Is There Money To Be Made After Hours?
November 18, 2009 by: Greg McGuire
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One strategy that is overlooked in this article is adjusting prices. In addition to scaling down the menu, a small premium can be put on the items that a restaurant chooses to serve without anyone really noticing. There are a few diners I would frequent in NJ after the bars closed that would offer a smaller menu with slightly increased prices. When we were looking for food at 3 AM nobody seemed to mind paying a bit more.
Good point Don. You can really make up for decreased volume through a smart pricing strategy. More often than not you’ll be able to get away with some good pricing because there’s a lot less competition that time of night.