2025 Food Cost Predictions: How to Prepare Your Catering Business
/As of July 25, 2024, the U.S. Department of Agriculture (USDA) predicts that food prices in the United States will increase by 2% in 2025, with a prediction interval of -3.7% to 8.0%. This means uncertainty is on the horizon, but with the right preparation, caterers can turn potential challenges into opportunities. The thought of rising costs can be daunting, but don't worry – we've got some tasty tips to help you navigate these changes with ease. Imagine the peace of mind you'll have, knowing your business is ready to thrive in 2025.
Start Thinking Ahead Now
Planning ahead is crucial for saving money and ensuring smooth operations in the catering business. Start by forecasting your event calendar for 2025 and identifying peak seasons. Early planning allows you to lock in prices with suppliers before any anticipated increases. By purchasing non-perishable items in bulk during sales, you can save significantly.
Consider menu planning that leverages seasonal ingredients, which are often cheaper and fresher. Having a well-thought-out procurement strategy can reduce last-minute purchases that tend to be more expensive.
Use the Power of Catering Software
Solutions like Total Party Planner (TPP) are a game-changer for caterers. TPP helps you centralize food and menu planning, sourcing, and cost management, making it easier to create menus that fit both your budget and your clients’ desires. With TPP, you can track inventory, manage recipes, and automate ordering processes, reducing waste and ensuring you only buy what you need. This efficiency not only saves money but also frees up time to focus on delivering exceptional events. It's like having a personal assistant who never takes a day off!
Join the Forces of a GPO
Joining a Group Purchasing Organization (GPO) like SBValue can provide significant cost savings. SBValue, in partnership with Premier, uses the collective purchasing power of its members to negotiate discounts from vendors. This means you save big on your food and kitchen orders without extra research or price shopping. SBValue members save an average of 17% on their kitchen orders, making it a smart move for any caterer looking to optimize their budget. With the power of the group behind you, you can access better prices and terms than you could negotiate on your own.
Have a Business Plan
Effective business planning extends beyond just cost savings. Regularly review and update your business plan to reflect market changes and growth opportunities. Invest in staff training to improve service quality and efficiency. Use data analytics to track performance metrics and identify areas for improvement. Building strong relationships with reliable suppliers can also provide negotiation leverage and ensure you have access to the best products. Lastly, focus on marketing efforts to attract and retain clients, as a steady stream of business is crucial for long-term success. It's the gift that keeps on giving!
It’s Never Too Early To Begin Planning with TPP and SBValue
By starting your planning for 2025 now, you can ensure a smooth and successful year. With the right planning, the support of SBValue for all your supply needs, and the organizational power of Total Party Planner, your catering business will be ready to handle the new year with confidence. Cheers to a year of savings and success!
Ready for a free sample of TPP? Book a demo today!
Don’t wait to join in on the savings! Request a quote with SB Value!
