Thanks for your point, will take it into consideration..
Ya, my partner and i frequent a food stall which now inc in price, 50 cents inc is a lot for a meal, w/o inc at least a little ingredient...
rite?
I think more importantly is to stand on the consumer point of view... and the question is, 'Will I patronise u again?"
When on food business, you must sell something that is delicious, clean, good and cheap. Serving must be fast, food handlers must be neat and courteous.
The most important thing is " NEVER INCREASE YOUR PRICE ". When ingredient starts to increase $ 2 per kilo. You increase 50 cents per bowl,
then better don't ever consider setting up the food business. SURE TO FAIL.
Everyday in the papers, over TV......they like to talk about price increases. Most food outlets follow, happily they take this opportunity to up prices. IT'S A BIG MISTAKE TO DO THIS.
Kan
I have a different view. If you need to increase price to sustain your business, then better increase. Consumer is more focus on value than price nowadays (except for very poor consumer sector where they think that a soup should come free when they order chicken rice) . It depend on the market sector that you aim at middle income sector still focus on value more than price (they also mind price if it cost more than four dollars. This is where the propensity to consume theory come into play). Go and take a few marketing courses such as know throughly all the four Ps in marketing to help you understand consumer behaviour better.
