4 Ways to Earn More Revenue During Non-Peak Hours
Every business can experience fluctuation in their business during the offseason; the cost of goods going up and down, the economy being strong or weak. A lot can be impacted, including your business. There’s nothing more daunting than looking out into your restaurant and realizing your clientele has decreased significantly during these unsettled times. For a small business, this can have a negative impact on your profit margins.
Here are a few strategies to increase your restaurant's chances for success:
1. Determine your least profitable timeframes.
The first step is to figure out when exactly your slow hours are. Your restaurant point-of-sale system can easily pull these numbers for you.
Here are a few ways:
Hourly Sales - Pulling hourly sales reports allow you to see which hours are busiest and which are slower. With this feature, you can decide if you need to bring an extra employee in to help with the rush or when you don’t need as many staff on hand because business is slower.
Sales Overview - This report can provide you with a high-profile of your daily sales. You can use this to understand the total volume of product going out and money coming in.
Product Mix - Mix reporting helps you understand which products or items are your best sellers and which items are your bottom sellers and everything in between.
2. Check upcoming local events.
Stay aware of upcoming local events. Use these events as opportunities to bring in more business and new clientele. Run some specials on food and drinks to draw customers into your business before and after they go to the event.
3. Weather-based promotions.
When the weather turns cold, customers are more prone to stay at home or when the weather is nice customers are more likely to be out and about, therefore keep an eye on your local weather and start enticing customers with incentives to come into your restaurant or request takeout.
Make a list of promotional items you can send out on your social media accounts for dreary days and both sunny days alike. When you start to see the weather changing, let your social media know about your promotions.
4. Execute a marketing plan.
Social media and web-based referrals are huge for marketing your restaurant. It’s probably one of the easiest and most inexpensive ways to get a message out to consumers and to draw attention to your restaurant. Many businesses have already mastered the art of running a business in the digital age, and with a little guidance, so can you!
When posting, focus on short direct messages which clearly identify what your restaurant stands for and why people should come visit you. Showcase pictures of your food and create a calendar for upcoming events at your restaurant. For a low-cost, you can also launch a promotional ad and set the coordinates so only people within a certain radius of your restaurant can see it.
Filling tables in your business can be tough; you’ll find yourself looking in many different areas of your business to find that perfect niche. Making sure you have a clear budget and creative thinking will put you on the path to success in this highly competitive industry.
For more information on how RedFynn can increase your revenue in your restaurant, call us at (888) 510-9871!