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Restaurant franchise inventory management gives you a measure of control over the daily bustle of your restaurant business. When you can make your inventory work for you, you’ll have an easier time managing daily operations. That helps you to achieve operational efficiency and join the best restaurant franchise businesses.
Planning for your franchise inventory management is a key part of planning your business in general. From writing your franchise restuarant business plan to managing your restaurant franchise hiring to risk assessment for a restaurant, planning for inventory of all sorts of supplies is a constant. When you’re learning how to franchise a restaurant business, learning about inventory management helps.
In this BinWise blog, we’ll walk you through the process of restaurant franchise inventory management. From general tips to software support, we’ve got you covered.
What Is Franchise Inventory Management?
What is franchise inventory management? To answer this question, it’s vital to have a deep understanding of inventory management in general. Restaurant inventory management rests on the principles of keeping your inventory organized and ready for use. This makes it easier to provide exemplary customer service.
Restaurant franchise inventory management retains this principle, and in some ways it goes beyond. As a franchise owner of the whole franchise, your inventory management needs include making a detailed plan your other locations can follow with ease. For those owners, franchise inventory management is about keeping up standards to match the parent company.
How to Organize Franchise Inventory
Learning how to organize franchise inventory management will help set you up for success. The inventory process can get away from you quickly if you get muddled with it. If you start with less management than is needed, it’ll be difficult to catch up. For that reason, organizing your restaurant franchise inventory management plan from the start is crucial.
There are two sides to organizing restaurant franchise inventory management. Those are the software and support side, and the physical inventory management side. These days, inventory management isn’t all spreadsheets and physical counts. It’s made much easier with all manner of software support. Ultimately, you need both sides of the puzzle for the best inventory management.
Franchise Inventory Management Software Support
Franchise inventory management software support is the heart of your restaurant franchise inventory management system. It gives you peace of mind over keeping meticulous notes and wracking your brain over your reorder point. It also gives you the ability to do more with the rest of your business, with the time saved by software usage.
These six types of restaurant franchise inventory management software cover all the bases of your business. When you think of inventory management, consider the entirety of the business. Inventory is about more than food and drinks, it’s about everything you need to keep moving forward. These categories cover all those areas of need.
6. Accounting Inventory Software
5. Inventory Counting Software
4. Order Management Software
3. Employee Management Software
2. Perpetual Inventory Software Support
1. Beverage Inventory Software
6 Key Components of Franchise Inventory Management
The software aspects of restaurant franchise inventory management provide support and structure for the physical aspects. These physical elements are focused on every physical item in your restaurant that sees regular use. Some of these items are smaller inventory requirements, while others are weekly purchases.
Overall, these six areas of the physical inventory of a restaurant franchise cover all your areas that see regular usage. From food and beverage inventory to cleaning supplies to items for your employees to be comfortable at work, there’s plenty to buy. Going through these categories to sort your lists will help check all your boxes.
6. Beverage Inventory
5. Cutlery and Dishes Inventory
4. Cleaning Supplies Inventory
3. Design Aspects Inventory
2. Employee Support Inventory
1. Ingredients Inventory
"Key Takeaway: Restaurant franchise inventory management gives you a measure of control over the daily bustle of your restaurant business. When you can make your inventory work for you, you’ll have an easier time managing daily operations."
Frequently Asked Questions About Inventory Management for Franchises
The different parts of restaurant franchise inventory management give you a lot to work with and understand. It will take a while before it becomes second nature, and there is always more to learn and adapt into your system. Our answers to these frequently asked questions will get you started. With these, you’ll find different places where you can continue to learn and grow.
How Do You Manage a Franchise Restaurant?
To manage a franchise restaurant, you use all the same tools of general restaurant management. There's also the added need of a wider scope in your planning. If you’re the owner of a singular franchise location, your management should take into account the broad goals of the franchise business. If you’re the parent owner, your management will cover all locations.
What Is the Best Inventory Method for Restaurants?
The best inventory method for restaurants is a perpetual inventory system. A perpetual inventory system gives you the task of tracking the purchase, organization, and sale of every piece of your inventory. In return, you get the most accurate inventory records, so you always have a secure view of what you have and what you need.
What Do Restaurants Use to Keep Track of Inventory?
Restaurants typically use a mix of a great POS system, barcode scanners, and electronic records to maintain inventory organization. Together, these support systems and practices give restaurants a clear view of their inventory needs, from glassware to call drinks. This makes it easy to manage inventory and not worry about it on a daily basis, because it remains organized on a constant basis.
What Is a Restaurant Inventory Management System?
A restaurant inventory management system is the structure you set up to manage your inventory, and it can also be specific software support. Overall, it’s both, because your system typically will include software support. A restaurant inventory management software gives you the detailed guidelines of what your inventory situation is and what you need to do for maintenance.
What are Six Techniques Small Businesses Use to Manage Inventory?
Six common techniques small businesses use to manage inventory are:
- Utilizing forecasting for restaurants to see how your inventory will need to wax and wane in the future. That way, you always have the right amount of inventory.
- Using a POS system that fits your needs, so you can keep track of the monetary side of inventory management.
- Maintaining a consistent inventory schedule, to avoid falling behind.
- Following the first-in, first-out method, to keep your inventory, specifically your food and beverage inventory, fresh and safe.
- Using your surplus inventory, to avoid food waste, dead stock, and disorganization.
- Measuring inventory variance, with regular analysis of variance, to stay on top of it. You can use the formula for variance to ease the process.
These six techniques are great for inventory management practices no matter the size of your business. They help small businesses grow, and they help established businesses remain successful and profitable.
Inventory Management for Franchises: Management for Long-Term Success
Franchise inventory management makes it easier to work through the moving parts of a franchise restaurant business. When you’re looking for your inventory support, reach out to BinWise, BlueCart, and Revolution Ordering.
The BinWise Pro beverage inventory program gives you peace of mind when you take inventory. BlueCart’s order management software simplifies your order management system. The Revolution Order One Enterprise support program makes it easier to manage across multiple locations.