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Myths & Realities of F&B Costs

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Are you feeling the squeeze of increasing food costs on your event budget? From the bird flu to droughts, requests for organic to special dietary needs, managing your F&B can be challenging. What can you do to meet these challenges? In this session, we’ll discuss the myths and realities of whether locally sourced is more affordable or more expensive, how important is to know about dietary restrictions - whether a trend or allergy and provide options that are cost effective and customized and locally sourced. You’ll walk away with tips on how to conserve and control cost, successfully manage needs and reduce financial and legal risk.

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Myths & Realities of F&B Costs

  1. 1. Myths Realitiesof Food & Beverage and Cost &presented by Tracy StuckrathCSEP, CMM, CFPM Thrive! Meetings & Events @tstuckrath
  2. 2. ©December 2015 | Thrive! Meetings & Events | @thrivemeetings essential learning components Plan special requests meals & stay on budget Plan meeting 
 F&B while fulfilling special needs.Evaluate Myths & Realities of F&B
  3. 3. Buffets and 
 Hors d'oeuvres Receptions are Less Expensive than Plated Meals. MYTH
  4. 4. ©December 2015 | @thrivemeetings REALITY Buffets and receptions can cost the same or more than plated meals. • Depends on the event • Staffing the same • Food quantities • Removing items don't 
 affect cost
  5. 5. MYTH Labor does not effect catering fees. 
  6. 6. ©December 2015 | @thrivemeetings • Biggest impact on catering charges • Union vs. non-union location  • Food preparation methods • Action stations • On-premise vs. off-premise REALITY Labor costs definitely impact 
 catering charges.
  7. 7. MYTH Local Sourcing is 
 Cost Prohibitive
  8. 8. ©December 2015 | @thrivemeetings • Corporate policies • Flexibility • Commitment of caterer • Volume • Customization of menu • Labor REALITY It depends on caterer, local market, season and amount of product needed.
  9. 9. ©December 2015 | @thrivemeetings MYTH Restaurants are more expensive than
 off-premise catered events.
  10. 10. Caterers have to bring “everything.”REALITY
  11. 11. ©December 2015 | Thrive! Meetings & Events | @thrivemeetings MYTH Guests are not focused on healthier and smaller portions
  12. 12. ©December 2015 | Thrive! Meetings & Events | @thrivemeetings • 91% healthfulness of F&B • 82% eating more fruits & veggies • 69% cutting back on sugar • 68% consuming smaller portions • 4:5 trying to lose/maintain weight • Food types = weight management REALITY People are more health conscious and want to maintain it on the road. Source: IFIC 2015 Food & Health Survey
  13. 13. ©December 2015 | Thrive! Meetings & Events | @thrivemeetings MYTH Suppliers are not flexible on their pricing.
  14. 14. Heating, lighting, labor, season and commodities all affect priceREALITY
  15. 15. ©December 2015 | Thrive! Meetings & Events | @thrivemeetings vegan MYTH Special meals for attendee dietary restrictions cost more. vegetarian Kosher organic diabetes egg allergy paleo non-GMO
  16. 16. ©December 2015 | @thrivemeetings • Event F&B History • Types • Planning Process • Quantity • Customization of menu • Labor REALITY It depends, but it most cases it should be negligible.
  17. 17. ©December 2015 | Thrive! Meetings & Events | @thrivemeetings MYTH There is no liability or risk associated with F&B programs
  18. 18. ©December 2015 | @thrivemeetings • Food Safety • Workplace Safety Laws • Disability Laws • Allergen Labeling Laws • EU 1169 • Stock Epinephrine REALITY There are definitely liabilities that fall under our duty of care.
  19. 19. ©December 2015 | @thrivemeetings Controlling Costs • Smaller portions • Flexibility • Shorter Events • Gang/Marry Menus • Honest with Budgets • Know Your Waste Factor • Cut down catering portions
  20. 20. ©December 2015 | @thrivemeetings Controlling Costs • Partner with Chef • Help Save Labor • Variety • Shorter Events • Before contracts are signed • Honest with Budgets
  21. 21. “The shared meal is no small thing. 
 It is a foundation…” ©December 2015 | Thrive! Meetings & Events | @thrivemeetings Michael Pollen
  22. 22. ©December 2015 | Thrive! Meetings & Events | @thrivemeetings (404) 242-0530 tracy@thrivemeetings.com www.thrivemeetings.com @tstuckrath thrivemeetingsevents Tracy Stuckrath www.thrivemeetings.com/PCMAmyths

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