Joe Weisenthal

Is it true that you're a fool to buy the second most expensive one?

Wait, actually, this is really interesting about that relationship.

How often are suppliers changing?

When you come to an agreement with a supplier, let's say, okay, you find your scallop provider who can deliver that volume.

Do you lock it in?

Do you say, okay, we're going to do this for six months?

Is it for a week?

You come to an agreement, maybe you come to a price.

What is the duration of that agreement?

All right, I totally believe you that it's... No, I totally believe you that you want the menu, that you want to be accessible to rich and poor and that you want fair relationships or fair agreements, all this stuff.

You want it to be accessible.

It's part of the ethos of the pubs in general, et cetera.

Okay, all that being said, there have to be times where, okay, your supplier's prices go up, so you have to raise menu prices, right?

How do you decide when to make that decision?

This is the question that people from the Bank of England might be listening because they're trying to understand about how much inflation pricing power retail establishments have.

How do you think about when to make that decision?

It's like, you know what?

We're going to have to adjust to higher prices.

Is there a difference between just sort of, you know, conceptually or menu design or anything between, you know, how you think about the business of a true local, where it's the same people day in and day out and it's their pub versus a place such as yours where, yes, of course you have regulars, but also you're going to have people who are just only going to be there one time in their life.

Maybe one day he'll come on.