The life blood of your business is your inventory. It is not your location, although that is important, or your Chef, who will supply you with return customers, or the friendly, efficient, and non intrusive service, which will be one of many memories that your guests will take with them. All of these aspects are important and necessary, but not the key to operating a successful food business.
Any deficiencies in the control of your inventory can lead to slowly losing your profits and, in time, your business. We can identify and show how to monitor the critical control points of your inventory flow. From the time it is received, to the time it is used for service. This will lead to a growth of your profit margin with a correlation tied to a decrease in spending, and reduction in waste. Sounds very easy…..right?
The oldest war story that any restaurant owner hears tells of a place that opens, is busy for breakfast, lunch, and dinner, open one year, and folds. It is real, it has happened,it will keep happening.
The way to stop that from happening is to know where your money is at all times. Your money is your inventory and the labor needed to process it. It is so easy to lose profits, and never know how or why. Sometimes a business owner never knows, because the potential profit that could have been attained was never visible.
This starts with the goods that you buy.
Sound inventory practices are also essential when reconciling a P & L statement whether by the month, quarter, or year.