Catering is a one of the most profitable businesses in the world. Regardless of the type of event, you have to ensure that you set reasonable pricing, since it will be the determining factor if your clients continue patronizing your restaurant or not. But when it comes to food cost, there are so many factors like making sure the quality is consistent, maintaining the food rotation schedule and more that needs attention. Here are some tips to reduce food cost for your catering business:
- Reduce wastage of food by using it in different ways
You can use the leftover meat to make soup, or use vegetables that are starting to get old and add them to your salads. You could also offer free soup with every meal if you have a lot of leftovers.
- Use ingredients that are in season
This will not only help you reduce the cost of your food, but it will also make your dishes more flavorful and fresh.
- Buy in bulk
By buying larger quantities of the ingredients that you use most frequently, you can save quite a bit of money on your food costs.
many grocery stores offer discounts for buying certain items in bulk, so if you can find a product that’s on sale at a good price and use it up before it goes bad, this is often a great way to save money on groceries.
- Purchase items on sale
It’s always a good idea to keep an eye out for sales, as they can help you save money on ingredients.
- Buy generic brands
Many generic brands of food and household products are just as high quality as their name-brand counterparts at a much lower price point. And are every bit as good in terms of quality, taste and nutrition.
- Grow your own vegetables
If you have the space, growing your own vegetables can be a great way to save money on food costs.
- Use dried herbs and spices instead of fresh ones
Fresh herbs and spices are expensive, but dried versions are much more affordable and can often be used in place of their fresher counterparts with no noticeable difference in taste or aroma.
- Buy frozen vegetables instead of fresh ones
Frozen vegetables are often just as nutritious as their fresh counterparts but are usually cheaper because they require less labor and energy to produce than fresh varieties do.
- Buy store-brand products instead of branded ones
Many grocery stores offer their own brand of products that tend to be much cheaper than the big brands’ offerings but still just as good.
- Use coupons
Coupons can help you reduce the cost of many grocery items, especially if you shop at stores that offer them on a regular basis.
- Get free samples
Many supermarkets offer free samples of their products so that customers can try before they buy; take advantage of this opportunity whenever possible to avoid wasting money on products that don’t suit your needs or taste preferences.
- Don’t buy convenience items
Many convenience foods are more expensive than the ingredients that go into making them. For example, it’s usually cheaper to make your own peanut butter than to buy a jar at the store.
- Refrigerate perishables quickly
If you’re shopping for fresh produce or meat, be sure to get home as soon as possible so that these items don’t spoil before you can use them; refrigeration slows down the process of spoilage but does not eliminate it altogether.
- Shop at farmers’ markets
Locally grown produce is usually fresher than what you find in supermarkets and may have more nutrients as well; buying from local farmers helps support local economies as well.
- Keep an eye on prices
If you see a sale item, buy it as soon as possible; if there’s only one left in the store, don’t be afraid to ask someone else if they’re interested in buying it from you.
- Shop at discount stores
These stores offer lower prices than regular supermarkets because they buy products directly from manufacturers instead of through distributors; however, their selection is usually limited to a few items per category and may not include everything on your shopping list.
Conclusion:
Cost is one of the major factors that decide the fate of any business. If a business is unable to remain profitable despite being established then it will not run for long irrespective of the good are its products or services.A final tip on pricing is to get creative with ingredients and join hands with a catering food supplier. The reality is that food costs will be high no matter what; you just have to pay attention to your profit margins. Try alternatives to the most expensive ingredients, or small upgrades like fresh versus dried herbs and spices. Make cheap cuts of meat taste better. Cut the food into the minimum size serving and offer seconds. All of these things will help you to convince your customers that they should pay more for your catering business, even though their food costs are low.
