#47: Use Menu Engineering to Combat Rising Food Costs and Inflation
June 1, 2022 by David Scott Peters
Inflation is hitting home for restaurant owners as the cost of food and other essential products have been on the rise for months.
Across the industry, restaurant owners have been raising prices on the menu just to keep up with this record increase in costs. In fact, since the beginning of 2022, your food costs have risen at such a fast pace that if you haven’t made changes to your menu by now, you've probably lost 1-3 percentage to food costs.
While I have no problem raising prices, especially on your top one, two or three items in each section, it’s getting dangerously close to a point where your guest looks at what they pay for a meal and it doesn't equal the value of what's on the plate. At some point in time, you won’t be able to just keep raising your prices.
What's a restaurant owner to do?
It’s time to use menu engineering and in this episode of “The Restaurant Prosperity Formula,” I’m teaching you how to do it in your restaurant. You’ll have answers to what data and systems you need to get started, the changes that will have the biggest impact, how to decide what to increase prices on and what you need to do personally to make it work.
Menu engineering or re-engineering your menu is one of the biggest strategic planning things you'll ever do as a restaurant owner.
With the right information, you can get ahead of rising food costs and inflation, and shift to the proactive management style you need to be successful.
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