Webinar/Podcast
Stop Raising Prices, Consider This Instead
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Many operators cringe at the mere mention of adding a separate, new charge to their customers' checks. But that's exactly what some independent operators, who have grown weary of multiple rounds of menu price bumps, are doing.
A Non-Cash Adjustment is transferring the cost of credit card fees from the P&L of the restaurant and onto the guest checks of customers who pay by credit card. In the past, this practice has been controversial and even illegal.
Today, however, some independents as an alternative to another round(s) of price increases are finding monetary relief and even relative customer acceptance from instituting a Non-Cash Adjustment policy.
In this Webinar, we'll talk about the history of non-cash adjustments and how non-cash adjustment works. We'll also hear the firsthand experiences of an operator who has improved the profitability of his two restaurants well into six figures by implementing Non-Cash Adjustments.
The objective of this webinar is to provide you with information and perspective so that you are better able to make a more informed decision about whether Non-Cash Adjustments could be a viable way to combat the higher cost of doing business instead of another round of menu price increases.
In this webinar, we'll discuss -
- Today's economic reality
- History of non-cash adjustment pre-pandemic – AG letters and guest pushback
- Changing consumer behavior
- Non-cash adjustment and today's guest – acceptance and understanding
- The skeptic's perspective
- Non-cash adjustment makes your P&L happy
- Try it, test it, learn and prosper
- Conclusion, Q&A, wrap up
About the Presenters:
Matthew Mabel
For nearly 3 decades Matthew Mabel, through his consulting company, Surrender, Inc., specializes in working with growth-oriented independent, primarily multi-unit restaurant organizations. Matthew is an experienced and talented entrepreneur, teacher, leader and communicator, who has started companies from scratch and re-invented existing business from within. Each step of his career has contributed to his ability to help others grow their businesses while having personal freedom and flexibility. As a restaurant industry leader, Matthew has been quoted extensively in the media about both industry and management issues. He is a frequent contributor to trade publications including Nation's Restaurant News, Restaurant Development + Design and Restaurant Startup and Growth. He is also a sought-after speaker for industry gatherings on topics of business growth, development and operations.
Rex Benson
Rex is the owner/operator of Ol' South Pancake House, with restaurants in Fort Worth and Burleson, Texas. Ol' South Pancake House is where the entire family can enjoy southern home-style cooking at any time of the day or night. Signature dishes such as our most popular World Famous German Pancakes are served over 40 thousand times each year to their loyal guests and patrons. As one of Fort Worth's landmarks, Ol' South has served over 10 million customers since 1962, including many celebrities, dignitaries, congressmen, athletes and musicians.
Jim Laube
Jim is the founder and CEO of RestaurantOwner.com. He has a diverse 30-year career in the restaurant industry that includes various staff positions, manager, controller, CPA and advisor to hundreds of independents throughout the U.S. and Canada. Jim is a popular restaurant industry speaker and seminar leader whose clients include the National Restaurant Association, Pizza Expo, SYSCO, Food Services of America, Gordon Foodservice, the New York Restaurant Association, Walt Disney and Papa John's.
Joe Erickson
Joe Erickson is the Chief Operations Officer and a partner in RestaurantOwner.com. He has owned and/or managed several restaurant/catering operations. He started his career by developing Luther's Catering, a division of the Luther's BBQ chain, in Houston. He was also a partner and co-founder of Sunset Dinner Cruises and was the founding partner of Bobby Mac's, a casual, full service restaurant in Kerrville. He later helped to develop a southwestern bistro, Nicole's Cafe San Felipe, and was managing partner for the original Truluck's Steak and Stone Crab, which now has 11 locations throughout the U.S. Joe is focused primarily on developing easy-to-implement, yet highly effective systems and processes to help our members improve their restaurants' efficiency, product utilization and most importantly, deliver a more consistent guest experience.
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Attendee Questions & Comments
Question 1: What was the most valuable idea or insight you received?
Question 2: If you're not using a Non-Cash Adjustment now, do you plan to try it?
