Data-driven Expert Pricing Optimisation for Restaurants
Confidently set the right prices at the right time with our AI-powered, data-driven guidance.
Pricing is hard, and that's ok
Pricing can be a delicate balance. Set it too low, and you risk thin margins and a perception of poor quality. Too high, and your valued customers might turn away.
That's where we come in. With our expert data analysis and AI at your side, making the right pricing decisions becomes straightforward and timely. Our approach removes the uncertainty from pricing, empowering you to maximise profits through a deep understanding of your business landscape, customer preferences, and competitive dynamics.
We don't just offer recommendations; we follow up to ensure effectiveness and provide detailed reports on sales performance and the impact of your pricing strategies. With our support, you'll have a clear view of how your restaurant is performing and the tangible results of your pricing choices.
Pricing is the biggest leverage towards profitability
A 1% increase in price can lead to an 11% increase in operating profits for the average restaurant.
Optimal Pricing
Promotional Pricing
Elasticity Estimation
Dynamic Pricing
FAQ
Our AI algorithm begins by thoroughly analyzing your restaurant's data, employing advanced statistical methods to identify the best current prices for your offerings. This analysis isn't done in isolation; it incorporates a wide range of external factors such as competitor pricing, your location, economic trends, and even weather patterns.
Following this, our industry experts review these recommendations. Our consultants then collaborate with you to clarify any uncertainties, ensuring the pricing strategy is perfectly tailored to your restaurant's unique needs.
Absolutely. Our role is to provide well-informed pricing recommendations, but the final decision is always yours. Depending on the service you choose, we can also offer insights on how your chosen prices align with our suggestions, allowing you to make the most informed decisions for your business.
The frequency of updates varies with the service selected. For most services, we update pricing recommendations weekly. However, for dynamic pricing, updates are made daily to ensure your pricing strategy remains aligned with current market trends and demands, keeping your business competitively positioned at all times.
Yes! When you join us, we provide detailed instructions for seamlessly integrating Lagrange with your existing systems, including your Point of Sale (POS). If our system doesn't currently support integration with your specific POS or other platforms, we'll initiate a dedicated support request. Our team will then collaborate closely with you to ensure successful integration and get your scheduling system operational as swiftly as possible. This customer-focused approach ensures that you can benefit from our advanced scheduling capabilities without any hassle.
You have the flexibility to choose whether to apply dynamic pricing during special events and holidays or treat them as regular days. If you opt for dynamic pricing, our algorithms will analyse your typical sales patterns during these occasions and adjust the prices to optimise performance, ensuring that your pricing strategy is perfectly attuned to these unique periods.
The key to a well implemented dynamic pricing strategy is transparent customer communication. By clearly explaining the factors that influence your pricing, you can build trust with your customers and ensure they understand the value of your offerings. This approach is particularly effective when combined with a loyalty program or a subscription card, which can provide additional incentives for customers to choose your restaurant over competitors.
The time it takes to accurately assess the impact of new pricing strategies can differ depending on your restaurant's type and customer volume. A busy restaurant with a high turnover rate might see noticeable results in less than a week. In contrast, a fine dining establishment serving a smaller number of clients daily may require more than four weeks to gauge the effectiveness of the pricing changes.
Our service is designed to continuously monitor the market for any changes that could impact the restaurants we collaborate with. Should we identify a significant shift, we will promptly alert you and offer guidance on adjusting your pricing strategy. This ensures your business remains optimally positioned even in the face of rapid market changes.
We offer ongoing support through various channels. You can always access our extensive library of documentation and instructional videos for reference. These resources are comprehensive and user-friendly, covering a wide range of topics and common queries.
Additionally, if you have any specific questions or encounter challenges, our dedicated customer support team is readily available to assist you. We are committed to providing prompt and helpful support to ensure that you have a seamless experience.
Trusted by Top
Restaurants
Lagrange has been transformational for our restaurant. Their innovative scheduling solution helped us handle sales fluctuations while maintaining a payroll-efficient rota. Their insightful pricing and financial analysis provided us with clear direction, significantly contributing to our strategic planning. Working with Lagrange means partnering with a team that's deeply committed to guiding the future of our business.
It's still early days in our collaboration with Lagrange Systems, but we're already impressed by their diligence and insightful contributions. Their scheduling system uncovered significant staff inefficiencies within our operations, and the team highlighted several strategies that we could employ to enhance our profitability. We're genuinely excited about the potential of this new partnership!
