What I Learned from Two Food Pricing Experiments
Pricing is one of the most challenging parts of running a food business whether it's a food truck, restaurant, or baked good. The right price on the shelf (and in turn, to stores, distributors, and brokers) determines your success. You could sell very little of a premium product and a ton of a low-priced product. The challenge? You need to know where you fall. And the strategy that's going to get you there. It took me six months to decide I wanted to test my prices. One of my mentors kept nudging me. "Test your prices! What's the worst that could [...]