BUSINESS: How to Keep Business Booming on Off-Nights
Every sports bar experiences lulls, slow seasons, and dead nights. When your business model depends on basketball fans packing your bar, naturally your sales will be leaner on basketball-free nights. How do you occupy the building during the slows nights and off-seasons? The answer: TV shows. Here’s how to build a base to make the slow nights jumping.
DID YOU KNOWS…
Global Alcohol Consumption
Low and middle-income countries are the driving force behind the trend with Vietnam, India and China all recording significant increases in alcohol consumption. That has resulted in alcohol consumption increasing by 34% in Southeast Asia in the seven-year period from 2010 to 2017. The trend is forecast to continue up to 2030 when Europe is no longer expected to have the highest levels of alcohol consumption. Meanwhile, the US has seen just a 5.4% increase over the same time period.
Sober & Social
While alcohol sales are typically a huge profit booster for restaurants, it doesn’t mean you need booze to have an amazing beverage program. This gallery shows off five booze-less bar concepts as the mocktail trend continues to grow.
Long-Term View of US-China Trade
Donald Trump has repeatedly voiced his discontent with the trade imbalance between the world’s two largest economies, stating that the U.S. is being ripped off and losing hundreds of billions of dollars on Chinese trade every year. And while the U.S. trade deficit with China did in fact reach a record high of $419 billion in 2018, that money is neither lost nor is the large trade deficit necessarily a bad thing for the United States. In fact, the latest increase in the deficit is a sign of strength, as a strong U.S. economy and a strong dollar boost demand for Chinese goods in the U.S.
IT’S A NEW GENERATION [Song]
Why it matters to you: Your younger team members have something to tell you about retention, are you willing to listen?
We hear and read so many critical comments about how Millennials and GenZers’ character impact on our culture, but rarely are any those observations positive. So, when I read this blog on Forbes that claims those two “annoying” generations actually make us better, I had to read the whole thing -- and I’m glad I did. In fact, the post doesn’t just say that the typical younger generations aren’t as scary as has been reported, it clearly asserts that they make us all better. How, you say?
Well, let’s start with their expectations. They are unwilling to compromise their values to work for a place that doesn’t reflect them. This is obviated in their total fluid approach to employment. If your organization doesn’t have a clear and positive direction, and effect, they will happily find their next position. This isn’t about a ping pong table in the break room; instead it creates an internal accountability that we can benefit from in our business.
They expect development and that their employer will contribute to their career trajectory. If you want to retain these folks, it’s high time you bent to their will, because it’s clear they aren’t bending to yours. Oh, and it’s not like they are all children anymore. The eldest Millennials are in their mid-30s and the oldest of the Gen Zer’s are in their early 20s. This is your staffing pool for your restaurants. That’s why it’s so important to not only understand them, but also respond to their needs. That’s provided you like being staffed and all….
DID YOU SEE THE BATHROOMS?
Why it matters to you: Having a gorgeous bathroom is actually good for business.
As restaurant guest yourself, how many times have you been impressed by the bathrooms where you were dining? It’s almost always in high end places with restaurant with decors to match -- and that’s exactly the wrong way to approach your restrooms. Given that 91% of guests state that bathroom condition is a reason NOT to return to your restaurant, putting some energy into yours sounds more like an imperative than just sound advice. That’s why we thought we would provide you inspiration from some of the most amazing bathrooms in restaurants you will ever see. Yes, they are likely more than you can afford or really even need, but good design doesn’t translate into expensive, so take a look and steal an idea or two.
Bathroom renovations are cheaper than other aspects of your restaurant for a couple of simple reasons. First, as long as you aren’t moving the plumbing it’s just flooring, wall tile, and fixtures. Plus, your guests will totally see it and love it. In fact, why not ask some of them about the best bathrooms they have ever visited. They will give some great ideas for little conveniences to include or pet peeves they have about restaurant bathrooms in general. For under $5000, you could almost certainly makeover your restrooms and give your place the feel of a restaurant that wants to stay relevant.
[Source: Love FOOD]