Episode 47

Use Menu Engineering to Combat Rising Food Costs and Inflation

Published on: 1st June, 2022

Inflation is hitting home for restaurant owners as the cost of food and other essential products have been on the rise for months. Across the industry, restaurant owners have been raising prices on the menu just to keep up with this record increase in costs. In fact, since the beginning of 2022, your food costs have risen at such a fast pace that if you haven’t made changes to your menu by now, you've probably lost 1-3 percentage to food cost. While I have no problem raising prices, especially on your top one, two or three items in each section, it’s getting dangerously close to a point where your guest looks at what they pay for a meal and it doesn't equal the value of what's on the plate. At some point in time, you won’t be able to just keep raising your prices. What's a restaurant owner to do? It’s time to use menu engineering and in this episode of “The Restaurant Prosperity Formula,” I’m teaching you how to do it in your restaurant. You’ll have answers to what data and systems you need to get started, the changes that will have the biggest impact, how to decide what to increase prices on and what you need to do personally to make it work. Menu engineering or re-engineering your menu is one of the biggest strategic planning things you'll ever do as a restaurant owner. With the right information, you can get ahead of rising food costs and inflation, and shift to the proactive management style you need to be successful.

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About the Podcast

The Restaurant Prosperity Formula
For Independent Restaurant Owners
If you’re ready to stop being a prisoner in your restaurant and finally have the life you’ve been working for, you are in the right place. Podcast host David Scott Peters has been coaching restaurant owners since 2003 how to transform their restaurants and their lives by becoming the leader their restaurant requires for success. He has taught thousands of other restaurant owners how to do less and lead more, how to delegate and trust their teams, and use task-based systems to make it all work. The lessons he teaches and the solutions for the moment he offers are based on his Restaurant Prosperity Formula. To learn more about David and his formula, visit davidscottpeters.com or pick up a copy of his book, "The Restaurant Prosperity Formula: What Successful Restaurateurs Do."

About your host

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David Scott Peters

David Scott Peters is a restaurant coach and speaker who teaches restaurant operators how to cut costs and increase profits with his trademark Restaurant Prosperity Formula. Known as the restaurant expert in the industry, he uses a no-BS style to teach and motivate restaurant owners and managers to take control of their businesses and finally realize their full potential. Thousands of restaurants have used his formula to transform their businesses.