article thumbnail

Is There a Right Way to Raise Prices?

Modern Restaurant Management

Due to many factors including inflation and supply chain challenges, restaurant owners and operators have been faced with tough choice about raising menu prices. As food prices rise, restaurants should try to stay within their target ratio for food cost to gross food revenue in order to maintain target profits.

Pricing 192
article thumbnail

Supermarket Food Waste Is a Big Problem. Is Dynamic Pricing the Solution?

EATER

In the bread aisle, you see two loaves identically wrapped; both are perfectly edible, but one is a day older and costs half the price. In the bread aisle, you see two loaves identically wrapped; both are perfectly edible, but one is a day older and costs half the price. The price is changing throughout the [time] horizon.”

Waste 124
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Four ways for small and medium-sized coffee roasters to manage price risk

Perfect Daily Grind

In the coffee industry, larger roasters generally have a greater capacity to manage price risk, but small and medium-sized roasters also have tools at their disposal. To learn more about how coffee roasters can manage and minimise the impact of price risk, I spoke to some industry experts to learn more. What is price risk?

Pricing 166
article thumbnail

Restaurants Can Score Big for the Super Bowl

Modern Restaurant Management

Play The Field : Some Super Bowl viewers prefer to watch the game in the comfort of their own homes, but that doesn’t mean you should lose out on sales. Is inflation still driving wing prices? The price of many staple items is continuing to increase throughout the beginning of this year.

article thumbnail

Restaurant Forecasting: How To, Formulas, Methods, and More

7 Shifts

In this post, we'll walk you through everything you need to know about restaurant sales forecasting - from the reasons why to forecast, to steps on how to create forecasts accurately, to what you should consider when forecasting for your restaurant. Restaurant Sales Forecasting Method & Techniques. Table of Contents.

article thumbnail

Tipping Divide Is Not Too Wide

Modern Restaurant Management

Among the highlights: When it comes to pre-set tip amounts, 43 percent of tipped workers say that predefined tip amounts on point-of-sale systems are actually helpful to both guests and servers. At SpotOn, we’re seeing handheld point-of-sale devices speed up the order and payment process.

article thumbnail

How to Save on Credit Card Processing Fees

Modern Restaurant Management

The difference between surcharging and cash discounting Simply put, surcharging is a service fee added to the bill, whereas cash discounting offers customers a lower price for paying in cash. Cash discounts are done by raising your prices and offering a flat discount for cash payments.