Many restaurants fail because of their inability to keep up with rising operational costs. In a competitive market like the foodservice industry, you have to stay updated on dining trends to grow and retain customers. This is pivotal to generating more revenue.
Unfortunately, to stay afloat and generate profit, some restauranteurs either reduce the quality of their food or increase their menu prices. Either way, this leads to a decrease in customer satisfaction and retention. Not to worry, these five tips will help you increase your restaurant’s revenue.
1. Serve only healthy, quality dishes.
High quality dishes are vital for any restaurant to survive. This means well-seasoned dishes, with high-quality ingredients. You should also avoid oily, heavily fried food. If fried dishes are part of your menu, dispose of the cooking oil after every fried dish. However, avoid pouring it down the sink. When you pour used cooking oil down the drain, it ends up gradually forming clogs in your sewer system.
Not sure how to dispose of used cooking oil? SeQuential makes the process as simple as possible, by providing convenient cooking oil drop-off locations for restaurants and businesses across the West Coast.
All you have to do is transfer the used oil into a sealable container with a secure lid, and transport it to a drop-off location. Once you’re there, carefully pour the oil into the designated container and shut the lid. After that, SeQuential refurbishes the used oil as feedstock to produce biodiesel. The oil recycling company currently produces millions of gallons of ultra-low carbon biodiesel annually. Also note that these containers aren’t designated for garbage disposal, so there should be no cross-contamination.
2. Invest in high quality restaurant equipment.
More sales translate to more revenue for your restaurant. One way to drive sales is by increasing productivity, which invariably translates to customer satisfaction and retention. Conversely, having a large customer base without the capacity to meet their demands will ultimately drive customers away, and therefore decrease profitability.
By investing in premium equipment, you’ll be able to fulfill customer expectations and drive more sales. Not sure where to start? Many sites like gofoodservice.com offer the best deals on restaurant equipment regardless of whether you’re buying single piece or multiple kitchen hardware. This includes ice machines, small wares, deep-fry equipment, disposables, commercial toilet paper dispensers, and restaurant furniture.
GoFoodservice offers you these products at an alluring price, and you get exceptional bargains on high-end equipment for less money. The online store also offers special discounts through consolidated food service coupon codes and promotion codes. With the occasional promo code and free shipping, you can save money without compromising on quality.
3. Optimize your menu.
Optimizing your restaurant’s menu is a proven way to attract new customers and drive sales. Look for ways to design your menu to suit restaurant trends and customer demands. Additionally, your menu should have a variety of dishes, which in turn, gets people interested in buying. You can do this by categorizing the menu to cover the various delicacies on sale.
4. Start online sales.
Ecommerce has revolutionized how retail business is conducted across the world. Presently, many people prefer to make direct purchases online from the comfort of their homes and offices. Several businesses have noticed this recent trend and expanded their operations to cover online sales, in addition to traditional brick-and-mortar stores.
If you’re looking to generate more revenue, try to incorporate online sales into your processes. Start by creating a website or an online channel for making orders and payments. This will also involve hiring delivery guys to get orders across to your customers, but the trade off for the extra income will be more than worth it.
5. Host special events.
Special events attract new customers whilst also retaining regular ones. What’s more, it generates revenue for your business since it’ll spur massive sales. You could partner with leading brands to organize an event that’ll attract your target customers.
These events have the potential to generate enormous publicity for your foodservice brand. Depending on the event’s nature, you could also earn from ticket and branded merchandise sales.