| "body"> | | | | you how many restaurants never did inventory, |
| Restaurateurs are some of the most creative | | | | you'd understand all the failures. Inventory is how |
| people I know, I've never seen more small | | | | you control cash flow, if you over order, your |
| businesses opened on a credit card, or without a | | | | money is tied up in something that has no value, |
| lot of cash. It's phenomenal to think that people | | | | cash is king. Proper inventory involves work, it's |
| can't find the money for a down payment on a | | | | not easy keeping up with your inventory on a |
| house, yet restaurateurs open restaurants every | | | | daily basis. This is exactly what it takes to |
| day without any money in the bank. Our industry | | | | maintain proper food and liquor costs, while |
| is alluring and provocative. People are throwing | | | | minimizing theft and spoilage. |
| their hard earned money to be part of the glamor | | | | The old adage of taking inventory once a month |
| our industry is known for. Everyone wants to be | | | | is dead, you need to take a complete inventory |
| a big shot, or work the dining room on a busy | | | | once a week. Imagine that you are in a seasonal |
| night. Friends call you, begging for a reservation | | | | business, July and August are your peak months. |
| when you're sold out. Many of us don't have | | | | If you take inventory monthly and your July |
| college degrees, our credit cards are maxed out | | | | numbers are way off, you won't even realize it till |
| and yet doctors, lawyers and engineers are | | | | probably mid August, by that time your season is |
| envious of us. | | | | over and you just blew your year. Control your |
| The problem with our industry is, most | | | | cash, implement systems with checks and |
| restaurants fail. The percentages are staggering, | | | | balances. We periodically have someone from our |
| yet when restaurants fail, there is always | | | | office audit the inventory process with the Chef |
| someone willing to pick up the lease and open a | | | | or Restaurant Manager. How would you know if |
| new concept in the same location. It's completely | | | | your numbers were tampered with? It's important |
| mind blowing. I look at some restaurants and I | | | | to recognize that inventory is cash, (your cash). |
| know that they won't make it before they even | | | | You would never leave a pile of cash out on your |
| open. I've spoken to many new restaurateurs and | | | | counter, you'd put it in the bank, and then only |
| I can't believe the lack of experience they | | | | after you'd counted it. Your inventory is your |
| possess, or even the skill set to give themselves | | | | restaurant's bank account, protect it like it's all the |
| a fighting chance. | | | | money you have, because in a lot of instances, it |
| Most businesses focus on marketing, the idea is, if | | | | is. Don't tie up your money in perishable products, |
| you can get enough people to come through the | | | | audit your Chef's purchasing, give him or her |
| front door, you can pay your bills. This is a great | | | | perimeters on purchasing. If you're a family |
| theory, the problem is, if you don't have systems | | | | restaurant, you don't need to purchase fresh |
| in place, chances are you'll blow the experience | | | | truffles. |
| and your customers will tell their friends of their | | | | I think if Restaurateurs spent more time |
| bad experience and probably never return. | | | | controlling their inventory, instead of walking |
| Training and systems are the life blood of a well | | | | around the dining room or lounge, comping drinks |
| run restaurant, training is an entire topic all on it's | | | | and pretending to be big shots. We'd see a |
| own. I want to focus on systems, specifically | | | | significant reduction in restaurant failures. Guard |
| inventory controls. Inventory is one of the most | | | | your inventory, count it often, protect it like it's a |
| important components in your business. If I told | | | | horde of gold, and watch your business prosper. |