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3 Ways You Can Diversify Your Restaurant's Revenue

When restaurants try to increase their bottom line, the first thing they usually think about is getting more clients through the door. And they often try to do it through advertising. But, in some cases, just being creative and finding ways to maximize your current client base could be much more efficient, and less costly. You won't have to deal with the hit or miss nature of advertising campaigns either. Let's take a look at a few ways that you can diversify your restaurant's revenue.

Offer Catering Services

If you aren't offering catering services, you're leaving tons of money on the table. With all the business meetings, conferences, weddings, and special events happening on a daily basis, there's always a need for caterers.

You don't have to cater for huge banquets or weddings either. This could be something as simple as offering sandwich platters for office parties, or special prices for large orders. Just adding this feature could allow you to bring in a lot of additional revenue while making little changes to your business and hardly spending a dime on advertising.

Sell Branded Products

This is another great thing that you can do to spread your brand. Find what your business is known for, or what your clients love the most about your restaurant, and package it. For instance, some restaurants might be known for some special sauce that they have. Or you could sell a variety of special blends if you own a coffee shop, for instance.

This is something that would be super easy to do as well. You could use a service like The PKG Lab, for instance, and have custom branded pouches delivered in as little as 24 hours. You can then place them strategically somewhere in your business to catch people's attention. If people like your coffee, I can guarantee you that some will want to be able to make it at home.

Another approach could be to set up a deli section where people can buy pre packaged goods related to your business. Or you could even find a manufacturer and sell some of your flagship products frozen. Not only will this allow you to spread your brand, but the revenue could even end up trumping your main operation.

Get a Food Truck

This could be another great option if you want to get your brand known. The good thing about this is that it can be seasonal, and people will actually get to test your food. You might decide to roll it out at special events and hand out samples to people. This will have a much greater impact than your average marketing campaign and could generate a lot of word of mouth advertising, which is the best kind you can ever ask for.

Conclusion

These are only a few of the ways that you can diversify your revenue as a restaurant. Don't be afraid to step outside the box and look for ways to capitalize on what you already have to offer by expanding your range of service.





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