Horizon Hospitality Associates, Inc’s Post

How to measure your effectiveness of food cost control in restaurant?  Food Cost Percentage: · Calculate the percentage of total revenue that is spent on food costs. · Formula: Food Cost / Total Revenue x 100 · This is a primary metric to track food cost control. Aim for a food cost percentage between 28-35%.  Inventory Turnover Ratio: · Measures how quickly the restaurant's inventory is used and replenished. · Formula: Cost of Goods Sold / Average Inventory · A higher turnover ratio indicates better inventory management and control.  Variance Analysis: · Compare actual food costs to budgeted or theoretical food costs. · Investigate any significant variances to identify opportunities for improvement. · Variances can be due to factors like portion sizes, waste, supplier pricing, etc. Recipe and Portion Control: · Ensure standardized recipes are followed to maintain consistent food costs. · Monitor portion sizes served to customers to avoid over-portioning. · Conduct periodic audits of actual portions vs. standard portions.  Vendor Price Tracking: · Monitor and negotiate prices with suppliers to get the best deals on food items. · Track pricing trends over time to identify opportunities for cost savings. Waste Tracking: · Quantify food waste at various stages (prep, cooking, serving) to pinpoint problem areas. · Implement processes to minimize waste, such as better inventory management or staff training. Labor Costs: · Monitor labor costs as a percentage of total revenue. · High labor costs can impact overall profitability and food cost control. Consistently tracking and analyzing these food cost control metrics will help restaurant operators identify areas for improvement and make data-driven decisions to optimize food costs. #food cost #hospitality #high labor #hiring #turkey fc #Monitor #price #Analysis #Inventory #restaurant #netherlands#Recipe #Portion #Control #cooking #serving #revenue #percentage #opportunities #customers #effectiveness #training #hospitality.

In the realm of culinary culture, the American appetite is ever-changing. From home-cooked meals to dining out, our preferences shape not only our food choices but also the economy. Recent data reveals a notable shift in consumer behavior: U.S. consumers now allocate only 30% of their monthly food budgets to restaurants, down from 40% just two years ago. Check out this article from Nation's Restaurant News discussing how U.S. consumers are allocating a smaller portion of their food budgets to restaurants as the landscape of the food industry continues to evolve. While economic factors, health consciousness, and changing social norms contribute to this shift, one thing remains clear, the way we eat is transforming. 

Bidfood UK has revealed what it predicts will be the biggest food and drink trends within foodservice next year, and in order to support the industry in navigating this it has released an interactive guide to help operators make informed product choices that they can apply straight to their menus. https://lnkd.in/eQmwQqpS

With "away from home" food pricing outpacing prices at the grocery store and overall inflation, it's a crucial time for restaurants to be showing their guests value on the plate. Thinking about lower cost items with higher perceived value... maybe offer, for example, a breaded pork cutlet instead of a bone-in pork chop. Also, great hospitality and service could be the tipping point (no pun intended) for guests to walk away thinking their experience was "worth it". It's time to double down on training and deliver exceptional service and quality to keep restaurant diners coming back for seconds. Nice article below with some supporting data from the always insightful, Jonathan Maze.

As seasons change, so does your restaurant's budget. Explore how Food Price Comparison Tools can help improve your food costs. #foodandbeverageindustry #chefstalk #foodbusiness https://lnkd.in/ey8UrFFr

Unilever Food Solutions (UFS) has released the Future Menus Top North America Trends 2024 report, highlighting key menu trends predicted to influence the restaurant industry in the coming years. Unilever Food Solutions Unilever Brandon Collins #futuremenus #FutureMenus2024 #TopNorthAmericaTrends2024report #lowwastemenu #foodserviceindustry

Do you monitor menuing trends? Following consumer preferences can make all the difference in your restaurant's popularity. 🍽 Foodbuy Foodservice offers strategies on monitoring food purchasing trends. Read it all below ⤵ https://lnkd.in/gkE7VsB3 #dataanalytics #foodtrends #trendanalysis

Running a Successful Restaurant: It’s About More than Just Great Food! 🏆 🍽️ Choosing the Right Partners At the heart of every successful restaurant is not just the art of creating delicious meals but also the science of partnering with the right suppliers. Quality ingredients and smooth operations are key! 🔍 Navigating Supplier Selection In our latest article, we dive into the essential process of selecting food suppliers for the restaurant industry. We cover: Key Criteria: What to look for in a supplier. Digital Solutions: How technology can streamline your procurement process. 👉 Click here to read our full article and enhance your restaurant's procurement process! 🔽 English article: https://lnkd.in/dRvCr_xe German article: https://lnkd.in/dfnz4naj

93 Restaurant Industry Statistics Every Food Service Operator Needs to Know in 2024 2023 has been a challenging year for restaurant operators, caught as they were between rising food costs and labour shortages. To give you the full picture of the positives and negatives of what lies ahead for 2024, we combed through dozens of recent industry reports and compiled a list of 93 restaurant industry statistics. At first glance, some stats might seem to contradict each other. Often, this is because the people surveyed vary in age and location. Remember, statistics can both confirm our existing beliefs and challenge them. So, we invite you to not just take these numbers at face value but to really dig into the details for a fuller picture. We have divided the list into 14 sections, the first one being a bonus: 1 Our Top 10 2 Restaurant Growth 3 Restaurant Costs 4 Menu Pricing & Engineering 5 Procurement & Inventory 6 Restaurant Sales & Revenue 7 Delivery Statistics 8 Food Waste  9 Technology Statistics 10 Customer Attitudes 11 Restaurant Marketing  12 Social Media  13 Restaurant Franchising  14 Labour Statistics These food service statistics will help you keep ahead of industry trends and guide your decision-making in 2024. Let’s dig in.

Food cost calculators are like a financial compass, guiding smart spending and menu decisions in a competitive industry with tight margins. You track your total sales, but without knowing your food cost percentage, you have no idea how much of that money goes straight to buying ingredients. Are those mouthwatering dishes secretly draining your profits? Find out how to calculate your food costs to make higher profits for your restaurant or F&B outlet.