35. Raise prices without losing customers | Restaurant Marketing

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Is it time increase your prices again?

Today I am sharing with you how we are increasing our prices yet again right before June and the summer season. 

• 6 ways to increase the Perceived Value of your food
• A step by step process to follow to assess is you should increase your prices and how to go about it 
• And of course, all the logistics to consider 

You servers don’t want to be confronted with an angry customer and in the case of our manager she is scared by just one customer considering we sell hundreds of calzones every month! 

When was the last time you increase your prices? 

If it’s been more than a year, you may want to consider that this month. Specially as we enter the summer season where you will hopefully get a boost of sales. 

Here is the reality that your staff and customers don’t know about: 

1. There is inflation and the cost of food increases year after year. 
2. In this economy in order to get high quality candidates to apply to work for our restaurants, you need to be able to pay competitively. 
3. The property taxes continue to increase year after year and if you are leasing it’s directly passed through from your landlord to you. 

One of the ways to combat these realities and difficulties is by increasing prices! 

When you increase prices here is what happens: 

• Your gross sales will increase 
• Your labor % will reduce since it’s proportional about sales 
• Your food cost % will reduce since it’s proportional about sales   

Sort Out Logistics: 

• Update your to-go menu
• Update your Menu board
• Update POS system
• Update pricing listed on your website  
• Update Discounts/ combo deal  
• Communicate with your Servers and come up with a script