5 Innovative Ways Hospitality Venues Can Boost Profits During a Pandemic

Are you looking to boost profits during lockdown? Hospitality venues in Australia are continuously adapting to the pandemic and ever-changing government restrictions with increasingly ingenious methods by diversifying their menu and takeaway offerings and embracing new digital endeavours. However, the question still remains as to how venues in Australia can possibly boost profits in such a trying time, rather than just covering their losses.

It may not be an easy road, however, there are opportunities out there for venues to boost profitability, even during lockdown. Keep reading to find out how.

Step 1: Enhance Your Venue’s Cleanliness

In times of uncertainty, customers want to be reassured. Not only should venues be physically safe and secure, but communicating this with customers should be a priority. Your loyal customers will trust that you’re doing the right thing, however, when you’re trying to attract new customers, the more reassurance you can provide, the better!

If you need help ensuring your venue is in top shape, here are some of our highest-rated cleaning suppliers:

Victoria

• United Food Service
• Hudson Pacific Foodservice
• Complete Food Service

New South Wales

• Clean Hands
• Foodlink Australia
• ZeoTec Cleaning Products

Once you have cleanliness under wraps, reassure your customers by telling them how you’re making safety a priority. For instance, maybe you want to establish clear outlines about your new curbside pickup procedures? In that case, add a post on social media, send an email newsletter, and update your store signage telling your customers exactly how to pick up their order safely. 

Can’t find a supplier in your area on the list? Sign up to Foodbomb for free and choose a supplier from our extensive list of suppliers.

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Step 2: Minimise Outgoings

While our government is providing some support for hospitality businesses, it’s still not enough to cover the losses some businesses are experiencing. How, then, can venues minimise their outgoings? 

• Tweak your menu to offer more affordable menu items during the pandemic. Many Aussies have tightened their purse strings, so not everyone is looking to have a seven-course degustation. 
• Review your wholesale suppliers. Foodbomb clients saved up to 15% on their overheads this way.
• Watch the market, take note of food seasonality, and adapt accordingly! Focus on classic, tried-and-tested menu items that have a high profit margin.
• If you already have an existing audience on social media, or you’re prepared to build one, focus on your social channels, as opposed to paid advertising. Now probably isn’t the time to try a whole new marketing channel; focus on what has achieved results in the past.
• Reposition staff if necessary. If you’ve got an events team, move them into social media or customer service. Minimise resistance by communicating how much it means for them to be flexible during these tough times.

Step 3: Improve Digital Experiences for Customers

In times like these, digital platforms can act as a life raft for hospitality venues. If you haven’t updated your website since 1993… what are you waiting for?! 

Implement an online ordering system like Mr Yum or EatClub, especially if you already have a loyal customer base. That way, you can avoid relying too heavily on food delivery services and maximise your profits.

If you’re located in Victoria, take advantage of the government’s Small Business Digital Adoption Program, which offers free product trials and a rebate on selected digital programs. Yes, you may need to invest some time and money into creating a plan for your venue's digital future, but this is an important step in getting through the pandemic – and beyond!

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Step 4: Adapt Takeaway Offerings

Think of ways you can enhance your menu offering to suit changing consumer habits. Try initiatives such as:

• Take away meal kits – encourage customers to cook your simplest dishes at home. All you need to provide is the ingredients and a recipe. Too easy.
• Take away drinks or cocktail kits – try to recreate the full dine-in experience by encouraging “date nights” or “ladies’ nights” with delicious dishes and easy-to-make cocktails.
• Banquets and food packages – customers are searching for value and convenience! Ready-made dinners for two or packaged family feasts just make life a whole lot easier.
• Tasting menus – create a ready-made tasting banquet with different bites of all your classic dishes to encourage new customers to try your best fan favourites.

Step 5: Focus on Customer Loyalty and Goodwill

Loyalty is everything, particularly in small, local communities. More than 70% of Australians are looking for ways to support local businesses at the moment. Make sure your business is the one they choose by rewarding them with incentives and freebies. 

This could be as simple as printing a loyalty card and using a stamp system on pick up. Or, you could even enhance your existing loyalty program to make it more enticing.

It's also crucial for local business communities to support one another during difficult times. There are a number of ways to do this, such as:

• Collaborating with other local businesses in your area with joint competitions on social media or take-home packs full of a combination of your products.
• Supporting local farmers and producers by shopping on Foodbomb.
• Launching a goodwill initiative and give back to local farmers or remote communities who may be struggling during this time. 

We can all get through this if we support each other – that includes supporting other small businesses, communicating with staff, reassuring customers, and, above all, striving to help people live their lives safely.

We’re Here to Help

At Foodbomb, we’re passionate about making life easy for business owners and venues, especially in such a chaotic time! If you need support or assistance with your wholesale ordering during this difficult period, please reach out to your Foodbomb Growth Manager or our Support team.

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