Steakhouses face slim profits amid rising beef costs

Steakhouses are having a tough time making money because beef is getting more expensive.

Even though their customers are wealthy and can pay higher prices, the cost of beef is cutting into their profits.

A $500 steak dinner might only make the restaurant $25 in profit.

This is a big problem for steakhouses because they rely on selling expensive beef dishes like porterhouse and rib-eye.

While customers aren't complaining about the prices, the restaurants are feeling the pinch from rising costs.