OPERATIONS: Slash Your Food Costs with the Ultimate Guide to Restaurant COGS [Presented by Orderly]
You've heard that knowing your Cost of Goods Sold can help you manage your food costs, but you've got no idea where to start. So, we've racked the brains of the restaurant experts here at Orderly to create the Ultimate Guide to Restaurant COGS. It gives you everything you need to understand, calculate, and manage your food costs - and it's absolutely free.
DID YOU KNOWS…
So, The Mooch’s Restaurant is Doing a Thing…
Anthony Scaramucci aka The Mooch aka the guy who was the White House’s Comm Director for a whopping 10 days aka “And people complain kids can’t hold down a job for more than a week” apparently has a restaurant. It’s called Scaramucci’s Hunt & Fish Club and it’s the location of a “Sugar Social” where 25 “invited gentlemen” will meet 35 “stunning women” for cocktails before these “gentlemen” invite “one (or two if you like)” for dinner… and perhaps sex for cash.
Whopper Dog is Best Dog
Dogs are the best. It’s a scientific fact. Every dog is the best doggo out there, but can your canine companion find you the nearest Burger King? Flynn, a seeing eye dog for a visual impaired hockey player, learned how to sniff out food for its owner. But not just any food – Whoppers from BK. Check the video out here.
Money to Burn?
As this infographic shows, some 27% of all Americans would pay down their debt first. Secondly, they would invest in real estate and if anything is left, they would rather add it to their savings account than put it into their children’s education (screw the kids, amirite?) However, there are high disparities on how to invest a $10,000 check. While Millennials are more open to converting their money into cryptocurrency (9.2%), Baby Boomers would rather stash their money in a savings account which comes with more security of investment but also with much smaller interest rates.
SAVE MONEY, LET THEM STAY HOME
Why it matters to you: Restaurants stand to save a lot of money by letting employees stay home sick.
Who wants to eat around someone who is consistently coughing, sneezing, and sniffling? Oh yea, that’s right… nobody. Who (as a restaurant) would like to be responsible for a foodborne illness outbreak? Guaranteed nobody. So why is it such an issue for employees to get a sick day when they really need it? Staffing is part of it. Restaurants are always struggling to find quality staff which leads to employees being forced to work while sick. The other immediate answer is that many employees simply cannot afford to miss a shift since they are depending so heavily on their tips to survive. These scenarios are good for nobody.
Having a foodborne illness outbreak can cost you anywhere from thousands to millions of dollars depending on the scale, not to mention the potential nail in the coffin to your reputation. Diners are almost always scared away from places where they know an outbreak of some kind has originated from. The solution to all of this? PTO sick time for employees and making sure your kitchen and bathrooms are spotless. These cannot be stressed enough. What’s more expensive -- a lawsuit and damaged reputation or a sick day and some cleaning supplies? Save money where you can, and ounce of prevention is worth a pound of cure.
RACIAL BIAS TRAINING FTW
Why it matters to you: Days after a controversy Starbucks aims to try to make things right.
If you haven’t heard, two black men in Philly were accused of trespassing inside of a Starbucks and arrested. Video of arrest went viral along with #BoycottStarbucks because the men did nothing to deserve the arrest; all that they “did” was wait for their friend to arrive before ordering (nothing out of the ordinary). Granted, nobody likes people loitering inside of their business without a purchase, but arresting them was the absolute worst way to handle the scenario. In response to the incident, Starbucks’ corporate is calling the arrests a “reprehensible outcome.” It truly is.
“Regretfully, our practices and training led to a bad outcome—the basis for the call to the Philadelphia police department was wrong,” Starbucks CEO Kevin Johnson said in a statement. “Our store manager never intended for these men to be arrested and this should never have escalated as it did.”
Naturally protests started and so did the apologies which only goes so far without action to back them up. However, Starbucks is making moves to do just that. On May 29th, Starbucks is closing ALL of its’ company-owned US stores (8,000 to be exact) to conduct racial-bias education and training. The training is to ensure that everyone feels safe and welcome inside of a Starbucks. This is the right move by Starbucks. Generally restaurants and fast food giants aren’t historically great at handling things like this, so this is a very welcome step in the right direction. Good job Starbucks, hopefully this can serve as a good example for the rest of the restaurant industry and elsewhere.