If you run a pub or hotel and you’re struggling to increase revenue streams, you may think that all hope is lost. The good news, though, is that there are lots of ways that you can increase your revenue and welcome more guests to your establishment, and so below, we have rounded up five of the very best ideas. Read on and you’ll soon have a full pub…
Improve your kitchen staff
One of the first things that you should think about is overhauling your food menu. In the UK alone, we spend on average more than £50 per week on eating out, so creating a pub or hotel with a great restaurant can unlock new revenue streams and help you to make more money. If you’re not making much from your current food offering, then you should look to your kitchen staff, experiment with new menu ideas, and go back to basics. A few good dishes is better than offering 20 choices, but not being able to deliver on quality or freshness.
If you don’t already have kitchen staff, or you’re looking to add to your roster, then remember that chef recruitment is often the most effective method. That way, you can separate the wheat from the chaff, and ensure every member of staff you hire is going to add value.
Update your bedrooms
If you run a hotel, then you could consider giving your bedrooms a refresh. If times are tough then you won’t have thousands of pounds to spend, but it’s possible to give your rooms a fresh coat of paint and add some new finishing touches, like bedding, tables, and accessories to brighten up your rooms and bring them into the 21st century. Shop at stores like IKEA and The Range, which offer quality furniture, bedding, and accessories at an affordable price.
Invest in digital marketing
When it comes to finding ways to make more money, digital marketing is critical. Whether you are based in a popular tourist destination like Blackpool or you’re out on the sticks, it pays to have a strong presence on search engines and on social media, otherwise, people won’t be able to find you and they’ll look to your competitors instead. Sign up for a Twitter, Facebook and Instagram account, use Google My Business, and design a website. It may be out of your comfort zone, but marketing is critical if you want to grow your business.
Host an event
Another way for you to bring more paying guests into your pub or hotel is to host your own event, whether it be a Christmas Celebration, a themed disco night, or a quiz night. There are lots of ways that you can get people involved in your business and encourage them to spend more money with you – you’ve just got to be prepared to put in some work and do something different. Make some posters, charge an entrance fee, offer a free buffet, and you’ll soon have a full house. Add these events into a rotation to keep everyone happy.
Use coupon websites
Sites like Groupon allow you to offer discounted food, drink and accommodation to bargain hunters and add some more money to your coffers. Whilst these websites aren’t great for your long-term growth, they can be used to spread the word about your business – after all, if someone comes for a cheap meal using a voucher and realizes how good it is, they’ll tell their friends and come back time and time again. Run a limited-time offer, like bed and breakfast for £50 per person, and you’ll be able to unlock brand new revenue streams.
There you have it – five ways to increase your revenue as a publican or hotelier. Whatever you decide to do, we wish you the very best of luck with your venture.