Controlling costs- 6 Pieces Of The Pie..Leeding Investments
January 24th, 2018 / Industry Insights / 2
Ever had that sensation where the till is ticking over but your profit seems to stagnate. You can feel that you are busier, customer numbers are growing or your takeaway trade is reaching new levels but its not reflecting in your bottom line?
This is the case for a lot of small businesses who are unaware of how to correctly construct their menu offering. Creating an amazing dish comes at a cost. Not just from the ingredients that are use but elements such as labour, customer retention & training. Just as you planned and mapped out your business with a vision, financials, marketing & staffing, we need to have the same methodology and precision when it comes to menu construction. Our “6 pieces of the pie” is a great place to start when developing a menu.
1st Piece- Flavour Profile: This is where the creativity for your menu development starts. Once your vision has been cemented, we can begin work on developing the dishes that will best represent the offering. Step 1 is is focused on developing the flavours of your dishes and what products are going to shape your menu. Ensure the dishes reflect your brand and source produce that will enhance it. A great tip is to do a menu tasing with a select group (Staff, colleagues, friends) to receive adequate feedback on your menu and more importantly the flavour profile of your dishes.
2nd Piece- Dish Costing: This is one of the most important steps and surprisingly one that many operators over look. Accurate costing and portion control of every dish and every recipe that constructs these dishes will ensure that your COGS margin is maintained and value for money to the customer is being achieved. We also need to be aware of the labour cost involved in preparing the menu offerings as well as execution.
3rd Piece- Plating: “We eat with our eyes”… Deciding on what plates to use and how to present your dishes will define and strengthen your offering to your customers. Every dish has a purpose on your menu which means your plating also needs to have a well thought out purpose. How do you want your customers to feel when they experience your dishes? Does the plating represent your brand? Are you over complicating the dish by your plating? Ensure there is consistency in your style and your band is being reflected.
4th Piece- Execution: CONSISTENCY is key. No short cuts. From the creating, production and plating of each dish, taking the time to set up process to ensure the execution is the same every time will enhance your offering to your customers.
5th Piece- Value for money: At the end of the day customers will be willing to pay for what they believe is true value. No matter how creative your dishes are or what “special” ingredients you are using, implementing a pricing strategy will help grow your margin and capture repeat patronage. Over pricing or under pricing will have a serious impact on how customers perceive your offering and shape their expectations. Ensure you take the time to get this right!
6th Piece- Staff Education: Chefs produce the menu, but someone needs to sell it. Extensive training of your FOH staff will ensure they have the confidence in selling the menu to the customers. Training on the other 5 pieces will ensure your staff have the necessary knowledge to guide the customers through your menu and answer any questions they may have. Service will become more efficient, professional and engaging.
By rolling out a well constructed menu, you are giving your business the opportunity to capitalise on that revenue growth.
KEEP IT TIGHT
Article source… https://www.leedinginvestments.com/blog/2018/1/5/cost-control-6-pieces-of-the-pie