices at fast food chains have continued to increase will quality and size has remained the same or decreased. When I speak with members, the number 1 factor when it comes to eating out is TIME! Here are a few ways to help your dollar stretch more. 🍗 1. Invest in a crockpot! $40 up front, but you can make multiple meals in 1 sitting that will take you the same amount of time to throw together as you wait in the fast food lane as it cooks all day while you're at work. ☎ 2. Call ahead! If you have a favorite restaurant that you know you can turn into another meal or 2 for the same price-you've cut your cost per meal. 📅 3. PLAN! Plan meals around your schedule each week. Get the family together and look at your upcoming week. Susie have soccer on Tuesday and Billy has a baseball tournament on Saturday?-->prepare snacks and sandwiches that can be brought to hold over the whole family to be able to make it to dinner at home. What are your go-to's strategies to curb spending on eating out? #empeoplecu #financialfreedom

Craving some Chick-fil-A? It will cost you 21% more than it did two years ago, according to new figures. The national chicken restaurant first raised its prices by 15% in 2022, and then in January 2023, the chain's menu-wide prices at more than 3,000 locations increased another 6% as minimum-wage increases and other economic factors came into play, reported Newsweek, citing figures from the food business blog Food Truck Empire. MORE: https://bit.ly/48K22eC

$22 Burrito? ¡Dios mío! 🌯💰Gourmet Mexican restaurant owner says he has to raise prices just to break even. A restaurant in San Francisco’s Mission District is catching attention online after recently bumping the price of its signature burrito from $11 to $22. The owner of La Vaca Birria says it’s not an attempt to make more money, but an attempt to continue to break even as prices for everything rise. For the last two years, he has operated the spot -- built out of a former record store in the Mission. His vision has been to make the kind of food his aunts, uncles and mother used to make — but kicked up a notch. The only problem is, the price of nearly everything he uses to make his food has gone up. Like onions for example. “Before C*VID, they were like $9 a sack at Restaurant Depot, I used to pick them up. During C*VID, it was $40 dollars. Right now, it’s $80,” said Lopez. Their signature burrito is the most popular and nearly every ingredient that goes into it has doubled in cost. That’s the reason the owner said its price has, too. In fact, the latest Consumer Price Index shows prices for food, gas and housing all rose last month nationwide. And for regulars who have decided to cut back, Lopez said, “It’s either that or keep the price the same, don’t make any money and we close our doors at one point.” #inflation #manufacturing #supplychain

Is surge pricing meant to “help” the average American or simply improve their bottom line? After Uber, the fast food restaurant The Wendy's Company has become the first to try a new pricing strategy called "surge pricing.” This means that the prices of menu items go up and down based on how busy the restaurant is. Wendy's invested a significant amount of money - 20 to 30 million dollars, to install new digital menu boards in many of their locations to facilitate this pricing model. Here's an example of how surge pricing works at Wendy's - 1. On a quiet Tuesday morning with only one car at the drive-thru, a sandwich might cost as little as 99 cents. 2. However, on a busy Thursday afternoon when the restaurant and drive-thru are crowded, that same sandwich could cost $3.99. 3. The price difference, from 99 cents to $3.99, is determined by the higher demand during busier periods. But is it really fair to keep changing prices like this? Wendy's claims that customers have not expressed anger about surge pricing yet. However, the question remains whether it is truly fair to constantly adjust prices in this manner. Some say that surge pricing is an unjust way for the company to extract more money from customers during peak hours. What do you think - Does it truly help customers or just help Wendy's make more money? #pricingstrategy #consumerfairness #fastfoodindustry

Dynamic pricing is good business. When demand goes up, and supply can’t move fast enough to produce more, the price must increase. Amazon and Uber figured out dynamic, or surge pricing, eons ago. It’s time for barbershops and restaurants to follow suits. A local restaurant owner was able to make an additional $1500 per month from dynamic pricing on his burgers using technology called Juicier. The burger surged from 12 to 18! What do you think about dynamic pricing ?