Profit margins in the restaurant industry can be very tight, so anything you can do to lower your expenses will help you to not only survive but thrive in a competitive industry.
With that in mind, let’s take a look at some of the smartest ways your restaurant business can save money right now:
- Lower your inventory
A really easy way to save money in the restaurant business is to stop stocking up on more inventory than you really need. Switching to a lean inventory system means you only order the amount of produce you actually need, which means less food waste and fewer outgoings, thus you will have a better cash flow.
- Take maintenances seriously
Kitchen equipment can be really expensive, If it breaks down or needs to be replaced, not only can that cost a lot, but you may also have to close the kitchen which will hit your income too. By making a real effort to properly maintain your equipment, whether that means using professional restaurant hood cleaning services or simply taking the time to wash and put things away correctly, you can extend their lifespan and save a whole lot of money over the duration you are in business.
- Find ways to use the trim
Most dishes in a restaurant will result in scraps or trim being left over. Instead of throwing these scraps of meat and veg out, you can save a lot of money by finding ways to use them to create other dishes. For example, vegetable peelings can be used to make your own stock or as the basis for a vegetable soup, and off-cuts of meat can often be turned into burgers or sausages. Waste not, want not as they say!
- Use seasonal produce
Depending on where you live, it is often more economical to use seasonal ingredients than those that have been grown out of season. This might mean that you need to rethink your menu a bit, but actually, seasonal produce that has been locally sourced can be a huge selling point, so you may actually be able to attract more customers by using this kind of approach.
- Treat your employees right
This might seem like it has no connection to saving money, but it really does. Many restaurant businesses have a high turnover of staff because restaurants can be a high-pressure environment. Obviously, when staff leave, you will need to advertise for and interview new candidates. This takes time and money.
By taking the time to treat your employees well, allowing them to have plenty of breaks, keep all of their tips, and generally just treating them with kindness, you can increase retention levels and save lots of money over the years!
As you can see, saving money in the restaurant industry may not always be easy, but it is possible. If you are smart and make the right choices, you can see your expenses significantly lowered over time, and the above ideas will certainly help with that.