North Carolina-based better breakfast chain Famous Toastery explains its strategy to cope with rising egg prices.
In “Rising egg prices have restaurants scrambling to adapt,” Famous Toastery’s CEO and co-founder Robert Maynard discusses how the breakfast and brunch franchise is dealing with rising egg prices resulting from Avian flu-related shortages.
Egg production is down by 10 percent and wholesale egg prices have climbed almost 70 percent since April. Consequently, wholesale prices for eggs have soared. As a result, Famous Toastery, a breakfast, lunch and brunch franchise, may have to hike up the prices of its egg-based dishes soon to compensate for eggs’ current scarcity.
“If you’re in this industry, especially the breakfast and lunch space, that’s all you really talk about,” Maynard told the Charlotte Observer. “It’s a problem.”
Maynard elaborates on the financial effects of the shortage on Famous Toastery’s six locations, spending $800 to $1,000 a week on eggs. The glut in expenditures could potentially hurt the chain’s bottom line and force up the prices of egg dishes, which Maynard has been avoiding as best he can.
Famous Toastery currently has 6 locations, and will soon be opening 4 new locations in the Greater Charlotte area.
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