Here Are Some Guidelines In Pricing Your Restaurant Menu
One of the most important decision of a restaurant owner is the prices of their menu. This may seem like an easy task, but it is actually not since you cannot price your menu based on your intuition. Before, you make the prices of your menu, you must take certain things into consideration. Example, you must know the latest prices of all of the ingredients that you will need. It is important that you know the goods that are affordable.
Making a menu is not an easy task. It is not only involve in choosing the best dishes, it is also involve in creating reasonable menu prices. The pricing of your menu is very important, since this is the basis of the profit of your business and this can attract your potential customers.
Here are some guidelines that you can follow in pricing your restaurant menu:
A. Most successful restaurants has their food price in the range of twenty seven percent up to thirty two percent of the sales of the food. These percentages can actually increase and decrease, depending on the kind of restaurant. But, in order for you to be more accurate, you can also compare your cost percentage with other restaurants that have similar service and menu.
B. When you calculate the food cost every ingredient must be included. Look at the cost of every recipe of your menu and make sure that all of the garnishes and its costs are included.
C. The cost of all of your recipes for the items and the sale price is the basis in knowing if your menu pricing is in line with the industry. This is how you can see and monitor the performance of your restaurant.
D. You need to determine the food cost of all of the recipes and it must have reasonable pricing, so you will also have positive income.
E. Also, there are certain factors that you must consider when pricing your menu. Like the labor of employees, the debt and rent.
Below are guidelines in creating the price of the beverages in your menu:
The cost of the beverage is calculated from 20% of the sales of the beverage. The percentage can be higher or lower, it is also the same like food. Fine dining restaurants has a higher percentage, the percentage can go up to 40%. For other kinds of restaurants it can go as low as 15%. But, in order for you to be more accurate, you can also compare your cost percentage with other restaurants that have similar beverages.
When you follow the tips above, then your restaurant will have good pricing for your menu and most probably have a positive income.
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