It’s practically party time! Over the course of the next several weeks, business owners all over Canada will be celebrating the holiday season with their employees. Company holiday parties are certainly the norm, at this time of year. And, for many employers, it’s much easier to host a holiday party at a venue other than their places of business.
Could your restaurant make the ideal holiday party venue?
If so, it’s definitely time to start promoting your eatery as “party central”. Many business owners start scoping out possible locations as early as September. With Christmas now five weeks away, there’s no time to waste in marketing your restaurant as a place where company holiday parties can be held. Doing so is highly encouraged by Veem.com.
“Create a holiday party package and offer it to your corporate clients,” recommends the website, “Make it attractive enough (e.g. with an early booking discount, easy payment methods, or free desserts thrown in) to make those workers stop looking once they’ve found you. Alternatively, you can also offer catering at your client’s own offices. If you’ve done this in previous years, make sure to email your contacts and let them know they can book your services again.”
Offering your restaurant as a holiday party location will elicit higher spend.
When patrons visit your restaurant, it’s anyone’s guess as to how much each of them is going to spend. When you host an office holiday party, you’re practically guaranteed a larger-than-normal take in of revenue. According to Nick Miller on GatherHere.com, the average large group or private event spends around $2,500.
“That’s 5-20x the amount of revenue your average table will bring in,” he writes, “Events also tend to have higher average tickets than your typical customers. That’s because private events are often celebratory – think corporate holiday parties, rehearsal dinners, and business celebrations – and as a result, tend to include higher spend on additive items like alcohol and dessert.”
Holiday parties offer predictable revenue.
Because holiday parties are booked ahead of time, you’re given the peace of mind in knowing that on the booked date, your restaurant will generate high revenue. As mentioned, holiday parties generally give restaurant big boosts in their business. Miller notes that the majority of large group and private events are booked 30-60 days out from their actual date.
He also points out that booking a holiday party at your restaurant involves getting a deposit. “It’s standard practice to collect a deposit of 10-50% of the estimated total cost when private events customers book with you,” Miller informs, “Over 90% of the restaurants we work with also collect signed contracts, to partially or fully guarantee the estimated cost of the event ahead of time.”
At Canadian POS, we have many years of experience working with restaurant owners.
We know how important it is to promote restaurants as great places to celebrate the holidays. We also know how important it is to accept credit cards and debit cards as methods of payment from customers.
We strongly believe there’s no better way to accept credit cards and debit cards than with the revolutionary Poynt Smart Terminal. Please don’t hesitate to call us at 1-877-748-2884 or email us at info@localhost to learn more!