Investing in Lakeland restaurants is no joke. You need to sacrifice not only your valuable time, but a lot of your money, too. You have put everything into this business and you, of course, want it to succeed. However, that’s easier said than done. Most of the time, restaurants don’t thrive well and can only survive because of multiple loans from financial institutions.
You don’t want to go this route, so you must find ways in order to increase the cash coming into your business. To do that, you need a good marketing strategy to attract customers to your restaurants, as well as some gimmicks to boost your overall profit. One gimmick is to offer catering services for events around Lakeland. Sure, it takes a lot of work, but catering services have a large profit margin and it usually helps increase the income flow of a restaurant.
Large profit margin
Charging per plate will give you a considerable profit margin than simply charging per dish served during dinner hour. Most events would make the caterers prepare for more guests than would arrive. Every catering service provider knows that not all guests would eat the same amount of food and there will be more likely guests who won’t prefer meat or vegetables or the desserts. This allows the caterers to prepare “just enough” for the number of people that will arrive for the event. Food is cheaper when bought by bulk, so you can imagine how much profit a caterer gets during these gigs.
Brand exposure
Catering services expose your brands to many other people, some of whom won’t even be considering dining in your restaurant regularly. But because you impressed them with your food and your service, they will be more than likely trooping to your dining place in no time. Exposing your brand to the people who could possibly be your market is a smart and smooth move.
Additional cash flow
If you own a restaurant, you know by now how important it is to find additional cash flow such as inviting customers for quiz nights, for ladies’ night, for karaoke nights, and many such gimmicks. A restaurant has a specific number of guests they expect every night, but if they can surprise themselves by using marketing strategies to attract more clients, then this is an additional cash flow that they don’t really expect. A catering service is a good choice to add to your cash flow.