(KIWA Staff Photo)
Ames, Iowa (RI) — Iowa State University Extension’s Food Innovation and Business Hub has been offering online webinars to help businesses figure out how to get and keep customers.
Food business specialist Alex Van Alstyne says part of the issue is knowing how to price what’s on the menu.
Van Alstyne says overinflating the price is one of the factors that can leave customers unhappy.
Van Alstyne says you need to be very detailed in determining your total cost.
He says there are ways to make changes when food prices increase without raising the price of a meal. He cites the hamburger again as an example.
Van Alstyne says they also teach businesses the difference between margin and mark up.
Van Alstyne says if you have done the work to calculate your actual food cost, then figuring out your margin is easier.
The next webinar in the series is June 11th. Find out more at Iowa State Extension’s Food Innovation and Business Hub.
