Give All First-time Restaurant Customers A Coupon With An Easy Offer Redeemable On Their Next Visit (Perhaps A Free Of Charge Aperitif, Dessert Or After Dinner Drink). The Offer Should Haven't Any Conditions And Must Certanly Be Redeemable Within The Next 6 Months. Tell The Customer To Bring In The Restaurant Coupon And Ensure That You Require Information That You Could Add To Your Database. Measure The Results, Modify The Offer If Needed, And If It Brings You More Business, Make This Part Of Your Marketing System.

Quick Win 2: Cut Restaurant Costs

Even When You Are Busy, It Literally Pays To Take The Time To Review Your Restaurant Costs Every 6 Months. A Good Way To Boost Your Important Thing Would Be To Cut Costs. When Did You Last Renegotiate Your Credit Card Charges? Have You Been Getting The Very Best Deal From Your Wine Merchant? Review Your Menu And Check Your Profit Margins - Which Are The Dishes That Provide You With The Best Margins? Create A Special Menu With These Dishes To Offer More. Eliminate Your 3 Worst-selling Dishes And People That Have The Worst Margins. You Will Be Surprised At How This Regular Housekeeping Can Impact Your Bottom Line.

Quick Win 3: Increasing Restaurant Prices

"If Your Costs Are 10% Too Low You Have To Do 3x The Job To Really Make The Same Profit. If Your Prices Are 10% Excessive You Are Able To Lose 43% Of Your Company And Still Maintain Exactly The Same Profit." - Larry Steinmatz

Among The Quickest Ways To Boost Your Restaurant Profits Is To Raise Prices. Just A Couple Dollars On Several Well-selling Items Will Give You Exponential Growth Immediately. Which Could Sound Just Like A Frightening sashimi, But Take A Closer Look At The Psychology Of Pricing And Buying Behavior And You'll Understand Why 80% Of Restaurant Businesses Undercharge For His Or Her Services And Products.

Except In Some Particular Cases, A Lot Of People Don't Make Purchasing Decisions On Price Alone. Don't Believe Me? Just Have A Look Around At The Sunglasses Folks Have On Around You. I Bet You See Lots Of Ray Bans And Dolce Gabbana Sunglasses. This Just Shows There Are Other Criteria For Purchasing Behavior Than Price.

So Whatever You Do, Don't Ever Reduce Prices, And Certainly Don't Begin A Price War. You Don't Want That To Be Your Competitive Advantage Because Anyone And Anyone Can Undercut You. On The Contrary, Seriously Consider Raising Your Prices. Don't Let Fear Of Competition Or Lack Of Confidence Stop You. If You Have True Differentiation, You Have Targeted Your Audience Correctly And They See A Perceived Value In Your Product That They Are Willing To Fund, Then You Can Certainly Charge Premium Prices. Actually, They Will Expect A Premium Service And Will Feel Privileged, And You Might Find Yourself Selling Even More.

Typically You Will See That Dropping Prices To Offer More Actually Loses You Money, While Raising Prices, Even Although You Sell Less, Raises Your Margin.

Even When It Looks Like A Difficult Action To Take, Test Different Higher Price Points For Various Offerings. Tomorrow Raise Your Prices By 10%. You Can Observe Not Only How The Purchase Price Rise Affects Your Company (You Will Either Lose Business, Gain Business Or Stay The Same), But You Can Then Look At Your Profit Margins And Adjust Accordingly.

Lots Of The Restaurant Owners That We Use Have Experienced The Next Pleasing Phenomena: They Raised Prices And Found That Not Just Did They Have More Customers (The Restaurant Is Perceived As Higher Quality), But They Had A More Reliable And Less Difficult Clientele That Also Spent More Cash And Had Higher Overall Tickets.