How profitable is your catering business? Some caterers experience a pretax profit of over 25%, while others are barely able to show a profit. The average pretax profit for caterers is between 7% and 8%. Having an accurate, up-to-date picture of how your catering company is performing financially is crucial.
Owners and operators are hampered by being “small fish” in a big purchasing pond, lacking the collective buying clout required to be able to negotiate the best prices. They’re discovering that “do-it-yourself” procurement is not as simple as they had hoped and are now realizing that they don’t have to do it alone.
With new restaurants, more menu choices for in-room dining, high-end buffets, and new gaming table snacks casino operators must be smart about food and beverage purchasing. Many casino operators are opting to work with purchasing partners to help them lower food costs and generate additional revenue.
In the hospitality industry, whether you are running a hotel with food and beverage services or a managing full service restaurant or managing a catering company, pricing food is always the key to profits and it’s more important than ever before.
Our purchasing solutions will help you meet the needs of your diverse stakeholders. Your employees will do their jobs more efficiently and you will have help managing the financial expectations of senior management and, most importantly, it will help you provide exceptional guest experiences.
This combination of unpredictable external factors and evolving customer demands are creating problems for hospitality professionals. Food service operators need to stay aware of consumer preferences and try to source the trending and popular ingredients from local suppliers, all while managing their food budgets in a volatile market with ever-changing commodity prices.