4 restaurant revenue-generating ideas to boost business

The guest experience is no longer confined to in-person dining. It expands to encompass a variety of activities and interactions outside of service.

In this quick guide, we’ll break down 4 new income streams for restaurants and explore how they improve the customer experience and boost your business.

Top 4 alternative revenue streams for restaurants and bars

1. Takeaway
2. Events with prepaid tickets 
3. Restaurant merchandise 
4. Gift cards

1. Add takeaway to the menu

In today’s post-pandemic, on-demand world, it’s easy to understand why takeaway continues to be an income stream for restaurants. The worldwide takeout market is set to pass €85 million by 2024, and the number of Europeans enjoying takeout will reach 96.9 million in the same year. 

From DIY meals you finish at home, to full-on menus, step up your takeaway business by thinking about the most popular items at your restaurant and making those available for online ordering. 

If you’re just starting with takeaway, start slowly – choose a few customer favourites and test the waters. 

Once you see the demand, turn your takeaway revenue stream into a rushing river. 

Don’t forget to use a restaurant management system that can handle online ordering and takeaway. We’re not talking about third-party integrations or apps because most people (77%) prefer to use a restaurant’s own website to order takeaway. 

2. Host unique events with prepaid tickets

The events industry will be worth 1,958 billion Euros by 2028. 

Whether you operate a fine-dining restaurant, bar or winery, not developing events and programs that tap into people’s desire for them is like leaving money on the table. Who would willingly do that? 

Not only do restaurant events give you access to a new revenue stream, but they also increase awareness of your brand. 

With prepaid tickets, you’ll secure money upfront and be able to prepare in advance for any dietary requirements, allergies, or special requests.  

Your next event can be as over-the-top or as simple as you want. Explore 30 of the best bar and restaurant event ideas here.

3. Set up a webshop with your restaurant merchandise

From hip, cool bars to upscale dining experiences, restaurant merchandise is one of the best alternative revenue streams a business can create. 

When it comes to merchandise, sell products that your guests already associate with your restaurant. Treat your webshop and merchandise like an extension of your brand – an extra layer of the guest experience, not a quick add-on to make money. 

Don’t forget to choose a platform like Superb’s GXM Pro that can help you set up your webshop and start selling from day one. 

Not sure what to sell? Find out how to choose the best products in our beginner’s guide.

4. Offer digital gift cards directly from your site

When we talk about gift cards, we’re referring to digital ones – they’re convenient, easy to give and even easier to redeem. 

While old fashioned plastic gift cards are great, they’re inefficient when it comes to managing and tracking gift card sales (a must for any additional income stream you bring to your restaurant). 

When creating paper gift cards or gift receipts, you have to enter a guest’s details manually. This leads to the risk of mistakes. With a software-based gift card – like we offer at Superb – the entire process is automatic. Customers can purchase gift cards online without personally visiting your restaurant or bar – or actually handing the gift card over to the recipient. 

Whether you have a new restaurant or an established brand, here are our top 10 ways to sell more restaurant gift cards. 

How to introduce new income streams to your restaurant or bar 

Successful restaurants are taking things far beyond hoping that they’ll be better prepared for the next pandemic. They’re developing merchandise, looking for creative event ideas, adopting contactless tech solutions, and levelling-up everything they do to attract more guests. 

With Superb’s all-in-one Guest Experience Management platform, you have the freedom and constant support to create and try new revenue streams. If one idea doesn’t work, adjust it until it does.

Don’t let perfectionism get in the way of serving your guests in new ways… and helping secure your restaurant’s bottom line. 

Chat with one of our product experts to see how our all-in-one GXM platform can help you design the best alternative revenue stream.