How bars, restaurants and clubs can make additional revenue with technology

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Image Source: FreeImages

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New technology has given owners of bars, restaurants and clubs more ways to make money. Digital menu boards can drive up sales with dynamic pricing. Self-ordering kiosks reduce labor costs. And virtual reality experiences create new ways to charge customers for drinks and snacks. With the right mix of tech tools, businesses in the food and beverage industry have a variety of new revenue streams waiting to be tapped. Here’s a look at how:

Dynamic Menu Boards

A dynamic menu board is a digital menu board that automatically changes based on what’s available. The system uses sensors and computer algorithms to track items as they are purchased, then keeps the menu updated to reflect this. That way, each customer sees the items that are actually available in real time. In addition to keeping menus current, dynamic menu boards can also track sales and help forecast inventory needs. A dynamic menu board can come in the form of a digital menu table or wall-mounted menu. A table-mounted menu can be easily installed over an existing table using a bracket or a special table leg. A wall-mounted menu can be designed to blend into the existing decor of a restaurant.

Self-Ordering Kiosks

Self-ordering kiosks are computerized systems that let customers place orders without talking to anyone. Customers select their food and drinks from a touchscreen or computerized menu board, then pick a payment option. Pricing and payment systems are integrated into the kiosk, allowing customers to pay with credit or debit cards or even their mobile wallets. Self-ordering kiosks can be used in a number of ways. A restaurant chain can install them in each location to replace the order menu on the table. A bar or nightclub can offer the system for patrons to order drinks. A food court or concession stand can use the system to take orders from customers who’ve already made their selections.

Virtual Reality Experiences

VR is a technology that has taken off in many industries, including food and drink. VR systems can transport patrons to a new environment—like a tropical beach or a desert oasis—complete with sights, sounds, scents and even tastes. The experience can be as simple as a 360-degree video, or it can be a fully interactive experience where the viewer can explore the virtual environment. To offer virtual reality experiences, some bars and restaurants have installed special VR rooms. Patrons pay a fee to go into the VR room, where they use VR headsets to explore the virtual environment. The business can charge a fee for each VR experience, or charge hourly rates for the room.

Restaurant Apps

Restaurant apps let customers place orders from their smartphones. Customers can select menu items, add special requests, place and pay for orders, and leave reviews. Restaurants can use these apps to extend their menus, letting customers order from anywhere. Plus, the apps give customers another way to pay for their orders—by linking to their credit or debit cards. These apps can be downloaded for free by customers who want to place orders from their phones. If a restaurant doesn’t have an app, customers can still place orders from their smartphones. Delivery apps like DoorDash and GrubHub, as well as online food ordering sites like Yelp, allow customers to order from any restaurant nearby.

Food Delivery Services

Food delivery services allow restaurants to extend their reach by delivering cuisine to customers at home or work. These apps can be used by customers who want to order food without leaving the couch or without talking to anyone on the phone. For restaurants, food delivery services can generate extra revenue. And with online ordering, there’s no need to keep an extra staff member on hand to answer the phone. Organize a food delivery service with a few existing partners or find a new company to work with. Then, offer the delivery service through your website, food menu, or social media channels.

Conclusion

Bars, restaurants and clubs that invest in the right technology can tap into new revenue sources. Dynamic menu boards help keep menus up to date, letting customers see what’s fresh and available. Self-ordering kiosks let customers place orders from their phones, with integrated payment options. VR experiences let customers step into virtual worlds, complete with sights, sounds, scents and tastes. Restaurant apps let customers order from anywhere, with payment options. Food delivery services let restaurants reach customers at home or work, generating extra revenue.

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