Costing is one of the most important parts of running a successful, profitable catering business. How can you best control your costs? Here are a few tips:
Controlling your food costs will be one of the keys to your success. If you spend too much on your food and don't plan well enough so that you have charged enough to cover your costs and include a profit, then you're going to be in trouble. One of the best ways to control costs for your catering business is by keeping exquisite records and use a catering costing software program. A costing program can effectively track your inventory, identify shrinkage problems, track your receiving, automate your purchasing and audit your pricing. A food costing program can save you a whole lot of money in the long run.
A costing program can also reduce the amount of inventory you waste, extend your inventory even further and identify needs to make ordering easier.
With a more comprehensive costing program in place, you'll be able to provide far more accurate quotes to your customers and better profits for you.
Save loads of time on planning, ordering, tracking, records, pricing and costing. A costing program can do all this and more.
Record Keeping & Taxes
With excellent records, you won't have a problem when tax time rolls around. Your records will have been kept organized and accurate.
A costing program can also keep precise records for each year you are in business. With this historical data, you can track seasonal business trends and make better staffing decisions to prepare for periods that have been especially busy in previous years and pre-organize and contract with suppliers when they will be needed later in the year.
In summary, a costing program for your catering business can save you alot of time, save you alot of money, increase your profits and make your business better organized and more professional overall.
Lydia Quinn writes for R & I Solutions, makers of Cost Genie restaurant costing software. Get a free demo at: http://www.costgenie.com