4 Ways A Restaurant Remodel Can Increase Revenue
Let’s face it, after a while, everything can start looking a little…tired. Whether it be your favorite pair of shoes, leather chair or restaurant, after a few years it’s bound to get shabby. This is why restaurant renovations are critical when owning and operating a restaurant that you’d like to see succeed for years to come.
Benefits of a Restaurant Remodel
Restaurant remodeling isn’t just for aesthetic reasons, either. In fact, the investment you put into a restaurant renovation can greatly improve your bottom line in ways you never expected. Read on to learn the top four reasons a renovation can lead to increased revenue.
1. Garner Attention & Brand Awareness
A simple and effective renovation facelift is to paint the outside of your restaurant. This will catch the attention of both regular patrons and passersby that perhaps didn’t notice you on their regular commute before.
Look for colors that represent your brand and offer a welcoming atmosphere. By selecting the right colors, you can promote feelings of peace, positivity, and even hunger before a guest even walks through the door. Paint the outside of your restaurant and see your ticket count rise as a result.
If your restaurant thrives on customers who seek you out – or you don’t have an exterior you can paint – there are plenty of other ways to increase your revenue through increased brand awareness. A fresh coat of paint indoors can add an instant boost, and you could even renovate your logo and menu style so guests that find you online will notice your new “look” and feel compelled to visit.
2. Improve Perceived Food Quality
If guests arrive at your restaurant and notice worn furnishings, tired upholstery, and grimy floors, they’ll naturally perceive your food as being equal quality to that of your restaurant’s interior.
As you look around your restaurant, do you really want patrons assuming your food is as good as your furniture? How about your carpet or tile?
If this thought makes you cringe, it’s probably time for a renovation. Luckily, this doesn’t always have to break the bank. Repainting furniture and reupholstering furniture isn’t wildly expensive, and depending on how worn your interior is, you may be able to skip a reflooring altogether.
With these refreshing renovations, your guests will see the value and quality of your food and happily pay their worth. An increase in revenue will also occur if you choose to raise prices to match the quality of your restaurant.
3. Use Your Restaurant Remodel To Design A Great Experience
Whether you’re serving fast-casual or full-service, guests are coming to your restaurant to have an experience. From the lighting to the flooring to the dishware, everything contributes to your guest’s overall experience – and you have the power to control exactly what that looks like.
The experience you design has a monetary value that translates into increased revenue. For example, dim lighting can create a cozy, warm atmosphere that encourages guests to stay awhile while upbeat music and bright colors could invoke a sense of energy and movement in a fast-paced restaurant that thrives on quick turnovers.
4. Decreased Price Sensitivity
When a customer enters a restaurant that is updated not just aesthetically but technologically and service-wise, too, they’re less likely to gawk at prices. Although you should always assess your demographic and transactional data before increasing prices, a renovation could be the perfect way to kickstart a price bump in menu prices.
With your renovation, update your team’s service skills, too. Train your employees to take your customers through the experience smoothly and enjoyably, and teach your team the importance of maintaining the atmosphere you’ve created.
Another key renovation checklist item is updating your technology and POS software. Customers notice outdated technology – especially in today’s day and age – and old, malfunctioning technology can be distracting. Flyght ensures quick and easy transactions on the front-end while organizing everything you need in the back-end for a seamless and elevated customer experience.
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