Joe Weisenthal

I don't really understand how steakhouses work.

Talk to us about building the repetition process.

Wait, this actually, we were, I forget who we were talking about this earlier, but we need to clear something up.

Is it true?

Is it true that it's a really bad idea to order the second most expensive wine on the menu?

This is a thing that they always say, that that is there for suckers and that that's the one at the highest margin.

Can you talk about wine pricing?

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?