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Small Business Tip of the Day: Say Goodbye to the Dollar Menu
Getting Advanced, Home Page Blog, Restaurants
Small Business Tip of the Day: Say Goodbye to the Dollar Menu
20 November 2013

It seems like McDonald’s Dollar Menu has been around forever, but in actuality it’s only been since 2002. Well, those days are over, and the big chain is set to rebrand the menu and include not only $1 meal choices but $2 and even some $5 meals. Is it a sign of an improving economy that the consumer no longer cares about only spending $1 or do the little items on the dollar menu get lost in a price board full of Bacon and Cheese Quarter Pounders or McCafe Frappe Caramels? Whatever the reason, now may be the time to try a few higher price points of your own and see how it affects your business. Read more…

Small Business Tip of the Day: Round It Up
Finance, Getting Advanced, Home Page Blog
Small Business Tip of the Day: Round It Up
23 October 2013

Do consumers prefer to pay in round numbers rather than the traditional method of pricing such as setting prices ending in . 95 or . 99? Research published in a recent ScienceDirect abstract show that consumers go out of their way to pay in round numbers at the gas pump, ending their gas fill-up at a round number (like 10.00) instead of letting it go to random cents (like 9.00) instead of letting it go to random cents (like 9.87). Read more…

Web.com Small Business Tip of the Day: Go Ahead, Raise Your Prices
current events, Home Page Blog, On Your Way
Web.com Small Business Tip of the Day: Go Ahead, Raise Your Prices
18 July 2013

If you’re a restaurant owner worried that raising your menu prices could mean losing important customers, maybe you should stop worrying. According to a survey conducted by supply chain cooperative SpenDifference, 90 percent of chain restaurants anticipate raising their prices this year by an average of 1. 6 percent, and one-third of respondents expect to increase prices by 2 percent or more. Read more…

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