Inflation can be a lethal threat for restaurants

Shorter article addressing the concerns many restauranteurs have regarding inflation and the year of year rises in costs.

Interesting article posted by: By Peter Romeo on Restaurant Business Online
Titled: Inflation is festering into a lethal threat for restaurants
URL: https://www.restaurantbusinessonline.com/financing/inflation-festering-lethal-threat-restaurants-new-data-shows
Date Posted: May 24, 2022

The key take-aways from the article are as follows:

• 'About 72% of operators fear they won't be able to remain in business if costs don't moderate.'
• Additional stats quoted from: new data from the Alignable Research Center.
• 1% said they've already closed their operations because of soaring costs, and another 1% indicated they won't make it to July
• half the respondents said their essential costs have increased by 25%, yet only 16% of that group were able to cover the spike by raising prices.
• Restaurants typically cite runaway increases in labor and food costs, their two largest expenses.
• The restaurant industry saw a 7.2% year-over-year increase in menu prices in April.

This article can be supported by our previous articles: Food price inflation is driven by more than supply chain problems or this article: U.S. Food Prices Are Up. Are the Food Corporations to Blame for Taking Advantage?

Costmenu can help restaurant owners address the concerns noted above as we provide the following solutions:

Maintain Real Time Food Costs.

Tracking food cost and prepared item costs are critical to make sure menu items are priced right in order to get the proper returns. See in real time the effect of inflation and adjust with proper insight versus a 'gut reaction'.

The Menu Builder feature by Costmenu provides flexibility.

Costmenu provides an easy way to keep printed and digital menus updated. In addition, Costmenu's QR Code label maker and document storage is great for digital menus if and when prices are fluctuating or if menu items are removed.

Find where to save money using Costmenu.

Our pricing options are very cost-effective and will help provide the insight in order to make informed decisions on menu pricing, and where to cut costs elsewhere. Our system will pay for itself with the just information gleaned from analytics.

About Costmenu:
Costmenu is a food/menu/recipe costing software that offer many advantages over excel spreadsheets and other inventory management programs. Costmenu integrates a powerful dashboard, food, prepared, and menu item costing features, menu building features, custom qr code label makers, document storage, event/catering management features, data security, performance measurement, data analysis and comparisons, CRM, and generation of various reports. For more information on Costmenu, visit https://costmenu.com, email sales@costmenu.com, or phone (949) 274-4814.