IRHC Group Restaurant Revenue Enhancement Programs

What is pricing and why is it so important?
In simple terms, pricing is a group of activities by which a company determines what its customers will pay for its products and services offered. But if you do not think pricing is a critical component of your business that requires unique concepts, practices, and tools, then you will miss out on its tremendous power to increase your bottom line. Improving pricing is, in fact, one of the most strategic and powerful ways for you to improve your business and financial performance. According to a Garter Research report, on average a 1% improvement in price translated to an 11% increase in profitability.

Pricing for Optimal Profit, Without Sacrificing Transactions or Customer Traffic Grounded in state-of-the-art databases and statistics, IRHC Group uses an analytical process that enables us to identify menu prices that yield optimal gross profit without negatively impacting customer traffic.IRHC Group consultants use sophisticated statistical inference to analyze demand patterns and elasticity and determine specific trading relationships between products.

It is a revolutionary and quantitative approach to pricing that enables you to uniquely manage the long-term brand value on a granular level - by letting the consumer set the right price. Price strategies are developed with a blend of consumer needs and business rules and conditions that drive brand strategy and financial plans.

IRHC Group consulting teams use the insights gleaned through this analytical process to develop demand-based pricing strategies that are brand-specific, actionable and highly effective whether on a market, tier or store level.

The most comprehensive Restaurant Revenue Management System in the Industry. We utilize our experience of over 30 years to evaluate and create a multifaceted restaurant revenue management system. Which includes but not limited to the following: No other company can offer these services below.

Menu Development: and Design: based upon concept design, consumer preference revenue and profit maximization.

Recipe Development: to maximize Return to Net (RTN) profits and increase speed of service standards.

Menu Item Placement: a scientific approach to help influence consumers spending habits that maximizes revenue and profits.

Price Evaluation Systems: a comprehensive evaluation of your menu pricing to ensure maximum profit without jeopardizing guest counts or customer traffic. IRHC Group clients experience on average gross profit gains of 2% of sales without deterioration of transactions, customer traffic or perceived value.  Nobody can compare to us and we Guarantee It.

We have helped many of our clients increase revenue and flow through additional profit without jeopardizing the Guest experience.

IRHC Group RRMS has helped many organizations raise millions of incremental revenue.

What We Do.

We are International Restaurant and Hospitality Consulting Group, who specializes in the Global Restaurant, Retail, Hotel and Hospitality consulting sectors. With over 32 years’ experience, our International Hospitality Consulting firm has helped transform and design companies in over 27 countries, by helping them live out their vision, concept dreams and profit goals. We have worked with companies ranging from small boutique companies to some of the largest companies in the world. If you’re looking for a Hospitality Consulting Firm to help transform a struggling brand or design your brand from a vision, then give us a call. We are the hospitality industry leaders in creating a Guest Obsession Program in the restaurant, hotel, retail and hospitality industries. Please read the areas we specialize in Restaurant Consulting, Hospitality Consulting and Retail Consulting. We have offices and partners that span the globe in Orlando FL, Dallas TX, Las Vegas NV, London UK, New Delhi, Bangalore India, Sao Paulo Brazil & Seoul South Korea.
"When an organization has a Guest Obsessed Culture we then have the ability for the guest repeatability index to skyrocket and the bi-product is always increased revenue, margins and stakeholder return.”  International Restaurant and Hospitality Consulting Group.

what`s news?

Sun, Dec 08
Holiday Gift Card Promotions, How Are They Working for You?, Hospitality Consulting, IRHC Group

Tis the season of gift card sales.  Restaurant News predicts that at least 81% of consumers will purchase some sort of gift card this holiday season.  With statistics like this, it’s time to take a close look at your gift card promotion and make sure it is working for you in the long run. One […]