New York bakery looks to give back to community with ‘name your price’ bread policy despite losing money
A "name your price" bread policy enacted by one Brooklyn bakery is costing the business money, but its chef says they’re not doing it for the sales.
During his appearance on "Varney & Co." Wednesday, Chef Tony Yamera of Bakery by Textbook said the business hopes to help the community with its "pay what you want" bread policy for customers.
"We didn’t do this to make any money," he expressed.
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The transaction is simple.
Customers choose a loaf as well as a price, which could be as much as $9 or "nothing at all," according to Yamera.
"It’s nice to feel that we’re actually doing something, and people are using it," he said, as the bakery looks to continue the offer for as long as they’re in existence.
Despite having the option to pay nothing at all, Yamera said that customers typically pay between $2 to $9 for the bread, as production of one loaf costs around $3 or $4.
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"The hope is that someone who really needs it can walk away paying nothing," the chef said.
Whether the policy is improving sales has not yet been determined, but Yamera told FOX Business’ Stuart Varney that they don’t "do this for the sales" but, rather, "to hopefully help out."
The bakery is not currently offering any other discounted items but hopes to do so in the future.
"You know, we’re still a business, and we have other things to sell. And those are the things that make us profitable. But yeah, we didn’t do this to make any money," Yamera explained.