According to the U.S. Department of Agriculture, food prices are expected to increase between 1.5% and 2.5% in 2020. That can be scary news for restaurants who are already struggling, but by following these four tips for dealing with rising food prices, you can help your restaurant thrive!
One of the best ways to deal with rising food prices is by reducing food waste. To do so, you’ll likely need to take several smaller steps, rather than one big one. A good place to start is portion control. Not only should you be standardizing recipes to prevent size fluctuations, but you should also keep an eye out for any dishes that reliably send people home with leftovers. Even a change of a few ounces can make a big difference in your bottom line.
Diners love seasonal menus. Not only do they often signal nostalgia for customers, but it can give them incentive to visit more frequently in order to take advantage of their seasonal favorites. The best part? Food that is in season tends to be less expensive since it costs less to grow and ship. Plus, seasonal menus give the staff an opportunity to experiment, which is a win for both your customers and your staff.
Rising food costs are a concern for many restaurants, and as cost concerns grow, it probably feels counterintuitive to spend time and money updating your menu. But updating your restaurant menu can help reduce food waste, cut food costs, and keep customers returning for more. By updating your restaurant menu, you can consider food cost fluctuations, competitor pricing changes, underselling menu items, and popular food trends, all of which can go a long way in dealing with rising food prices.
Daily specials can be great for business. Because they allow your restaurant to get rid of food that would end up going to waste otherwise, daily specials can be a great tool for dealing with reducing food waste and dealing with rising food prices. In addition to their practical usefulness, daily specials are great for regular customers and staff alike. Customers enjoy even more choices and staff members are able to flex their creative muscles and develop new skills.
At McDonald Wholesale, we understand how challenging it can be to deal with rising food prices, which is why we’re dedicated to providing menu analysis and development services for our customers in addition to providing the highest-quality wholesale food products for your restaurant. Contact us today at (877) 338-7593 to become a customer for life. In the meantime, check out our foodservice blog where we cover everything from leasing restaurant equipment vs. buying to what you need to know about ghost kitchens.