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Was Endless Shrimp to Blame for Red Lobster's Bankruptcy?
Patrick Boyle On Finance
Know Your Profit Margins
Understanding your business's profit margins is crucial to making informed decisions. In the case of the red lobster restaurants, they found that they would profit with orders of two plates or less, but start losing money with a third plate. Despite the popularity of the endless crab deal, where most customers ordered more than three plates, this led to significant losses. It is essential to assess profit margins before launching promotions to ensure profitability.
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