The coronavirus outbreak has forced restaurants to change how they operate. Many restaurants have had to shut down their table service to prevent the virus’s spread. This has led to many restaurants focusing on delivery and takeout as their primary source of income. Some restaurants have also started exploring alternative revenue sources to help them stay afloat during this difficult time.
Some restaurants are finding success by offering additional revenue streams, originally intended to be temporary. However, because of how well these additional revenue streams are doing, they have become permanent offerings at many restaurants. These include meal kits, online ordering, and takeout through third-party apps or restaurant business software!
Revenue Stream 1: Meal Kits
Selling meal kits is a great way for restaurants to make more money. These can come in many forms, such as a bundle of recipe cards with raw ingredients, semi-cooked ingredients, or even cooked meals that customers can assemble themselves. This gives customers the convenience of cooking a meal from start to finish or simply having to do some cooking and assembling.
Meal kits have been a popular way for people to cook at home, with all the ingredients and instructions included. This convenience is something that many people are willing to pay for, especially as we continue to see restaurant closures and limited dining options.
By offering meal kits, restaurateurs can not only bring in additional revenue but also keep their name top-of-mind for when diners are ready to return to eating out. Plus, it’s a great way to use any ingredients that might otherwise go to waste.
When a restaurant begins to set up a meal kit service, it is a good idea to start with a top-selling dish. This will help them to gauge interest and determine what other meals they should offer. If a restaurant doesn’t have the resources to offer meal kits daily, they can consider offering them on days when takeout and delivery sales are low.
If you’re a restaurateur, consider offering meal kits to future-proof your business. The best way to announce your new meal kit offerings is to contact the existing customer base through email and social media. You can also reach out to local reporters, bloggers, or community news outlets to get the word out. Another great way is to record a YouTube video or go live on Instagram to show people how to prepare a meal.
Revenue Stream 2: Online Ordering and Takeout
Note that there are pros and cons to each type of online ordering system, so it’s important to weigh your options before deciding which is right for your restaurant.
- Third-party apps and websites can be a great way to start online ordering, but they can also be expensive and may need to integrate better with your existing POS system.
- A native platform, on the other hand, such as a restaurant business software integrated with a website, streamlines ordering and POS systems despite being more expensive upfront. Thus, you can manage orders virtually and see transactions occurring in real time.
Conclusion
As with any business venture, do a mock-up of expenses to check if you will gain more income from either approach. With COVID restrictions almost non-existent at this point, perhaps your daily foot traffic could compensate for the delivery droughts you’ve been experiencing.
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However, if scaling is one of your objectives, reach out to KitchenFuel immediately. We’ll equip you with an all-in-one restaurant business software in Canada that manages meal preparation, engages customers, and grows your business at the click of a keystroke. Simplify meal preps and book a demo through our website today.