Food Costing Sheet Template
Food Costing Sheet Template – Chefs are managers and must know how to control food costs in the kitchen, and those who cannot do this will quickly lose their jobs. But price control is everyone’s responsibility and a chef needs to convey this message from his cooking team, from the kitchen to the dishwasher. Food costing is about properly training your staff to be efficient, control portion sizes and reduce food waste. Here are some more ways to keep costs under control.
Calculate the cost of each menu item and include all plate components. The price of the plate includes parts of the product and scraps, such as leftover meat or vegetables. Some plate costs use multiple preparations, such as the truffle demi-glace in this recipe, which calls for a brown base and brown sauce to be prepared before making a little sauce. Other recipes, such as potato chips, have the waste left over from peeling and chopping the potatoes and dividing them. All these factors must be taken into consideration before determining the actual cost of the panels.
Food Costing Sheet Template
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The Q factor is the cost of the additional item required to produce and serve the menu item. This includes extras like bread, butter, and salt and pepper. Typical Q-factors add about 10% to feed costs.
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Extras such as bread, butter, salt, pepper and other condiments should be included in the price of the meal.
Once the plate price is determined for the menu item, the selling price can be set. A typical percentage of food costs is 20-40% of the facility’s total operating costs. Most sit-down restaurants are in the 30-35% range. Caterers and party organizations may have food costs in the range of 25-30% due to the number of guests and the guarantee of prepared menus. Use the following formulas to determine the menu value.
A food business develops a theoretical budget with sales goals and projected cost goals for food, labor, and overhead. A projected budget is an estimate based on sales history and forecast trends in sales and operating expenses. Budgeting helps keep the operation’s goals focused so the manager and chef can make adjustments as needed to maintain financial stability.
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This is determined by physical inventory and comparison with actual sales. This method requires accuracy to record items in a consistent manner. A sign of a well-functioning operation is how close the theoretical and actual calculations are.
Some inventory items bring more profit and lower prices than others. Soup and pasta tend to be cheap/expensive items. Some menu items, such as soup, can be 10% of the meal price, while other items, such as steak and lobster, can be 40% or more. The goal of menu design is to have a balanced mix of menu items to achieve a consistent total food cost that is consistent with monthly operating costs.
Just because a menu item like soup may be low in price doesn’t mean you can’t count the success of your operation on the soup. Lobster tails may have a higher percentage of food value, but they bring in more raw dollars than soup. In fact, an analysis of revenue in raw dollars shows that some items generate more revenue for the company despite higher feed costs.
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This menu mix shows an average food price of 32 percent. Soup, salad, and chicken show below average meal prices, while steak and lobster are high. Selling 20 lobsters at 20% of the food cost sounds good, but it makes $80 profit, while selling 20 lobsters makes $500. Lobster brings in more cash dollars per unit and more profit than chowder. If more lobster is sold, it will bring in more revenue than the same chicken or beef steak. Therefore, the percentage of food costs should not be determined only in the combination of menus and prices, but the sales margin.
The income statement shows how much money was made from the sale of food and beverages and how much money was spent on goods, services, and utilities. They are usually completed monthly and compared month to month to determine if sales and expenses are on target.
Because it is difficult to compare dollar costs from one period to another, the cost-to-sales ratio is often used and presented as a percentage of sales. By analyzing cost ratios, the operator can easily target problem areas. These areas can be analyzed and changes can be made to increase profits.
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The food business operates on very small profit margins. Food cost is not the only factor in running a food business. Here is an example of food prices and pizza prices. While the profit from this pizza may seem like more than $10, there are additional costs to consider, including labor, rent, and other costs. After all these costs are calculated, most catering profit margins are usually in the 3-5% range.
Staff Training – Train everyone to follow the system by following standardized recipes and procedures to monitor portions, efficiently use harvest and leftovers, and minimize spoilage and waste.
Menu Costs – Calculate the cost per unit for each menu item to set a realistic selling price.
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Portion Control – One of the easiest ways to control food costs is to establish standard portion sizes and train employees to use them.
Production forecasting – By using sales history to determine production, you can reduce food waste and overproduction. Prepare a two-step prep sheet for all food items to help your staff plan production
Overproduction – This is the result of a lack of accurate forecasting based on sales history, which increases the cost of not only food but also labor.
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Using Scraps and Trimmings – Trimmings or reusing excess food for other preparations is a great way to reduce waste and increase profit margins.
Inventory – A regular inventory is important to determine if expenses are in line with the budget. Physical inventory is usually once a month, but if food costs are out of control, it can be done weekly or daily.
Theft – Unscrupulous workers will always find a way to steal, so keeping track of inventory and protecting valuable merchandise can help keep costs down.
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Waste – properly trained workers are less and more conscientious; Check back regularly to see what’s being released
Shopping Analysis – Having an alternative supplier for your food and drinks allows you to compare purchases to keep your shopping costs in line.
Sales and Service – An established training program will reduce “commissions” from poor service and ensure employees pay the correct price for menu items. Labor is easily one of the biggest costs for restaurants and can be compared to food costs as the number one expense facing restaurants. And just as any successful restaurant tracks the food costs that go into each menu item, tracking labor costs is just as important.
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Labor cost and labor percentage are metrics that a restaurant operator needs to not only track, but also regularly monitor and adjust.
We’ve created a free template to help you calculate restaurant operating costs, but first it helps to understand what the key metrics are and how to manage them.
Labor cost is the total dollar amount spent on employees on your restaurant’s payroll. Some business owners make the mistake of only including hourly wages in their labor costs. Restaurant 365 describes these direct wages as “unencumbered labor.” On the other hand, “hard-duty” refers to costs such as employee wages, employee benefits, and additional costs such as payroll taxes and social security.
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You need both to calculate labor costs. Add all costs associated with wages, benefits, and other fully loaded work items. We’ve created a free calculator below to help you with this process.
However, the total cost alone does not give the whole picture. Labor costs must be compared to your total sales if they mean anything.
The labor cost percentage is the ratio of your labor costs to your total revenue over the same period. To calculate your labor cost percentage, divide your labor costs by your total sales for the same period. You can plug your gross sales into our free calculator to find your labor cost percentage.
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Every restaurant is different, so there’s no exact measurement for the labor cost percentage. Crone recommends operating expenses be less than 30% of gross revenue, but this can be lower for fast-casual and quick-service concepts and higher for fine dining.
Let’s say your restaurant has four chefs and four servers on shift at any given time. Each is paid $10 an hour and works 8 hours a day. Your restaurant is open five days a week and average weekly sales are $12,000. For simplicity, exclude hard labor costs such as bonuses, benefits, and payroll taxes.
Now let’s say in the above scenario your house is understaffed and you are waiting 20 minutes straight for the dining room tables to remain empty. You hire another server, which allows you to serve more
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