Increase Your Profitability With Expert Food Packaging Suppliers
It doesn’t matter if you’re a mobile catering service, an independent food retailer, a small coffee company or operate a chain of restaurants, profitability is key. If you aren’t making money then it won’t be long until your business goes under, leaving you with nothing. This is why it is vital that you make sure that every penny is doing its damnedest to work well for you.
Need some inspiration for more ways to increase your business’s turnover? Here are some ideas that you may not have thought of:
#1 Adjust your prices
Obvious right? Increase your prices and profit goes up, but won’t higher prices mean that you’ll lose customers? No.
If you adjust your prices by around 3% you’ll see a significant increase in profits, while the average customer will hardly notice the difference – it’s pennies for them, but potentially thousands for you.
#2 Cut your supplier costs
Have you got the best deal with your suppliers? Finding good food packaging suppliers or manufacturers can be hard and getting top quality products for low prices is also difficult. But take your time to find out who produces the best products at the best prices and you’ll be golden.
#3 Expand your menu
Is one of the items you have the best seller by far? Why not try and create several different variations of this product and expand your menu? It’s likely that you already have the majority of the items you require, making it very cost effective. Even offering a greater range of sizes can see your profits rise!
#4 Invest in better quality product
In the food industry, people will always pay more for greater quality. While this is a case of spending money to make more money, quality doesn’t always have to be expensive. Look around for the best sources with reasonable prices and you may find that there is hardly any difference when compared to what you were previously paying.
#5 Increase visual appeal
If you sell foodstuffs or operate a takeaway business, then packaging appeal can play a huge part in increasing sales and making sure people remember you. For example, using custom printed block bottom paper bags to package your coffee/ tea/ sweets/ etc. can give it a prestigious feel making it much more appealing to your customers.
#6 Market yourself
Many new businesses don’t realise just how much difference marketing can make, which is why there is often very little or even no budget for it. This doesn’t have to be anything big or flashy you simply need to get your name out there as much as possible – even printed carrier bags can help market your business.
#7 Offer Special Discounts
Do you have seasonal products or need to shift stock relatively quickly? Offering these products at a discounted rate can ensure that you still break even or make a small profit on items that would otherwise return a loss. People love the idea of a bargain, so discounts are a great way to pull in customers you may have otherwise missed out on.
#8 Reward loyal customers
This may not be something that every small food business can offer, but it is a great way to keep the customers rolling in. Offering a points system, based on spending or visits, can give you a regular income and a reliable customer base as well as encouraging more customers to return. While this can dip into your profits for that visit, you more than make up for it during their other visits.
We have a wealth of experience working with a range of businesses to provide them with the best quality food packaging, from block bottom paper bags to greaseproof sheets, at the best prices. If you’re trying to make your business more profitable then give us a message and find out if Charlotte Packaging can offer you a better quote today.