True Cost of a Food Safety Recall

48 million people in the US that get sick from a foodborne illness each year!

In addition to the innocent people simply eating food they assumed to be safe, a food safety recall is devastating to a business in many ways. A business that issues a food safety recall, for any reason, will feel its consequences for years to come. A comprehensive study reported...

“Over 81% of survey respondents described the financial consequences of a recall as either ‘significant’ or ‘catastrophic.’ ”

Here’s a quick breakdown of the true cost of a food safety recall and our solution to help avoid these regrettable food borne illness events.

4 Biggest Food Recall Financial Exposures

  1. Lost Profits From Business Interruption - The largest financial impact, up to $30 million and even higher, comes from business being suspended to address the recall.
  2. Recall Execution - Storing, transporting or destroying products, supplying replacement products, or public relations to manage reputation or brand damage.
  3. Liability Risks - Potential lawsuits, class action suits, settlements, attorney and court fees add up.
  4. Brand Reputation Damage - Potentially, the hardest factor to recover from is the loss of business due to lost consumer trust in your brand and products. It can take years!

Lower Your Food Safety Risk

A food recall is extremely tough on a business. Does your food safety program include everything needed to lower the risk of a foodborne illness outbreak?

Our latest research:

 

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