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The Impact of Actual vs. Theoretical Food Cost on Profits

Synergy Suite

With the average food costs in a restaurant typically hovering around 30%, and global food prices rising at nearly 40% year over year , managing food costs is more critical for restaurants than ever. It serves as a benchmark for what the price should be under ideal circumstances, assuming no waste or deviations from portion sizes.

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Prime Costs: Understanding and Application for Restaurants

Synergy Suite

Operating a thriving restaurant involves more than merely presenting delectable dishes and designing a welcoming ambiance. Competitive Edge: In a competitive market, managing prime costs can help you offer competitive prices while maintaining quality and profitability.

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Utilizing Waste and Food Cost Control Data in Restaurants

Synergy Suite

Monitor portion control and inventory to control costs. Through analysis of this data, establishments can pinpoint opportunities for cost optimization, whether through ingredient substitutions, portion adjustments, or strategic pricing. Keep an eye on food waste and implement strategies to reduce it.

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Gross Profit Margin: A Guide for Restaurants

Synergy Suite

Analyze the gross profit margin to understand how efficiently you’re managing costs and pricing your menu items. Gross profit is a critical indicator of the core profitability of a restaurant’s menu items, reflecting how efficiently it manages costs and pricing.

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Understanding Inventory Variance: Why It’s Important for Restaurants

Synergy Suite

Portion Control Issues Inconsistent portion control during food preparation can also lead to inventory variance. If your chefs and kitchen staff are not following standardized portion sizes, it can result in overuse of ingredients and increased food costs.

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MRM Research Roundup: Mid-December 2020 Edition

Modern Restaurant Management

Considering that restaurant food sentiment is improving among guests, an opportunity is presented to explore their favorite menu items. The price to purchase a hamburger cooking robot is about $60,000. Furthermore, intent to return scores are almost at the levels they were immediately before the virus outbreak back in March.

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COGS: Cost of Goods Sold Considerations for Your Restaurant Business

Synergy Suite

A high COGS percentage signals that a significant portion of revenue is channeled towards covering production costs, potentially impacting overall profitability. Understanding these trends can help you make informed decisions about pricing, menu adjustments, and inventory management.

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