Calculating your food costing on a per plate basis is essential to establishing consistent profitability and guarantee the success of your restaurant. There are numerous factors to consider when calculating those costs; do you include the complimentary bread and butter on the tables? What about the cost of the frying oil and liqueur used in the kitchen? These can be difficult figures to calculate, but they are essential to ensuring you are setting your prices at a fair ratio for profitability.
A restaurant inventory management software, like Optimum Control, allows you to better identify recipe costing, allowing you to ensure the best pricing models for your restaurant. A restaurant management software will help you better determine and manage the following factors, critical in your budget.
Determine the Exact Cost of Menu Items
By breaking down how much your restaurant is spending on the full cases, to the prep/batch, to the plate, you will be able to get a better handle on your inventory and boost the profitability of your business.
Calculate Effective Selling Price
Determining what each plate is costing your business will help you set reasonable prices to keep you and your customers happy. Based on a concrete target cost percentage, a hospitality management solution software will help you calculate your selling price and determine the expected yield of each batch recipe.
Record Detailed Preparation Instructions for Consistency
To ensure your recipe is made the same way every time, include detailed preparation instructions along with pictures of the recipe in the database that is accessible to all kitchen staff. That way, you will not only save money on wasted food items, but also achieve consistency for taste and presentation that will keep your guests coming back for more.
Based on your preferences recipe details, costs will be updated automatically as ingredient prices change. When the price of vegetables and other ingredients go up, you will be notified. This will allow you to get a better idea of any consistent growth in cost pattern developments which will help you make decisions based on your menu items, suppliers or seasonal costs of certain dishes.
Optimum Control’s full inventory management software solution combines the simplicity of managing recipe costs in a spreadsheet with the genius of a fully-integrated and mobile solution. It provides you with a complete and accurate view of your overall menu cost and a break down into all components of each dish, empowering you to determine cost of sales with ease. Learn more about Optimum Control, TracRite Software’s complete restaurant inventory management solution for the hospitality industry!