Recently I went to a café where I was confronted by a notice on the door outlining they had increased their prices. I found it confronting. For me, I expect a restaurant to always be thinking about their prices with each menu change, to be on top of their margins. I know in hospitality the key to success is maintaining margins.
I have clients who have been hugely successful, and also seen others struggle with getting their margins right.
As a consumer, I am at the venue for the wonderful food, the company, the pleasure of the restaurant hosts creating a wonderful space for me to take time out, it's never about the price.
In preparing to write this I explored a number of articles to see what information is available online, and what the various opinions are. Most provide a generic recommendation. I found the following article helpful and practical, and hospitality specific.
Rather than me reinventing the wheel, enjoy this article by Joe Erickson - When to Raise Prices and How to Do It.
How do you want to be told about price increases at a café?
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