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tomato soup in a restaurant costs the same throughout a year. But the cost of tomato varies throughout the year. Restaurateur gains better profits by selling tomato soup in summer since tomatoes cost a lot lesser in summer. But their profits take a dip while selling this soup in winter when tomatoes
price hits peak. So we might say it gets even? can we?
what if the pricing is based on ingredients prices at various times? Tomato soup costs 75% lesser in summer than in winter? Which by default means that this soup costs 75% more in winter. That way the customer can decide whether to buy tomato soup or order something else if price is a concern.
This logic would not apply to frozen foods for obvious reasons. This theory is primarily from restaurants perspective.
Food costs
http://smallbusines...centages-14700.html
Food costs only 25 to 38 percent of your bills [Kansan101, Jul 04 2013]
(?) GG's Resturant
http://www.heritage...4-gg-resturant.html
Italian Tomato Soup $50 / Hearty soup with Italian herbs served in a crisp bread roll [pocmloc, Jul 05 2013]
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Annotation:
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Four big issues with it:
1) Administrative nightmare.
2) Consumers like consistency. They will be pissed when the price goes up and they will think something is wrong with it when the price plummets.
3) The actual price of the raw materials at restaurants is usually hugely eclipsed by other costs related to running the place. Meat might be an exception to this.
4) Might as well do this with other costs. Slow day, too many people there, and your labor cost is out of control? Charge more. |
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Many restaurants already charge "market price" for
fish. |
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The simple solution, and the one adopted by most
restaurants is to rig the prices so outrageously
high up, that the diff between in season and out
of season is less than the tenth of a percent of
the price you pay. |
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So you pay $50 for your bowl of tomato soup, in
the summer it costs them 12 cents in the summer
and 57 cents in the winter. The store owner
looses or gains 45 cents. Big deal. |
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Reminds me of haggling in Thailand. We got all red
in the face over the Put Put ride which was
supposed to be 60 baht and the driver boldly asked
for 130. Its supposed to be 60! I said. OK 125 he
said. On the ride back I remembered to start real
low. I would start with 35! The driver stopped his
vehicle and said: Where to? To Kaosan street. 60
baht he said. I took out the 60 and paid it. |
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Then we came to the airport, and changed our
money back. I was shocked to discover and be
reminded that I was
haggling about less than a single cent. |
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//So you pay $50 for your bowl of tomato soup,// |
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I defy you to find a restaurant that charges $50 for a
bowl of tomato soup. |
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//$50 for a bowl of tomato soup// I did say $50 for a
bowl of tomato soup. Not $50 for a bowl of tomato
soup and a crisp bread roll. Nevertheless, American
restaurants never fail to amaze. |
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OK but the bread roll can't be more than 50p can it? |
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Also knowing restaurants and indeed resturants, they probably charge extra if you want it served without the roll. |
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//the bread roll can't be more than 50p can it?// By
the same argument, if you told me they charged $50
for a bread roll and I pointed out that it came with
tomato soup, you'd argue that the soup couldn't cost
more than $10. |
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I think it is normal to order tomato soup off a menu, and to have it served with an unexpected bread roll on the side. I don't think I have ever seen anyone order the bread roll off a menu and been served a complimentary bowl of tomato soup as a free and unexpected extra. A little pat of butter, maybe. |
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//I did say $50 for a bowl of tomato soup. Not $50 for
a bowl of tomato soup and a crisp bread roll.// |
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That restaurant is actually in the Solomon Islands, so
that price is likely in Solomon Island Dollars, which
works out to about seven bucks American. |
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//Nevertheless, American restaurants never fail to
amaze.// |
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Ahem… Who do you think the head of state of the
Solomon Islands might be? I'll give you a hint—she lives
in a palace in the middle of London and goes by “Liz”. |
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Well, then, the problem is clearly in the adoption of
the term "dollar" for a unit of currency which ought
properly to be called "the five pounds". |
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On the subject of Our Monarch, incidentally, I have
to report that (a) she wears long drawers and (b) her
attendants have very little sense of humour. |
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Damn, I was trying to keep that Solomon Islands thing quiet. but [MB] never specified what kind of dollar. |
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