If you serve avocado on your menu, you’re well aware of the rollercoaster ride it has been taking lately with regard to supply and demand. According to a USA Today report, the price of avocados in early July had skyrocketed 129 percent since the same period during the previous year. While restaurants are making adjustments such as diversifying suppliers, raising prices and finding substitutes for the beloved avocado where possible, these are steps that should be taken not just when one key ingredient is in short supply but across the spectrum of a restaurant’s inventory year round. When you monitor your inventory more closely – even in times of plenty – you can more easily ride out times of scarcity. MarketMan suggests you take such steps as tracking food costs throughout the year so you’re more able to spot seasonal fluctuations in price, as well as what you have paid historically. (Team Four can help you with this.) Where possible, fill your menu with seasonal produce to minimize costs – it will also encourage guests to visit you while a favorite item is still available or when a new one is about to be featured on the menu. Partner with your chef to make sure he or she is able to use what’s in season and can minimize costly extras. When it comes to suppliers, try to lock in prices for the long term and don’t hesitate to shop around for better deals when it’s time to renew your contracts. Look around for deals online, particularly for non-perishable items that can be purchased in bulk. Monitor your spending regularly using software with purchasing and ordering management features that can help you stay on top of price fluctuations.
If the restaurant tech landscape doesn’t quite working for your business yet, just wait five minutes and you’re likely to find technology that does. One possible example is the recent partnership of Waitbusters and Postmates. Waitbusters started out as a tech company aiming at eliminating wait times at restaurants but it is now evolving in an effort to work with restaurants that don’t want to hire delivery drivers and also don’t want to pay the high fees charged by many third-party delivery providers. It has integrated its Digital Diner software platform with Postmates and allows operators to turn on the Postmates delivery function when they need it and turn it off when they don’t. This helps eliminate the costs of using an entire third-party delivery platform while giving operators access to off-premise options they may need.
What’s your challenge? Whether you need help developing recipes and concepts, analyzing food costs, fine-tuning purchasing, planning a marketing campaign or managing another aspect of your business, we can provide guidance tailored to your needs. Contact Team Four at email@example.com or 888-891-3103 for more information.
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Food For Thought And Profit is brought to you by Team Four Foodservice/Value 4. We offer the latest foodservice trends, news, safety, and technological advances in the industry. We are an outsourced purchasing and logistics company that provides comprehensive supply chain solutions to our customers. Our executive team has many years of foodservice experience and we bring that experience to work for you. We have expertise in all areas of the foodservice sector.