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Want simple solutions to reduce food costs in your restaurant? Download my free report: https://www.davidscottpeters.com/pl/95588
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Welcome to my YouTube channel. I'm David Scott Peters, a restaurant coach and speaker who teaches restaurateurs how to cut costs and increase profits with my trademark Restaurant Prosperity formula. Known as The Restaurant Industry Expert, I apply my no-BS style to teach and motivate restaurateurs to take control of their business and finally realize their full potential. Thousands of restaurants have used my formula to transform their businesses. To learn more about me and the online coaching I offer, visit http://www.davidscottpeters.com.
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About menu design and engineering…
Your menu is essential to the success of your restaurant. In fact, if you can control your menu, you can adjust the cost of goods sold without sacrificing customer satisfaction, without reducing the quality of the products you serve, without increasing your prices. But there are a few things you need to put in place to adjust your menu to reduce the cost of goods sold.
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How to make menu engineering work
For your menu engineering to be effective, you must put two elements in place:
Number one is accurate revenue cost maps. They must be up to date in terms of prices, ingredients, measurements and servings. You can do these by hand, in a spreadsheet, or in fancy software (software is great because it automates the process and ensures your recipe cost sheets are accurate – but it doesn't have to be), Accurate recipe cost sheets are essential to menu design. Without them, you're wasting your bottom line in favor of what I call dumb luck. If you don't have recipe cost sheets, you don't really know what items you should market, and you could lose money faster instead of making more.
Next, you need to use your POS system's product mix report. This is also known as the Daily Sales Report, PMIX Report, Velocity Report, and Item-by-Item Sales Report – whatever you call it. Every item you sell daily is listed in this report. When you have this information – what you sold, how much you sold, and what you sold it for – you can determine your ideal food cost. This is the cost of food you would have if you had no waste, no theft, no spoilage, a perfect restaurant. Your ideal food cost is a key element in managing your budget, your orders, your profits.
If you have this data, you can impact your results by 3 to 7 percentage points the first time you do it. It's with the same items and the same customers. Indeed, you would know where to raise prices and where not to, where to put items on your menu to increase their sales and your cash contribution, if you understood which images to include or which items to box for emphasis , you can take control. of your company.
Pro Tip: Once you have these two elements in place: recipe cost sheets and your PMIX report, you should find a professional to help you with your menu design fixes. And look for a company that uses data, such as that from your PMIX report, to guide the menu engineering process and final design. Avoid the company that asks you what your most lucrative items are – that's not menu engineering.
You can use menu engineering to improve your results.
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