hosting events – Growing Forward

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There’s much to love about having your own restaurant, but it’s just a fact of life that it’s not the easiest industry to be in. Competition can be fierce, and operational costs always seem to be high. That’s why it’s super important that restaurant owners find ways to boost their profits, beyond the usual evening dinner crowd. In this blog, we’re going to take a look at a few tried and tested methods that other restaurants have utilized as a part of their operations.

Inviting Offers

It’s likely that you’ll find plenty of people coming through your doors on a Friday and Saturday night, but not so many people coming in throughout the week. People usually save their money for fun at the weekend, so that makes sense. As such, it’s worthwhile giving the people an incentive to visit your restaurant in quieter periods. You could run a special offer during the first half of the week, for instance, where prices are lower than they are at the weekend. It’s also worthwhile looking at appealing to the lunch crowd. Profits won’t be as high as they are for evening meals, but it will make a difference.

Reducing Waste

You’ll spend a lot of money on ingredients for your meals, but what percentage of your ingredients actually end up on the plates of your customers? All industries produce waste, and it’s no different for restaurants. It’s important to know that this waste doesn’t just have to go in the trash can, however. There are companies that will pay for this waste. Gfcommodities.com, for example, will pay restaurants for their yellow grease. There are other companies that will take your waste food to make fertilizer. Though the amount will vary, you can end up getting paid for all that your restaurant produces, not just what ends up on the plate.

Hosting Events

If you haven’t been hosting events at your restaurant, then what are you waiting for? There are a lot of people out there looking for spaces to host wedding receptions, corporate events, and parties. If you have a well-designed space, then your restaurant might just be the perfect place. This works especially well since people will pay for the exclusivity of your establishment, and will spend money when they’re there, too.

Reduce Staff Turnover

You probably already know just how important staff can be for the success of your restaurant. There’s a big difference between poor waiting staff and outstanding staff, and it really makes a difference to the bottom line. And of course, it’s also expensive to hire employees — both when it comes to advertising the jobs and the lost productivity during the training stage. As such, it’s recommended that you take steps to reduce staff turnover. This will involve developing a robust hiring policy so that you always bring the best talent on board, which will reduce the need to rehire when an employee doesn’t work out, and also treating your staff well so they will stay with you.

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It’s in the best interest of your company to reach as many people as possible. While you’ll be doing a lot to advertise your business on the web, it’s important that you don’t overlook marketing your products and services in “the real world,” too, even if you’re an exclusively online organization (the people walking the streets also use the internet, let’s remember). And the good news is that there are plenty of smart ways you can advertise to people in your area, using innovative and creative campaigns. We take a look at a few methods below.

Guerilla Marketing

If you’re a young and innovative startup that’s intent on disrupting the game, then why not look at developing some street cred by engaging in a guerilla marketing tactics? There are plenty of ways you can do it — you can leave stickers in bars, hang posters on walls, or even hire a spray painter to create a custom piece. Of course, you’ll have to make sure that whatever you’re doing is legal, but if you’re more of an alternative company, then this could be the right way to go. More traditional companies should look elsewhere.

Driving Around

You’re going to spend a lot of time in your vehicle for both business and personal reasons. And just think: how many people do you think you drive past every day? While most people don’t look up at all the cars that pass them by, they do pay attention to the vehicles that seem to have something a bit different about them. Consider wrapping your car with your branding, and you’ll have an eye-catching vehicle that promotes your brand. If you’re located in a smallish area, then people will eventually recognize the car — and pay attention to the name on the side, too.

At Your Space

Your offices or worksite may fundamentally be a place for you to work, and not generally open to the public, but it doesn’t always have to be this way. One effective way to gain interest in your business is to host events at your premises. This could be a social event (wine and music), a market stall, or business event — the type will depend on what your company does/what the space is suitable for. For maximum impact, you’ll want to subtly convey the message of your company by incorporating wall graphics and displays, and showcasing your products and services. You’ll have a fun event that will push your business forward, and also gain the interest of potential new customers.

Pop-Up Street Stalls

Finally, look at taking your company directly to the streets, if it’s appropriate. If you’ve done your market research correctly, then you’ll have a pretty solid idea of who it is you’re targeting. Set up a stall in an area that’s heavily populated by people who fall within that demographic, and showcase your company. To get the most interest, it’s best that you have something to offer to passersby, such as a free sample or trial of your product.