Drive ProfitabilityBy FestivalNet, posted 07/17/19 10:51:01
Boosting Your Food Truck's Menu Profitability
By Richard Myrick for Mobile Cuisine
Your menu's pricing is the most important factor in determining profitability. It's what generates 100% of the revenue for most food vendors. So, it's critical that you invest time in developing a definitive strategy to build menu profitability.
The first step is to know your current menu offerings: how many of which items you're selling, at what time and what location. Use point-of-sale data to understand demand for items and how the product's volume compares to its overall profitability.
Know your costs
Not all of the items on your menu are created equal... in profitability. Unless you know exactly what you're paying for each dish, you won't really know your money-makers, which items you should suggest more often, the items on which you should raise prices, or which items you might consider dropping altogether. A good first step in figuring out your real costs is to update your inventory list with accurate, current prices.