Like you, I used to trust my vendors to give me the best possible price and believed that week-to-week price changes were normal. Then I started digging into the details. Comparing vendors, asking questions, I dug for hours a week for months and what I found took me on a journey into food cost that forever changed how I operate.
Managing the buying for four different restaurants, trends emerged and I realized that having those four restaurants was an advantage because I could negotiate better prices. And I realized that vendors were gouging me. I learned to spot it by comparing vendors and tracking prices.
By paying close attention to my vendors, my food costs went down fast.
Then I started talking to other operators about their food costs. Reviewing their invoices I was able to point out fast who was getting gouged. It’s amazing how much more some people pay vs. others.
So the idea of a group or restaurants coming together began to take shape. Together I put together a band of restaurants so I could negotiate on their behalf, and immediately reduced their food cost. For some partners in the group, costs went down by 30 percent, for others by 20 percent, but everyone saved money week one.
Now it’s your turn.
Let’s take a look at your invoices and see how much money you will save next week.
We are a group of 50 restaurants in the Bay Area and Central Coast and we are now looking to bring on new partners to gain additional buying power and pass on the savings because every dollar counts.