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Weather you run a bar, pub, cafe, diner, Quick Service (QSR), family style restaurant or fine dinning, one of the easiest and fastest way to increase restaurant revenue is to use pricing that ends in $0.05 & $0.10, instead of $0 .25, $0.50 or even dollars (unless you are ultra fine dinning, see below). If you are currently selling a hamburger for $5.50, raise the price to $5.55 nobody will know. Do this all over your menu and depending on volume you can see a see a huge increase in revenue.
If you sell 200 items a day, $.05 on 200 is $10 a day or $3,650 a year (Hawaii anyone)! Even better, you can increase your prices on a few items every couple months by $.05, your guests won’t notice and won’t question it. But when you go from $5.50 to $6.00 they see it.
For you ultra fine dinning restaurants that use even dollars, consider using fractions instead of cents, it looks cool and you can easily raise prices by $0.25 every few months. For example, instead of costing a steak entrée at $37 try $37 ½. This way in two months you can easily raise the price to $37 ¾.
For more great tips, tricks and strategy to increase revenue, lower costs and enjoy your restaurant, please click the giant green button below to get FREE access to my 5 part video series called the Foundation to a lifetime of Restaurant Success. In the video series, you will learn the difference between owing a restaurant and a business, how to easily add $500 to $5,000 a week in sales using a simple catering strategy as well as understanding food cost, labor cost and the ONLY number you need to be tracking in your restaurant.
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