There is money in the restaurant industry. Many owners overlook some key restaurant marketing aspects that turn a loss into gain. These tips make a restaurant profitable and remain so in the future. How much do restaurant owners make? It depends on how well this advice is heeded.
The tips listed here on how to market a restaurant and make a restaurant menu will increase profitability. There are many tools to use to make restaurant menu idea changes that influence the way customers make purchases in a restaurant. Take some or all the suggestions to lower food costs and increase sales.
Food and Alcohol Operational Costs
The average cost of food for a traditional restaurant should be between 29 and 32 percent. Costs for alcohol are about 21 percent. Being aware of these costs helps set menu prices that maximize profit without overcharging customers.
Profit margins tend to be high when menu prices are between $15 and $25. When you buy food, buy fresh, local food. It is cheaper and tastes better than frozen counterparts. Work closely with vendors to ensure you order the amount that is cost-effective and eliminates waste.
Reduce ingredient cost of expensive menu items by using similar, lower-grade options if they are available. Pass the savings on to guests while maintaining or increasing profits. Keep books organized, forecast sales realistically, and make appropriate orders for different days during the week.
Define Your Role in the Restaurant and Hire Appropriately
Overlooking your role can turn a dream of being a restaurant owner into a nightmare. You can’t greet guests, bartend, cook the food, serve, clean, and manage the books yourself. You need a manager, chef, bartender, and servers you can trust. Delegate tasks you don’t need or want to do. Concentrate on making the restaurant profitable and have a balance in your work and life.
First impressions are critical. Have a polite waitperson or host greet customers, welcoming them to the restaurant, using inviting and welcoming gestures to seat them quickly, opening and closing doors for them, and thanking them as they leave. Customers deserve your best and kindness goes a long way in receiving positive reviews.
Cater the Restaurant Toward Customers
Make a Good Impression
Look at your customer base and surroundings. Offering fancy dishes and small portions is not a good option if you are in Southern Barbecue country. If something on the menu doesn’t sell well, remove or re-work the dish. By catering to your customers’ taste, you maximize revenue, and newcomers become repeat customers.
Develop and Carry Out a Restaurant Marketing Plan
Customers must visit your establishment and be satisfied to build word-of-mouth business. Advertising options depend on your budget. Radio, print, digital, and TV are a few. Joining the local Chamber of Commerce is another means of advertising.
It’s an excellent way to mingle with the community and meet potential customers and local business owners. Offer samples of menu items at a community event. Let people know where to get the best dining experience and tastiest food.
Use Social Media Pages and a Website to Build a Digital Presence
Create a website that is easy to find. Put your address, hours, menu, and phone number on the site. Social media networks, such as Foursquare, Twitter, Google+, Yelp, and Facebook, are free and popular among various age groups for information gathering and communication.
It’s a fantastic way of connecting with customers through interaction, responses to reviews, and polls. Don’t miss the opportunity to join customers as they talk about the restaurant and check out what they want to try next.
Have a Takeout Menu
Takeout menus are an excellent way to ensure the kitchen stays busy without adding more table space during the most active hours. Sometimes, short lunch breaks and hectic schedules don’t provide time for a sit-down meal. Offer takeout so customers can eat at a convenient time. Accessing the previously untapped market generates more revenue.
Train the Staff to Know the Product
Hold weekly meetings with the staff so they know how they should serve food. Allow them to sample specials and prepare them to answer customer questions about menu items. Use suggestive upselling for drinks, appetizers, and desserts. It enhances the dining experience, increases revenue, and provides more tips for the staff.
Offer Coupons and Specials
Everyone is interested in a good deal. Offer discount cards or coupons along with a daily special. You can offer discounted or free items in exchange for filling out a survey or writing a review. It’s an excellent way to gain new customers. If they have a great experience, they will return.Focus on Customer Satisfaction
The number one priority is customer satisfaction. Unsatisfied customers do not return and will probably share a negative review with family and friends. If necessary, do not charge for a meal; offer free drinks or a free item or a discount card for a future visit. It entices them to return and spend more money. Repeat business offsets an original discount.
Menu Change Ideas to Make More Money
As a chef or restaurant owner, you put a lot of time and effort into the food served in your restaurant. The menu needs to reflect the same level of detail and be a visual representation of the values, tone, and theme of a restaurant.
Placement of Items on the Menu
High-profit items should be on the menu where they are most likely to be seen. Studies show where customers look first and the path their eyes follow. The studies researched eye movement on one, two, and three-panel menus.
Do Not Make the Menu a Price List
A price list menu has item names with the prices on the far right by themselves. Put the price at the end of the description of an item. Use a small font and no dollar signs. Let guests read the description and choose an item before looking at the price.
Placement of Category Items
If the menu has categories like appetizers with ten or more items, the first two and the last sell the most. Place the most profitable items in those spots to make the most money.
Make Items Stand Out
Using a picture, star, highlight, or box is a restaurant menu idea that sells items. Be prepared to sell the most of menu items that include photos. Those items should be high-profit, high-priced items because they are the most likely to be chosen.
Reduce the Number of Selections on the Menu
Less inventory with fewer menu items is how to make a restaurant menu more profitable. Not as much food sits on the shelf. There is less waste and labor and more consistent food. Too much on a menu can have a negative impact on the money you make.
Recap
How much do restaurant owners make? Every restaurant is unique. Maintaining a healthy bottom line is indispensable in the success and survival of a restaurant. A balanced budget requires review and monitoring. You should use these tips the way that works best for you. They can lead to your restaurant becoming the most popular one in town.
