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Masterchef: The professionals.
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Do you think Michel Roux takes himself far too seriously ? If he gave me one of his well presented platters with four spots of food on it I would send it back and demand a meal !
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They don't price that way in the catering trade, Krausse. You price to what the market can bear, so Margin becomes important, not mark-up.........and think about the hidden costs that have to be borne in, ripping away at that margin, maintenance, upkeep, the ambiance build, advertising and PR, rates and all the rest....
Sherrard ! Let's say the content of your meal cost £5.00. The star chef sells it for £20. His mark up is 3. BUT in reality the C.P. of the meal (with volume discounts etc.) is probably about £1 and therefore his mark up is in the region of 19. (This must be true because I can live for a week on less than £5 worth of food )
Why do people buy Hermes ties for £135 - I can buy a tie for what, £5? It's the quality of the material (ingredients), the way it is constructed (cooked), the way it is packaged (the plate), the way it is served (the same) - and it's an experience, a brand perception - ultimately it becomes emotional.
Why do people buy houses for £800k plus. I can buy a house for what, £100k....Guess what, it is one of the biggest emotional purchases that we make...........
Eating out is similar, not some service priced on redundant cost mark-up economic systems, that if they were applied would collapse the industry and likely lead to bankruptcy as they forgot about some of the hidden costs and cash-flow management.
Why do people buy houses for £800k plus. I can buy a house for what, £100k....Guess what, it is one of the biggest emotional purchases that we make...........
Eating out is similar, not some service priced on redundant cost mark-up economic systems, that if they were applied would collapse the industry and likely lead to bankruptcy as they forgot about some of the hidden costs and cash-flow management.
I'm in business Krausse and I can't follow what you're saying either, can you answer Sherrard please and say WHAT you are referring to.
As to restaurants ripping people off, have you got the slightest idea of what the overheads are on a restaurant situated in Covent Garden would be? You aren't just paying for ingredients you know, there are staff, advertising ( which is colossal), business rates, general overheads, and all sorts of diverse other charges, and you begrudge paying someone who have trained and chefed for 20 years a decent price for their food? It's really not expensive when you consider the factors involved, and it doesn't pay to tell anyone who enjoys good food how stupid we are, that's just rude.
As to restaurants ripping people off, have you got the slightest idea of what the overheads are on a restaurant situated in Covent Garden would be? You aren't just paying for ingredients you know, there are staff, advertising ( which is colossal), business rates, general overheads, and all sorts of diverse other charges, and you begrudge paying someone who have trained and chefed for 20 years a decent price for their food? It's really not expensive when you consider the factors involved, and it doesn't pay to tell anyone who enjoys good food how stupid we are, that's just rude.
