With the year that we’ve had thus far, every business owner is seeking solutions to balance their books and cut their expenses. Although we don’t know how long the pandemic will impact the industry, the one thing we know is that those who spend less and earn more will be in the best position to sustain their businesses through to the other side. Our profit margins are always a top consideration, but especially in this period where we’re making up for lost time.

With a bit of creativity and forethought, you can restructure your processes in order to reduce your cost of goods while continuing to serve your clients with a top-tier experience that brings in the revenue. Here are a few strategies to implement if you’re looking to increase your profit margins.

Today, we’re putting a special spotlight on one of our most valuable partners: Lon Lane, founder of Lon Lane’s Inspired Occasions based in Kansas City. Lon and his wife, Marcia, started their catering company in 1991 to serve the hospitality needs of Kansas City’s top corporations and prominent citizens.

Having operated for over 30 years, his catering company has been prepared to weather virtually any storm — yet, COVID-19 still took the industry by surprise and has had quite an impact on all event business. We spoke with Lon about how his company has adapted to the times amidst a global pandemic.

Today, we’re shining the light on an expert in the catering field: Robin Selden, the Executive Chef for Marcia Selden Catering & Event Planning. Her mother, Marcia, launched her company over 30 years ago and it has been a family business ever since, with Robin at the reins in the kitchen.

Robin generously made some time to speak with us about her team’s adjustment to COVID-19 and how they continue to navigate through these uncertain times.

Smart business owners know precisely where their books stand at any given moment, including the cost of goods required to keep their companies afloat. In the food industry, prices are always fluctuating based on the market and all the factors that impact supply and demand.

This year, the coronavirus pandemic had had a significant effect on food costs as supply chains have been interrupted and, with restaurants closed and events canceled, food demand has been unpredictable and, thus, prices have followed the trend.

In the world of catering, it’s all about the food. At the end of the day, your clients (and their guests) will most remember the quality of ingredients and the beautiful flavors that you strung together for their meals. Even the best customer experience can’t make up for subpar food (although, the opposite could be said as well!)

Thus, your relationship with your food supplier becomes a valuable asset — it’s not as simple as skipping over to the grocery store; sourcing ingredients is an intimate process that is more efficient and sometimes more cost-effective when you know where it’s coming from.

Think about the mutually beneficial relationships you’ve developed with venues, rental companies, planners, and other event professionals. The same goes for the food industry; a strong relationship means regular income for the food provider and more access to products in bulk or at a discount, often at early notice.

Here are four things you can do right now to grow your relationship with your food supplier.