Nowadays, if you want to make your bar or restaurant stand out, you have to try and make your food and drink as appealing as possible. The better your ratings are, the more likely it is that you will have a fully booked venue filled with happy customers. Unfortunately, Covid-19 has made it difficult to bring clients in to enjoy a good meal and drink. However, there are ways that you can create additional revenue streams to enhance your income. Here are seven ideas to get you started!
1. Recreational Events
The main purpose of any type of bar advertising is to try and bring in more income. However, there may be other ways that you can encourage people to come in to have fun and spend their money in the process. If you offer your restaurant or bar as a venue for additional events, you may have the opportunity to make more money. This could include events like concerts, bingo, and clubs. Try to be open-minded about what type of events you run.
2. Host Occasions
Speaking of events, another idea to make an additional revenue stream is to allow for larger events to be hosted within your venue. This could include birthday parties and wedding events. Try to offer package events for your venue. That way you can make more money in the process.
3. Bar & Restaurant Boxes
If you are thinking about smaller ways that you could earn extra income, you could offer your meals or drink recipes in small boxes that can be shipped to different people to enjoy. This could be sold as a gift box and contain the ingredients that people need to recreate your recipes perfectly.
4. Eating-Out Options
One of the best ways that you can expand your income is by offering takeaway options for your customers to enjoy. Utilize a food delivery service, such as Deliveroo or Just-Eat, in order to make it easier for your customers to find you and ask for food and drink to be sent to them.
5. Food & Drink Pairing
Ultimately, if you own both a bar and restaurant, it may be useful to suggest to your customers the ways that your food could be paired with different beverages. That’s why you could look at the cocktails and wines that you serve, then you could put them together with meals you have on your menu.
6. Retail Products
Does your restaurant or bar have a famous product that your customers adore? Why not have it sold in a shop! This can help you earn some extra income, and help to diversify your brand, cementing you as a brand leader in the industry.
If your restaurant or bar is already famous, you may want to think about creating a range of merchandise for your customers to enjoy! That way they can bring home memories to remind them of their visit.
Are You Ready To Make More Money?
When you open a bar or restaurant, it’s crucial that you think about all of the ways you can make income. That way you can receive extra income to grow your brand in the future.