Adjusting menu pricing can have a significant impact on the overall profitability of a catering business. If prices are increased, it can lead to higher revenue per sale, potentially improving profitability if the increase in price does not lead to a significant decrease in the number of sales. However, if the price increase is too high, it could deter customers and lead to a decrease in sales volume, negatively impacting profitability. On the other hand, reducing prices could attract more customers and increase sales volume, but it could also reduce the profit margin on each sale. Therefore, it's crucial to find a balance when adjusting menu pricing to ensure it positively impacts profitability.
Supervise financial transactions, adhere to predetermined budgets, and forecast upcoming expenses to...
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