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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. Most operators aim for food costs to be around 28-35% of the menu price, though this can change from restaurant to restaurant.

Pricing 195
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New Year, New Deals: How Smart Operators Keep More Profit

Modern Restaurant Management

These chefs might know how to source the finest ingredients, but no one’s taught them how to negotiate the price of those ingredients or keep suppliers from quietly eating away at their profits. Sales reps may come back with a price comparison guide that shows lower prices on specific items. Be wary of common tactics.

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Restaurant Menu Pricing Strategy during COVID-19

Goliath Consulting

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. Next Steps.

Pricing 397
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Ready To Sell? Maybe You Should Be

Modern Restaurant Management

Refer back to Rule #11, "Control Your Controllable Costs." A "claw back" is what we refer to as either non-recurring expenses or owner benefit expenses like paying for your family’s cell bill. By the end of the first day, we had three full price offers. I know this may be difficult for many of you.

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How to Find the Target Market for Your Restaurant

ChowNow

Understanding your target market is the foundation of making smart decisions for your menu, pricing, and overall guest experience. Meanwhile, a fine-dining steakhouse targeting business professionals will prioritize a refined menu, premium pricing, and marketing efforts that focus on corporate events and high-end experiences.

Marketing 195
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No Reservations About Putting Restaurants First

Modern Restaurant Management

Since our founding in 2014, we've challenged industry norms by pioneering prepayment options, variable pricing, and customizable experiences that drive revenue and prevent no-shows. Data refers to both Resy and Non-Resy Users with an American Express Consumer Card in the US. This innovation remains central to our identity.

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THE COMPETITION EFFECT

Culinary Cues

Competition has been referred to as the negative aspect of free enterprise while optimists applaud it as the opportunity that free enterprise offers. Some may view it as a reason why some fail while others see it as the reason a few succeed. Can there be too much competition?