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In the restaurant business, the art of pricing food starts with the science of costing food. In simple terms, most restaurants spend about 32% of their budgets on food, beverages, carryout supplies, and condiments. Of course, restaurants sell service, companionship, camaraderie, and food, so pricing menus is both an art and science.
The costing and pricing process differs for various restaurant services because one-time events create their own special costs, and restaurateurs often need to make more money to justify the time and effort of supplying alternative services.