The Secret to Generating More Profit for F&B businesses
F&B businesses or any business in general, always focus on generating profit. It's always about "how much sales you've made this month" and never about "how much money you've saved this month?"
We're in the pandemic era. We have people unemployed and businesses shutting down. Some say the economy is recovering, but we all know it's still incomparable to pre-covid days.
Businesses always prioritize sales, but do you know how much your costs are? Without knowing your cost and blindly giving in to discounts, rebates, and other marketing efforts will not make you as profitable as you should be!
You're just pouring water in a pail with holes in it. And do you know what that means? Your pail will never be full.
Our eBook portrayed a very good scenario on both Sales Focus Strategy vs. Sales & Cost Reduction Strategy; and which, should one prioritize. Well, you tell me.
Food Wastage Means Lesser Profit
Oftentimes, when a marketing campaign is a success, the back of house operations with automatically procure more supplies to cater to the estimated demand of the customers, and oftentimes, overordering happens and the food that is bought will go to waste. Now, do you know how much food waste is costing you? Exactly.
Hence, if your sales and marketing efforts are increasing, your sales too are increasing, but your profit isn't? Then it's time to look into your costs, my fellow F&B business owners. That's the parasite that's holding you back from getting your desired profits!
Time is Money and money is income
Manual data entry is just too much of a hassle. Creating free content on social media, pushing your promotions so that people know about it, all takes up your time and energy. Even though that is important for any business, to make the best out of these efforts, an F&B business should be equipped with a system that allows them to track their costs effectively, to truly measure their marketing efforts and profits.
Besides, if there was a system in place that centralizes all information. Then there would be an apparent decrease in manual work. Which also means less manpower. The budget initially allocated to hire a clerk for manual data entry can now be put into serving your customers better like recruiting more staffs, or hiring a marketer. The possibilities are limitless!
Hidden Costs Hindering Your Profit
You may think that you have no control of your food costs since it is set by the supplier. But what about pilferage? Is your system transparent enough to identify pilferage? Is there any other way to decrease your food costs, and to increase profit margins? Definitely.
This eBook introduces a new perspective of generating profit that not many people talk about. F&B businesses, and every other business should be aware of it and implement it where they see fit.
Less is more. If implementing a system that is transparent and efficient will help with profit margins, I don't see why someone would say no. Besides, with a system in place, you're technically doing less work on the back of house operations and earning more profit at the same time! By then, you'll need to make sure your pocket is equipped with the pro-fit technology to fit all the profit that's coming in! ;) *pun very intended!*
The Only System You Need
If you're interested, to know more about the system that we've been talking about, Food Market Hub does provide it to F&B businesses (restaurants & suppliers) to make your back of house operations run smoothly and transparently. Check us out at www.foodmarkethub.com. Or reach out to us to level up your business. We don't spam, so don't worry! :D
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