F&B / Finance

Why Festive Seasons Drive More Profits for Your Restaurant

Why Festive Seasons Drive More Profits for Your Restaurant
Share

In countries like Malaysia and Singapore, having a multicultural nature means that tons of cultural festivals are celebrated each year. Occasions like Chinese New Year, Hari Raya, Deepavali, and Christmas and this list goes on indefinitely are celebrated my millions annually. Local restaurants like my own have latched on to these special occasions to promote our seasonal products. Customer sales naturally surge during this season but how so? And how do you know that your efforts will guarantee a spike in profits? In this article I will share with you a couple of insights I have learnt running a business during the festive season.

1. The Early Bird Catches The Worm

Customers are more likely to pre-order as they want to be prepared for the festival and do not want to wait till the last minute while stocks are running low. 
So make sure that you launch your seasonal products months ahead of the festival. This creates a sense of anticipation for the release of your products and encourages pre-ordering. Tease your customers with “limited stocks” and indicate the ordering period as well.

With pre-ordering, you will not have to worry about your customer’s money going in the direction of your competitors, granting you assured profits.

2. The Marketing Pays Off

You have launched your product early and you are left with a few months to decide on your marketing. So you roll out ads on Facebook and Google to make sure that your launch reaches your target audience. You further these efforts by adorning your shops with vibrant posters and distributing fliers. You get your staff excited and spreading the news about your new seasonal product.

This all requires money, time and effort. But because of the increased demand for your seasonal products, sales are sure to roll in and cover the losses that you have previously made with marketing.

3. It Is Not A One-off Effort

The recipes that your kitchen has painstakingly made their own are not only going to be used for just this one festival – because there is going to be one every following year! It is easy to repeat the same recipe and menu every year with a few tweaks here and there. 
Just like with marketing, the ingredients you have purchased and the time spent tweaking recipes is not going to be for nothing – the sales that come in are sure to leave you with profits by the end of the festive season. So what are you waiting for? Jump onto the festival bandwagon.
Intended Takeaway:
If you are an established business, don’t be afraid to latch onto this opportunity that will assure you a steady flow of profits annually. Pick your festivals based on what you and your staff celebrates. Christmas is a common celebration that anyone can venture into! 

Find this useful? share it with your employees or peers in the industry


Share

Discuss this on Facebook

Leave a Reply