In a highly competitive hospitality market where every penny counts, operators must realise their true value, price accordingly – and not be afraid to go on the offensive when it comes to marketing and generating repeat trade, says restaurant guru Peter Harman
1. Raise prices
We live in a world of heavy-duty inflation, but it’s important to think about raising prices and how to do it right. Too many hospitality businesses feel they have to charge less because they don’t have the scale of major operators, like Starbucks, but that’s a horrible idea. Many restaurants and cafés make amazing food and beverages, but discount because they don’t feel good enough.
