Teaching Employees About Value

Anyone who works in a well-run restaurant—white tablecloth, deli, or mass market—knows the margins on every item sold. Margins in the food business are notoriously slim, measured in pennies on the dollar. Cost of ingredients, labor, overhead, and the like all go into the pricing of a hamburger that takes minutes to make or an osso bucco that requires hours. Volume matters but bottom lines rest on a foundation of one-at-a-time customer transactions.

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