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The Buzz: Pay-As-You-Wish

As the first crowd of customers filed into Panera’s new nonprofit restaurant, only the honor system kept them from taking all the food they wanted for free.nnRonald Shaich, Panera’s chairman, admitted as he watched them line up that he had no idea if his experiment would work. The idea for Panera’s first nonprofit restaurant was to open an eatery where people paid what they could. The richer could pay full price — or extra. The poorer could get a cheap or even free meal.nnA month later, the verdict is in: It turns out people are basically good.
>> welcome back to “the rhode show.” sh you may remember in “the buzz,”bu panera announcednn that they would be becoming a non-profit and they were unveiling a pay as you wish system. panera ‘s chairman admits he had no idea if this experiment w tould work, but he says h it’st’ performing better thaner we might have even hoped.ha here’s how it works. cashiers tell customers their suggested price based on the menu and 60% to 70% of the people pay in full. 15% pay a little more and 15% pay less or nothing at all. a handful of less big donationsti like $20 for a cup off coffee, and nowno panera saysa they plann on openin g more non-profit restaurants in thent coming months. the question is, are you guys surprised that thisth seems to be working in. >> a little, but i’ll tell you what, it’s gotwhit to make you happy, 70% of the people are leaving at least a suggested ifed not more. it makes

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