Most Popular Posts

FREE EBOOK
New call-to-action

Posts by Topic

see all

Follow Bartercard

linkedinfacebooktwitter

3 Ways to Maximise Customers & Cash Flow

Written by Klara Vida on Sep 13, 2018 11:20:11 AM 0 Comment

bowl-chairs-cooking-262918

Do you have empty seats to fill?  Want to boost cashflow in your restaurant or bar? 

In a constantly-shifting industry where new venues are opening weekly, staying at the top isn’t always easy.  Bartercard has the tips and tricks to stay ahead of the curve and think outside the wine box to attract new customers.  Discover 3 ways to maximise customers & cashflow with Bartercard.  

Who is Bartercard? 
Just like the baker traded with the flour mill and luxury goods were swapped with lucrative services, Bartercard has created a modern way of exchanging products and services instead of spending cash.  But instead of a direct swap, members use a digital currency called trade dollars.

Today Bartercard members are spending trade dollars on everything from lunch to a multi-million-dollar development, accommodation at luxury resorts, retail and business services to keep more cash in their restaurant or bar.  In fact, businesses have saved $4.5 billion though Bartercard’s cashless marketplace.  

Instead of (just) listing with food delivery services, deal sites or third party booking sites…  Attract new customers with Bartercard
Food delivery services are buzzing and while they’re putting restaurants in the mix, not all restaurateurs are opting for the paper bag approach which like anything 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. 

If you’re looking to list on deal sites, factor in the impact of discounting prices which can devalue a brand and attract one-off customers shopping at a specific price point.  Similarly, third party booking sites can capture the details of bookings to remarket to, instead of the restaurant doing so.

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 Bartercard and are more likely to return in the future.          

There’s many options to attract new customers in the market and you might find a mix of different approaches works.

Instead of spending cash on every business expense…  Offset cash expenses with Bartercard   
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 like 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.      

Build your business network
Building a network of local restaurateurs and businesses owners lets you continually learn, stay in the loop, think outside the box 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.    

Looking for more business tips? Download our free ebook. 

 

Topics: Bartercard, cash flow, attract new customers, food delivery services, third-party booking sites, deal sites, maximise customers

Bartercard Digital Essentials