Running a restaurant, café, or food outlet can be a real challenge. With energy prices rising and supplies becoming increasingly expensive, it’s vital for food businesses to take a look at the various ways in which they can increase their profits.
We’ve put together a list of strategies to consider to help you boost your income and improve your chance of success:
1. Cut down on food waste: One way to increase your profits is to reduce food waste. Better inventory control will help you to do this. Work out how much food you need to keep up with demand, plus a small margin for error. Keeping track of past sales will help you to do this, as you’ll ascertain which meals are most popular, and which ones you can afford to limit ordering for. Additionally, keep an eye on portion control. Are plates coming back half full? If so, you may need to cut down on the amount of food you’re sending out on each plate.
2. Review staff spending: There are multiple ways to reduce staff costs, but one of the best ways to achieve this is to limit staff turnover, as recruitment costs are often high. To do this, you’ll need to implement staff retention incentives, such as reward programs and staff benefits. These needn’t be expensive, but enough to demonstrate to your employees that they’re valued, which will in turn encourage staff loyalty.
3. Diversify revenue streams: Look into ways that you can expand your business to increase revenue streams. For example, this might mean starting a food home-delivery service. To do this, you could partner with a delivery company such as Deliveroo, Just Eat, or Uber Eats.
To limit overheads with home delivery, invest in high-quality and affordable packaging. Here at PackGenie, we have all the take-away packaging solutions you need to ensure your delivery service is a success. Reach out to a member of our friendly sales team, by getting in touch via email or telephone.
4. Lower utility bills: The increasing overheads caused by rising energy costs can be mitigated by investing in more eco-friendly kitchen appliances, lightbulbs, and heating systems. Additionally, when your current energy contract expires, shop around for the best deal, rather than simply renewing your existing contact. This will help you to cut down on utility costs, and boost your bottom line.
Tags: take-away packaging, home-delivery service, boost profits for your food business