The menu for your restaurant reflects your business’ image. Your menu is the first thing that you present to your customers, it is essential that it to be dynamic and updated in order to keep them interested. Therefore, plan for your menu and design it to be attractive and functional. One of the important aspects of designing a menu is its pricing. Below are few guidelines that can assist you in suitably pricing the restaurant menu.
• When determining the pricing in the menu it is important to consider the type of clientele you will be hosting. Your pricing should reflect your client’s class factor. Even in the time of economic downturn, customers that generally visit high-end restaurants are willing to spend. They also expect to be treated as if they were in a high-end place. Therefore, you should price your menu accordingly and give them what they want. It is always better to present the pricing in a clean form by rounding off the cents and decimal points.
• Next, it is important to get just the right price for each of your menu selections. Take your time to settle on menu prices that will escalate your profits. Pricing a menu too low will give you trouble in covering the costs and in the end you will hardly make any profit. On the contrary, if a menu price is too high, you are likely to lose prospective customers and not get good volume for your business. Therefore, you should balance out with prices that are competitive yet profitable.
• While pricing your menu, always keep the customer’s perspective in mind. You should never use the dollar sign at the end of the prices on the menu, as it reminds the diners that they are about to spend their money. This can prove distressing for your customers. Therefore, it is best to leave it off. Design your menu in such a way that customers see the delectable spread of food items in the forefront and the pricing takes a backseat.
• Some diners are extremely price conscious as they go through a menu. In order to attract such customers you can offer a “chefs special” or “house special” items at a discounted rate for a limited span of time. You can also offer a discount dinner for a certain number of people that includes entry, dessert and beverage. Discounts give diners a feel that they are getting a good deal.
• Lastly, you should understand the psychology behind pricing. For most customers, paying $15.95 is considered a better deal than paying $16.00. This old marketing trick works well to help diners relax and feel that the price is worth paying for the service they are receiving.
Enhancing the design of the menu is an excellent way to bring more customers to your business. Pricing in your menu is the detrimental factor in turning potential customers into profitable customers. Therefore, you must carefully price the items in your menu.