How to Make More Money in Your Restaurant
Opening a restaurant is a popular endeavor these days, and it’s not hard to see why. Owning your own eating establishment comes with its own prestige: a reserved table any time you come in, a fun incentive to offer friends and family, and an exciting investment that keeps you on your toes. However, it’s not all sunshine and rainbows in the restaurant industry. If you’re looking to make it big with your restaurant, understand that you’ll continue to put in blood, sweat, and tears—and likely quite a bit of money. In order to maximize your restaurant’s profitability, consider employing these strategies.
Boost Weekday Sales
Restaurants are notoriously slow during the week, and doing what you can to draw patrons in during these slow times can do wonders for your bottom line. If you’re looking to bring in more customers from Monday through Thursday, it’s important to consider the ways you can attract your target audience. Are you close to local businesses or business parks? Offer must-have happy hours to attract young professionals. Consider offering drink and meal specials on certain days. It might be a half-off burgers and beer Monday, or a Taco Tuesday offering. The more discounts you offer, the more traffic you’ll see.
Host Special Events
There are plenty of ways to bring guests in for special occasions. Whether you decide to host a weekly trivia game or host singles mixers for young locals, you’ll find your imagination is your only limit when it comes to hosting events in your restaurant.
Up the Ante on Customer Service
Guests come to restaurants for more than great food. The best restaurants offer a full experience, and one of the most vital parts of said experience is the customer service provided by your hosts and servers. Take customer reviews seriously. If you continually receive complaints about a specific member of your staff, offer training courses. If they don’t improve, it’s best to cut your losses. Remember that Yelp reviews and their counterparts can have a major impact on your business. Putting your best face forward when serving guests is non-negotiable; even the best of chefs can’t convince patrons to come to a restaurant where they don’t feel respected.
Modern consumers demand convenience. With the advent of services like UberEats, restaurants need to be prepared to offer takeout and delivery services in order to compete. From families to young singles, a wide demographic of people are looking to avoid the grocery store on a busy night and have their favorite meal delivered straight to their door. If you don’t want to hire drivers or pay for delivery services yourself, consider working with companies like the aforementioned UberEats to ensure your food is easy to access.
Improve Alcohol Sales
A significant portion of restaurant revenue is made up of alcohol sales. If you’re not yet serving alcohol, or are serving a limited array of alcoholic beverages, it may be in your best interest to consider the ways you can meet the desires of patrons. If you only have a beer and wine license, you’re likely missing out on lucrative sales. Consider acquiring a more comprehensive liquor license through a brokerage service like License Locators, Inc. Once you can serve a larger variety of spirits, make sure your customers know the change in availability. Train your servers to upsell drinks, and come up with unique concoctions to entice patrons to give your alcoholic beverages a try.
Making more in your restaurant is easy with the right tips in your arsenal. Consider implementing these strategies into your business plan and make a difference in your profits in 2017.