The Hidden Battle We're All Facing - Inflation

 Did you know that in 2018 the average cost of a gallon of milk in the U.S. was $2.90.  And by 2023, the same gallon of milk averaged $4.49.  This is an incredible increase.  And one that very few are talking about.

I’m not just talking about increasing your menu price to cover your additional costs.  I’m talking about you. The business owner.  And if you have adjusted YOUR pay to make sure that you are increasing your salary to match the inflation you are seeing in your personal life. 

In short.  The game has changed.  And it isn’t enough to just focus on our cost of goods margins and wages.  We need to focus on PROFITS.  Your profits.  And YOUR profitability as the business owner.  

Those in the corporate world receive wages annually.  These raises aren’t just based on performance, they are in line with annual inflation so that the employees have in real dollars at least the same money they had in prior years. 

But with everything that has been thrown at the hospitality industry in the last few years, many have lost sight of inflation.  And sadly, if we aren’t talking about it, chances are the dollars you are bringing home feel like less than they were 5 years ago. 

But the good news is that we can focus on inflation.  And it isn’t just about raising our prices.  It is about building an awareness of the dollars you need to bring home monthly to make your life work.  By focusing on your profitability first, we are able to build a road map to make your business model work in 2024 and beyond. 

So are you ready to stop avoiding the topic of profits? 

Are you ready to look at your operations through a new set of eyes with the goal of transforming to the business you must be today to be profitable? 

Schedule a call today to review your last 3 years of profits and to build out a game plan to tackle inflation in the next 30 days. 

Let's Go!