Price - Value - Quality
Today I have been thinking about Value, Price, and Quality. Some see it as a triangle. Price goes up with quality, and value goes up with price.
Here are my thoughts on the subject for those who say our prices may be to high, or that we are "pricey".
Let's talk about vehicles before burgers. I see a great value in my F350 truck that has 4WD and a bale-bed on the back! However, most people in Rockwall do not find this combination valuable. I need to be able to haul hay, drive in the mud, and haul heavy loads of cattle... so this type of truck is valuable to me, but also cost more money than some other vehicles. For the commuter, a smaller car with great gas mileage is going to be of more value than my big truck. To the family value may be found in a larger SUV or minivan. The high school student is grateful for the hand-me-down cash-car they have, just to have wheels. The point is clear to me, everyone values different things depending on what is important to them.
Let's take this idea to burgers. There are tons of burger options in town - like car lots in town!
Some people value price over quality. It's all about the money. While others take into account that there is more to life than just saving a buck, and it matters what we put into our bodies. There are nice places to spend money on chef-made burgers, paired with nice wine lists, along with comfy booths and waitstaff. While some value this type of burger, the price will be pretty steep. Some people only eat to get full, and simply do not care about taste, quality, or healthiness of food. If cheaper meat scraps and cuts are good enough for a person in this group, then spending more money for better quality is a waste. They simply do not value quality. (I spoke with someone one time who said they prefer the taste and texture of Walmart ground beef! Well, to them Wells is of no value.)
For us at Wells Cattle Co. our burgers are about quality whole-ground beef, with purity and clean-raised animals. We are a grass-fed, hormone free operation... this is valuable to many people today. Traceability. Honesty. Value! Then to others it is not value, it is extra expense.
Here's our goal: We are striving to create the best value burger on the market: Great cattle | ranch-raised | all the prime cuts included in the grind | grass-fed | 7-day dry aged | hormone-free | growth antibiotic free | hand-pattied fresh daily burger with the freshest ingredients. For a total of: $8.50, plus tax.
Let's put that price in perspective for a moment... Regular Sub Sandwich at Store X - $8.25, and the 8 piece wings at Store Y - $8.89, a bowl of spaghetti will cost $10-$12! These are without drinks or sides, and they are not high-end proteins. None of these companies make any claims about their meat quality or meat sources. Finally, I took my family to a popular breakfast restaurant the other day and our meal was $60 with tip. When you consider the four of us, it averaged $15 per person for a standard fare breakfast.
So to sum up these thoughts - Value is dependent upon the level of Quality you are seeking... and the price is reflective of your choice. For the Quality of our burgers at Wells the Price makes it an outstanding Value.