The good thing about food business is the very attractive mark-up profit the owner can impose. This can be possible if it's the owner himself who've designed the business and his mark-up is not dictated as in the case of a franchisor-franchisee set up.
In my case, I use the minimum 100% mark-up value on every item on my menu.
Below is an example.
1. Cost of goods to produce Beef mami - P 16.00 Selling Price: P35.00
2. Cost of goods to produce Longganiza meal - P 25.00 Selling Price: P55.00
This means that for every P1,000 I use as capital gives me another P1,000 in return. I cannot think of a better way to double the money immediately than this way.
Of course, you need to sell an established minimum amount to cover the expenses such as rent, labor, electricity, gas, taxes etc. This is called the BREAKEVEN level of a business operation. After that comes the profit.
BRANDING allows you to increase the price further without people complaining. Having a refutable BRAND name allows the owner to break the cost-value trade-off.
While the price of your product can be much higher than your competitor, your BRAND can even make customers believe the opposite.