Regardless of how popular your bar or restaurant is, there are many of ways to fully maximize income. Want to know one of the best ways to bring in more revenue? Host private events.
Events are a great way to gain more revenue at your establishment and they usually provide higher margins. According to Gather, the average party size of full-service restaurants is 3.7 guests, which is usually $50 a couple and $100 per party. The average large group or private event on the other hand spends around $2,500!
However, restaurant event planning isn’t as simple as you may hope for. Parties tend to be high-touch affairs that can become a time sink for already busy management. By coming up with some standardized processes you can cut down on the work and maximize your returns on larger events.
Here are some event planning tips for bar and restaurant operators.
- Create an event process and menu.
Everyone at your establishment needs to be fully prepared for every event. The best way to go about this is to create a standard event planning process for each team.
It is important to keep a detailed calendar of events and holidays so you don’t overbook your space or unintentionally limit the space you have for other guests. Know what configurations and types of parties work best in your space and guide potential groups into those options.
Create a contract so that everyone knows what to expect (the number of guests, the cost per person, and extra fees) so everyone is on the same page about expectations. Consider taking a non-refundable deposit in case your large party cancels at the last minute.
Event menus are a great way to show off your originality and make the guests feel like they’re special. It is also a great way to control orders and items to ensure your kitchen can keep up with your large party. If applicable, event managers can work with clients to design a one-of-a-kind menu for their event keeping in mind your kitchen constraints.
What makes your restaurant or bar unique? Think about all the special aspects about your place. Use that to your advantage when hosting an event. Make the occasion truly special and your patrons will talk about and recommend your space to their friends. Also, during an event you’re exposing your restaurant to potential new guests who could become your next regulars.
- Give Your Guests the VIP Treatment
An unforgettable dining experience is all in the little details. That’s why it’s important to go above and beyond for your event guests whenever you can. Those final touches and little details can make an experience remarkable. Some ideas include fresh flowers, personalized table name cards, well-matched classy outfits for your waitstaff, cute to-go boxes, or a special dessert. The options are endless.
What are some of the most memorable events at your establishment?