I say lower your quality
NOT!!!!!!!!!!!!!!!! Come on, brother Neil! Did you really even consider this for a second? It's a no-brainer...do whatever else you have to do, but DO NOT lower your quality. |
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Raise prices - Over 25 years experience has taught me to "fire" the least profitable customers and work on cultivating additional profitable ones - They'll last and not drive you crazy with BS. |
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I like this! Add it to my response. You have to raise your prices. If you have to make cut FIRE the least profitable, least appreciated, sides or entrees. |
Kick up the prices... I did this to the guys that I sell package to... When I told them I would have to raise my prices their comment was "As long as the quality doesn't go down, that's fine with us"
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Lowering the quality of your product is the first step to failure, IMHO. We raised our vending prices this year and still did fairly well. but the numbers were down. Crowd attendance numbers were down at most of the events, so I know it wasn't just us. Happily, at some of our repeat events we had several customers who said they look for us now when the event comes along. Lower quality food would probably not bring back those customers.
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This thread has a sneaky coincidence to it.
I picked up sveral Holiday jobs this week that would have otherwise gone to my competitor (or was he?). These are folks that were lured to the other guy for his "great" prices. When they received their product, they were very disappointed. I take many of these new customers to see Lola, and most are impressed that a real wood fire and charcoal is whats cooking their food, not propane. I explain that the care of the fire and proper handling of their food is what they are paying for. After that,most are very excited about my prices. BTW: My competitor was charging $1 lb for ribs, my price is triple that. |
We have raised our prices in lieu of escalating costs. We also are selling more sausages and Kosher All Beef Franks, as the price point is lower, and the caterings are more "no frills".
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It may be arguing semantics, but there is a scenario where I would "sell a lower quality product". If you have steady sales, but the average ticket price is falling it is an indication that your customers have less money to spend. In that instance I believe you are better off looking for lower cost items to put on the menu. Better to keep your regulars coming in for an inexpensive veggie plate or loaded dog than lose them to fast food joints because your menu is full of twenty dollar steaks but no cheap meals.
I guess what I am saying is that while you never want to reduce the quality your dishes, you can offer "lower quality" ingredients that are well prepared without compromising your cooking standards. |
Raise prices. Period.
Here, I sell cookies. I charge P10 each (that's about US$0.20 right now). For the rural Philippines, that's a lot. And yet, I have people who keep coming back to me. Why? Because I use real butter, because I don't use preservatives, because there's 10 grams of chocolate in every 3-inch chocolate chip cookie, because I use artificial vanilla (hah! it tastes better in baked goods), because I care about the final product and my customers. There have been times I could not make an item due to availability of good quality ingredients (welcome to the island of Leyte) ... I simply refused the order. I told them that I'd contact them when I was able to obtain the necessary ingredients. Margarine is NOT a viable substitute for butter. |
being that the question is hypothetical......
I say keep the prices to where you can make a profit, if you can't... shut the doors. This goes for every type of business whether it be in the food industry or in auto parts. technically you didn't give us much to go on. there might be some instances where the quality would have to be lowered. that said, how much lower can you go than bbq. I mean, brisket and pulled pork what can you subtract from that? maybe less spice or bbq sauce, ok you saved a few nickles there. The answer is probably lies in changing the products that you serve. I have said it more than once, stay away from ribs, they are time consuming and labor intensive... compared to brisket and pulled pork I mean. I would probably make the brisket and pp sammies bigger and get a sign that says "Worlds Biggest BBQ Sandwich" and charge accordingly. Hell if that doesn't work slam the doors shut, either you aint cooking good Q or the location sucks...or both. I believe in marketing and advertising, keep it smart and keep the prices up. |
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