Create Fun and Exciting Events

Hi there, Howard Tinker here from restaurant profits, one of the things that I wanted to talk to you about this week is making sure that you are going to put on exciting and fun events in your restaurant. So not just opening and having your menu and going back to same old, same old, people are now looking to celebrate and have experiences. This is going to be the future of how people are spending, believe it or not, people actually have more money now than they normally have, they would have spent that money on overseas holidays, they would have invested it in things like new cars and things like that. They've not been doing that, they've been scared to spend because they don't know what the future holds. Right now they're looking to go out and celebrate freedom. It's almost like a honeymoon period when they're going out, and spending money that normally they wouldn't. So what you need to do is make sure that they come to you, and one of the ways of doing that is to put on exciting and fun events.

One of my clients two years ago put on a thing called an endless feast. It was all cost out properly. So the food cost was very small, but the per head spend was much much much bigger, in fact, 600% higher than the food cost. So they were doing really well with it. So we decided to run this just a few weeks ago in this COVID period - they are situated in a different part of Australia, where the restrictions are not too tight. And so they could have big tables and guess what, big families came in to celebrate their freedom from COVID lockdown and to have fun and to come to this event. And what you're going to see is more of this happening, so rather than people just going out to have a quiet meal with a partner, or with their small family, they're going to want to go out and celebrate with their friends and their family and their colleagues too. So make sure that you give them the reason to come to you. Think about what you can do to make it an exciting event to come to your restaurant.