Don't sell yourself short!
- Paul Foreman
- Jun 3, 2020
- 1 min read
So, the wheels of hospitality are starting to gather more speed as we see the greatest relief from COVID 19 restrictions in the last couple of months.
My advice.......
DON'T SELL YOURSELF SHORT!
There is no better time than now to reset the clock and give your business a fighting chance.
Let's be honest, hospitality can be taken too literally, to the detriment of the business. Whether it be competition driving down prices or just not having the confidence to charge accordingly. At the end of the day, undercutting your prices affects you and our industry as a whole.
There has been a financial formula around for many decades that shows a very clear picture on what a dish costs and how much it should be sold for.
Fuck the $10 meal or the 50% off BS. It's poisonous and needs to dissapear!
It's bloody insane and hospitality is the clear loser!
Having said this, I do understand competition and the shit that has gone down in the last few months, but even if you trim that price a little less than you normally would, it's a good start!!
Onward and upward!
Px
The discussion surrounding pricing strategy in the hospitality sector raises important questions about sustainability. When analyzing the impact of discounting practices, one must consider how they devalue the industry. The Pokies can also serve as a metaphor for risk-taking in this context. While some may gamble on low prices to attract customers, this ultimately undermines the value of quality service.