Introduction
As the fast casual Mexican food franchise industry continues to grow, gaining more popularity than fast food, there is growing potential for commercial operators to increase their profits and sales. If you’re looking for ways to improve your QDOBA franchise brand, this article will explore some strategies you can implement to increase sales and profitability.
Recent statistics show that the QDOBA franchise industry continues to grow. With more diners seeking the convenience and flavor of Mexican cuisine, restaurants are offering a variety of menu options and promotions to meet new customer demands. Using the right strategies to increase profitability can help you stay ahead of the competition.
Introduce loyalty discounts and rewards
Offering discounts and loyalty rewards can be a great way to increase sales and profitability for a QDOBA franchise. Introducing discounts and loyalty programs can help attract new customers, reward existing customers, and build customer loyalty. Discounts and loyalty rewards can also help increase average ticket size by persuading customers to purchase additional items when getting a discounted item.
Benefits of loyalty discounts and rewards
- Increases the number of customers.
- Rewards existing customers.
- Building fidelity.
- Increases the average ticket size.
For example, offering a 10% loyalty reward to customers when they visit multiple times encourages them to keep coming back. This type of promotion increases repeat customers and helps boost ticket sales, while increasing customer loyalty. Similarly, offering discounts can attract new customers as they search for deals and are attracted by a discount or promotional offer.
Discounts and loyalty programs can also be tracked and monitored to determine their impact. Tracking discounts, loyalty reward sales and visits, and average ticket size can provide insight into performance and profitability. This type of information can be used to adjust strategies and create more effective promotions with the goal of increasing sales and profitability.
Streamline ordering options for convenience
As a QDOBA franchise owner, you want to increase both sales and profitability. One of the effective strategies you can use to achieve this goal is to streamline ordering options for convenience. This strategy can help you increase sales volume and improve profitability.
Adding more ordering options, like allowing orders through a mobile app, can make it easier and faster for customers to place orders. With a mobile app, customers can order their favorite meal without having to wait in line. This saves time for the customer and staff, as there is no need for lengthy conversations or answering questions about the menu – customers can simply choose their order from the list.
Offering online ordering can also reduce ordering errors. Through online ordering, customers can customize their orders and clarify food allergies or special dietary requests. This ensures that the customer’s order is accurate and that their food is exactly how they like it. This leads to fewer customer complaints, which can translate to a higher rate of customer satisfaction and repeat business.
In terms of increasing sales and profits, streamlining ordering options can help. Customers who have the ability to order quickly and conveniently will be more likely to place larger orders. In addition, the faster the order, the more time staff will have to prepare meals and serve customers. This increases the overall efficiency of the restaurant and leads to higher sales volume.
Example calculation: Let’s say the average order size of your QDOBA franchise is . If you can increase the average order size by 5%, that would be an additional profit of .40 per order. By streamlining ordering options and making it more convenient for customers, you can place more orders in a shorter period. Now let’s say you can place 20 more orders per day due to streamlined ordering options. That would equate to per day of extra profit. This increases to 8 in additional profit per month.
As a QDOBA franchise owner, streamlining ordering options can make a real difference to your bottom line. Giving customers the ability to place orders with ease and convenience will help your business succeed. With more efficient order processing, you can increase sales volume and improve your profit margins.
Increase brand visibility through digital and print media
Increasing brand visibility can be one of the most effective strategies for driving sales and profits for your QDOBA franchise. By using digital and print media to advertise your business, you can easily reach new customers and expand your brand recognition.
The first step in implementing this strategy is to create strong visuals for your campaigns. Graphics for digital media should be optimized for smaller screens, such as smartphones and tablets, while visuals for print media should be larger, so they can be easily viewed from a distance. Choose relevant, eye-catching images and use compelling color schemes to grab customers’ attention.
It’s also important to identify your target audience and tailor your campaigns accordingly. Be sure to create a direct message and speak directly to this audience. It can make your campaigns more successful and increase engagement.
Once you’ve established your campaigns, you can leverage digital and print media to reach new customers. Digital media can be used to market your business through websites, email marketing, and social media. Along with print media, promotional materials, such as flyers and posters, can be distributed in strategic locations throughout the region.
By increasing brand visibility, your QDOBA franchise can gain more customers, which can ultimately increase sales and profits. For a simple example, let’s say your business brings in ,000 per month in revenue. With an effective digital and print media strategy, you can potentially increase your sales by 10%. In this case, that would mean 0 in extra income each month.
Diversify menu items to attract new customers
In order to increase sales and profits in a QDOBA franchise, restaurant owners should consider diversifying their menu to attract new customers and increase customer satisfaction. While it’s essential to focus on established core menu items that customers love, introducing new menu items can work as an extra pull to attract new customers while providing additional options that they can’t get anywhere else.
The key to diversifying the menu is to create unique items and incorporate a variety of ingredients that appeal to various tastes. A variety of menu items appealing to vegetarians, those wishing to eat fewer carbs, and even those who want dishes that provide extra heat and spice can all be incorporated. It’s also important to periodically change the menu, removing items that aren’t popular and replacing them with items that have proven appealing to customers.
When introducing new menu items, you should consider not only the cost of materials and design, but also the cost of production, the cost of preparation, and the cost of storing and disposing of leftover ingredients.
To calculate the impact of introducing a new menu item and what it might do to the bottom line of the franchise, you can use the following example:
- Material cost: per item
- Labor cost: per item
- New Menu Item Price: per item
- Serving: 20 items per day
This example would result in a net profit of per day, or ,882 per month. Therefore, if a franchise can successfully introduce new menu items that cost per unit, with a selling price of per item and a production/labor cost of per item and can sell at least 20 units per day, it should generate an additional ,882 per month in gross profit.
In conclusion, it is essential for a franchise to continually consider diversifying its menu in order to stay ahead of the competition, appeal to a wider range of customer tastes, and help the franchise grow its customer base and its profitability.
Offer catering services as an additional source of income
Adding catering services is a great way for a QDOBA franchise to increase sales and profits. Offering catering services gives customers another way to enjoy the delicious food their local QDOBA franchises have to offer and allows QDOBA to serve larger groups of people at once. Additionally, catering can help increase the number of customers visiting the store, leading to higher individual order sales and more chances for customers to purchase upgrades or add-ons.
Tips and tricks for providing catering services
- Build a catering menu that features custom portions and items, plus specials to make ordering catering a no-brainer.
- Host tastings and demos with local businesses, corporate organizations and other groups. Consider offering discounted rates for local businesses.
- Set up a website to make food ordering easy and efficient. It should include simple shapes that make order restore packages a breeze.
- Offer special discounts for recurring catering orders, such as a 10% discount for orders placed more than six times in a year.
- Monitor catering orders to ensure top-level customer service and satisfaction.
Impact on sales and profits
Offering catering services can have a positive impact on sales and profits. Studies have shown that restaurant orders can be more than twice as profitable as an average in-store customer order. For example, a small catering order of 0 with a food cost of 25% could provide a gross profit of 0. Additionally, catering orders typically require a larger number of employees to fulfill, but generate higher revenue per order than dine-in customers. This helps increase overall franchise revenue.
Calculation example
Suppose a QDOBA franchise hosts 10 catering events each month that yield an average order value of ,000 each. With an average food cost of 30%, the franchise would make a gross profit of ,100 per order and a total gross profit of ,000 per month from catering. After accounting for all expenses related to catering events, the net profit would be approximately ,150 per month.
Conclusion
Successfully increasing the sales and profitability of a QDOBA franchise requires comprehensive knowledge and understanding of customer needs and goals. Using a variety of strategies such as discounts and loyalty rewards, streamlined ordering options, increased brand visibility through digital and print media, diverse menu items, and offering catering services as As additional revenue streams, franchise owners can boost customer satisfaction, create customer loyalty and ultimately increase profitability.
By implementing these strategies, you can begin to see an increase in sales and customer satisfaction. It’s important to continually evaluate your strategies and look for ways to stay ahead of the competition and increase profits. With the right vision and the right execution, you can create a successful and profitable QDOBA franchise.