Report: Majority of Ohio hospitality business owners intend to raise prices

A recent survey found that 70% of Ohio business owners planned to increase their prices, with 91% stating that they had already raised them to offset rising operational costs. The Ohio Restaurant & Hospitality Alliance (ORHA) reported that this month, 70% of business owners in Ohio were planning to raise prices once again. Biggby Coffee franchisee Gary Dible, who owns four locations in northeast Ohio, mentioned that operational costs had increased since the COVID-19 pandemic, with the price of espresso beans rising from $100 to $180 per box. Dible explained that every aspect of business ownership had become more expensive, and he felt the need to raise prices in order to pay his employees a competitive wage.

Despite his reluctance to raise prices, Dible acknowledged that it was necessary due to inflation and increased costs. He mentioned that his prices would still be competitive compared to other businesses in the area. Customers expressed understanding of the price increases, as long as quality and service remained consistent. The ORHA stated that according to their latest report on the state of the industry, prices were unlikely to decrease in the near future.