EatClub works with thousands of restaurants across Melbourne, Sydney, Brisbane, Perth, Adelaide, the Gold Coast and the Sunshine Coast.
The EatClub app has been downloaded more than 2 million times and over 300,000 hungry customers browse the app for offers every month.
Many restaurants on EatClub can make upwards of $50,000 additional revenue every month while building atmosphere and keeping staff active.
Dynamic pricing is used in many industries to maximise profits, particularly if businesses in those industries have high fixed costs and wildly fluctuating demand, like in hospitality.
Restaurants typically run on small ‘net profit’ margins. Interestingly however, restaurants actually have strong ‘gross profit’ margins on food, averaging 70-75% in Australia. The issue many venues face is volume and underutilisation i.e. Many empty tables during the day and a kitchen running at greatly reduced capacity.
At these times of underutilisation, fixed costs (staff, utilities and rent) can outweigh your revenue generated, resulting in loss making times.
By utilising EatClub customers to dine at your venue, you create extra volume at these off-peak times. As your fixed costs are set, the cost of serving an extra customer sits only in the food cost (industry avg of 27%), so, if you offer a 25% off deal to those customers, for example, your gross profit can still be between 45 - 50% on that customer's order. This brings in revenue that you otherwise wouldn’t have had and ultimately improves your net profit margin.
With the right dynamic pricing strategy, restaurant owners can increase off-peak revenue and cover their costs/make a profit at times when they would have previously made a loss, which is economically very beneficial.
On top of the economic benefits, dynamic pricing can attract early diners to build atmosphere (which helps attract full-paying walk-in customers), or to reduce food waste - whatever strategy suits your venue.
If you signed up to EatClub today, you would be live and receiving customers in less than 48 hours.
EatClub integrates with all of the leading point of sale systems in Australia and more are always being added. Talk to your EatClub account manager about getting your POS hooked up once you are onboard.
Venues use EatClub for a variety of reasons…
Also, before you’ve even posted a deal to the EatClub marketplace, our proprietary Artificial Intelligent algorithm uses millions of data points to predict how many customers it will attract AND how much they’ll spend.
This revenue predictor makes it easy to understand the financial benefit to your bottom line of each type of deal you could post.
EatClub Bookings is a next generation online booking and table management software used by many of the top hatted, two hatted and three hatted venues across Australia.
If you are looking to attract more bookings or more effectively optimise your dining space, EatClub bookings might be for you!