Managing Food and Beverage (F&B) Cost

Introduction

In today's challenging business landscape, food and beverage profit margins face constant pressure due to rising costs and intensified competition. To ensure the financial viability of food and beverage operations, it is crucial to effectively manage costs and maximize income.

In this program, you will discover the comprehensive range of factors that impact the bottom line of food and beverage operations and gain the knowledge needed to navigate the complex environment of F&B and make informed decisions that drive profitability. Learn the intricacies of F&B cost control, from payroll and operating supplies to employee labor costs and overhead expenses. Master proven techniques for optimizing purchasing, inventory management, menu engineering, and pricing strategies. 

Explore how to effectively manage overhead departmental expenses such as utility bills, taxes, insurance, rent, and marketing expenditures. By understanding the broader financial implications and implementing efficient cost-control measures, you can safeguard the financial health of your food and beverage operation.

Whether you are a restaurant owner, manager, or aspiring professional in the hospitality industry, this program offers invaluable insights and practical tools to manage food and beverage costs effectively and secure a competitive edge in the dynamic world of Food & Beverage.

Outcome

By the end of the program, participants will be able to:

- Understanding of Cost Implications: Learn how costs flow and identify areas where cost control measures can have the most significant impact on financial performance
- Component Analysis for Cost Optimization: Analyze each component of costs within F&B operations and implement cost-saving measures effectively
- Strategic Pricing Based on Actual Costs: Learn how to align pricing with actual costs and set prices to cover expenses to generate desired margins
- Menu Analysis for Enhanced Profitability: Acquire the skills to analyze menus and optimize resource allocation to enhance overall financial performance
- Focus Areas for Effective Cost Management: Gain insights into key challenges and opportunities to effectively manage costs and improve financial outcomes

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No Topic Topic Description
1 The Purchasing processes
  • What is purchasing?
  • Product specification Format
  • Type of purchasing
  • Purchasing Methods
2 The Receiving control
  • The control Points
  • Inventory management
  • ITR
  • Receiving Facilities
3 Storing and Issuing the product
  • Storing General Procedures
  • Security Concern
  • Maintaining quality during storage
  • Inventory control
  • The requisition procedures
  • Establishing par stocks
4 Standard recipe Calculation
  • Flow in collecting and establishing standard recipes
  • Recipe Costing
  • Calculation
  • Calculation on selling price
5 Calculating actual Food and Beverage Cost
  • Monthly Calculation
  • The Basic calculation
  • The information source
  • Calculating the inventory Value
  • Adjusting the cost of goods sold
  • Component of daily food cost
  • Calculating the actual daily beverage cost
  • Procedures for calculating the beverage inventory
6 Labor Cost
  • The new normal labor costs calculation
  • Labor costs % vs sales
  • New scheduling
  • New Labor requirement

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