Modern Restaurant Management

OCTOBER 9, 2023

The data also supports what RMS has been advising: pricing must be strategic. Insights from transactional POS data specific to locations and customer segments can help operators assess where item sensitivities are low or high, indicating which items might have further pricing opportunities and which don’t.

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Modern Restaurant Management

NOVEMBER 15, 2022

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.

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Goliath Consulting

AUGUST 28, 2020

With how the restaurant industry looks right now, from shifting consumer behavior and volatile demand, strategically pricing a menu has never been so complicated, nor so important. Talk to your vendors about commodity price trends that impact your menu. Determine the pricing elasticity of items. Study the market.

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Modern Restaurant Management

DECEMBER 1, 2021

In October, the USDA reported year-to-date averages, noting that food-at-home (grocery store) prices have increased 2.5 percent and food-away-from-home (restaurant) prices have increased 3.6 percent, and food-away-from-home prices are expected to increase between 3 and 4 percent. If current projections from the U.S.

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Culinary Cues

OCTOBER 24, 2020

Consider this – the menu is the most important component of a successful restaurant and once designed it can, and should, impact every other aspect of the business. YES – the menu is that important! The menu comes first and should reflect the philosophy of the owners and chef and how the operators expect to be perceived by the public.

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Modern Restaurant Management

MARCH 15, 2023

Dynamic pricing would add friction to the guest experience, according to Capterra’s 2023 Dynamic Pricing in Restaurants. Sixty-five percent of consumers say dynamic pricing would make the decision of where and when to eat more difficult; 63 percent say it would make it harder to budget their restaurant spending.

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Pricing Consumer Goods Customer Experience Food Order 183

EATER

FEBRUARY 27, 2024

Fast food chain Wendy’s has announced plans to test “dynamic pricing” at its locations across the country, beginning in 2025. According to CNN, the move is a part of the chain’s $20 million investment in digital menu boards, which will allow it to tweak the price of a Biggie Bag or Frosty in real time. restaurants.”

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Modern Restaurant Management

AUGUST 2, 2023

Behind the scenes, strategic decisions greatly impact a restaurant's bottom line, and at the forefront of these is the art of menu engineering. Far from just a list of dishes, a well-engineered menu is a powerful tool that can significantly increase a restaurant's efficiency and profitability.

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Modern Restaurant Management

SEPTEMBER 9, 2021

If this means deleting menu items, don't be afraid to do it. Maybe the menu item needs a better menu description. If there is a menu item listed as "Roasted Turnips," it may not be a top seller. Before an item gets deleted from a menu, change the menu description or change the item's location.

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Modern Restaurant Management

JUNE 21, 2023

Not all menu items are created equal, nor do they contribute the same profit to the bottom line. To take advantage of everything a menu has to offer, operators can use menu engineering, a technique that consists of analyzing each item’s contribution to the profit against how often it is purchased.

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7 Shifts

AUGUST 29, 2019

Menu engineering: while the name might suggest you need to go to college at MIT to be good at it, is actually a common and essential task that all restaurateurs should regularly undertake. Menu engineering can be simplified as the steps taken to increase the profitability of a restaurant menu. Menu Pricing and 2.

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The Restaurant Times

FEBRUARY 7, 2023

Menu pricing is one of the most underestimated aspects of restaurant management. If your customers don’t think the prices on your menu are reasonable, how great your concept or your food is won’t matter much. This is where the concept of dynamic pricing comes in to help restaurants!

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Modern Restaurant Management

NOVEMBER 7, 2022

Striking a balance between value and price. As inflation continues to pummel businesses and consumers, QSRs are searching for ways to make their menus work harder. Is it possible to strike a balance between value and price to satisfy both parties? Have We Hit a Price Ceiling? Putting Value Back on the Menu.

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Restaurant Business

JANUARY 12, 2023

Prices for restaurant meals rose 8.3% year over year in December as full-service operators slowed their price increases. Inflation as a whole also slowed down in the month.

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Restaurant Business

AUGUST 3, 2023

Traffic dropped in the second quarter, but the company said consumer still see the Chicago-based brand as a great value and there's room for price increases.

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Modern Restaurant Management

APRIL 12, 2022

RMS just released our latest findings around consumer sentiment for Q1 , which revealed, among other things, that price is starting to matter—and not by an insignificant amount. When asked why they were getting less value from a restaurant visit, 82 percent reported higher prices. The sentiment has changed rapidly.

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The Restaurant Times

NOVEMBER 8, 2021

You need to carefully price your restaurant menu to make it to the top and earn as much as possible. While it’s understandable that you want to make a profit, being overly aggressive with your menu pricing can drive the customer away. It is about the right balance when applying your pricing strategies. .

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The Restaurant Times

JUNE 21, 2022

Are you rolling out a new menu? Launching a new menu lets you have some great catchy content that will level up your restaurant’s advertising game. With this, you can take advantage of your new menu’s potential and pump up your new and existing customers to try out your new items. . Well, you’re in luck!

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Restaurant365

JANUARY 4, 2022

Restaurant inventory management plays a key role in overcoming rising food prices. Logistics challenges and labor shortages have fueled rising food prices at the wholesale level. Data from the Bureau of Labor Statistics showed the November Producer Price Index, a measure of wholesale prices, up 9.6% from a year ago.

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Culinary Cues

JANUARY 20, 2024

There’s a reactionary movement that I keep seeing in restaurants; a movement that assumes the answer to the restaurant bottom line is to take more and give less or give too much to justify raising prices. A menu should thus be designed and priced to make those items seem essential.

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Chowly

JUNE 7, 2023

It’s called smart pricing. It’s a powerful way restaurants can maximize their revenue and profits with a “right price at the right time” model. Smart pricing encourages optimal capacity without sacrificing customers eager to patronize your business — here’s why.

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Modern Restaurant Management

JULY 14, 2021

“When prices change, when limited time offers have been added to the menu, when value propositions have been added to the menu board, we understand the reaction of the consumer based upon the historical data.” This takes the emotion and guesswork out of how and when to raise prices.

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The Eat Restaurant

MARCH 13, 2023

A well-thought-out menu is one of the most crucial elements of any restaurant, along with a table management system of course. Without a menu, there is no way for customers to know what they can order and at what price.

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Open for Business

FEBRUARY 21, 2024

While traditionally associated with fine dining, the prix fixe (pronounced “pre-feks”) menu has transcended its high-end roots, becoming a popular culinary trend. When curated with care and promoted effectively, this menu is a powerful tool for any restaurant, capable of making a memorable impression and drawing eager guests through the door.

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Modern Restaurant Management

OCTOBER 8, 2020

Have you ever wondered how, despite changing climates and seasons, the same leafy greens you use in your menu items are available year-round? Any weather-related issues can have a dramatic effect on supply and prices as lettuce transitions from one area to the next. In 2019, the U.S. As we know, weather is not always predictable.

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Cheetah

SEPTEMBER 30, 2021

Learn how this affects your business, from restaurant suppliers struggling to keep up, to rising food prices led by labor shortages and increased consumer demand for quick, cheap food. Energy prices are very high right now too. Restaurants Deal with Rising Prices and Delays. Labor Crisis Continues. Cheetah Tip.

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Food Supply Supplies Pricing Food 148

Bingage

JANUARY 23, 2023

You and your wife sit down to think of affordable options for a birthday treat, and suddenly on TV, the daily soap serial on Starplus breaks into ads, the very first ad you see was the Happy price menu from McDonald’s Ads. McDonald’s released a variety of creative ads over a decade ago, announcing its “Happy Price Menu”.

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Culinary Cues

OCTOBER 27, 2023

One of the dilemmas restaurateurs’ face is the approach taken with the management and delivery of a restaurant concept and menu. The menu is oftentimes a statement by the chef; a statement of his or her beliefs, likes and dislikes, and experiences. This menu is who I am.” Again, the vetting of chef candidates is critical.

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Restaurant Business

NOVEMBER 30, 2023

At the Barclays Eat Sleep Play conference, Greg Levin said consumers remember prices from four years ago and have yet to adjust to the higher cost of dining out.

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ChowNow

FEBRUARY 11, 2020

While customers might initially be delighted by the array of choices they have, the prices will leave them shocked and disappointed. In fact, for nine out of every ten of these newly added restaurants, customers are paying higher prices and having lower quality experiences.

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Restaurant Engine

JULY 28, 2021

You want to price your daily dinner specials just right for repeat business. It’s also a great way to try out new menu items to see if your diners like them. Yet, it can be hard to know where to go with pricing. In this article, we look at how to price daily dinner specials for the best results. The menu price.

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Restaurant365

NOVEMBER 12, 2021

Your restaurant’s menu engineering strategy impacts your menu mix, pricing, and your overall profitability. Leveraging a mix of operational reporting tools that focus on menu profitability helps you maximize revenue and adds to your bottom line. How menu engineering works.

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TastyIgniter

DECEMBER 31, 2023

Unlock the potential of restaurant menu management with TastyIgniter's insightful blog, 'Menu Management Made Easy.' Delve into the world of restaurant menu software, exploring its vital role in addressing challenges like menu updates, allergen information, and pricing.

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The Restaurant Group

SEPTEMBER 21, 2019

. Menu Pricing: Getting the Food and Drinks Pricing Right: The Difference Between Succeeding and Going Under. . Yes, having good quality food and drinks is the key to success, but so is the pricing. Always Be On the Lookout for Better Prices. Have an Idea of the Formula Commonly Used to Calculate Prices.

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Modern Restaurant Management

MAY 30, 2023

About half of respondents rely on apps for loyalty or rewards promotions, an effective and profitable way to grow your brand’s reach in these price-sensitive times. Why does this matter to your bottom line? They’re buying too – 40 percent of respondents place takeout orders on their apps and 30 percent place delivery orders.

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Restaurant365

FEBRUARY 25, 2022

Operators can determine what works best for their individual business by testing a new menu item during popular times such as happy hour or brunch. Rather than recreating your menu to include short-lived menu items – which can be pricey – promote these items on table tents and special boards. The menu price is $8.00.

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MBB Hospitality

NOVEMBER 23, 2019

Now that you’ve decided to open up your restaurant, you’ll have to determine pricing for all the delicious items you’ll sell to patrons. The right menu pricing strategy is essential for attracting customers and establishing a reliable client base. Pricing Based On Competition. This is the menu mix method.

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