Tips to help bars, restaurants, and other hospitality operators succeed in the coming season.
In the past, the holiday season brought the on-premise industry a year-end boom of corporate parties, family get-togethers, and catering galore – but then COVID hit. As we collectively enter year three of dealing with a global pandemic, retailers must navigate ebbing-and-flowing consumer demand, changing federal and local regulations, supply chain issues, and staffing shortages, all while balancing profit margins. With the 2021 holiday season right around the corner, here are a few tips to help your bar or restaurant succeed.
Automate, automate, automate
A common theme popping up across nearly every business is automation, and for a good reason! Automating manual tasks takes away the risk of human error and gives time back time that’s better spent on other areas of business. But where do you start? Start with technology that gives you the biggest bang for your buck. For example, automating alcohol invoice payments through Fintech doesn’t just improve the efficiency surrounding product delivery; it cascades enhancements throughout the entire alcohol management process. The automation provided is invaluable in saving a business time and money, from eliminating manual data entry to providing critical insights that drive better buying strategy. Plus, for less than the cost of a case of bar limes, Fintech delivers a nearly immediate return on investment.
Stay up to date with changing regulations
As we’ve learned over the last two years, nothing is certain in the realm of regulations. We closed, we reopened, and shifted between capacity restrictions and dine-out options. Regulations changed, and some emergency orders that were instituted during the height of COVID have been effectively passed into law. Are you sure about capacity restrictions or vaccine mandates? Do you know the laws surrounding cocktails to-go in your state? Partnering with industry leaders who have a depth of regulatory knowledge and resources can simplify operating within the law. At Fintech, we have a dedicated regulatory affairs rep who lives and breathes the legislation impacting your business. Fintech also forms relationships with state associations that serve as an advocate for industry members. Having an ally and informational resource will make all the difference as the industry adapts moving forward.
Focus energy and resources on welcoming guests
With everything that’s gone on over the last year, consumers are undoubtedly ready to get out for the holidays. It’s vital to your brand and your profits to ensure they have the best experience possible! And with all the extra time and money you’ll save from automating, you’ll have plenty of resources to dedicate to the cause. Take time now to build a unique dining experience or creative drink menu that will show off your carefully crafted brand, then use Fintech’s insightful purchase reports to monitor pricing and ensure the correct products are making it through the back door. For an added holiday bonus, create an insta-worthy holiday backdrop to draw in even more bar patrons.
If we’ve learned one thing over the last eighteen months, it’s to anticipate the unpredictable. And while no one knows for certain what the last quarter of this year will bring, it’s important to set a foundation of success. If you haven’t implemented our tips yet, don’t worry, there’s still time! Get started with Fintech for automated alcohol invoice payments and see your ROI before the holiday craze even hits. Already building your #nofilter holiday spectacular? Tag us on social media to get the word out!