What are other items? Well, the list below shows some of the most common ones but really you are limited only by your creativity.
There is a sports bar business in my area that has a huge collection of unique beers and they sell a “round-the-world” pass that they encourage their regulars and not so regulars to sign up for whenever they come in. The deal is the customer pays $25 and then they become members of the club and get their name in a book. They get their name listed on a public board for doing things like trying beer from every continent, finishing all the beers in a country, or hitting 80 different types.
They also get a discount on the bottled brews they are buying. This is a great promotion because not only are these beers a lot higher cost (and profit) than the regular stuff on tap the customers come back in again and again to see their name on the board and add to their status. And the $25 membership fee? That is 100% profit for the owner. If you are working on starting a bar this might be something you want to try yourself.
Another option for adding other sales is when you have live entertainment and sell tickets. Even if you give most of the ticket sales to the entertainers you will still benefit from increased sales of food and drink. And while it won’t work for everyone, some businesses make a huge deal out of their merchandise sales (how many Hard Rock Cafe t-shirts have you seen?)
If you’ve got a clever name, are in a tourist destination or have some other distinguishing feature give some thought to promoting your merchandise sales. Not only does it add to your bottom line but it serves as free advertising as well.
You also don’t want to overlook vending options if you’ve got the space and it makes sense for your location. These machines can pour a surprising amount of cash in under the right circumstances.
As you work on your restaurant business plan financials you certainly want to include these revenue streams because even if they aren’t huge they still add to your bottom line and every penny counts when figuring out your sales.
If you aren’t sure what is appropriate here be conservative and use what your closest competition does as an example of what you might expect as well. You may beat them down the road or do things differently but until then you can use them as a proxy for your own results.
With the sales added up, our next step next time is going to be starting in on our start up and operating expenses, including all the biggies- food, labor, rent and equipment.