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Perhaps the restaurant should raise its prices.
by lars512 13y ago
Perhaps the restaurant should raise its prices.
- xlevus 13y agoDo restaurant's scale? Find a bigger venue. Open another store. Maybe they should just deploy to Heroku or Appengine and have them scale to meet their table needs.
- justincormack 13y agoUnfortunately scaling good restaurants is hard. Its a service business not a product business. It can be done to some extent.
- epo 13y agoThe demand doesn't scale, this is a fashion market where new restaurants are in incredible demand until ... the next hot new restaurant gets it's day in the sun.
- chrischen 13y agoOr open a second location.
- eropple 13y agoRestaurants don't scale linearly.
- deleted 13y ago[deleted]
- chrischen 13y agoMcDonalds.
- thaumasiotes 13y agoSure, that's one kind of restaurant. I've never heard of anyone trying to get a reservation there, though, and I'm pretty sure there's a direct relationship between the lack of demand for reservations, and the restaurant's ability to scale.
- chrischen 13y agoIf they only had one restaurant, over 99 billion wouldn't have been served, and a good fraction of them would probably be on the waitlist for a reservation.
- jlgreco 13y agoIf they only had one restaurant because they were incapable of scaling, then perhaps people would get reservations there.... ...but that is not the sort of restaurant they are. They are a restaurant that can scale, and if they only had a single location despite that, they would not have a waitlist. Or to put it more crudely: If your aunt had balls, she'd be your uncle.
- amorphid 13y agoI like Chipotle better than most restaurants.
- jlgreco 13y agoEnough to bother getting a dinner reservation? I doubt it; I doubt many would do that at all. In some situations corporate fast-food joints do take reservations (White Castle on Valentine's Day evening is the only example I can think of at the moment) but in those situations they are cashing in on people considering it a novelty. The novelty drives demand to levels that it otherwise never achieves. If there were only a single Chipotle in NYC, there would almost certainly not be enough demand to require a reservation system (and if they used one anyway, their business would surely suffer). Perhaps you would be willing to call in a reservation for Chipotle, but one person calling in reservations for fast-food isn't going to sustain a business.
- eropple 13y agoSorry. Restaurants serving food fit for human consumption don't scale. You essentially need a completely new staff--including a completely new creative staff. This is important, and a large part of why most chefs who own multiple restaurants generally have fairly diverse properties that present different menus. But diversification still requires wheelbarrows of money; "the fastest way to make half a million dollars is to start a restaurant with a million" probably applies even more acutely to opening more than one.
- IanCal 13y agoJust because there's a large one doesn't mean they scale linearly.
- tome 13y agoIndeed this I do not understand, nor do I understand why bands sell tickets so cheaply when they can be resold by touts outside the door for many times that price.
- icebraining 13y agoKid Rock is tired of scalpers taking tickets away from his biggest fans. One way to stop that: Raise ticket prices. If Kid Rock charged more for his tickets, scalpers wouldn't be able to sell them at such a big markup. But Kid Rock doesn't want to raise prices. "I don't want to break you by coming to see me, " he says. "I want to make as much money as I can, but I don't need to drive around in a tinted down Rolls-Royce or Maybach and hide from people because I felt like I ripped them off." http://www.npr.org/blogs/money/2013/06/27/196277836/kid-rock-takes-on-the-scalpers http://www.npr.org/blogs/money/2013/06/27/196277836/kid-rock...
- asperous 13y agoHaving to show your id and the credit card you used to buy the tickets makes the most sense to me. http://www.ticketmaster.com/creditcardentry http://www.ticketmaster.com/creditcardentry
- TeMPOraL 13y agoI'll leave inviting the Market Economics Fairy here to Eliezer; I just want to point out, that he won't "break you by coming to him", you just won't come. Instead, someone richer, who can afford the ticket without breaking, will come. EDIT: The real ideas of Kid are described not in the quote but in the rest of article; it's worth taking a look at.
- joezydeco 13y agoThat interview was a great summary of what's going on in the industry. Kid Rock realizes that keeping his die-hard fans happy works out better for him on the tour circuit, since they'll spend more on t-shirts and other things while they're at the show. If they have to pay $400 for a ticket, there's no budget left for a high-margin souvenir. It's the internet age as well and he realizes that. The moment he tries to charge a market price for every ticket, he starts eroding his fan base.
- chaz 13y agoOr partner with Urbanspoon to charge a reservation fee based on market prices that won't affect menu prices. It's basically a cover charge.
- robryan 13y agoI think a lot of the business is probably generated because they are sold out all the time. Raising pieces threatens that.