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Why happy hours are profitable?
Seel more for less and keep them coming back
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Why are they profitable?
You might think that reducing the prices of food and drinks would lower your income, but actually, it should raise it! Even though this is a controverted practice around the world (it’s prohibited in some countries) it’s definitely a good strategy for money-making!
The science behind Happy Hours.
There’s some science behind this statement, believe us, it’s not just magic. Happy Hours generate income because they change your pricing strategy for a short period of time. This means; you stop expecting to sell a fair amount of well-priced drinks or snacks, to start aiming for a “selling more for less” strategy. This brings the people in a lot of ways if you use Happy hours correctly.
At least 80% of the alcohol-consuming public would go to a bar on “discount hours” just if you can offer them a nice deal on drinks/food. Why? Because of the price. And, after they come, they usually stay a bit longer and end up consuming regular-priced drinks or food.
Another good thing about a Happy Hour is that they also bring in new people, attracted by the smell of low prices. This is the part where things get a bit messy.
Happy Hour; the greatest double-ended knife.
You definitely have to think this through, because you can also generate losses, and throw some money away. Use this tool wisely, because Happy Hours are profitable, both in generating incomes and popularity. This is a great product to add to your marketing strategy, that will catch some eyes. There are some important tips that you should follow to not waste money;
- Offer what you have plenty of.
- Offer at a reasonable low price, not under-priced.
- Choose your “Happy Hour” hour correctly.
- Don’t lower your quality; make it the best low-priced drinks/food you can offer.
Learn with us what will make your Happy Hour the Happiest ones in town!
Cheers!
Jason Masson
22 just out of college and love to find new and interesting drinking spots. My favourite bar is the next one I visit.
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