Are You the Plus One?

It's rare anymore to see someone dining alone. In the face of the economy, it's more common to see groups of people going out, conscientious of  sharing a meal. In America, going out has become a luxury for most, and many of them want the best "bang for their buck." From families, friends, and even business meetings, it's easy to bring a "plus one" so everyone can pitch in $5 for lunch. Sometimes more difficult to contribute more than that. After all, there's still bills to be paid, and now eating out has become somewhat of an extra expense for many.

Enter the $5 Dollar Special

As a business, it's hard to think about offering something like this. With McDonalds charging over $8 for their BigMac meal (wow, who else remembers when it was less than $4?!), a lot of local places have trouble offering such a low price for a meal. After all... as a business owner, there's hard costs to consider. Why would you let a meal that costs you $10 to make go for only $5? That's a waste of $5! Too much waste can kill a business, faster than you can say, "high five!" But the $5 Special doesn't have to be a drain on your business. When done right, it can actually not only bring in a profit, but also keep your customer coming back.

Adding on A Plus One

It's unlikely that most people go out with only $5 in their pocket. The average consumer thinks about other costs as well, such a tip, or an activity to do before or after the meal. And it's pretty common to say that $5 specials, no matter where you are, don't come with a drink. So as a consumer, if you want your coffee or Diet Coke with that, you're going to bring an extra couple bucks (at least, with most places now charging $2.99 for a fountain drink). 

Most customers carry a couple extra dollars for their 

favorite soda or dessert

This is where you, as the business, can recoup from the loss of the special. But drinks aren't the only way to add plus one's to the bill - you can also suggest side dishes and dessert. Are they having a salad and need extra dressing? Would they like bread with that? Have a sample of your dessert on your display, so they can't resist a side of cheesecake or pumpkin pie. 

Let's do some simple math:

$5 (special)

+

$3 (drink)

+

$4 (dessert)

---------------------

$12 (total bill)

Looks like you just made a $2 profit from you original hard (production) cost of $10!

Of course, there will be days when customers only have $5; they are are simply drawn by the special. But these customers can be beneficial to your businesses. Don't forget that the $5 special got them in the door - now WOW then with your awesome selection of foods and goods. This will keep them coming back for more. You never know, that $5 customer may turn into the $50 customer for dinner service. And with any luck, they will be the Plus One that your business needs to survive.

Don't forget that customers are 
the heart and soul of a business!