How to Reinvent your Bar or Restaurant to Increase Profits

Businesses are always reinventing themselves for any number of reasons. For bar restaurant owners it may just be that the usual formula isn’t working, and you need to tweak around the edges to get it working properly. With a little effort, any kind of negative can be turned into a positive, and from that point on, you’ll be well on your way to success. Here’s a look at some of the things you can do to reinvent your bar or restaurant and increase your earning potential.

Reach Young Customers

For bar s in particular, young people offer a huge amount of spending power. If you’re a bar owner, make sure you offer enough incentives to draw young people to your business. Think about adding special nights to attract younger crowds, like a trivia night, where your customers can share their fascination with pop culture and meet new people in the process. Host a speed dating event for young singles in the area. Younger crowds also attend “Meet Ups,” so consider hosting one of those as well. Once you get them to your establishment, they’re likely to return if they like what they see.

Young people tend to be attracted to trends and themes, so depending on what stage your establishment’s currently at, you may want to consider giving your bar or restaurant a slight facelift. This doesn’t mean you should change everything—again make the most of what you have. You want your customers to feel comfortable and that they belong. Sometimes trying new things can be risky, but you may be surprised at how receptive some are to any new changes you implement. Even your regulars might like a change now and again.

Get to Know Your Customers

If you already have a devoted clientele, do everything in your power to keep them. You may want to create a database of your consistent customers as a way to get feedback. If they already love your place, ask them about what types of events they’re interested in and try to incorporate these as well at your bar.

Make yourself approachable to your customers by developing a bond with them. Taking the time to get to know them and understanding the demographics of your customers will increase your business tenfold. You want to know every single detail about them, including where they come from, where they live, where they work, information about their household income, how big their family is, do they rent or own their house, are they into sports, do they have any hobbies and what in particular draws them to your restaurant.

Sounds a little bit like working for the FBI, but you can use this research to tailor offers to these customers that will have them repeatedly coming back to your bar and restaurant.

Keep a Positive Outlook

You should see your customers not just as an important contribution to your establishment, but as though they were part of your family. Everyone likes to go out to eat, and as a bar and restaurant owner you have the ability to create an environment for people to sit back, relax and have a good time. Even in times of economic strife, it’s best to keep a positive outlook and do your best to satisfy your customers, even if it means having to reinvent your place of business to draw more people in.  To find out more watch this video presentation.

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