How To Calculate Food Cost Percentage (& SAVE $$) | Cafe Restaurant Management Tips 2022
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- Опубликовано: 9 июл 2024
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👀 ABOUT THIS VIDEO
Managing your food cost is the difference between you going bankrupt or thriving. Here's how you calculate food cost percentage and build a successful restaurant food business!
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👀 ABOUT THIS VIDEO
Food cost is one of 3 giant expenses that take a bunch of your margins. If you don't know your food cost or how to manage it, you'll be in big trouble. It is one of the numbers you MUST understand well and tinker around. That is..if you want to open and run a successful restaurant or food and beverage business.
And when restaurant margins are already so thin, you want to do as much as you can to reduce your expenses. One of them is you can control is reducing your food costs.
I can't emphasize enough how important it is to know your numbers.
So if you're a restaurant owner, a small business owner, or part of the restaurant management team and want learn how to calculate food cost percentage, ways to reduce food costs, food costing and pricing, or simply how to run a restaurant successfully....keep watching!
#foodcost #restaurantmanagement #wilsonklee
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👤 ABOUT WILSON:
I’m Wilson, your new restaurant business partner. I’m here to help turn your food and beverage concept into a reality with expert tips & tricks for success.
My videos are based on years spent in the industry building multi-million dollar businesses, including my own international dessert chain (720sweets.com/) with locations spanning the globe. Since my franchise was acquired (2020) it’s been my mission to share this knowledge with people like you who have great ideas, but just can’t seem to break through. If I did it all with no experience, so can you. I know firsthand the struggles and mistakes most entrepreneurs make, and want to show you exactly how to avoid them.
Find more great resources, check out www.wilsonklee.com/
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Can you mentor me in this area in terms of pricing? Thanks
How much?
Where are you located?
I see a lot of comments about the music and personally I really liked it and didn’t feel to it took away from anything. Also great video, really helps put everything into perspective
That music, get rid of it, it’s like a toothache.
I think you better talk without music background.its better and can feel the atmospher.thank you
yup. new vids dont' have bg music.
@@WilsonKLee did the cost of goods sold jump from 40% to 46% as an error . It was $2.00 then $2.30
@@WilsonKLee I LIKE THE MUSIC WILSON
Yup.too loud
@@WilsonKLee Please update this one with no music.. I can't even listen the video past 6 minutes
Thank you. That's exactly what I've been needing. Very helpful
The way i did it,and admittedly I didn't know at the time if would work, was my Plain Ham burger was the same price as everyone else, but we made it to basically break even gross inc wages, consumables and energy, The burger was huge and people loved it, then the add-ons to those burgers were 200 to 500% markup. And we went from selling 150 burgers a week, to 400 burgers. And it ended up becoming my strategy, to draw people in and break even on budget and make money from the rest of the food bought around the burger.
There was an unexpected benefit to it too, because we started turning over lots more food, our suppliers stated to provide us better prices, which enabled us to make a little more on every sale, and improved the Net per sale.
Also it allowed us to use much better quality food, which also helped improve the revenue as people know when they are getting good quality fresh food. We stopped skinting on price, and worked out a way to get better food and sell lots of it.
Truth be told, your videos are a godsend! Thank you 👌🏾
I appreciate that!
This is amazing. Extremely valuable content. Thank you sooo much for putting this out there.
Great videos. Love your explanations. Love how simple you keep it.
Thanks Wilson for sharing this, especially point out the ideal percentage of COGS and food cost. (This is the first time I'm thankful to took Accounting as my major and am not overwhelmed with your explanation).
Great to hear!
Thank you so much. Very informative. Easy to understand
You are awesome Wilson, i love this video. Keep it up! Very helpful
Glad it was helpful!
Thank you so much for this video, you explained everything so well, I actually understood your video. My costing test is next week, so Thank you!
Thank you for this video! this has helped me so much
Thank you Wilson! Helped a lot.
What a great video! Thank you so so much
Wilson thank you for your videos, they are really helpful and informative. THANK YOU!
Awesome video. Helping thousands. Keep up the good work Wilson.
Glad to help!
Love the advice. Trying to start a small Cafe. Thanks for it. I subbed
Thank you for this info....it help me a lot
Good to hear! Let me know if you have any otherr topics you'd like me to cover!
Excellent, helpful video Wilson’s. Thank you.
Glad it was helpful Dan!
Thank you sir 🙏 this was much needed.
Glad I found you when I did. Your a great educator thanks for all you have shared so far.
I appreciate that!
Loved this video and the rest in the series. you do a very good job of breaking everything down and giving good examples. Thanks Wilson!
Glad it was helpful!
Thank you very much. You're a very good teacher!
Amazing thank you
Thank you for this video ❤
Great video. Easy to understand.
i never in my life thought i would look this up but here i am and thank u so much
Great video!
Amazing video Sir, learned a lot from this.
Thank you Wilson!!!! 😁
you are the super generous man ..... thank you so much . god bless you.
great work.
Thank you Wil
Very good stuff..eye opening
Thank u so much for this😊
Hello Wilson, dude I love your content. Your well versed and beautifully composed.
Good luck my man.
Greets from Lusaka Zambia.
Thank you very much!
Very useful. Love from Sri Lanka ❤
This is an amazing content video. Music is distracting but I just watch & take notes. Super helpful as I’m starting one myself. Thanx for the info!!,
Thanks for tuning in Eddie!
Great work. Thanks for this.
Glad you liked it!
man im about to start my coffee shop and with these videos i feel like im getting top tier advice thanks a lot
Glad to hear it!
Thank you😊
Great material! thanks! :)
My pleasure Sergio!
Thank u so much❤
You're amazing. Thanks for sharing
You are so welcome Emily!
this is great content, thankyou
Glad it was helpful Imran!
Thank you God bless you men
It was interesting to see.
Amazing videos i learn a lot with you
Happy to hear that!
Nice videos i really wanted to start my own food business nd luckily I found out you. on top of that you are really good and kind hearted personality..
thank you Sir Sharing ideas food coast
Great job on explaining everything Sir
Glad you liked it!
Very informative Thank You soo much
Glad it was helpful!
You gave me something to think about
Hey there,
I haven't watched this video yet. I just wanted to say that you & your videos are fantastic. Excellent advice, to the point, professional delivery, kind nature, etc. I wish you the best on this channel, keep going!
Best Regards
p.s. you can find a lot of gems or "gold nuggets" around startups
Appreciate the kind words!
Hello Wilson, new subscriber here. Can you make a video on food purchasing? Sharing ideas, tricks or knowledge on how to do it smart. Maybe using examples focusing on proteins and produce orders as a chef. Thanks Wilson! Keep up the great work
Business planning involves sitting down and designing the menu and market you want to serve. And how the location kitchen, and decor meets those needs .This could take 7 hours or 40 hours depending on restaurnant experience . Business managers and owner and planner need to have analysis meeting , luncheon.
Thanks Wilson 🌎
Well explained
I understand fine with the music lol ❤️ thank you for the information
I'm so glad!
Thank you
Thanks a lot for all the advices from a chef that want to open his own business. Of course many things I knew alre because of the experience but heard from you is more like a statistic I like it
So nice of you, my pleasure!
It seems we have a number of things in common. I am very interested to connect with you and get to know you and your business further and how we could work together to help each other out. I'm a Business Consultant that helps business owners increase their credit and offer alternative lending loans. If you are open to that please accept my request.
Email me at CEO@BZCapitalConsulting.com
Best, Bz
Thank you so much
Thanks a lot for sharing the info. Running business is never easy. A lot of things to be considered. Therefore, I thought that it would a good idea to share knowledge how to build such a tool to manage the restaurant in Excel. Just following title, it will give you a nice solution: Restaurant Management System - Food cost control - Dashboard Tutorial in Excel
Thank u so helpful to me
Glad to hear that Rina!
Thank you very much for making this informative video love from India
Bless u wil
GREAT2 VIDEO
thank you
Wilson! how are you? this video is very important for beginners! If it possible, for the future practical approach can give detail lesson, you can show us from local restaurant who can cooperate willingly!
Believe me you are such genius person thanks very much Mr Wilson..
You are very welcome
Very informative. I appreciate that. But I have a question. Do you look for a building first or do you get the license and permits first
Great video. I was wondering if you could share how you create food cost on spreadsheet.
hello Wilson this video was great I'm starting my food trailer business in a month or so looking forward to maybe purchasing the online course
Thanks for sharing! 🇲🇾🇲🇾
Thanks! Hope this was helpful for you :)
You're amazing bro
You too man!
Awesome video great value keep up Wilson! (Didnt like the music!!)
Sorry about the music! I've taken it out in all my newer videos :)
I love how you explained the Cost of Goods Sold (COGS) with a clear breakdown and all the information without feeling overwhelmed.
The 3 advantages of calculating COGS include the ff:
1. Strategize and engineer new menu
2. Run proper promos
3. Make more profits
Thank you for this excellent video, Wilson. 🙌
I enjoyed it n learned something, thanks n I liked also
Glad to hear that! Do you own a food business too Fei?
My mum owns one, I try to make some adjustments here n there,
The own an ice cream shop
Thanks Wilson
thanks for tuning in Mounir!
Very nice video 🌎 Greetings from Colombia. The Venezuelan Immigrant writer, ecologist, entrepreneur🇻🇪
Thanks for this information. How do I calculate the cost of each ingredient that make up menu items?
Infomative Video
thanks!
Cost of the cookie is 0.25 to 0.5 ... You put a price - 50 dollars .. and the sell with a 90% discount! People would flood in. ... What a brilliant idea
The major problem is that with new restaurants people are looking for the best food for the lowest price. So, say I wanted to make a foie gras terrine, I would need to sell lower end stuff, but make it flavorful enough to eventually build up enough revenue to begin selling that terrine without breaking the restaurant
You missed the utilities cost in calculating the menu cost, if I am not mistaken. Indeed loved all aspects, thanks much!
very helpfull boss..!!
thank you
however in my opinion if the background music could be at a much lower volume, would make it easy for me to focus
thanks again
Superb
Thank you! Cheers!
this guy is tooooo underrated
Hi we have a project in our subject that we should think of a product or services that we want and make a product plan of it , and i chose to do a video demo about my product or services but then i dont now what business should i pick and how to do a video demo of it . Do you have any suggestions please .
Your info is excellent and you have good tips. The style of video is just enough to keep your attention without overkill. However, I’d recommend losing the music entirely or just use it when you segue. You don’t need it in the background when you are talking numbers. Maybe for something broader it would be fine. That said, I really like your videos and they get my ideas going as well as remind me of what I need to think about still. Thanks for your work!
Thanks for the tips!
Thanks Wilson for sharing. One feedback is I find the music kind of overpowering your voice. Maybe my hearing ain't that good :( just thought you might like to know. Thanks once again
thanks for the feedback! Will try to lower it for the next ones!
agree!
@@WilsonKLee mind to attach the link?, it's so hard to navigate since you have tons of videos
Thanks for sharing. It was somewhat challenging to focus on what you were saying. Perhaps the music could be turned down a little bit more.
Hallo Wilson, thank to you , I am getting better every day. Do you know a free software to calculate food cost and inventory cost for a restaurant?
Excel is what I use. There are probably fancy software out there.
thanks form BANGLADESH
good video, thanks. maybe lower the volume of the background music.
Brilliant video with many helpful advices👌
aside the music, it's just too loud & distracting.
I love this video... EXCELLENT...
HINT: Your background noise/music was a little too loud making it hard to hear and understand you at times...
We Don't need music (even though it is beautiful)
We just want to HEAR you Talk...
Thank you for sharing this video.
8:44 dont u need to add some electric and water or smth bill into it or maybe i missed it
Thank you for very useful video. Backround music very loud. :( ..
I was confused about CoGS. The higher it is the lower the profit? How is that?