Running a bar may be something that you have always wanted to do. After all, who wouldn’t want to run a business that revolves around people having a great time? But, while running a bar may seem fun, few people realize that success in any hospitality business takes a lot of hard work. The hospitality industry is hugely competitive, and during times of economic downturn, it is bars, pubs, and restaurants that are often hit hardest. This means it is essential to continually work hard to attract new customers while retaining regular ones. However, attracting a steady stream of new customers without putting off your existing ones can be a tricky balancing act, especially when people are trying to spend less. Taking a fresh approach to your business by revisiting some tried and tested ideas and introducing a few new ones will help your bar thrive. Take a look at the following tips to help boost the success of your bar:
Consider Your Target Market
One reason that some hospitality businesses struggle is that they don’t appeal to their target market. Spending some time considering who the target market for your bar is will help you to determine what they are looking for from a bar. Tailoring your bar to appeal directly to its target market is a must. Sometimes a bar can evolve, and this can see it change so that it gradually loses its appeal among its target market. So it is helpful to re-establish your bar with its target market by ensuring that it meets the needs of this audience and is designed to appeal to them. This can be reflected in everything from the opening times, the types of drinks that you serve, and the décor.
Introducing entertainment to your bar is an excellent way to attract new customers. However, finding the right entertainment can be challenging. Trying to choose between the many bands, DJs, and other entertainers that are available can be time-consuming and something that you cannot arrange when you are already busy trying to manage your bar. But, using the services of a specialist company such as Entertainment Solutions will help to make it so much easier to get the best acts into your bar so that you can attract new customers and send your takings soaring.
Running drinks promotions is undoubtedly a familiar trick, but revisiting this is worthwhile. Re-assessing how popular your offers really are and whether they could be improved is a simple but effective way to maximize your profits. Thinking of ways to upsell by using drinks promotions to encourage your customers to spend more over the course of their visit can be a great way to improve your takings.
If you serve food, you may want to experiment with drink and meal offers and extra discounts for large groups when they purchase food. Trialing these promotions and monitoring them carefully will help you to spot any further money-making opportunities and inform your future plans.