Posted by
Melanie Trainor
Plan Your Menu for High Profit Potential
Running a successful dining establishment can be complex. All too often the development and preservation of the ambiance, flavors and experience for guests can overshadow the meticulous task of food cost analysis.
A review of the amount of ingredients being used and wasted can have a positive impact on the bottom line.
Restaurateurs benefit from creating a menu strategy with a greater return on investment while still offering flavorful and well-portioned food and beverages.
Stay on track when creating a revenue maximizing menu with these helpful tips.
Planning and Tracking
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Define your budget and develop a set plan for allotting purchases for each area of your business
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Precisely monitor purchases, payments, sales and keep real-time inventory records
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Consider what is achievable and sustainable for your operation given your equipment, facility, location, budget and the experience of your staff
Menu Selections
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Many restaurants thrive by offering limited options, often resulting in less food waste and simplified orders
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Studies point to a phenomenon called “choice paralysis” where too much variety can reduce guest satisfaction
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Maintain a universal vision of your restaurant when constructing your menu. The meals and cocktails should reflect the atmosphere and image of your business
Know When to Change
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Periodically review your meal options to remove less favorable items. Make changes based on current flavor trends, ingredients cost, labor expenses and staff capabilities
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The average restaurant changes their menu twice a year, but it may be best to revise it more often, such as seasonally
Having a comprehensive view of your business and menu will serve as a guide to optimize your operation with profit in mind.