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Biz Tips: Build Subscriptions
Podcast |
Holy Guacamole!
Publisher |
Martha Lucius
Media Type |
audio
Categories Via RSS |
Business
Investing
Management
Publication Date |
Jun 11, 2021
Episode Duration |
00:08:11

Holy Guacamole is a free podcast. We would love for you to subscribe, download and/or review the show. 

Biz Tips are super brief episodes. The goal iss to improve your finances, or your systems for independent restaurants. 

If you are a fan of local restaurants, cafes and foodtrucks

This episode in about finding one streams of income for your business: subscriptions. Martha Lucius encourages owners to look at their business and find five to seven streams of income. Here are a few examples of streams of income:

--dine in (obviously)

--carryout (how can you keep that a steady stream of income post pandemic

--catering (whether this is office catering, fine dining service and food, or platters of food for a bridal shower, this can improve your business). 

--popups, and collaborations (maybe on-site or off-site, but another concrete source of funds)

--Bottle Shop (if your liquor license permits, then find a way to build social media and messaging to improve sales ...great profit in this one)

--Subscriptions (this can be an ongoing, quarterly and seasonal revenue stream, a monthly special 3 - 5 course meal with a chef/speaker, a wine dinner, a beer dinner, an online cooking class, a monthly in-person cooking class).

The stats on the growth of subscriptions are impressive. Right now the subscription industry accounts for $650 billion in todays US economy. It's expected to increase to $1.5 trillion by 2025!

Enjoy the show.

 

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