Webinar/Podcast
Are Your Menu Prices Keeping Pace with Rising Food and Labor Costs?
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The COVID-19 pandemic may be easing, but its aftermath is forcing restaurant operators to combat ever-rising food and labor costs. Inevitably, your menu prices must also increase.
In this town hall webinar, we'll discuss how independent restaurant operators are making adjustments to their menu and streamlining their operations to remain profitable. In addition, we'll introduce several tools and resources to help you create a plan of your own.
What You'll Learn:
- How to recognize if it is time to raise your prices
- Tools to calculate how much you should increase prices to remain profitable
- How to raise prices without losing customers
- What other restaurant operators are doing to combat rising costs
- Best practices for dealing with the labor shortage
- Your comments and questions
About the Presenters:
Jim Laube
Jim is the founder and CEO of RestaurantOwner.com. He has a diverse 30-year career in the restaurant industry that includes various staff positions, manager, controller, CPA and advisor to hundreds of independents throughout the U.S. and Canada. Jim is a popular restaurant industry speaker and seminar leader whose clients include the National Restaurant Association, Pizza Expo, SYSCO, Food Services of America, Gordon Foodservice, the New York Restaurant Association, Walt Disney and Papa John's.
Joe Erickson
Joe Erickson is the Chief Operations Officer and a partner in RestaurantOwner.com. He has owned and/or managed several restaurant/catering operations. He started his career by developing Luther's Catering, a division of the Luther's BBQ chain, in Houston. He was also a partner and co-founder of Sunset Dinner Cruises and was the founding partner of Bobby Mac's, a casual, full service restaurant in Kerrville. He later helped to develop a southwestern bistro, Nicole's Cafe San Felipe, and was managing partner for the original Truluck's Steak and Stone Crab, which now has 11 locations throughout the U.S. Joe is focused primarily on developing easy-to-implement, yet highly effective systems and processes to help our members improve their restaurants' efficiency, product utilization and most importantly, deliver a more consistent guest experience.
Related Resources:
Download the Slides
Preview
This form is available in the following formats. You must have a compatible program installed on your computer to use them.
Click to Download Adobe PDF format
Download the 50 Ways to Cut Costs eBook
Preview
This form is available in the following formats. You must have a compatible program installed on your computer to use them.
Click to Download Adobe PDF format
Download the Price Increase Calculator
Preview
This form is available in the following formats. You must have a compatible program installed on your computer to use them.
Click to Download Microsoft Excel format
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Attendee Questions & Comments
Question 1: What was the most valuable idea or insight you received?
Question 2: What will you try or do differently because of the webinar?
Question 3: Do you calculate your Prime Cost every week? If so, what's your recent Prime Cost %? Is this higher than in the past?
Question 4: Have you raised menu prices this year? If so, what overall %? Customer resistance, if any?
Question 5: Have you been working with your primary distributor(s) on any of these issues?
Question 6: What cost-cutting measures have you taken to improve profitability?
