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Strategic Positioning of a Restaurant -- Pricing by Ron Gorodesky and Ed McCarron
Over the past several years, the restaurant industry has grown steadily. At RAS (Restaurant Advisory Services), we are regularly engaged by both local and out-of-town restaurateur’s, who are searching for assistance in both the strategic planning and site selection processes for restaurants. The purpose of this two-part article is to offer a restaurant primer to those interested in either opening a new restaurant or modifying an existing one. The first part of this article will focus on factors affecting menu pricing and the budget for food and beverage costs. The second part of this article will focus on the controllable costs involved in operating restaurants – the costs that must be incurred that the customer does not see.
One of the most important factors in the strategic planning of a restaurant is in the development of the menu. It involves designing an appealing selection of menu items that are competitively priced in the marketplace. Menu pricing is a very tricky task because you need to price items so that you can operate profitably and, just as important, offer your targeted guests a good price/value relationship.
Click here to go to the article page.
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