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The Psychology of $30

post #1 of 6
Thread Starter 

Does anybody have any personal experiences with making the leap into the $30+ entree price range?  We have operated for years with entree selections that have ranged from the $20-27 price point, however, there are certain dishes we want to put on the winter menu that would require us to price them in the $31-33 range in order to maintain our food cost.  My concern is that from a guest perception that once you break the $30 price point we could be perceived as "expensive" or "special occasion" despite still having other entree offerings in the $20-$25 range.  

 

Has anybody made this leap of faith before and if so, what did you learn by doing so?

post #2 of 6
My entrees run $24 to 28 on an a la carte menu with most averaging in between. I price specials between $32 and $34 quite successfully...beyond that price customers can get real squawky! I sold a $ 38 9 oz beef tenderloin special this summer that i felt was pushing my comfort zone but price point wise i needed to get....funny, not one customer said a thing about the price nor did i hear any complaints about it. Of course the other edge of that sword is that when you enter that price range, the food needs to be perfect......if it's not, you're on the titanic.
At the end of the day, i think that if your food is good and it is honest, your longtime customers will continue to trust you, but it is a balancing act....don't get rid of their favorites or make them too pricey. I find that running specials is always a good reliable way to test the waters.

joey
Edited by durangojo - 11/19/13 at 8:42am

food is like love...it should be entered into with abandon or not at all        Harriet Van Horne

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food is like love...it should be entered into with abandon or not at all        Harriet Van Horne

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post #3 of 6
I agree if the food is well cooked and they get good service most will pay without complaints.

It doesn't have to be huge portions either, as long as it's perfect I think you will be ok. All you can do it try, if I doesn't work then you know you wretched too far.

Our average plate cost for entrees is 42$ we have steaks at 55$ and normally no complaints if we get them they are usually right where unusually a steak will be tough. We hold high standards and people love it.
post #4 of 6
Stretched*
post #5 of 6
Thread Starter 

Thanks for your thoughts Durangojo and jgraeff1, a couple weeks under our belt and our product mix has not suffered at the higher price point items at all.  In retrospect, we probably shouldn't have been so skeptical about making the leap across the $30 price point to begin with.  That said, I appreciate your responses!

post #6 of 6
As longs as the customer perceives getting value for their money, I don't see it as a problem.
Fluctuat nec mergitur
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Fluctuat nec mergitur
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