Most restaurants experience seasonality or slow periods. That’s why succeeding as a restaurant or bar means anticipating these fluctuations.
What are the vital steps to survival in a dynamic industry such as food service? How can you steer through the ups and downs of foot traffic and revenue? To answer those questions, there are a few tips worth remembering:
- Expand your service. Certain times of year will naturally be slower at a restaurant. Whether it’s bad weather, college towns, or other circumstances that slow down business, you can make the most of it by offering delivery or carryout options. Promote your delivery services so people know they can order in for the holidays or a weekend storm. This, at least, can encourage more purchases through convenience.
- Create promotions. Sometimes, running promotions can be just the ticket to draw new customers – whether it’s loyalty programs or buy-one-get-one-free wings on Thursdays. It doesn’t have to be discounts, either. Other strategies to build buzz include using live music or local community events. These give you an opportunity to positively interact with your community.
- Think lean. Another way to make strides during a slow period is to lower overhead. Cutting overhead refers to the costs of the business excluding the direct fees of developing the product. This might mean lowering marketing expenditures, automating sales and labor reports, cutting work hours, etc.
To learn more about how to make it through slow periods at a restaurant, take a look at the accompanying resource.
Author bio: Dana Krook is Content Marketing Specialist at TouchBistro, a POS solutions provider for restaurants. She focuses on sharing tips for and stories of restaurateurs turning their passion into success.
Infographic created by TouchBistro, an epos hardware provider
- Learning the Basics of Forex Trading as a Beginner - July 28, 2021
- The Biggest Financial Mistakes Every Business Owner Should Avoid - July 26, 2021
- Immigrating with Your Spouse: What to Know - July 26, 2021