Niche is an amazing new St. Louis restaurant in the Benton Park neighborhood. After making reservations several weeks ago, I went for the first time Saturday night. It was fantastic!
The Menu has three main categories: First Things First, On to Bigger Things, and Sweet Dreams (appetizers/salads, entrees, and desserts). Though the items listed in each course have individual prices, the restaurant offers diners their choice from each for a flat $35.00. Not surprisingly, almost everyone chooses the “three for thirty-five” option.
Taking a page from Niche’s menu, here’s the resolution for the day: Build A Menu for Your Firm.
- Pick a practice area you are very familiar with, and divide the typical representation into three phases.
- Under each phase, list the kinds of things that you would do for the average client (like initial meetings, fact gathering, pleading preparation, etc.)
- Now, review old bills to get a sense of how much you really charge for each service, and come up with a price for each.
- Prepare a “Menu” modeled on the one from Niche.
Even if you don’t plan on using the menu, it will force you to think about the attractiveness of the flat rate price. Still not sure? Ask your former clients (who’ve previously utilized the services you’ve set forth on the menu) what they think – and most importantly, what they’d have thought if you’d presented them with the menu before they hired you.
BONUS: If you are going to adopt the menu pricing model, go to a good restaurant supply store and have your prices printed in actual menus!
Oh, and one more thing: while you are developing a menu, don’t forget the “Whine List.” Make a list of all of the things the typical client complains about. Try to address those complaints with the client at the beginning of the representation, not at the end.