Making Coffee Work Hard
We hope you’ve made your way through Lockdown 2.0 okay, and that you’re doing your best with the hand you’ve been dealt.
We wanted to touch on something that’s going to be key in the next few months:
Maximising revenue and profit, even with restrictions in place.
Coffee is one of the most profitable commodities around, and if you’re not already selling it, that should change.
But the question is: if you are already selling coffee, how can you use it to work harder for you?
Here are a few ideas:
One fantastic way of getting more out of each customer is to offer your coffee product bundled together with something else.
Whatever you think of them and their coffee, Greggs are fantastic at this – they sell thousands of cups of coffee every morning, thanks to their breakfast bundle, which compels people to spend £2.99, rather than the £1.75 they would have spent on a separate cup of coffee, or a sandwich.
The big chains have been doing this for years, with their seasonal drinks, but it’s actually incredibly easy to do it yourself.
With a simple syrup, you can create a special edition of pretty much any drink you want AND charge more for it, adding more to your bottom line as a result.
The profitability of coffee gives you a lot of wriggle room, and doing a ‘half-price refill’ offer will ensure that a lot more of your customers return to the counter to spend more money.
Yes, it won’t be the full profit you made from the first cup, but it’ll be more profit than you would have made if you hadn’t sold anything after the first.
Yep, everyone does these, but for good reason – they work really well. In order to make them effective, it needs to be really easy to do and customers need to get their rewards for loyalty fairly quickly.
The more hoops they have to jump through to get their reward, the less likely they are to do it.
You might have seen Pret making waves earlier this year when they offered unlimited coffee for a set monthly subscription.
Whether this’ll work for them remains to be seen, but we thought we’d throw it out there as an innovative way to generate ongoing revenue from coffee.
Hopefully this has got the creative juices flowing and has given you ideas on ways to increase your sales.
- Allied Drinks