The year 2022 was full of surp(rises). Everyone had their own way to tackle inflation and now that 2023 is approaching, businesses are trying to figure out the key to maximise profits while confronting the cost of living crisis.
Festivities are around the corner and this is a great time for restaurants and hospitality businesses to attract more customers and yield more profits. And why not? People like to spend time with their loved ones, eat, celebrate and drink together during Christmas. As per Toggle UK, 13% of UK adults are planning to go to a restaurant on Christmas eve and 24% plan to go to a pub or eatery on New Year’s eve.
It is an opportunity for restaurants, bars, and cafes to generate an abundance of awareness, an increase in revenue per guest, and even repeatable business. While all other businesses are often closed during this time of the year, restaurants and takeaways can clearly bank on festivities, which is possible with a little preparation.
1. Create a holiday/festive menu
Don’t use your existing menu for holidays. Create a new festive menu with special holiday rates and food items. Customers like to go by holiday themes during Christmas and if they find your menu appealing, they are surely gonna celebrate the festivities with you. In order to expand the business and increase profits, a restaurant will need to attract new clientele, which is possible by highlighting a new festive menu.
Drink specials are also a great way to boost ticket sales and profitability during weekdays. Alcohol consumption is pretty high during the festive season so a promotion that boosts orders can generate higher profitability. Promote your offers on social media to boost exposure.
2. Streamline efficiency and cut down on waste
As a restaurant owner, you know that wasting food and paper products can add up quickly and cost you a lot of money. To ensure your restaurant is running efficiently, it’s important to evaluate what customers and employees are throwing away. By doing this, you can identify areas of improvement such as reducing portion sizes, changing ingredients, or streamlining processes.
Most restaurants carry out everyday procedures for daily operations to create consistency regardless of who is performing the task. If any problem areas that waste employee productivity and time, then steps should be taken to better manage employee time and increase overall productivity.
3. Examine food costs to make sure you’re making profits
As a restaurant dealer, it is crucial to negotiate on food items and other inventory. As Christmas is the most expensive time of the season, make sure to buy stuff which is not too heavy on your pocket and lets you make profits easily. At the same time, make sure the quality doesn’t get compromised over the price.
4. Entice prospects with special offers
The holiday season brings exciting offers on everything. Customers expect special offers and discounts during their favourite festival. They are happy to spend but they also want value for their money. You can attract new customers with lucrative deals and offers during weekdays and weekends to amplify your customer base during festive season.
List your restaurant on All Eat platform
Customers want convenience. They want the freedom to access menu and order from anywhere. Every restaurant today is on a food ordering platform. However, it’s up to you to decide which one works best for you. Are you making profits out of it or not?
If you are paying 20%-40% commission to takeaway apps then, the profits would not be that much to help you thrive and cover the costs of operations. However, if you switch to 0% commission apps such as All Eat, you’ll not only be able to afford operating expenses, you’ll start making tangible profits from your business.
As you can see, there are many ways to evaluate and cut down costs, be more efficient, and boost POS sales. Increasing the use of restaurant technology can boost sales, increase productivity, and improve inventory management. And last but not the least, always partner with a good food ordering platform which can help you reach more customers and take more orders on your behalf without charging any commission. By implementing these changes, you can easily boost your restaurant’s income during Christmas and New year.