“Next” restaurant is opening up in Chicago by Grant Achatz, creator of one of the top restaurants in the United States, Alinea.  The new restaurant wiill be called “Next” and will sell tickets in advance which include meal, service charge, and an added premium based on when you want to attend. For example, a Saturday night dinner will cost more than a Monday night one, functioning much like Airlines do.

I’m sure other people have tried this, but variable pricing costs can definitely work when individuals are willing to pay a premium for a specific good or service. Additionally, restaurants are very high in competition- adding to the likely success of this price model.

I think this will reduce their advertising costs as it becomes infamously known among both the foodies and different classes of society. Additionally, restaurants will be able to plan for their nights well in advance minimizing wasteage and other unecessary costs.

Not to mention reducing queues for waiting in line, which is a totally wasted expense. The experience is all paid for in advance you can just go out, enjoy your meal and leave.

Clearly, this is catered towards the high spending, high status consumer. If they were to one day turn something like this in to a supper club, it could spawn a highly lucrative networking world. All the high rollers in one room on a Saturday Night for post-dinner drinks? This could provide a sophisticated meeting ground for many like-minded individuals, a service not initially calculated in the restaurant fee.