Dollar slice dead 99-cent pizza shop hikes price to $1.50 months after opening
The dollar slice is dead, again. It seems that the 99-cent competitors were unable to withstand the soaring inflation, leading them to increase their prices. An East Village pizzeria, 99 Cent Pizza, opened its doors in late March on East 14th Street, offering a glimmer of hope for the dollar slice’s future. However, just two months after its grand opening, the shop raised the price of a cheese slice to $1.50.
Customers are expressing their disappointment in the price hike; middle-school student Elijah exclaimed, “It’s sad being a 6th grader and seeing everything get more expensive.” Other customers are upset that the higher price did not lead to better quality pizza. Actor Curtis Bonner, 50, complained that his slice “tastes like grease!”
According to a 23-year-old employee at 99 Cent Pizza, the sudden price hike is due to inflation. The cost of flour rose from $18 to $28 per month, making it difficult for the owner to break even with the dollar slice on the menu. Eli Halali, co-owner of 2 Bros., confirmed that higher ingredient costs had made it impossible for his company to continue offering the dollar slice.
Scott Wiener, the pizza maestro behind Scott’s Pizza Tours, believes that the dollar slice’s expiration date was already approaching, even before inflation walloped the country. Restaurant leases typically last ten years, and if signed in 2010, a rent increase occurs by 2020, rendering the business model unviable.
FAQs:
Q: Why did 99 Cent Pizza raise its prices?
A: The sudden price hike was due to inflation. The cost of flour rose from $18 to $28 per month, and the owner was unable to break even with the dollar slice on the menu.
Q: Did 2 Bros experience similar difficulties?
A: Yes, Eli Halali, the co-owner of 2 Bros, stated that higher ingredient costs made it impossible for the company to continue offering the dollar slice.
Q: Why did Scott Wiener believe the dollar slice’s expiration date was approaching?
A: Wiener believes that restaurant leases typically last ten years, and if signed in 2010, a rent increase occurs by 2020, rendering the business model unviable.
The 99-Cent Pizza Shop Increases Price to $1.50 Just Months After Opening, Signalling the End of Dollar Slice.
The dollar slice is dead once again, as an East Village pizzeria that hoped to fill the void left by 99-cent competitors, who collapsed under inflation, has hiked its slice price to $1.50 just two months after opening. In March, 99 Cent Pizza started offering cheese slices for a dollar when famed 2 Bros. Pizza raised its price from one dollar to $1.50. Last week, the shop started rolling out new menus featuring cheese slices for $1.50, and customers are not happy. Middle and high school students who used to flock to the restaurant to grab a quick lunch are sighing. “It’s sad being a 6th grader and seeing everything get more expensive,” said Elijah, a middle-school student intending to take his business to delis for more substantial fare like bacon-egg-and-cheese sandwich. As inflation continued to take a bite out of their bottom line, dollar slice shops said they raised their prices. However, other customers were disappointed that the higher price wasn’t leading to better quality pizza.