Food Costs per Person
Why it’s important
Food costs are a necessary expense within Residential Care. By measuring these costs against the current number of occupants, providers can get a clearer picture of how much money is being spent on meals per person. This metric can be be interpreted two ways – a firm may wish to reduce its costs in order to increase overall operational efficiency; alternatively, it could choose to flaunt its statistics and use them to market itself as a care provider, which truly cares.
How to create it
To calculate Food Costs per Person, you’ll need to know:
- Food Costs
- Number of People
Number of People is a non-financial metric which will need to be uploaded into FUTRLI via CSV. Food Costs should be sourced from your accountancy platform of choice.
Food Costs per Person can be expressed by dividing Food Costs by the total number of people.