Mind Food | Number Games

Recently I was hosting a Chef Success Workshop in Brisbane, and one of the key topics that came up was around financial literacy (or lack of) in the kitchen.

 The trade course studied in Australia is called Commercial Cookery. The commercial conversation has never been more important.

 I tend to think sometimes we conduct this training front to back.

 Teaching an apprentice chef about how to read a P&L, work out food cost and control labour is a bit like trying to harvest an orchard before the trees have been planted.

Yet when a chef is recruited to run any size catering operation there is a perception that they are not only a good leader, communicator, trainer, cook, organiser and executor but they are also across the financials…

 After all – cooking is a numbers game.

 Is the onus on the employee to seek out this knowledge, ask great questions and work it out for themselves? Or is it up to the employer to provide the access, insight and tools for them to succeed?

 I challenge, it’s a bit of both.

 A vital component to the sustainability and success of any food operation is being able to understand the financials. Hospitality consultant Ken Burgin talks about the importance of knowing the figures. ‘Without it, the rent, the suppliers and the staff aren’t paid……(focusing on) recipe and menu costing, watching utility costs and having accurate figures daily…. are the lifeblood of a food business.

Any accountant will tell you, if you look after the cents, the dollars will look after themselves.

 Here are 3 simple tips to health check your food operation:

 1.     What are the top 3 selling dishes on the menu and are they costed accurately?

2.     Which menu item has the highest margin and does the front of house team know how to sell it?

3.     What is your weekly food cost percentage? How is it tracking to budget?

What are you or your chef doing to stay across your numbers?

Stay Hungry

- Glenn