Restaurant prosperity depends solely on customers’ perception of value. There are many specific steps throughout the whole operation that ensure value.
Myth: A profitable menu is a product of creative art, build it and they will come.
Truth: A profitable and popular menu is more science than art.
Truth: A fanatic commitment to quality is the only way to preserve competitive advantage and long-term profits.
Truth: Most managers use shortcuts to pricing. They use either (1) a simple markup over direct food costs to establish a price, or (2) they price to the competition. Both of these simple methods allow them to avoid thinking and stress, and they can wash their hands and move on to other important jobs. Use of these simple methods for pricing is a huge mistake.
Section 2 PRODUCT/SERVICE – QUALITY – MENU SCIENCE
QUALITY OF PRODUCT
MENU DESIGN – PHYSICAL
MENU PROFITABILITY ANALYSIS
MENU ITEM - RECIPE COSTS
MENU BREADTH AND VARIETY
MENU HEALTH AND NUTRITION
CHANGING THE MENU
YOUR TARGET MARKET
PRICING AND VOLUME
PRICING DECISION CONSIDERATIONS
COMMON SIMPLE PRICING METHODS
PSYCHOLOGICAL PRICE BARRIERS
QUALITY OF SERVICE
THE IMPATIENCE CURVE
QUALITY OF ATMOSPHERE