With the holidays just around the corner, many seasoned restaurants tend to discount their services or products as a way of doing business, but for small and start up restaurants straight discounting is usually a ticket to financial disaster. Playing the discount game, usually means going into your own company every day to price yourself right out of business. To help you avoid the discounts trap, we have listed this three tips:
1. Know your margins at all times and look into lowering them where you can like negotiating better deals with your suppliers.
2. Add value instead of discounts. This can be as simple as providing incredible customer service to your guests.
3. Leverage your current resources and look for ways to increase your profit like expanding your delivery or catering services.
Remember, don't fall into the trap of thinking that without discounts you won't have sales. Keep this tips in mind, and let other restaurants run themselves out of business.
1. Know your margins at all times and look into lowering them where you can like negotiating better deals with your suppliers.
2. Add value instead of discounts. This can be as simple as providing incredible customer service to your guests.
3. Leverage your current resources and look for ways to increase your profit like expanding your delivery or catering services.
Remember, don't fall into the trap of thinking that without discounts you won't have sales. Keep this tips in mind, and let other restaurants run themselves out of business.
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