Managing Your Restaurant Menu Prices Effectively
Posted on: December 29, 2016 /
If you are a restaurant manager, you probably understand how important it is to determine the cost of your items to form a realistic price points for your menu items that will guarantee you profits. In the market, store or depot where you source your items, prices are more defined. So it is upon you to figure out how you are going to balance things so as to operate the restaurant profitably. The following are a few pointers that you can apply to manage your restaurant menu prices effectively.
Don’t Make Prices a major issue
Your restaurant menu should focus on the products you have on offer and not much on their costs. Sometimes promoting cheaper products may not work to your advantage. In fact, if possible try to decrease the font size of your prices. You can either make the prices smaller than other description in the menu or keep everything uniform. Eliminating the dollar sign is another great way of taking your menu away from the price. Remember that you want your customers to choose the products that they are going to order based on what looks and sound good—not the cheapest products on offer.
Quality of your Raw materials
The value of high quality of raw materials or ingredients that you use in preparation of meals does not only affect the quality of the meals but also your menu prices. Whenever you use low quality law materials, there is high likelihood that you will have much to waste, and calculation of cost of production will not be right from the beginning. As a result, you have meals or products with the same sale price and the same quality but lower earnings. It is therefore very important to keep the quality of your raw materials as high as possible to minimize wastes and make constant profits over long duration of time.
Vary Your Menu Items and Not Prices
It is also very crucial to do seasonal menu changes, especially when fruits and vegetables forms part of the items that you use in your restaurant. These have different purchase prices depending on the season of the year. But this does not mean that you have to remove them from your menu. Instead incorporate them in side dishes, desserts, salads and as fresh juices because they can provide you with an opportunity to charge high for the main meals and balance your profits. Alternatively, you can keep the prices of the main meals the same but change the side dishes.
By and large, most of your clients will never focus on each of the above factors when they come to your restaurant. But they will consider them intuitively. Remember that consumers are experts on their own and will always recognize a deal when they find it. Accordingly, strive to pay much attention to the psychology of your clients when changing or selecting your restaurant menu prices and you will surely increase your success rates of being in the money.