Quick Win 1: Bring restaurant coupons
Give all customers the first restaurant a coupon with a simple offer redeemable on their next visit (perhaps a free appetizer, dessert or after-dinner drink). The offer should not be conditioned and should be repayable within the next 6 months.
Tell the customer to bring in the restaurant coupon and be sure to ask for information that you can add to your database. Measure results, modify the offer in case of need, and if it brings you more business, make this part of your marketing system.
Quick Win 2: Cut restaurant costs
Even if you’re busy, it pays to take the time to examine your restaurant costs every 6 months. An easy way to increase profitability is to cut costs.
When did you renegotiate your credit card charges? Do you get the best deal for your wine merchant? Review your menu and make your profit margins – which are dishes that give you the best margins?
Create a special menu with these dishes to sell more. Eliminate your 3 courses worse sales and those with the worst margins. You will be surprised how this regular household may affect your results.
Quick Win 3: Rise Restaurant Prices
“If your prices are 10% too low that you have to do three times the work to make the same profit. If your prices are 10% too high, you can lose 43% of your business and still maintain the same profit. “- Larry Steinmetz
One of the fastest ways to increase your restaurant profit is to raise prices. Just a few dollars on several well-selling items you will immediately exponentially.
This may seem like a scary idea, but a closer look at the psychology of price behavior and buying and see why 80% of companies catering undercharge for their products and services.