Quality meat? Quality cooking? Staff and other overhead costs? Etc.
In: Economics
The meat itself is a large part of it. Generally with normal items you aim for a 25-35% cost of goods and hopefully make $10 a plate sold. With an $80 steak, you can put $40 of meat on the plate and still make $25 per plate, so a higher cost of goods is more acceptable. It would also be hard to sell at 25% because it would be a $160 plate, or a much smaller steak.
A $100 steak is probably 40-50% cogs and 15-20% labor, maybe 10% depreciation on equipment and overall about 20% profit or less
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