If you wanted to know the state of supplier pricing what would you do?
That’s the question we asked ourselves here at Orderly.
And our solution was simple… use the information we’ve gathered in the Orderly App to pull together a report on supplier pricing.
So we analyzed 357,806 supplier purchases from over 4,100 restaurants in our system.
Here’s what we can tell you about pricing.
Inventory. It’s kind of a big deal.
16% of your food ends up in the trash.
75% of your employees steal from you, representing a staggering 7% of your revenue.
And restaurants who take regular inventory can increase profits by up to 24% a year. Those are 3 pretty convincing reasons to make sure you take inventory… and do it right.
With that in mind, we’ve put together The 2017 Complete Guide to Restaurant Inventory to give you the “what”, “how” and “who” of inventory.
It will walk you through best practices, common mistakes, and tips & tricks.
Kontabilitetit. Uhasibu. Redovisning. Comptabilite. Apskaita.
As hard as these words are to understand, the concept they all translate to can be even harder to grasp…
We’re talking about accounting.
Lust… gluttony… sloth…
Ok, ok… the “deadly sins” your staff commits once their shifts have ended are their business.
But there are a few secret sins that happen in just about every restaurant backroom across the country…
We’re talking about inventory sins.
You don’t have to be a rocket scientist to run a restaurant.
But sometimes it can feel that way.
There are so many processes and tasks to keep track of… scheduling shifts, ordering food, prepping for service, signing off on invoices, training staff… the list seems never-ending.
They say the truth hurts. What’s more painful than 60% of restaurants failing their first year of operation and 80% failing 4 years later? Not much. The worst part is… you’re not even out of the woods after that.
Recipe costing… it’s a little like a Tinder date.
Sure, she looks great in the photo. But when she shows up to the restaurant… well, let’s just say she’s not what you expected.
How does getting catfished by your online date relate to recipe costing?
You think calculating the price of each dish is going to get you a big, beautiful profits statement that will be the magic formula for running your restaurant.
But what you get is the opposite…
If someone came into your restaurant and took cash out of the drawer, would you take action?
Of course. That’s your money!
Well, if you’re still using restaurant inventory spreadsheets instead of food costing software, you’re actually stealing from yourself.
“What’s the problem with spreadsheets?” you ask.
How do you know your restaurant’s doing well?
You’ve got a waitlist every night…
People leave GOOD reviews on Yelp…
Your staff seems happy…
Yes, these are all reasons why you may think you’re running a healthy business. The problem is… they don’t necessarily mean profits are up.
Did you know that 46% of all small businesses fail because of bookkeeping errors?
Would you believe that cash flow problems wipe out another 82%?
And that overall, restaurant industry sales are down 1.9%?
These stats are no joke.