March 4, 2018 By kumari
All types of restaurants spend countless hours determining their menu pricing. From time to time, prices must be increased or decreased for various reasons. Many restaurants choose to modify their prices at least once per year. Others make changes whenever their costs start to rise for whatever reason. For example, restaurant menu prices often increase because of rising food costs. A single ingredient shortage could result in a noticeable price increase.
Then again, fast food establishments and restaurants sometimes change their prices for other reasons. If a company believes customers will accept an increase, then prices could be raised. Dozens upon dozens of factors affect menu prices, and each company tackles this situation differently. Large restaurant chains tend to avoid increasing their prices too often. Otherwise, single restaurants and smaller chains may only increase prices when supply and demand affects margins.