Introduction
Are you a lean chicken franchise owner looking to increase your business sales and profitability? You’re in luck because this blog post outlines 8 effective strategies that will help you do just that!
The chicken and fast food industries have seen tremendous growth in recent years. According to National Chicken Council 2020 statistics, total chicken and fast food industry sales in the United States exceeded 8 billion in 2019, with poultry fast food sales exceeding billion.
These statistics clearly demonstrate that consumers are increasingly choosing poultry over other types of fast food, making it a lucrative and rewarding industry to participate in.
To get started, it’s essential to learn how to maximize the potential of your Slim Chickens franchise to increase your sales and profitability. Keep reading to learn more about the 8 strategies that will help you get the most out of your business.
Develop a loyalty program
A loyalty program is a great way to increase sales and profitability in your Slim Chickens franchise. With a loyalty program, you get customers to come back and buy your products more frequently. One way to do this is to offer regular cardholder discounts when they purchase your products. This means that customers will return more often because they expect a reward for doing so.
In addition to providing customers with discounts, you can also offer reward points for different levels of spending or for purchases made for specific days of the week. For example, you can offer customers 5 points for every they spend, and those points accumulate to earn bigger rewards after they spend a certain amount. Offering rewards and discounts to customers encourages loyalty and helps increase repeat customers.
A loyalty program can dramatically increase sales and profit margins for your Slim Chickens franchise. For example, let’s say a customer spends 0 on your deductible. If you offer 10% discount to members of the loyalty program, the customer will receive a discount. This discount reduces your gross sales by , but the customer is more likely to come back and spend that with your business, which more than offsets the discount. This type of loyalty program incentivizes customers to spend money and also gives you a good opportunity to upsell them with additional products.
Another way to increase sales and profit margins is to offer exclusive promotions to loyalty program members. This will make loyalty program members feel special, as only they will have access to special offers and discounts. This will not only encourage loyalty program members to keep coming back, but can even potentially attract new customers who see the attractive offers you make available.
Creating a loyalty program for your Slim Chickens franchise is a great way to increase sales and profitability. Not only will it provide customers with incentives to return and make additional purchases, but it can also set your business apart from your competition. Offering special discounts and rewards to loyalty program members will give customers a reason to choose your business over others in the area. By investing time and resources to develop a loyalty program for your business, you can expect to see a positive return on investment in a relatively short time.
Partner with local businesses
Partnering with local businesses can be a great strategy to increase lean chicken sales and profitability. When approached correctly, these partnerships can generate additional revenue for both parties, while potentially increasing the overall visibility of the Slim Chickens brand.
The key to success is to develop a beneficial business relationship for all parties involved. Start by looking for companies that offer services that align with or complement your product or service. Once you have identified potential partners, contact them and discuss ways to work together. This could include offering loyalty programs, such as discounts for the other company’s customers if they also buy from Slim Chickens, or offering two-for-one specials if another company’s customers also buy by Slim Chickens.
These types of programs can be set up with minimal effort for both parties and can create a stable revenue stream for your franchise. Also, if made and marketed correctly, customers of partnership businesses might be more likely to buy Slim Chickens because they already know the business and can develop a new relationship with you.
To give an example, let’s say your local bike shop offers members a 10% loyalty discount. You could offer them a deal where they offer their regular customers a 20% member discount if they also buy from your Slim Chickens franchise. Not only will you both benefit financially, with the second company providing their members with great value, but you will also gain additional exposure to their customers, which can increase business.
Calculate the effects:
To calculate the effects of this strategy, you need to keep track of the customers coming from the partner company. For example, if the business partner provides you with 10 new customers per week, and each of those customers spends an average of on your Slim Chickens franchise, you will have an increase in revenue of 0 per week. Additionally, if the partner business promotes your business to their customers, you may see an increase in sales due to customers outside of the loyalty program who may not have known about your business.
It is also important to consider the cost of the loyalty program. For example, if you provide 10% discount on your products for the customers of the partner company, you must calculate the value of this discount against the revenue generated. A simple equation for calculating cost versus benefit is:
Cost = Loyalty Discount x Customer Retention # x Average Spend
Benefits = customer retention x average spend
By comparing the cost to the benefit, you can easily see if the program has been profitable and determine if it is worth continuing or adapting. If the benefit outweighs the cost, this strategy can be a great way to increase sales and profitability for your Slim Chickens franchise.
Use targeted digital marketing
Adopting a targeted digital marketing strategy can dramatically increase the sales and profits of a Slim Chickens franchise. For example, a business can use geo-targeting to serve ads based on a user’s location. In this way, people who are near the restaurant will be informed of its existence and will have the opportunity to visit it. By creating and targeting campaigns around special events, businesses can also grab the attention of people who might otherwise be unaware of the restaurant’s presence.
Using email campaigns can also be a great way to increase sales and profitability as they allow businesses to engage directly with their customers. Email campaigns can be used to create brand awareness, offer discounts and offers, remind customers of the restaurant’s existence, and much more. Additionally, retargeting ads on social media platforms and search engine sites can also be a great way to capture customer attention and increase sales.
For example, a company can create a highly targeted advertising campaign on Google and Facebook for a specific demographic and geographic area. Such campaigns could focus on keywords relevant to the business, allowing it to capture an audience with an interest in its products. This will take people directly to the Slim Chickens franchise website, which can then lead to increased sales and profits.
By leveraging digital marketing methods such as geo-targeting, email campaigns, and retargeting, businesses can target their marketing to a specific audience, which can dramatically increase sales and profits. Additionally, digital marketing also allows businesses to measure the results of their campaigns, giving them the insights they need to further optimize their efforts to generate higher returns.
Restoration events
Catering events are a great way to boost your franchise sales and the profitability of your lean chickens. Offering catering services at corporate and private events will increase your customer base, give you the opportunity to showcase your product and increase your average order size.
To get started, you need to find events to cater to by researching local businesses that host large events or advertising the catering services you provide. You can also contact professional event planners and wedding venues to promote your catering services. Advertising in local newspapers and posting flyers in community hotspots such as gyms and grocery stores are other options to get the word out.
Once you’ve identified events to cater to, be sure to negotiate a package to ensure the best money-making opportunity. A good way to structure the deal is to quote a set price for a menu and unlimited drinks. Offering multiple meal packs could also be beneficial and could increase sales.
Now let’s look at an example calculation. If you plan to cater to a corporate event for 100 people and can negotiate a ,000 flat fee for catering services, you will need to decide how much you will charge per person. Since you serve thin chickens, let’s say you charge the average cost of chicken tenders for each person, which is about per person. This means you can make 0 gross profit on the catering event, or 8% profit (0 profit divided by ,000 total cost).
Catering events are an effective way to increase your franchise sales and the profitability of your lean chickens. Not only can you showcase your product, but you can also increase your customer base, create packages to ensure the best money-making opportunity, and make a good profit on the catering event.
Engage customers with surveys
Surveys are a great way to get helpful customer feedback about your Slim Chickens restaurant. Not only do surveys provide direct feedback on customer satisfaction, they also help you identify loyal customers and areas for improvement. Plus, surveys give customers a personalized experience that can increase their loyalty to your restaurant.
Using surveys to gauge customer satisfaction and improve your restaurant experience can have a direct impact on your business’s revenue and profits. The more satisfied customers are, the more likely those customers will become repeat customers who will buy more from your restaurant. Additionally, surveys that identify improvements can reduce operational costs by reducing waste. The resulting economic efficiencies will increase profitability over time.
Here are some tips for using surveys to increase lean chicken sales and profitability:
- Send surveys regularly. Surveys are most effective when sent regularly, so customers know you’re interested in their feedback.
- Encourage customers to complete surveys. Offer discounts or other incentives to customers who complete the survey.
- Listen to customer responses. Implement changes based on customer feedback and communicate those changes to your customers.
- Measure your success. Continually track customer responses to your surveys and structured changes.
For example, let’s say you send out a survey to customers after they visit your Slim Chickens restaurant. After the investigation, you discover that there is a problem with the wait times for food. You can then make changes to speed up food preparation and reduce wait times. Your customers will be happy with their improved experiences at your restaurant, leading to more customers and sales, and in turn helping to increase profits.
Conclusion
After evaluating the 8 strategies outlined in this article, you are now better informed on how to get the most out of your Slim Chickens franchise. From offering loyalty programs to catering events, there are countless ways to increase sales and profitability for your business.
Having the right knowledge and knowledge about the industry will set you up for success. Using the strategies above will help you achieve your goals and succeed in a rapidly growing fast food industry.
With the right strategy and execution, you can be confident that your Slim Chickens franchise will bring in more profits than ever before.