Sign up now!
   
FINANCE

Ask Bartercard Explain How to Maximise Customers & Cashflow

Tuesday 26 March 2019, 1:54PM
By Beckie Wright
223 views


Owning and running a restaurant in today’s market is a constant ‘Movable Feast’; a shifting industry where new venues are opening weekly, and staying at the top isn’t always easy. Bartercard has the tips and tricks to stay ahead of the curve and think outside the box to attract new customers, thereby maximising your cashflow.

 

You can attract new customers with Bartercard as food delivery services are buzzing, and while they’re putting restaurants in the mix, not all restaurateurs are opting for the paper bag approach that can come at a cost. If your restaurant is at the higher end, consider the impact on waiting diners, the presentation of the food when it reaches the customer, and whether that’s on brand with your restaurant. Ensure you have the resources and space to prepare extra orders too.

Bartercard attracts new customers without discounting or third party booking sites for more control in business. Few restaurants and bars are at 100% capacity around the clock, and Bartercard can fill that downtime. These customers are actively looking to spend their Bartercard Trade Dollars and are more likely to return in the future. 

Another good idea is to offset cash expenses with Bartercard, instead of spending cash on every business expense. Bartercard doesn’t just attract new customers, it also saves valuable cash. Many restaurant owners use Bartercard Trade Dollars to purchase wine, which they on-sell for cash in their restaurant. This effectively turns downtime into cash sales. They also use Trade Dollars to offset cash expenses such as kitchen equipment, furnishings and renovations by using their Trade Dollars instead of cash. To earn Trade Dollars, they welcome customers on Bartercard when they have spare capacity to keep their restaurant full off peak.

Last, but not least, you need to build your business network. Building a network of local restaurateurs and businesses owners lets you continually learn, stay in the loop and canvass solutions to industry hurdles. Bartercard is a business network with thousands of hospitality members worldwide and year round events at a local level to continually stay front and centre of the industry, so for more information on where can I use Bartercard, Bartercard members and where can I spend my Bartercard dollars please go to http://www.askbartercard.co.nz .