A specific time frame to investigate, say week 34.You’ll never have to write of unused stock again.Īnyway, back to food costing, to determine your actual food cost, you need to know five things: The software generates procurement suggestions and lets you send out orders directly to your favourite suppliers. It lets you count stock digitally, integrates with your point-of-sales-system (POS) and automatically adjusts stock status and value. If you are keen on saving time for your team and yourself, check our inventory module. Stock counts can be done on a tablet so data won’t get lost. It’s time-consuming, you need to do it often to extract extra juicy insights, and it’s a headache to streamline the data from the different counts. There are many ways to go about them and quite frankly, most are tedious at best. If you ever spot the abbreviation CoGS, you’ll know what it stands for.Ĭalculating your actual food cost requires accurate stock counts. It means the same thing but also applies to other industries than the restaurant business. In other words, it is the depletion of inventory set against its value in money.Īn accountant or controller might use the term ‘ cost of goods sold‘. The actual food cost is the value by which your stock decreases over a given period. There are four main calculations to stay on top of:Ĭomparing these figures will help you adjust workflows and maximise profitability.įirst of, actual food cost. To make sure your business stays afloat, regular and accurate calculations of food costs are a must. Even the smallest reduction of food cost percentage has a big impact on profit. Nope, think about it, next to labour costs and rent, food costs are the highest expense of every food business. Yep, that’s right: profit grows by a whopping 58,5%.
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