Quick Service Restaurants (QSRs) operate in an extremely competitive space. Both existing competitors and new ones (with innovative product lines) are doing their best to cannibalize your share of the customer wallet.
What must a QSR do to improve its business performance? Spend more on marketing to attract and retain customers? Compete on price? or Aim for more efficient operations to improve margins?
Well, you can do all three and more. But if there was one aspect that you could focus on, it would be waste minimization.
How to get insights on wastage
Reducing wastage is on every QSR chain’s wish list but is seldom worked upon. The reason: it’s not easy to calculate the wastage. Following is a simple way of calculating wastage.
The aggregation of the total cost for food and complementary packaging of all the menu positions that cannot be sold due to expiry date or other quality issues.