116. Staying Profitable as Wages and Costs Increase
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116. Staying Profitable as Wages and Costs Increase
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SUMMARY:
In this episode of Coffee Experts Club, Aaron Hovivian, Ben Clatterbuck, and Drew Moody break down one of the toughest realities coffee shop owners face: rising costs and the need to raise prices without losing customers. They discuss how minimum wage increases, higher labor costs, and rising commodities impact margins—and why avoiding price adjustments only leads to bigger, more painful increases later.
The conversation focuses on practical strategies to stay profitable while remaining competitive, including understanding true drink costs, making incremental price changes, and actively monitoring local competitors' pricing. The takeaway is clear: price increases are unavoidable, but when handled thoughtfully and backed by data, they can protect margins, maintain customer trust, and even create opportunities to compete more strategically in your market.
Minute by Minute:
00:00 Beard Banter and New Beginnings
02:28 Navigating Price Increases in Coffee Shops
09:07 Strategies for Adjusting Menu Prices
13:46 Competitive Pricing and Market Research
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