Introduction
Is your Charley CheeSesteaks & Wings franchise looking to increase sales and profits? There are many strategies you can use to help your business stay competitive in the restaurant industry in 2020 and beyond.
The restaurant industry has seen significant growth recently. According to the National Restaurant Association, restaurant sales increased 3% in 2019, totaling more than 3 billion in sales. It is expected to generate 0 billion by 2020.
With the right strategies, your Charley Cheesesteaks & Wings franchise can capitalize on this industry growth and increase sales and profitability. In this article, we’ll explore several strategies to help your business generate more revenue.
Leverage social media platforms to improve customer engagement
Social media platforms such as Facebook, Twitter, Instagram, and YouTube provide small business owners with an effective, budget-friendly way to market and engage with their customer base. Leveraging these platforms to effectively market and engage with customers can dramatically increase the sales and profitability of a Charley CheeSesteaks & Wings franchise.
Here are some tips and tricks for creating a successful social media engagement strategy for your franchise:
- Invest in paid advertising : Make the most of your social media presence by investing in paid advertising across the various platforms. Paid ads will help get more people to notice your business and its offerings.
- Provide special offers and discounts : Give your customers incentives to visit your franchise by offering special offers or discounts in your social media posts. It’s an effective way to engage with your customers and increase sales.
- Encourage customer reviews : Ask your customers to leave reviews of your franchise on the various platforms. You can also encourage customers to leave positive reviews by offering discounts or freebies.
- Create content : Posting engaging content on your social media pages can help you stay top of mind with your customers. Create engaging, informative and entertaining content.
Using these strategies will help you engage more effectively with your customers, build relationships with them, and increase sales and return profitability to your Charley Cheenesteaks & Wings franchise. For example, let’s say you invest 0 in a paid advertising campaign and it brings in 50 clients. If each customer spends an average of on one of your offers, that’s a total of ,000 in incremental sales. This translates to a profit of 0 (,000 in sales minus 0 in ad spend), which is a huge return on your investment.
Develop loyalty programs to provide incentives for customers to return
The success of any Charley CheeseSesteaks & Wings franchise relies not only on acquiring new customers, but also on retaining existing ones. Loyalty programs are a great way to keep customers coming back and making them worthwhile. This, in turn, can have a positive effect on the company’s sales and profitability.
Phase one: identify the right incentives
The first step when creating a loyalty program is to decide what kind of rewards will be given to customers. Some examples might include special discounts, exclusive menu items, or even point-based systems that allow customers to accumulate rewards over time like a credit card rewards program. It’s important to consider which incentives best align with your franchise’s overall mission and make the most sense to the customer.
Phase Two: Program Setup
The next step is to configure the program. This includes how customers will join, how they will earn rewards, and how to complete the program. Proper loyalty program tracking is essential for a business to measure its success and ensure that customers receive their rewards. Some franchises use a physical punch card system where customers can accumulate stamps or points for each purchase. Others opt for a digital loyalty program, allowing customers to sign up through an app or website.
Phase Three: Incentivize Customers
The final part of implementing a loyalty program is setting up incentives to get customers to participate. For example, you can offer an introductory reward like a free appetizer or a discount on their first purchase upon signup. You can also offer rewards for the number of visits a customer has made, the amount of money they have spent, or for sharing content that promotes your franchise on their social networks. Providing customers with incentives to join and stay active in the loyalty program is essential for its success.
The impact on sales and profitability
It should be noted that although loyalty programs can have a positive effect on sales and profitability, additional steps may need to be taken in order to ensure the program is successful. For example, a marketing plan should be designed to help promote the program and attract customers.
To illustrate the potential profitability of loyalty programs, consider the following example: If a Charley CheeSesteaks & Wings franchise implements a loyalty program offering customers a 10% discount on their fourth purchase, and the average ticket price is of , then the business has the potential to earn in additional revenue ( x 0.1 x 4) for each customer who participates.
By creating a customer loyalty program, Charley Cheesesteaks & Wings franchises can benefit from increased customer retention, improved customer experience, and increased sales and profitability.
TRAPALE THE PERSON
At Charley CheeSesteaks & Wings, providing excellent customer service is of utmost importance to increase sales and boost customer satisfaction. A proper customer service training plan will ensure that all staff know the basics of exceptional customer service.
Customer service excellence training staff should include the following tips and tricks:
- Smile: Always greet customers with a smile and maintain a pleasant demeanor throughout the interaction. This establishes a warm and welcoming connection with customers that makes them more likely to return.
- Listen: Listening is an important part of any customer service interaction. Let customers take the time to fully explain their needs and wants, and go the extra mile by asking follow-up questions to ensure they’re getting the best experience possible.
- Suggest: Where appropriate, make suggestions and provide helpful advice to customers based on their individual needs. This shows customers that you care about their long-term satisfaction and makes them more likely to return in the future.
- Thanking: End customer interactions with a genuine thank you. Be sure to thank customers for their time and remind them that their continued business is appreciated.
Investing in customer service training for staff can lead to increased sales and profitability for Charleys Cheesesteaks & Wings. On average, companies that invest in customer service training can see sales increases of up to 6%. This translates to approximately ,000 in additional revenue for a franchise with million in sales.
Explore potential markets for new franchise locations
As a Charley’s CheeseSesteaks & Wings franchise operator, you understand the importance of rational franchise expansion. Popping up in a dozen new cities overnight isn’t the most sustainable strategy for success.
Given the importance of aligning a franchise with local markets, here are some strategies to consider when exploring potential markets for new franchise locations:
- Assess current customer data and preferences . Your current customer base will generate valuable data on the types of customers you attract and the menu items they tend to order. If a fast food chain targets the same demographic and is successfully selling items that aren’t currently on your menu, consider adding those as well.
- Understand the competition . Digital tools such as Yelp, Foursquare and Google Maps will provide valuable insight into the types of restaurants already in the market, the prices they serve and the overall reviews they receive.
- Know your location . Assess current housing and employment trends in the area. Knowing if people are staying long-term can be a more accurate predictor of likely customer retention than just counting heads.
Adopting a well-informed and well-informed business strategy and strategy will dramatically increase the sales and profitability of your franchise operations. For example, if your franchise provides meals at a lower price than the competition, the potential for more customers – those looking for a value proposition – is greatly increased.
Using a simple calculation, we can estimate the impact of a well-informed expansion strategy. For example, if the average trade size is and the target competition serves 500 customers in a given day, beating the price increases your target market to 1,000 customers. The increase in sales in this case could be as much as ,000 per day.
The example above is intended to demonstrate the potential of a well-informed local market strategy. The actual impact of strategy on sales and profitability will vary significantly based on market size, competition, pricing, and other factors.
Conduct ongoing research to identify customer preferences
As a Charley Cheenesteaks & Wings franchise owner, staying current on customer preferences is essential. Knowing what types of products to offer and what promotions or sales strategies to target are sure to bring value to a new or existing customer contributes to increased sales and profitability. Doing ongoing research and fine-tuning your franchise offerings as market demand shifts will help set your franchise apart from the competition and drive growth.
Tips and tricks
Here are some tips and tricks to ensure you follow customer preferences when running a Charley CheeSesteaks & Wings franchise:
- Engage in frequent market research, such as customer focus groups, surveys, and phone interviews, to glean information about customer preferences.
- Encourage customers to provide feedback or participate in surveys, polls or reviews.
- Perform a SWOT analysis to identify potential customer preferences.
- Regularly monitor customer trends, such as shopping preferences and reviews.
- Automate the process of collecting and comparing customer preferences.
When customers feel engaged and appreciated, they become loyal to your franchise and visit regularly. This in turn can increase your franchise’s sales and profitability.
Calculation example
Let’s take the example of a hypothetical Charley Cheenesteaks & Wings franchise located in Washington DC The cost of conducting a survey of customers regarding their favorite menu items is 0. Survey results indicate that customers prefer a regular chicken sandwich with fries over a classic Philly cheese sandwich with onion rings. By highlighting the menu item as a featured item in promotions, the restaurant achieves 0 in sales that month.
In this example, the cost of completing the survey is offset by the additional sales that month. So, by conducting ongoing research to identify customer preferences, you can be sure of a positive return on investment (ROI) and increase your franchise sales and profitability.
Conclusion
Adopting the strategies outlined in this article can help your Charley Cheesesteaks & Wings franchise increase sales and profitability. Establishing a comprehensive marketing strategy, leveraging social media platforms, creating a loyalty program and training staff to deliver excellence in customer service can help improve the customer experience and therefore the results. Investing in exploring new markets, partnering with local businesses, and envisioning a digital presence is also key to growing your business. Finally, ongoing research will help you stay ahead of changing market trends and better understand customer preferences.
Combined, these strategies can put you in a prime position to take advantage of the restaurant industry’s projected growth to 0 billion by 2020. With the right strategies, your Charley Cheenesteaks & Wings franchise can differentiate and achieve continued success in the years to come.