In the restaurant industry, menu pricing is one of the essential parts to run the business and to entice the customers.
Most restaurateurs get into this dilemma while planning a menu and determining different menu pricing strategies to entice more customers. But this is not an easy task, and most restaurateurs often make a few menu-pricing mistakes that can have a worse effect on business.
Look at some jaw-dropping menu pricing strategies that enhance your restaurant business.
KNOW YOUR RESTAURANT
One of the most crucial restaurant menu pricing strategies is before you decide the price of any dish on your restaurant menu, you must have known your restaurant. The amount you charge will include the cost of raw materials, labour, costs of restaurant décor, regular maintenance costs and other such expenses. Ideally, the menu price must be the sum of your food cost, overhead cost, labour cost and projected profit for that item.
FIND YOUR STAR DISH
The type of cuisine you offer plays an essential role in deciding the restaurant menu pricing strategy. If your restaurant serves Arabian or Italian food, you can tag premium price rates on your food items despite the cost of raw ingredients. This is where you need to play with the customers’ psyche; the premium price tag will make them feel they are treating them with a fine dining experience and rich gourmet foods. The delicacy of the dish might be lost if it is priced as economically as any other local cuisine or fast-food item. Therefore, don’t hesitate to charge a bit extra for an exotic dish and earn a higher rate of profits.
USE RELATIVE PRICING
Use relative restaurant menu pricing strategies to get your customers to buy more. When you place your high-profit items next to expensive dishes, your customers will likely order the cheaper yet high-profit item. For example, black tea tagged at 30 rupees include nominal food costs but still are sold at a high margin.
You can have a ‘Chef’s Special’ item in each menu section. Customers are always looking for something exclusive when they’re ordering. A unique item, especially the chef’s favourite, infallibly attracts their eyes.
COMBOS DO WONDERS!
Combos combine two or more dishes that create differentiation and more excellent value. It is a very effective and profitable marketing strategy under various circumstances. A group of dishes are available only as a bundle and are not sold separately. So, the customers get attracted and spend money.
RULE OF THREE PRICING
Give the customers three versions of a dish. For example, the first dish can be the most simplified version, like a Masala Dosa. The second could be the same dosa with cheese. The third option will be the highest tier with the best quality.
Every restaurant owner must update the restaurant menu frequently and sensibly to catch customers’ eyes. Add interesting new items, remove less-ordered items, include attractive combos and offers.
Therefore, restaurateurs need an efficient software solution to effortlessly manage the menu and other restaurant operations.
Here, QPOS helps restaurateurs. It is a next-generation restaurant POS and management system that allows menu updation.
Achieve higher profits, maximum productivity, and customer satisfaction with QPOS now.
HOW CAN YOU MANAGE YOUR MENU WITH QPOS?
QPOS helps efficient menu management. You can add/delete/ edit an item without any flaw. You’ll have the option to categorise the menu items into different subcategories like the main course, desserts, bread, Hot beverages, Combos, etcetera. In these sub-categories, you can add the items. For instance, If Hot beverages is a category, you can add subcategories like Tea and Coffee. In Tea, you can add different tea variants like lemon tea, ginger tea, Iced tea, etc. It provides easy menu management.
Since it’s an android-based POS solution, you won’t get stuck or doubtful in the middle of taking orders and other restaurant operations. It provides an easy-to-use interface for the smooth functioning of your menu management and billing.
QPOS benefits in menu management
- Reduce wait time
- Improve customer relationship
- Flawless billing
- Advance level security
QPOS provides a machine called RP 6s for QSR and small-scale restaurants to give reasonable POS service that is easy-to-use too.
The QPOS Advantages
- Efficient table management
- Easy online order integration
- Effortless integration with external payment providers
And many more!