You might dream of opening a restaurant business...but your bank account might puncture those dreams. The reality is: you have no money to start a restaurant. But does that necessarily limit you from doing so?
When it comes to expenses for your restaurant, food cost is probably the category you spend the most on. Without a food cost calculator, you can’t know what each dish is costing you, nor can you accurately calculate what you should charge customers.
The first few months of operations are the most critical for the restaurant startup. With competition fierce — you likely have a handful if not dozens of restaurants located within a few blocks of yours — every decision is important.
If you’re a restaurant manager, you know that the restaurant business comes with its own terminology. Keeping up with restaurant lingo (in both front of house and back of house) makes communication smoother among your staff, which makes your restaurant run more efficiently.
As the owner or manager of your restaurant, your bottom line is constantly on your mind. Every day is a delicate dance between offering the best quality ingredients while minimizing waste and unnecessary expenses.
If you’re opening a new restaurant, you may be at a loss to know what your restaurant menu prices should be. Charge too little, and you risk cutting into your profit too deeply to see any revenue. Charge too much, and patrons won’t order the dishes, and you’ll be left with food waste on your hands.
For a restaurant owner or manager, food costs are the highest and most volatile component to your restaurant budget. When prices for ingredients are low, you’re happy and see a high profit margin on dishes. But when prices are high, they eat into your profitability and may cause your restaurant to suffer.