How Much are you Really Paying?
Restaurants mark up your favourite dishes in order to make money, but that means you’re almost always overpaying for something! Financial blogger, Tiffany Heimpel, reveals just how much your meals and beverages are marked up by.
To get a rough idea of how much more you’re paying compare the price of the dish to how much you would pay for those items at the grocery store.
Non-alcoholic beverages (coffee, tea, soda)
All restaurants do this. If you can, hold off on these items, and have them when you get home. If you want something non-alcoholic go for water, it’s free!
Wine by the glass
Restaurant psychology says that people avoid ordering the cheapest wine on the menu, so they don’t look cheap. They’ll go for the 2nd cheapest option, which is actually the most marked up! If you know lots of people are drinking, just buy the bottle, it’ll be cheaper in the long run.
Breakfast or brunch
Items, like eggs, are some of the most marked up items on a menu. Think about how much eggs and toast would cost you to make at home; menu prices for these items might seem astronomical!
Pizza and pasta
Italian foods are some of the cheapest dishes a restaurant can make because of the ingredients low cost. We think they are inexpensive because we are so accustomed to seeing the prices for these dishes at restaurants. This is the restaurant’s way of recovering revenue lost from other parts of the menu.
Steak and seafood
It actually turns out that at most restaurants, steak and seafood are the least marked up items because the ingredients are already so expensive for the restaurant to purchase. They know that consumers won’t be willing to pay the insanely high markups on these items, so they keep it low, and markup cheaper items on the menu!