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Yes, this is the classic gentrification problem. Now you've turned a restaurant that locals can visit into a purely tourist attract that only the upper class ca
by InclinedPlane 8y ago
Yes, this is the classic gentrification problem. Now you've turned a restaurant that locals can visit into a purely tourist attract that only the upper class can enjoy. This solves the problem of the restaurant owners having to close down, but for all the locals the restaurant might as well be gone.
P.S. And then when the next "top N burger joints in America" list comes out that everyone goes crazy for and all the burger-tourists start going somewhere else now you've lost your local customer base and you might go out of business regardless. Raising prices works well if you're a fine dining establishment in a dense metro area and that's the kind of business you expect to run. It doesn't work so well for burger joints or BBQ shacks elevated to a bizarre level of temporary fame.
- antidesitter 8y ago> And then when the next "top N burger joints in America" list comes out that everyone goes crazy for and all the burger-tourists start going somewhere else now you've lost your local customer base and you might go out of business regardless. Then lower your prices again to match demand. It's almost as if prices aren't set in stone.
- InclinedPlane 8y agoYou're missing the important detail here: you've destroyed the relationship with your local regulars. They aren't going to return just because prices are affordable, they're going to find other places to be their regular burger shop.
- antidesitter 8y ago> They aren't going to return just because prices are affordable I seriously doubt it. Do you have any empirical evidence for this?