How to increase profit margins for restaurants without raising prices?
When attempting to increase revenue and maximize profit, many restaurateurs are choosing to increase prices. However, a price hike could have a negative impact on your reputation, customer satisfaction, and even your future. In many cases, raising your prices can alienate your loyal customers or budget-conscious clients.
In this article, we will identify a new creative way to help your restaurants increase profit margins without raising prices. Let’s exploring!
How We Can Help Your Business Increase Profit Margins?
We have collaborated with Travel Planet Network (TPN) (www.TravelPlanetNetwork.com) to get our partners to access one of the most INCREDIBLE promotions in the market right now.
Instead of advertising a 2-for-1 promotion (where restaurants lose money), or raising the prices (where restaurants may lose customers), you can let your guests know how they can save up to $500 Travel Savings at over a million worldwide hotels and resorts – for a small fee of $50 or less. This promotion is especially suitable for your customers, those who are interested in going out and travelling. Thus, your restaurants can expect a higher successful conversion rate compared to other industries.
The best part is that your restaurants can keep 50% of commissions on what your customers paid. For every $500 Travel Savings Plan ordered, you will earn $25. Imagine if your restaurants have 50 customers per day, and 20% of them are interested in purchasing the Access Codes for cheaper travel prices. As a result, you have 10 orders per day on average, and generate around $7,500 per month. These are just our estimated numbers. If your restaurants have more customers, you will be likely to generate more and more! This is a great option for your restaurants to increase revenue and maximize profits without any large investment.
How To Promote It To Your Customers?
Your restaurants can promote our high-value, low-cost promotion in three ways:
- Advertise the promotion to attract new customers to their website
- Place a small table-top stand on each table to display our “4 x 6” postcard
- Place the postcard in the guests check presenters.
Our one-sided postcard will let your guests know to ask their server for details. When requested, the server would hand them the two-sided consumer marketing postcard, which explains the program. You also have “ad-space” at the bottom of the postcard to offer consumers a free or discounted dessert, appetizer, or beverage on their next visit.
There is no selling. They simply let consumers know about these travel saving options by displaying the postcard. If a consumer is interested in learning more, they can click the ads or link which go directly to the website for more information.
To become our Business Partner and get access to our Travel Savings Program, you can learn more here.
Feel free to contact us if you have any question or need any help to get started. We’re always here to help!