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How Useful ‘Loyalty & Reward Program’ To Bring More Customers To Your Restaurants Business?

If you are thinking to launch a “Loyalty & Reward Program” to revive your dying food business (Restaurants, Coffee Shop, Pizza Stores, Burger Shops, Sweet Shops, Ice Cream Parlours etc), and still there are crazy questions are remained un-answered such as:

  • Do you really think introducing “Loyalty & Reward Programs” will bring more customers at your door steps?
  • Do you really think that people cares for your reward points rather their safety in this pandemic situation?
  • Do you really think that Big Brands only survive due to their loyalty & reward point systems?
  • Which strategy is more successful for implementing a “Loyalty & Reward Systems” with my existing business?

The most sarcastic answer is –“It depends…!”. But let’s explore this uncertainty of this answer to understand how you can make your reward point successful.

First basic rule on any marketing strategy is to determine size of your audience as it will make you aware that it doesn’t matter you run any reward program for your single restaurant if your population of town/area is too small, it is going to fail. Instead, give them direct discount on less selling products, make combos, run different offers at regular intervals.

Second rule says that if you complicate the things, customers will go away instead of coming to your restaurant. If you design reward point (For Example, Buy Big Get Small Return) such that your customers feel cheated than it will decrease your footfall.

Third key point is consistency of reward system where if you are changing so many rules for your reward point system then every time your staff needs to explain it to customers which can create trouble with trust of customers with your brand. So visualize a long term rules from inception of reward system and wait for the success.

Fourth point is to give some personalization to customers. Everyone loves to get personal gift, don’t they! If your loyalty system is well defined with effective communication (SMS, Email etc) then it will surely give you growth in repeat customers.

Let’s summarize few good points which make your loyalty & reward point system a chance of success:

  • Keep reward point as simple as possible so that customers can understand it better
  • Provide clear communication, diverse and creative offers
  • Make sure you remain consistent with your loyalty & reward point system
  • Apply adaptive approach to reward system as no fix strategy will win you repeat customers

We also appreciate if you can write down your suggestions to us if we have missed anything. We wish everyone a speedy recovery to your business & this new loyalty & reward system can bring more profit to you.


Tips for Choosing the Right Franchise for Your Food Start-up

The food service industry is one of the fastest-growing in the world. That’s a direct result of our current lifestyle. People don’t seem to have the time, nor the will to cook for themselves.

It is the food service industry that is cashing in on that trend. From the looks of things, that’s a trend set to grow, without any signs of stopping anytime soon.

Therefore, investing in a food start-up franchise makes perfect sense. Here’s our blueprint on how to choose the right franchise for your food start-up.

Ask yourself: What do I want to accomplish through franchise?

This is all about being honest with yourself, knowing what you want to accomplish, and what can you achieve. But most important of all, you need to know your limits, both financial and else wise. You need to be clear with yourself about all those things so that later you don’t end up overreaching and making wrong estimates.

The truth is, investing in a franchise means that you will always be making decisions. Decisions for which you will need to make your best estimate given the current situation and factors. By knowing yourself and your limits, you can make better and smarter decisions.  

How Much Can You Invest?

Food start-up, or some other type of start-up, you need to set up a budget before making your move. Nowadays, there are franchise food start-ups that can be started with $10K and some that require an investment in a couple of hundreds of thousands of dollars.  Of course, there are plenty in between.

Keep in mind that aside from your initial investment in the franchise, you will need to take into account operational costs daily. These costs need to be covered until your start-up starts generating cash.

Explore The Food Franchise Landscape

This is about looking at your options, what’s out there, the cost, what people like, what they dislike, how is getting great reviews, who not so much. The idea is to get a sense of what’s available and maybe even make a list of potential food franchise businesses you might invest in.

At this point, it will be like casting a big net and seeing what will come out. The ones that are out of your budget limit, are too demanding, are getting bad reviews, or you don’t like their food, they are the ones that you need to eliminate from your list first.

Choose Facts Over Emotions

Thing is you might like franchise very much. You like their products, how they serve their clients, their business model, and everything in between.

However, don’t just rely on your instinct, or you might end up losing money. In some countries, franchisors are obligated to disclose all their documents. That way, you can have the full picture at hand before making any financial or legal commitment.

Talk To Franchises

Let’s say you’ve identified a specific franchise opportunity, you’ve talked to their representatives, checked all available documents, and from the look of things they look solid.

The next step is talking to some of the franchises. Don’t just talk to the ones that they will recommend you, but also other random franchises. That way, you can have a better feel at what it means to be a franchise for that particular company.

Furthermore, if you can find them, you can even talk to former franchises. The ones that invested and failed to make a profit. Their experience and feedback can be both indispensable and very revealing.

How Long Does It Take To Return Your Investment?

Whether it is a food franchise or some other, it all comes down to how fast you can return your investment, and how much you can earn. Again, it’s all about doing your research, going through the numbers, how fast other franchises got their initial investment back, and how much they earn per year.

Is The Franchisor Easy To Work With?

Truth is some franchisors are way better than others and take great care of their franchises. Typically, the ones that spend more time helping put their franchises, provide a lot of training and support, are the best and most successful ones.

Review The Franchise Agreement With Your Lawyer

This is so you know exactly what you are getting into; what are your legal obligations, what you are entitled to get from your franchisor, what will happen if there is a breach of the agreement from some of the sides, and so on.

Take your time to understand every aspect of the agreement, what it means to you, its relation to the local laws and regulations.

In Conclusion

The main point is not to jump blindly into something that feels like an excellent business opportunity. Do your researches, talk to a lawyer, and even make the call to which franchise suits you most.

BillberryPOS is a custom franchise management solution provider. If you like this article, please share to others with this Affordable POS Software For Franchises.