The True Cost of Fare Food
January 6th, 2020
The True Cost of Fare Food
At some point I imagine you’ve wondered why something costs what it does. Perhaps it happens multiple times a day. Fare wants to make it easier to understand business expenses by showcasing our true costs of Fare food (and labor, and OpEx and rarely net profit).
We have always spent a lot of money on food and people, because we’re a social enterprise. Even when we’ve struggled to pay bills, we haven’t wavered on our values and subsequently, costs. This is a core tenet of knowing your business - nailing your business’s social principles and practices. Not knowing what or why things cost what they do, or not knowing how and when to prioritize the cost of values, you can easily lose both your shirt and your business.
We’ve developed these costs over many years of costing, monitoring, spreadsheeting and tinkering. It’s not an exact science but we try to get as close as possible. If you want to learn more about how we’re evolving transparency within our business model, you can subscribe to our blog where we peel a layer of the onion back to give you more insights into how a social-enterprise food business is run. It may make you cry to know how hard it is, if you don’t know already.
Transparency in our work is one of our core values, which is why we wanted to lift the veil and inform our community about some true unit economics. For more questions about our expenses and why we’ve chosen to structure our business this way, reach out to me at gabriel@fareresources.com. I’m an open book (of financials)!