Welcome to My Local Foodie, where we love nothing more than simplifying the minefield that is hospitality so that you can focus on running a successful business. You didn’t fall in love with the food business because of all the numbers and reporting and trying to work out food costing and pricing, you fell in love with it because you have a passion for people and food, so let’s get back to the reason we’re here in the first place.
DEMYSTIFY FOOD COSTING AND PRICING
Food costing is an incredibly important part of your business, but a lot of restaurant and hospitality businesses aren’t even aware of it until it’s too late. Knowing your food cost and selling price might sound like a lot of hard work, but we’ve done everything we can to make this aspect of your business easy so you can stay in the know without getting bogged down in numbers.
BENEFITS OF FOOD COSTING AND PRICING
Food costing not only puts you back in control of your business, but it also creates an awareness of cost so that you can be as profitable as possible. We want you to stop wasting both time and money, and with our innovative systems, it’s now easier than ever. With the market as competitive as it is, you simply cannot escape the need for food costing if you want to thrive in the current climate.
There are three key elements to food costing: price, recipe, and tracking. While the menu prices are ultimately up to you to decide, knowing the accurate COG value will help you make more informed decisions about how you set your prices. We know that you also take into account things such as competitor pricing, but how do you truly know where to set your prices if you don’t know what each plate is costing you?
Knowing what the recipe costs involves a more in-depth analysis of ingredient costs and what you’re being charged by your suppliers. We make sure that you have access to the best quality ingredients from Australia’s finest producers. It’s not about just reducing your current food costs, it’s about awareness and getting the best value for money. The final step is tracking which will give you your food profits based on actual sales and identify your high and low turnover dishes.
HOW TO CALCULATE FOOD COST AND SELLING PRICE
No one goes into the restaurant business because they love math, but it’s undeniably an essential part of running any profitable operation. Let us take the hassle out of food prices and use our cutting-edge system to show you how to calculate food cost and selling price without spending hours on a calculator. Take control of your expenses and realise the true potential of your business.
