How can I monitor outgoing stock for a food-cart business?
I'm about to start my food-cart business in September. I would like to know if there is a system for monitoring the the amount of stock that I use. I'm planning to hire someone, and I want to avoid pilferage.
For this type of business, you can determine a trend per dollar sold. Once you know your approximate level used per dollar level of sales, you can benchmark it and use it as a foundation for sales and to make sure your employees are honest.
It's a simple, common-sense system--and one that can help you as you expand.
All the best.
Brad Sugars is the founder and chairman of ActionCOACH. As an entrepreneur, author and business coach, he has owned and operated more than two dozen companies including his main company, ActionCOACH, which has more than 1,000 offices in 34 countries.