5 Ways To Maximise Fish & Chip Shop Profits
Fish & chip shops were once considered to be guaranteed to make a strong level of profit. Popular year round and with great opportunities for maximising sales, for many years they carried on without the need for diversification of menu or premises.
Recently, however, competition has increased, and the palate of the average customer has grown a little more sophisticated. So, whilst still popular, some fish & chip shops are looking for ways to maximise their profits and really make the most of every sale. Here are five ways it can be done…
As well as being good for the environment, replacing some of your regular menu choices with cheaper, sustainable types of fish can be a great way of reducing your costs and maximising your potential profits. In addition to being tasty, small changes like this can result in some great opportunities to publicise your shop and over time. You can increase the proportion of alternative fish you use, gradually developing customer awareness and acceptance.
Another extremely successful way to maximise your profits is to charge more for side dishes and accompaniments. Minor price increases for side-salads, mushy peas and rolls, as well as making charges for condiments, will all add slowly but surely to your level of income. Most customers won’t notice these little additions, and in the majority of cases, they won’t mind paying. Over time, the profit margin here can be significant.
Alongside charging more and making cost-effective replacements, it is also worth being disciplined and consistent with serving size and weight. Making sure that staff always serve the right amount in a portion and being specific about the precise use of ingredients is not only good practice but will result in some significant savings.
You can raise some extra revenue by putting platters together that encourage customers to spend more than they were originally anticipating, in pursuit of a better deal overall. This time-honoured technique is especially effective in a fish & chip shop business, as there are so many different dishes that can be combined in order to entice customers into making purchases. Consider adding additional portions and sides into a meal deal package – you might sell that portion for a little less than if you sold it on its own, but you’d make more profit than not selling it at all.
There’s nothing to stop you opening up your fish & chip shop for coffee and cakes mid-morning, either, especially if you have a seating area. That way you’ll draw in new customers as well as providing a great place for existing ones to eat and drink.
For more information about the kind of catering insurance that’s right for you, visit https://www.cateringinsurance.co.uk/fish-and-chip-shop-insurance/
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