The Lynx Purchasing GP Calculator App has been downloaded by more than 10,000 chefs and hospitality professionals.
The free app, offered by buying specialist Lynx Purchasing for Apple and Android devices, passed the 10,000 download milestone at the start of 2015.
With industry analysts forecasting strong competition for consumer spend in the year ahead, the app helps operators manage margins and calculate menu prices simply and efficiently.
Lynx Purchasing managing director John Pinder said: “Whether launching new menus, offering specials, or running promotional offers to stay competitive in a quickly-changing market, maintaining the target gross profit is at the heart of a successful foodservice business.
“Using our free GP app gives chefs and managers the information they need to cost dishes and negotiate with suppliers, using a smartphone or tablet. The fact that more than 10,000 professionals across the industry are now using it shows how foodservice businesses are embracing the digital revolution to compete effectively.”
The GP App is the first digital product to receive the Craft Guild of Chefs endorsement, and allows users to manage their menu costs using one of three calculations:
- By keying in the cost of ingredients and target percentage GP, users are given the correct price to charge on the menu;
- Entering the menu price and required margin gives the target cost price for ingredients;
- Keying in the cost of ingredients and selling price of a dish gives a readout of the gross profit being made.
Giles Fry, managing director at Snug Bars – one of Lynx’s customers – said: “The market is at its most competitive at the start of the year, with customers eating out less often and looking for good value when they do.
“Fixed-price meals and set menus can be a useful way to bring in extra customers, especially at quieter times of the day or week, and quite often need to be implemented quickly in response to other operators’ offers.
“You may not always be achieving your ideal GP when you offer a set-price deal, but you can balance that against the additional revenue generated. It’s still essential to know what GP you’re achieving, and using the Lynx GP App means we can keep tab on margins when we flex our food offer. ”
Lynx Purchasing works with more than 2,200 businesses including bars, hotels, pubs, restaurants, care homes and education providers. Lynx offers caterers access to the best prices in the market, with no fees or contracts. Lynx customers also benefit from detailed market insight, enabling them to plan menus more effectively.
To download the free Lynx GP Calculator App, go to Lynx Purchasing GP Calculator App for Apple iPhone and iPad and Lynx Purchasing GP Calculator App on Google Play for Android devices.