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Restaurant Menu Pricing: How to Set Prices That Boost Profits And Keep Customers

ChowNow

Menu pricing isnt just about covering costsits about finding that sweet spot where profitability, customer perception, and operational reality meet. Set prices too low, and youre leaving money on the table. Somewhere in between is the number that makes sense for your food costs, your market, and your restaurants unique position.

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How Is Inflation Affecting Restaurants?

Modern Restaurant Management

You can't scroll news sites without seeing more articles about inflation, but was does it mean for restaurants? Those who don’t are effectively lowering their prices. Understand if your prices are keeping pace with inflation and maintain a markup that matches the costs associated with paying suppliers and staff.

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What Can I Do to Reduce My Restaurant Supply and Labor Costs?

Modern Restaurant Management

Nobody has time for that when there is a crowded dining room, to-go orders flying out the window and customers complaining about their favorite menu items going up in price. We’re going to park this one here until a little later in this article. Take food cost management for instance. Are your food costs below 30 percent?

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WILL THE RESTAURANT EXPERIENCE BECOME IMPERSONAL

Culinary Cues

Customers are becoming more discerning about value and anxious about the price of a meal (from quick service to fine dining). Technology can save restaurants money, help them become more efficient, reduce dependence on a qualified labor pool, and trim some reliance on a challenged supply chain. This must be the answer right?

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Franchise Portfolio Diversification: Trends Taking Shape in 2022

Modern Restaurant Management

From full service to fast-casual to legacy fast-food brands, the one constant was disruption. Labor shortages and other factors are affecting the global supply chain in never-before-seen ways, and certain commodities are intermittently not available, or if they are, they’re expensive.

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Navigating the Supply Chain in the Restaurant Industry

Goliath Consulting

Since the start of the pandemic, safety measures such as social distancing, lockdowns and mask-wearing have completely changed our understanding of how consumers spend on food. We saw customers stockpiling on groceries and supplies in homes instead of going out to eat, raising retail sales by 29 percent over the previous year (1).

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How to Calculate and Improve Your Bar’s Profit Margin

7 Shifts

A bar is a profitable business option if you’re looking to enter the food industry. It just goes to show how important drink pricing and cost management are to maximizing profits. It just goes to show how important drink pricing and cost management are to maximizing profits. This final number is your net profit.