Questex’s Bar & Restaurant Group is dedicating six months to Evolve. It’s our free virtual series where we meet with service industry operators around the country to identify (and solve) the greatest challenges of Covid-19.
Each Evolve session features live and pre-recorded talks, demonstrations, masterclasses and exclusive access to our event sponsors and suppliers, like Titos, White Claw, Barventory and Hoshizaki. So far, we’ve covered topics like Crisis Management and Technology. Our latest Evolve session, launching January 13 at 1pm EST, focuses on all-things Marketing.
It’s our way of supporting the industry throughout the pandemic, and if you haven’t registered, you’re missing out. Sign up for free to gain access to our online resources and videos, and keep reading to find out our top five takeaways for the bar, restaurant and hospitality industry (so far).
Optimize Yield from Beverages
This is Bar 101, but it’s worth mentioning. To get the most amount of profit possible, clear out your liquor cage by selling all the extra inventory. Then work with your distributors to secure their closeout prices and plan a new menu to ensure your drinks are bringing in maximum revenue.
Skip the Delivery Apps
Third party delivery apps don’t have your best interest in mind. Their focus is making money, which is why they charge up to 30% of each order in fees— that’s thousands of dollars of lost revenue a month. Instead, focus on developing your own delivery service or delivery alternatives to keep your money (and your customers) in the restaurant.
Check in with Your Team
We’re living through dark times, and the constant stress and uncertainty is exhausting. Keep an eye on your team, and make sure they feel supported and valued. After all, your staff is the backbone of your business, and they need strong leadership now more than ever.
Think About the Future
Our experts can agree on at least one good thing from 2020: the industry got a lot smarter. Operators have learned how to pivot, how to market and how to stay open with less than 50% of their traditional revenue. 2020 proved that no one is more resilient than bar and restaurant operators, and all of these new skills and experiences will only make this industry stronger in the long run.
Technology is a Double-Edged Sword
Sure, when it works well there’s nothing better. But even the slightest glitch can bring operations to a halt. Reach out to other operators using your system to see how they’ve dealt with common issues. It builds a sense of community and makes troubleshooting that much easier. In fact, from our Evolve talks we’ve learned that for every ten hours of onboarding, there should be another two hours of talking to operators who already use the technology.
If you want to hear more insights from industry experts, sign-up for Evolve here. Our next session takes place in Austin, Texas and launches January 13 at 1pm EST. Follow us on Facebook and Instagram to stay up-to-date on new events and offers, and let us know what topics you want us to cover next.