I am sure you’ve been told you need to calculate your food cost. Heck, you’ve probably heard from several experts that your food cost target is a 34% food cost, or that you’re supposed to mark up each of your food items on your menu 3 times. Well, neither of these methods are correct. Flush them from your mind because they are total BS. In this episode of The Restaurant Prosperity Formula, I will explain why those approaches are wrong and why it’s important to know your food cost. I’ll also explain what you should be doing to calculate your food cost, including the three food cost calculations you must know to control your food cost: budgeted food cost, actual food cost and ideal food cost. You’ll learn how comparing all three of these numbers will allow you, for the first time in your restaurant life, to gain valuable insights into your menu that will allow you to virtually unlock your profit potential. Listen now to unlock your restaurant’s profits with the three food cost calculations.
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