John Moore at Brand Autospy has posted about the Terra Bite Lounge, a “coffee shop where there are no prices for the coffee drinks, pastries, and sandwiches. Instead, customers pay whatever amount they feel is appropriate.”
Both restaurants have been in operation for some time now, and the system seems to work for them.
You don’t hear of businesses like these too often, but I think that the Honesty Pricing system could work for a lot of businesses. Providing you are offering a product or service worth paying for, I think most people would do the right thing and pay a fair and reasonable (if not generous) price.
Seems like a quick way to turn your business into a Purple Cow, too.
Does anyone out there have other examples out there of products or services offered on an honesty pricing structure?