Making a name for yourself in the restaurant industry can be especially challenging considering how many different competitors are out there. With stiff competition and more always on the rise, finding new ways to increase your revenue is always a priority. Whether you own a new restaurant or have been around for a while, there is always an opportunity to push your business further.
Review these tips on increasing revenue for restaurants and consider how they could apply to your business.
Offer Mobile and Online Ordering
While people have long ordered food from the comfort of their home, the arise of options such as Uber Eats and SkipTheDishes have allowed customers to order food straight from their favourite restaurants. Using these companies to bring your food directly to customers also saves you the trouble of hiring drivers or paying for delivery insurance. By offering a new format for customers to order your food, you can open up a new stream for revenue while keeping up with the latest trends in food services.
Evaluate Your Menu
If you have not updated your menu in a while, it may have some connection to a dip in revenue. Customers are usually interested in trying new items at their favourite restaurants the same way new diners may want to know the menu is always updating. Review the products on your menu with software like Lightspeed to see which are not selling enough, and make sure there are options for diners of food preferences. This can also be an opportunity to discuss with your serving staff any comments from customers regarding menu items they wish to see.
Provide a Promotional Menu
After you have taken the time to evaluate and improve your menu, consider adding a promotional menu to generate more buzz for your restaurant. Offering your patrons a special menu alongside your traditional one can demonstrate that your restaurant is always keeping up with trends. You can also use promotional menus as an opportunity to provide discounts and offers. A schedule with daily offers can ensure customers become frequent visitors for the days that interest them most, while also ensuring your restaurant cuts out the competition.
Upgrade Your Restaurant Technology
Regardless as to the rest of your restaurant being stylish, an outdated POS system can make all the difference for your customers. Old cash registers and outdated mobile payment options can be unreliable and problematic in a busy restaurant. In the event issues occur at time of payment, your customers may not be able to pay how they wish to which can affect tips, word of mouth, and whether or not they visit again. Reach out to Moneris to review how you can equip your restaurant with reliable technology that performs when you need it.
Start a Gift Program
If you are looking to ensure your customers keep coming back, a gift program is a great way to encourage frequent visits. Diners are always excited for free items or discounts, and if they already love your food, they are sure to come back for more. Offering gift cards for your customers to purchase and give to their friends and family is a great way to encourage new customers to visit your restaurant while allowing your regular guests to devote themselves more into your business. Speak to your Moneris Service Agent to find out how you can equip your restaurant with a gift card program.
To learn more about how you can improve your restaurant, check out our other articles on advancing your business, 5 Integrations in Your Restaurant Point of Sale to Help You Work More Efficiently and Tips for Table Turnover in a Busy Restaurant.
The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed.