Controlling the stock of your restaurant today is a must if you do not want to lose money. Can you imagine a textile business that does not know how many garments it has sold? Or what is worse, that not knowing how much it cost them to make them, do they sell them too cheap?
It is unthinkable that these companies work without knowing the manufacturing cost and the value of the products; however, in a restaurant quite often the control of food and beverages does not follow any order.
If you invest too much money but this is not reflected in your profits, you have customers but the accounts still do not leave, you spend more and more time but it seems to be not enough … it’s time to think if you are managing correctly.
I invite you to ask yourself these questions:
- Do you know exactly what products are in your restaurant?
- Is there someone in charge of making and reviewing the inventory?
- Do you control the costs of your restaurant?
- Are there specific dates assigned to take inventory?
- Do you check one by one the products you receive from your suppliers?
- Do you know what your best selling products are? And the least sold?
- Do you know the system “first in first out” (the first to enter is the first to leave)?
- Do you always have the necessary products, preventing them from running out?
If in any of these questions your answer has been NO, you have to know that you must improve in the control of food and beverages.
What is stock control and why is it going to help you not lose money in your restaurant? Stock control consists of knowing what foods and beverages we have in our restaurant at a certain time.
To carry out a correct management, we will do what is known as inventory; a detailed list where we will write:
- Items that we have in stock.
- Quantity of each of them.
- Detailed description.
The purchase of food and beverages is one of the most important expenses for restaurants, so you must have inventory control policies: specific dates to do so, periodic reviews and why not, surprise inventories to avoid theft.
- How stock control will reduce your expenses in your restaurant.
- You can make smarter decisions to reduce costs .
- Your profitability will increase , since you will avoid losing money.
- You will know what your sales have been and you can create strategies to increase them.
- You will save time that you can invest in other aspects of your restaurant.
- You will decide what and how much to order without accumulating and losing money.
- You will know which are the most profitable items to design the menu that includes them.
- You will know which genre is going to expire soon and you should use it.
- You will see the evolution of prices of products and you can decide on your suppliers.
- You will improve the way you order products.
- You will avoid theft or loss of raw materials due to lack of control.
- You will always have a minimum and a maximum so that nothing runs out.
You can reduce the level of waste.
And of course, you will save a large amount of money.
As you see, just a tool like inventory can save you money and resources, which are sure to be welcome to favor other areas of your business.
If you have decided to improve the management of your restaurant and want to continue increasing your profits. I invite you to review our Restaurant Management Course, because we teach you everything you need to know to make your business profitable, through videos and success stories.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file, critical financial documents and back office tools in an efficient and secure environment. Complete Controller’s team of US based accounting professionals are certified QuickBooks™️ ProAdvisor’s providing bookkeeping, record storage, performance reporting and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay services. With flat rate service plans, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.