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158 Comments
- Pasaris, on 02/03/2009, -2/+212You could call it a Restorrent.
- Boing, on 02/03/2009, -2/+81That's the best damn 50 cent prime rib, ever.
- MrCrumbles, on 02/03/2009, -1/+69Homer: What do you mean by `suggested donation'?
Clerk: Pay any amount you wish, sir.
Homer: And uh, what if I wish to pay ... zero?
Clerk: That is up to you.
Homer: Ooh, so it's up to me, is it?
Clerk: Yes.
Homer: I see. And you think that people are going to pay you $4.50 even though they don't have to? Just out of the goodness of their... [laughs] Well, anything you say! Good luck, lady, you're gonna need it! - bhavinp, on 02/03/2009, -7/+64They're gonna be out of business so fast. I'm not a complete ass and not pay a dime but I'll definitely end up paying less than the actual cost of the meal. I think most people will do the same, unless they have a lot of rich customers that might pay more than required. This restaurant will attract a lot of home less people.
- bkrejchi, on 02/03/2009, -0/+42would it be seeding to bring food and share it?
- boerema, on 02/03/2009, -6/+47Did anyone bother to tell him that when Radiohead released "In Rainbows" like that, most of their income came from people buying the box set (the one with a fixed price)? The reports I remember reading said almost half of downloaders paid less than 50% of the normal CD price.
That being said, I think it is a really cool idea. I hope if works out for him and all those he is helping. - Konrad9, on 02/03/2009, -1/+38I've actually seen statistics for restaurants trying this, average ticket price goes down, but the increase in traffic leads to an overall increase in profit.
- Daemastrius, on 02/03/2009, -0/+36Wasn't food already open source?
- inactive, on 02/03/2009, -9/+40Open source food.
- asnider, on 02/03/2009, -0/+30A place in NYC did this a few years ago when they first opened, hoping to figure out what the average customer was willing to pay and then use that information to set their prices. And, of course, all the publicity it got them was also likely a huge factor in their decision, as it surely is in the case of this place in London.
Even if they lose some money in the month they're doing this, the free advertising will probably be more than worth it in the long term. - MrCrumbles, on 02/03/2009, -1/+30I think that's exactly why he thinks it will work. Most of his customer base is probably relatively affluent, and willing to pay more. Those customers who do overpay are probably also treated very well by the management, get top seating preference, etc.
It's also a publicity stunt to gain new business. Once the economy rebounds, they can go back to charging normal (or higher) prices and still have a reputation as being "good to the people." So they are not only more well-known but also highly respected in the community. It's a good plan. - Spiffness, on 02/03/2009, -0/+27To expand on Barius' comment, you also have to factor in that when you are dining you are face to face with your waiter, the busing staff and you know the cook is back there working away (sometimes being able to see them). It's a bit different than sitting in front of a monitor in your underwear deciding how much you'd like to pay. Plus your generally with company, and nobody wants to appear cheap. It's a better stacked playing field for the restaurant than the music industry.
- wTheOnew, on 02/03/2009, -0/+26Did anyone actually read the article where the owner stated that he has already seen an increase of 20% in what people are paying for the meals?
- barius, on 02/03/2009, -1/+25I don't think that's entirely relevant because the two industries are perceived very differently by the public.
People have been complaining for years that music is overpriced and under-quality so it should be no surprise that they would pay less than what the label might have charged. Further, a high price in the music industry is not generally perceived to provide any significant increase in quality.
Food, on the other hand, is an industry where a high price is usually associated with higher quality. Thus, those patrons that genuinely enjoyed their food will be more likely to associate their experience with a high price and therefore feel obliged to put down a significant chunk of change even if they don't have to. - whytey, on 02/03/2009, -1/+24no people will just leech
- scratend0788, on 02/03/2009, -0/+21ok, but when we bought in raibows we did not have tom yorke standing right in front of us.
- Aphrael, on 02/03/2009, -0/+19If you're looking at what they quoted from the menu, it seems to be a fairly up-scale place, so I doubt they would let homeless people in. Also, the owner has 3 other restaurants, so this will get him free publicity while he can maybe bear the possible losses a bit easier than if this was his only venue. So it might not be as foolish as you think, although it probably makes for an interesting psychological study...
- chicaneuk, on 02/03/2009, -0/+17I wish I lived nearer London. I'd go for a meal and pay above the odds just for the fact that this guy has the balls to do something like this.
- BooLag, on 04/23/2009, -1/+16FREE FOOD!!!
- PhoenixFlames, on 02/03/2009, -1/+15Interesting move from a marketing perspective.
- umertariq, on 02/03/2009, -0/+14i will pay more or less depending on the facial expression of the waiters
- jascination, on 02/03/2009, -0/+14There's a vegetarian restaurant in Melbourne called "Lentil As Anything" which has been doing this for years; they dont put any prices on their menu, and after eating the diners just pay what they think the meal was worth. This is not a one-monh publicity stunt, but rather their whole business model.
- rolf, on 02/03/2009, -0/+13If it were open source food, they'd give you the entire recipe upon request or when delivering the meal. Open Source by itself doesn't have anything to do with the pricing.>.>
- markduyvesteyn, on 02/03/2009, -0/+13i used work as a bike taxi in a city in new zealand. I didn't have prices, i just told the customers to pay what they thought the trip was worth after we got to the destination. most people were very generous once they saw how much effort went into hauling the drunk asses from pub to pub. One trip i got about 50USD for a five minute ride.
- flashmc, on 02/03/2009, -0/+12On World Cafe in Salt Lake City has been doing this for I think five years now; they haven't gone out of business yet.
- spthomp, on 02/03/2009, -0/+10you'd eat their what?
- Whackly, on 02/03/2009, -1/+11I gave radiohead what the album was... would have given more for FLAC. Pay For Quality
- paulb0t, on 02/03/2009, -0/+9Brett...how much are you selling those superstraws for?
One dollar.
How many straws does it take to make a superstraw?
Five.
What is the total cost of those five straws?
Two fifty.....oh...........But I've sold quite a few of them........Ooohhh. - rolf, on 02/03/2009, -0/+9Well, what happened to that place in NYC? Was it a success?
- inactive, on 02/03/2009, -5/+14It's the UK. We have more class than you.
- inactive, on 02/03/2009, -1/+10So you pay for balls eh.
- openingsound, on 02/03/2009, -3/+12guys, its a real good time to be a bum in the UK.
- lepetitmousse, on 02/03/2009, -0/+9brilliant!
- lulzitsadigg, on 02/04/2009, -1/+9Amy Winehouse.
- nomnombacon, on 02/03/2009, -0/+8There is a cafe near Denver CO, called SAME (So All May Eat), where letting customers choose their own price (which may even be a couple of hours doing the dishes) for healthy organic meals. Check them out http://www.soallmayeat.org/
Notably, this is their intended business model, not a result of tough times. Maybe if more people opened up their hearts and helped others, we'd all be better off. - Nyctobello, on 02/03/2009, -0/+7Ideas never go through recession.
- 2Six119, on 09/10/2009, -0/+7On one hand you have the common cheap-ass who will pay much less then the actual cost, but on the other hand they get a ***** of publicity and probably rich people coming in to "support their cause" and donate excessive amounts of money just for the sake of doing so, in an otherwise mediocre lucrative restaurant.
- andrewtheart, on 02/04/2009, -0/+7Spiffness: Exactly right. The "intimidation/guilt" factor will come into play to some substantial degree, at least initially. It takes a really desperate person to just eat and leave without paying a cent.
- pintomp3, on 02/03/2009, -1/+8Until Monsanto showed up.
- mannymix03, on 02/04/2009, -0/+6A gas station near me did they same thing, they sold gas dirt cheap during the gas crunch, then they jacked up the price and people kept going cuz they were the "good guy"
- benologist, on 02/03/2009, -3/+9He's going to beat the credit crunch alright...... by going bankrupt.
- Vidalsassgirlie, on 02/03/2009, -0/+6their whole thing?
- Styvo, on 02/03/2009, -1/+7Just like your parents failed at contraception.
- mickstephenson, on 02/03/2009, -0/+6He can get around that by having a dress code
- inactive, on 02/03/2009, -1/+7RTFA.
- TonyCubed, on 02/04/2009, -0/+5I doubt he'll accept foreign currency, even better, American money. :P
- Stonekeeper, on 02/03/2009, -0/+5http://www.instantrimshot.com/
- JiveRabbit, on 02/03/2009, -0/+5More cookies causes more cookies
- Ravatar, on 02/03/2009, -0/+4I bet people also grossly overestimate the cost of the foods they're paying for in a restaurant, too.
- bsmang, on 02/03/2009, -0/+4You might be surprised at the "actual cost" of your meal in many restaurants.
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