The COVID-19 lockdown emphasised the importance of having multiple revenue streams for most businesses, no more so than the hospitality industry. And that need hasn’t gone away now the hospitality industry has opened up again. Due to social distancing restaurants are running at reduced capacity. Add to this the concerns over COVID-19 risk causing diners to stay at home more and restaurants are significantly down on covers and therefore profit. To combat this, the hospitality industry has an ever growing need for multiple revenue streams, but, with finances limited how can they achieve this?
A Takeaway Service As A Second Revenue Streams
One of the most cost-effective, easy to implement ways of creating a second revenue stream is to offer a takeaway service. By offering a takeaway service, restaurants, cafes and even shops such as butchers produce another avenue where they can receive income, thereby protecting their business from unexpected closures relating to local or national lockdowns and increasing their revenue during quieter dine in periods. Read on to see how you can really make a takeaway service a profitable revenue stream.
Use An Online Food Ordering System
Whether it’s a busy night serving or you’re short on staff, restaurants simply don’t have the time or resources to be manning the phones for takeaway orders all night. Likewise, diners don’t want the pressure nor the inconvenience of calling their local restaurant or cafe to place an order. This is where an online ordering system comes in…
An online takeaway ordering system takes the stress out of takeaway ordering and provides an easy to implement and simple to use second income stream that uses your existing food production processes and does not increase your admin.
Plus, by giving customers the freedom to browse your menu freely online they’re likely to spend 20% more on takeaway orders and are more likely to order with you again, further increasing the profitability of this second mode of income. And the benefits of an online food ordering system don’t stop there.
Monetising Your Website and Social Media
By adopting an online food ordering system you can easily monetise your website and social media.
With Sugarvine At Home you can embed your ordering interface on your website, social media channels, Google My Business listing and Sugarvine.com profile. That way, customers can access your menu and place an order with you whenever and wherever they want. Meanwhile, you can grow your revenues and capitalise on this second revenue stream using your existing marketing channels to advertise to both existing and new customers.
Build Your Email Marketing Database
By taking food orders online through Sugarvine At Home you can can capture customer details in a GDPR compliant way. Once an order is placed you receive all customer details for you to use for your own marketing purposes.
This way you can keep in touch with all customers regarding your dine in and takeaway offers and encourage repeat custom, thereby increasing your revenues. In fact, sending a monthly newsletter can bring a 15% return!
Say No To High Transaction Charges
They say you have to speculate to accumulate. But, with the hospitality industry already struggling, restaurants hardly have spare cash to throw at new initiatives. But, with Sugarvine At Home a second income stream doesn’t have to cost the earth.
Unlike our competitors we don’t charge 20-30% transaction charges. Instead, we charge a one off fee of £300 plus vat with a 4.5% charge per transaction. That way you can plan and account for our cost without worrying about hidden charges and hefty commission.
We will provide you with a widget to take orders from your website, social media and email newsletter etc. Here is an example of a mock venue we have created: