New research from Horizons’ biannual ‘Menurama’ reveals UK restaurants and pubs have raised their menu prices by 6% in the last six months, writes GS business development manager Mike Chung. Average dish prices have risen the sharpest for any six month period since the survey began in 2006.
How do hospitality operators combat a price rise is significantly higher than RPI inflation of 2.7% in January 2013?
Tighter cost controls using EPOS
The survey reveals a rise in ‘premiumisation’ and ‘food provenance’, which is where the marketing people cleverly add value to the menu. They do this via descriptions such as ‘local sourcing’ , ‘home-made’ and ‘free-range’ or name the popular types of apples used for an apple pie.
This approach is one way of tackling spiralling prices – another is to use tighter cost controls using your EPOS solution.
We always recommend clients carry out full recipe cost audits as part of our consultative approach to EPOS working on a long-term basis if they serve food.
Audits highlight portion control variances
Audits can be carried using the technology tools that exist in most good EPOS solutions.
An audit carried out by EPOS specialists will help reveal portion control variances. For example, you could be giving away too much or simply wasting far too much produce through poor preparation and ineffectual processes in the kitchen.
Obviously a full recipe cost audit does take time and involves a lot of commitment but the benefits are far reaching. A well managed audit using EPOS can produce massive saving on food costs – anything from a 2 to 6 % reduction in costs. Even the best run operations can make savings.
Embed watertight procedures around EPOS
Another benefit is a the fact that a recipe cost audit will invariably reveal other areas where you can improve operational processes. This is crucial to the success of any EPOS system as the solution is only as good as the embedded watertight procedures built around it!!
If you want to discuss how we can carry out a recipe cost audit of your business so you can counter menu price increases simply give us a call on 0800 655 6264 (even if we haven’t supplied you with your current EPOS solution).
We look forward to hearing from you.