September 6, 2017 By Eileen Campbell
In your operation, food cost is likely one of the highest expenses along with labour, rent and overheads. Even the slightest cost increase can “eat” into your profits.
Food cost percentage is a management tool to identify potential problems by comparing changes from one week to the next and should be calculated each accounting period to ... Read more about this post
August 8, 2017 By David Hopkins
With the announcement of minimum wage increasing to $15 by 2019, restaurant owners in Ontario, Alberta and potentially British Columbia will not only see higher rent and utility costs, but also increases in meat prices. The surge in meat prices will add yet another level to profit challenge, making it harder for the ... Read more about this post
June 23, 2017 By John Clausen
In the service industry, people seem to have the greatest impact on costs and on revenue — costs such as the efficient use of resources and providing high-quality service at a reasonable price; and revenue generated by repeatable business and positive customer referrals.
Technology, meanwhile, can also be used to enhance the customer experience ... Read more about this post
March 29, 2017 By Doug Radkey
Having the correct front-of-house (FOH) and back-of-house (BOH) systems in place will equally position you and your team to ‘order like a pro.’ First and foremost however, you need to understand and realize that the necessary return on both your food and beverage investment is partially a question of your trainable cost control ... Read more about this post
March 1, 2017 By John Clausen
In order to stay ahead of your competitors and continuously improve, you need to examine all aspects of your business, from staffing to menu pricing to the technology used in your business to enhance decision making, service and customer satisfaction.
Unfortunately, technology can be expensive. For a foodservice business, the upfront cost can be ... Read more about this post
December 19, 2016 By David Hopkins
One of our first clients at The Fifteen Group originally contacted us as they were having challenges with making strong profits on strong sales. As we quickly discovered, this was in large part because of difficulty in controlling labour costs. It wasn’t because they weren’t good at managing labour efficiency; it was because ... Read more about this post
October 17, 2016 By Douglas P. Fisher, BAS, MSc, FCMC, FCSI
In 1993, the Canadian Restaurant Accounting Standards in order to assist independent, small, mid-size and large restaurant chains to use a nationally recognized standard of accounts. These standards were updated in November 2009 with the release of Canadian Restaurant Accounting, Second Edition. The Canadian Institute of Chartered Accountants ... Read more about this post
September 1, 2016 By David Hopkins
When I named our company The Fifteen Group in 2001, it was because we believed that any decent restaurant should make at least 15 per cent profit on sales (or potentially more, under the right circumstances). We still stand by that viewpoint today, however if I were naming the company now, it might ... Read more about this post
June 29, 2016 By T.R. James
Eggs. The world’s most perfect food? Nutritionally, they could be. They’re rich in nutrients like protein and calcium. Plus, they’re virtually indispensable. Can you imagine a world without bacon and eggs? Pasta? Cake? Didn’t think so.
Yes, eggs are amazing but… shell eggs break. Shell eggs have a short shelf life. Shell eggs aren’t ... Read more about this post
June 14, 2016 By Geoff Wilson
While I was in high school, my father, a high school principal, asked me: “What do you want to study in university?” I responded, “Chemistry or hospitality.” His quick, sage reply was, “Study hospitality. People will always have to eat.”
He was right. Canada’s foodservice industry continues to grow, but like many industries, it ... Read more about this post
June 6, 2016 By Hugh Johnston
With food inflation at a troubling 3.9 per cent year-over-year in the third quarter of 2015, operators have more reason than ever to be concerned about rising food costs. Leading the way were beef (up 12 per cent), fresh vegetables (up 11.5 per cent) and pasta (up 10.5 per cent). If you make ... Read more about this post
May 19, 2016 By David Turk
In the restaurant and foodservice industry, the easiest and least expensive option in the short term often ends up being inconvenient and more costly in the long run. Whether it’s the headaches associated with unreliable equipment in the kitchen, a disappointing dish made with sub-standard ingredients or a bad customer experience because of ... Read more about this post
May 3, 2016 By Jordan Knox
Restaurateurs may have started seeing a trend of food costs rising and profit margins shrinking, which puts an increased focus on managing the controllable costs as much as possible.
Many costs associated with owning a business are fixed: rent, utilities and to some extent, staffing. The one intangible that can make or break a ... Read more about this post
April 19, 2016 By Sean Moon
Dishwashing equipment, the true workhorse of any restaurant kitchen, can also be an unsung hero for foodservice operators in terms of cost-savings and energy efficiency. While the basic functions and purpose of dish and warewashing equipment have remained fairly constant over the years, manufacturers are adding new, money-saving features every year.
Canadian Restaurant & ... Read more about this post
April 11, 2016 By Roger Mittag
For as long as I can remember, beer has been ‘just’ beer. It has been refreshingly easy to drink and for the longest time, most beers tasted the same. The harsh reality is that most draught beer purveyors simply didn’t give it a second thought. Sure, we all need draught beer but it’s ... Read more about this post
0