By Caroline Cox
Whether you’re a big-name restaurant group, a single-location farm-to-table eatery or something in between, creating an events program can have huge benefits for your business. From maximizing your space and increasing sales to standing out from competitors and more, private events are a great way to take your space to the next level.
Plus, with event management software, you can easily create a streamlined process for event hosting that won’t take up hours of your work week. Below, we break down a few of the reasons why creating an events program will boost your biz and your bottom line.
Make the Most of Your Space
It’s relatively easy to transfer something like a banquet room, a rooftop or a downstairs bar into an events space, but it doesn’t stop there. Even semi-private dining spaces can be transformed into perfectly useable event space. By adding a few touches like lighting, a privacy curtain or a few pedestal tables, you can turn an unused area of your restaurant into a prime spot for cocktail soirees, networking events, and more.
Increase Your Sales
Big events often mean big money — which is a great revenue booster for your restaurant. When you launch an events program, you can instantly receive booking inquiries, send out immediate proposals and contracts, and book multiple weeks to months in advance. Depending on your restaurant’s size, you can host events from every few weeks to multiple times a day, which’ll do great things for your bottom line and meeting sales goals.
Grow Your Customer Base
Organic growth pretty much comes with the territory once your events program begins gaining traction. Regulars may book an event, then help spread the word once it’s been executed with success. Plus, you can begin building relationships with groups and organizations around your city that throw regular events. This gets new customers through your door in a way that doesn’t require offering a discount or drink special.
Maximize Non-Peak Times
There are times where your restaurant won’t be as busy as others. You can make up for this dip in patrons (without sacrificing profit) by offering an events program that extends beyond normal operating business hours, days or holidays. If you’re generally closed during the day, considering offering these times for events, such as special brunches or team-building lunch events. If you’re not open late-night, consider having it be an option for an after-party soiree.
Stand Out from the Competition
We know that restaurant competition is fierce — and buzzy new outposts are cropping up every day. As a whole, the private events industry is continuing to grow. Jumping on the bandwagon by creating a program of your own means your restaurant maintains relevancy. It also means you can stand out by offering something other restaurants cannot. Staying ahead of the curve will help you rise above your competition and keep your restaurant in business — and profiting.