November 20, 2020
Operating a restaurant has become synonymous with cut-throat competition in a notoriously fickle industry. Which might explain why the failure rate in the restaurant business is so high.
That’s why we’ve put together a list of the best restaurants most coveted secrets for surviving and thriving in the hospitality business. Here are our top tips for transforming your restaurant business into one of your town’s most popular places to eat!
Unless you’re operating multiple locations or are part of a well-known franchise, it’s a safe bet that a large chunk of the local market has never even heard of you! Partnering with a well-known brand like Bolt Food will do wonders to improve your visibility and expand your reach to thousands of hungry customers every single day!
Offering fast, convenient take out and delivery is also a fantastic opportunity for existing customers who love your menu but aren’t looking to eat-in for any variety of reason (work, weather, Netflix) to take their favourites to go. Even better, a recent study found that 20% of customers admit to spending more on take-out when compared to their regular dine-in spending habits.
Even if your restaurant typically caters to a higher-end dinner crew, slightly tweaking your menu to attract a lunch crowd can help you tap into a new (and highly profitable) revenue stream. Keep in mind that lunchtime customers are looking for options that are quick, convenient, and a good value.
Your best bet? Create a small selection of cost-effective entrees that can be assembled quickly, and offer them at a special discounted rate.
The other lucrative aspect of offering lunch is it puts your restaurant in the running to receive higher-ticket corporate orders. All things considered, a well-executed lunchtime menu can mean a mid-day gold rush for the savvy restaurateur!
While it can be tempting to offer an expansive menu to ensure your restaurant offers something for everyone, this “more is more” strategy guarantees sky-high food costs which will take significant bites out of your bottom line.
A much more effective strategy is to streamline your menu to offer your customers a carefully- curated selection of only your most popular (and profitable!) dishes. This not only helps to keep food costs low, but also makes it that much easier to plan intelligently when it comes to ordering inventory and managing cash flow. Bolt Food’s intuitive analytics tools can help you pinpoint which menu items are winners, and which ones aren’t so you can continually improve your offerings.
They don’t call it the “hospitality business,” for nothin’! A loyal base of customers is the lifeblood of any successful restaurant, not only because they keep coming back, but because they are much more likely to recommend you to family, friends, and strangers on the internet!
With Bolt Food, customer service for your takeout and delivery business are handled in real-time by local representatives. Whether it’s the wrong address, a misplaced entree, or spilled soup, our team of highly-trained reps know just how to make things right. Without the added stress of having to juggle those inevitable customer service issues that have a habit of popping up during the dinner rush, you’ll be able to focus on serving up great food. Let Bolt Food make sure it gets where it needs to go.
A solid understanding of who your customers are and then keeping up-to-date with their evolving wants and needs will ensure your loyal customers keep coming back for more. Here are a few examples:
Be sure to highlight these choices (tastefully, of course), so your customers know you’re listening! Paying attention to your target market’s evolving tastes and preferences can be a major differentiation point when it comes to standing out in a sea of competition. Being flexible and adapting quickly can make all the difference when it comes to building and maintaining a successful restaurant brand long-term!
Looking to boost your order volume? Intrigued by the idea of having a fleet of experienced delivery couriers at your beck and call? Become a Bolt Food Restaurant Partner!
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