Quality, Value or Price? It's a Balance!
When purchasing products for your establishment, how many of you look at the price and decide right then and there whether or not to buy it?
Although price is important getting a good value far outweighs getting a good deal and higher quality products will definitely increase your profit potential. When making purchases consider the yield, taste and image of your products, not just the price.
Questions to consider:
Yield - After a product is cooked, does it yield out well?
For example does your burger that starts out 6oz finish at 5oz or 4oz? This makes a big difference when you are deciding what to charge and what your customers will determine to be a fair price for the burger you placed in front of them.
Taste - When something looks and tastes amazing, customers do not mind paying a little more for it.
Something not to be overlooked is using different high end condiments that offer a distinct flavour profile, these products set you apart from the crowd. Do you have secret ingredients in your recipes that leave your customers wondering why it tastes so much better at your restaurant? It might cost a little more for that particular olive oil, mustard or sauce but the flavour it provides is unforgettable!
Image - What image do you want to portray?
If you use wholesome, local or natural products then advertise it on your menu and you can charge more. When you serve good quality food it yields better, looks better and tastes better, the image of your establishment changes and you will increase volume solely through word of mouth advertising. Using wholesome, local or artisan products is the fastest growing trend in our industry and you can start to change your image in a positive way by offering even a few of these products.
In the end, higher quality products generate a higher contribution to your business. Along with better yield, better look, better taste and a trendier image with positive implications. You will notice increased traffic flow and be one of the successful restaurants headed in this new direction.