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The casual dining chain had to file for Chapter 11 bankruptcy recently.
So will it be cheaper to eat at TGI Friday amid bankruptcy proceedings?
1 way it’s possible for you to save money on dining out.
Will TGI Fridays Menu Get Cheaper?
Firstly, this question relies on what the goals of the business are moving forward.
If TGI Fridays wants to grow its market share, it will use a penetration pricing approach.
Once these questions are answered, then the company can move to menu strategies, Kharasch said.
What will improve guest satisfaction?
What will drive traffic in terms of bringing in new customers?
What will drive the most important guest the return customer?
Those that dont sell well (the dogs) will be taken off the menu.
Then the company will determine a new and perhaps lower food cost.
This will require that the company review the portion size and specification for each key item, Kharasch said.
An example might be the size of the burgers.
Some companies are moving towards a larger burger, and this may replace a few of the current offerings.
Kharasch highlighted that a major goal is to keep the bestselling items and avoid increasing prices while increasing profitability.
In McMahons opinion, the way that TGI Fridays restructures all comes down to thinner margins and lower prices.
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