Over the past few years, bars and restaurants seem to have been shutting down with frightening regularity. Many towns and even cities have seen their eateries and watering holes diminish significantly, and even those that have survived the metaphorical culling may still be struggling to make ends meet.
There are many factors behind this reduction in trade, from the low cost of supermarket food and drink through to worries of reduced expendable income (that, for many, never even came to fruition). And in light of such hard times, many businesses have looked at ways to cut expenditure at all turns.
Yet, cutting back on expenditure is actually in some ways going to do more harm than good. Whilst trimming unnecessary costs and reducing certain overheads will help, trimming back on important outgoings such as quality food or even simply choosing not to replace light bulbs will only lead to customers being dissatisfied and later going elsewhere. Therefore, those that look to cut costs in areas such as HR (through outsourcing) and energy bills (through changing providers) will fare far better than those who look to cut corners in areas that will be noticed by customers.
With fewer people venturing out, another important thing that businesses have needed to do is to increase walk up trade. By making sure the right menu boards are out on the street, restaurants and bars are far more likely to attract passersby, as few people will venture into a restaurant these days without some idea of what is on offer and how much for. Therefore, the best way to get the right walk up trade is, again, not to cut corners, and to make sure that the exterior of your venue looks as appealing as possible and that you spend out on the right menu display cases to let people know exactly what you can offer them.