Foodservice Profitability Assessment
Make Foodservice More Profitable
Foodservice is one of the most important offerings of a convenience store and represents the highest opportunity for differentiated growth. Unfortunately, many convenience retailers find themselves operating a food program that contributes to top-line sales while bottom-line profit is eroded by high waste and labor costs. Understanding how to successfully operate a compelling foodservice program that drives “mission meal” trips while contributing a positive net income is critical.
A proven, in-depth foodservice assessment that examines every facet of a foodservice operation – from menu uniqueness and kitchen design to price positioning, operating standards, and labor structure – is essential to running a profitable program with market-staying power. When your internal teams are furnished with a step-by-step food assessment plan complete with specifics for improving gross margin and reducing waste and operating costs, you build the internal capabilities to lead a profitable food program.
With the Impact 21 approach to Foodservice Profitability Assessments, you benefit from:
Internal reviews and benchmarking. Identify the challenges and opportunities in all aspects of your foodservice program from financials, technology, customer engagement, and branding to store layouts, menu, waste, and price/promos, as well as training and safety. Conduct competitive company benchmarking and best practice review.
Item level profitability. Analyze the components of true item-level profitability by capturing the end-to-end cost of procuring raw ingredients through the final sale.
Sourcing techniques. Apply innovative approaches to optimally procure commodity ingredients and achieve the lowest cost of goods from food manufacturers and distribution partners.
Technology potential. Harness available technology to enable online ordering and delivery, personalize the guest experience, and more accurately plan food production, monitor waste, and improve inventory management.
Work design. Create a labor design and production workflow to utilize space and labor most efficiently.
Convenience store concepts need to have strong consumer appeal and operate efficient service models to stay ahead of the competition. Impact 21 has helped numerous clients to evaluate their foodservice offerings and provide a customized playbook of solutions that has significantly improved foodservice profitability.