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The Specialty Solve for Cost vs Value
How premium ingredients and strategic menu engineering can balance cost with value.
As costs continue to rise across the industry, operators are challenged to maintain profitability without turning guests off with noticeable price hikes. This is where specialty items shine. By offering thoughtfully curated premium items that enhance perceived value, restaurants can help guests truly get more from the experience. We’re talking more delight, more comfort, and an expanded palette for their dollar.
INVEST IN THE DETAILS
Today’s diners expect that a higher price point means an elevated experience – not only in the ingredients used, but also in the overall dining atmosphere. Everything from the cleanliness of the restaurant to attentive service and ambiance plays a role in justifying higher menu prices.
ADD LITTLE LUXURIES
Subtly elevate perceived value by incorporating carefully chosen and conservatively applied premium ingredients. “An old fashioned with a couple of Luxardo cherries instead of dyed maraschinos is worth an extra dollar,” says Tim Maness, Shamrock Foods Restaurant Consultant, Colorado.
“Consumers already expect premium ingredients relative to high prices, so the justification now comes from the perception of the whole experience:
Are the parking lots and restrooms clean?
Did the host make eye contact?
Was my table ready when I arrived?
Was I thanked when I left?”
ANCHOR THE PRICE RANGE
High-end specialty items can be used to contextualize the pricing and build menu-wide margins. “Positioning high-end items as premium offerings sets a pricing ‘anchor’ that makes other menu items seem more affordable by comparison,” says Joy Miller, Shamrock Foods Restaurant Consultant, Arizona.
BUILD BRAND RESONANCE
“Share a good origin story, which usually leads to where the owner’s love of food and hospitality comes from,” says Leif Mann, Shamrock Foods Business Resource Manager. Use enticing buzzwords like “handcrafted,” “locally sourced” and “small batch” to signal quality and attention to detail. That said, be sure to balance this approach with brevity. “There is a growing sense of menu fatigue, and most guests don’t want a novel about where the chicken was grown and fed,” says Maness.
KNOW WHEN TO CHARM
Charm pricing like $19.99 instead of $20 is a classic move for making prices feel accessible. Use the opposite approach to drive up the value of specialty menus. “Setting specialty items at a round number can imply quality – no $ signs,” says Miller.
“Crafting a compelling narrative is essential for operators to connect with guests and enhance their experience. Tell the story behind the concept and the ingredients, and educate your staff to do the same.”
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