Putting Value at the Top of the Menu

If you feel haunted by the numbers 5 and 7 popping up everywhere, relax. Fast food restaurants, the lower end of the QSR spectrum, are luring in customers again with $5 and $7 meal deals for hamburgers, tacos and fried chicken meals (with sides). But after competing on price, there’s not much left to appeal. Actual value comes from much more than that.

The global QSR market was worth approximately $17.29 billion in 2024 and is expected to reach $31.42 billion by 2033, with an annual growth rate of about 6.8 percent from 2025 to 2033. Driving demand is a combination of QSC & P – Quality, Service, Cleanliness and, finally, Price.  Delivering all four is how you can keep guests coming back instead of going for another cheap meal deal.

The Value Proposition

Price is the last point on the value scale because value is largely a matter of perception. What do guests feel they walk away with for the money they’ve spent — a $5 burger, fries and drink they rush through in the car between appointments, or a well-prepared entrée, sides and dessert that may cost three or four times what the burger did but is enjoyed around a table at home or in a clean, pleasant restaurant dining room? The second choice may be perceived as creating more value, making the experience worth the extra few dollars.

To be sure guests get the value message, use language that communicates it. In outside marketing and in-store signage, emphasize quality ingredients, speed, freshness or portion size.

Use terms like “authentic,” “fresh” and “made-to-order” to justify pricing. 

Language like this creates an expectation in the guest that they’re about to experience food and service that are a cut above what they find at the usual fast-food restaurant. But without an appropriate price point, that expectation will not be met. They assume better food and more hospitable service must come at a higher price, and if the price seems too low, they’ll think they’re not getting that level of quality.

People expect to get what they pay for — and pay for what they get.

Seal the Deals

Take it beyond perception and offer real, tangible value with loyalty rewards or limited time offers.

Not only do daily specials communicate value, but if offered on a regular basis and with strategic intent, they also build loyalty.

At Miami Grill, we run a daily value-priced deal, with a different entrée and fries each day — from a Gyro Pita to Half Chicken Cheesesteak. The loyalty isn’t just the feel-good effect of serving affordably priced food, but from the simple fact that guests know they’ll be missing something good if they don’t come back. (That’s why we post the entire schedule of the week’s specials.)

A bonus is that if the guest feels they’re saving money on the special, they might be in the mood to splurge on a premium item, such as an extra side or a hand-spun milkshake for dessert. 

Research bears this out. Research firm Civic Science reported that 34 percent of overall consumers said they’d be much more likely to order if value meal prices and options were routinely offered, while 39 percent of frequent QSR customers said the same.

Valuing Vendors

Just like our guests, we look for value in what we purchase. Everyone’s prices are rising, and that includes vendors who supply restaurant food and equipment. By nurturing relationships with vendors, QSRs can obtain better pricing and get greater value.

Vendor quality is essential to providing the experience guests expect at a higher price point. Prior to purchasing an item, the vendor is vetted, and the food item undergoes a rigorous testing process where we compare multiple vendors and a variety of items from each. We then start the first round of testing in the corporate locations. Once the item passes tests at corporate locations, we expand the test to several franchise-owned locations. If all goes well, we end the test and roll the product out to all restaurants.

When costs rise, restaurants can meet with vendors and ask them to work with them on better pricing. Rather than reducing what we offered our guests, we chose to meet with all of our vendors and ask them to work with us during these challenging times. Nearly all of our vendors were happy to help out, as we have a long-standing relationship with them. Some have been with us since our inception in 1983.

Other ideas: Negotiate bulk deals or local sourcing to reduce transportation and ingredient costs. Partner with vendors on co-branded promotions or volume discounts to drive sales. Explore private-label ingredients that meet quality standards at a lower price.

As minimum wage rises and the cost of goods increases, menu prices may have to follow suit. But by delivering consistent value that the guests can see, feel and, of course, taste, QSRs can maintain an affordable pricing structure. Value for the money should be an important brand standard for everyone in our industry.