1. Keep a line of credit :- This don't refer to give credit to customer, instead this implies that after investing in capital of our business we should keep some amount as line of credit. The amount should be able to run our business for minimum of 3-6 months ( it should covered our fixed cost at beginning time)
2. Minimize overhead :-we have to minimize our overhead because everything we spend in our business eats our profit . We should give special care in our purchases to minimize cost.
3. Monitor income and expenditure :- we have to know form where our every single rupee is coming and to where it is going. If we monitor our income and expenditure we will have good control towards our business
4. Invest Appropriately :- we have to be smart in investing . We should not invest without researching .
5. Keep professional and personal finance separate :- we have to keep our personal and professional finance separate or else, it will affect our business very much.
6. Maintain cash reserve :- Maintaining of cash reserve might helps us in emergency situation for that we could open a bank account and start saving from some amount of our monthly profit .
CATERING CONSIDERATIONS OF FAST FOOD
Some catering consideration for fast food operations are :-
1. Plating Food :- No matter which form of plating we used , it is very important to use good presentation of food. It will be our first impression of food quality towards our customers. Different things should be considered while plating food like controlling of portion so that our every customer gets same Portion everyday . Similarly best side of food should face top and always add garnishes .
2. Style of service :- style of service can range from casual to formal. It will affects our pricing . We should planned which style of serving are we going to offer. If we are going to offer higher class service then our prices are also going to be expensive as we need high quality cutleries, crockery and skilled manpower
3. Menu offered :- Menu offered is another catering consideration Factor. We have to know what food items will we be serving to our customers .
4. Customer requirements :- We have to consider our customers requirements i.e what does our customers want? We should be totally customer focused because he is going to pay for our service and eat . If we are not customer focused we will be loosing profit along with customers
5. Cost :- It is the main factor that matters anywhere ,no matter what types of business. The more customer pays , the more elaborate and attentive service can be expected.
6. Time available :- It is the time available for people to eat and for us to cook. If we are located in business areas/ Factories / Companies near we have to list meal and prepare such which don't require much cooking time because they don't have long time to wait for meal and eat. Similarly, if we are located in fancy place/ Tourism spot fine dining will work good. We have to study the market segment and find out time available.
Note :- Our food cost , labour cost and overhead costs should be always controlled if we we want to succeed in our business but controlling doesn't meant looking on very very small items like cutting employee meal, cutting employee tea/snacks . Unless, our employees are satisfied at first they cannot satisfy customer and saving some rupees from employee meal is not going to make us rich- it is going to make our business more miserable . Always Remember, Motivation is the key!!
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