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
Define your budget and develop a set plan for allotting purchases for each area of your business
Precisely monitor purchases, payments, sales and keep real-time inventory records
Consider what is achievable and sustainable for your operation given your equipment, facility, location, budget and the experience of your staff
Many restaurants thrive by offering limited options, often resulting in less food waste and simplified orders
Studies point to a phenomenon called “choice paralysis” where too much variety can reduce guest satisfaction
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
Periodically review your meal options to remove less favorable items. Make changes based on current flavor trends, ingredients cost, labor expenses and staff capabilities
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.