Financing your F&B business is no easy feat! With never-ending operational costs, how can you maximise profits? While some components of your operational cost are fixed like rent, you are in control of variable costs like material costs. Here are some smart ways you can bring down operational costs and increase profits!
In 2019, 744,000 tonnes of food waste was generated - that’s two bowls of rice per person every day! Cutting down food waste in your restaurant means wasting less money on buying materials that will not turn into profit. Here are some practices you can adopt to reduce food waste:
Portioning may be tricky - if you serve too much, there will be wasted food. But if you serve too little, customers will complain that your restaurant is too stingy! One way to keep your customers happy with their fill is to give them the option to choose how much they want to consume.
Many food items are discarded because they do not look presentable enough to appear on a customer’s plate. Some ideas include turning ugly tomatoes into salsa or a tomato paste, and bruised vegetables into vegetable stock!
Overripe fruits may not be something you want to serve to your customers on its own. However, turning them into homemade jam or syrup not only gives you a dessert topping but also another avenue for profit!
Food waste is inevitable during the cooking process sometimes but making a conscious effort to reduce it goes a long way - in saving cost and the environment!
With an expected 82.86% of Singapore’s population being internet users in 2021, keeping your business up-to-date with the latest trends is just as important as having an enticing menu. With F&B businesses turning to social media platforms like Facebook and Instagram to build a following of loyal fans, it would be a wasted opportunity not to do the same! Not only is social media free to use, but you can also interact with your customers and stay connected with them.
Food delivery platforms have become the norm for many Singaporeans, with approximately 4% of the population using delivery apps to order food at least once a week in 2020. This means exposure for your business, especially for smaller restaurants!
Evolving your business model to include technology is a sustainable way to cut cost by letting technology bring the customers to you!
Commercial kitchens have hoods that prevent grease and grime from getting all over the kitchen, keeping it fresh and clean. However, the grease and grime particles will accumulate in the kitchen hood over time and clog up your exhaust system. This can turn your kitchen into a fire hazard as grease is highly flammable!
Besides preventing your kitchen from turning into a giant death trap, cleaning your kitchen hood also improves the efficiency of your other equipment. With an unclogged exhaust system, there will be better ventilation, thus increasing the efficiency of your other kitchen machines. This will help to cut production cost and you will even save on maintenance fees in the long run!
It is essential to hire a professional cleaner who knows the ins and outs of complex ventilation systems so that you can rest assured that every corner of your system is clean. ServiceBack.com offers affordable and reliable hood cleaning services and the best part? You get to save up to 20% on your business maintenance fees!
