Last week, after 14 years of Conservative rule, we welcomed in a new government. But what does new leadership mean for you and your business? Here’s a recap of a couple of Labour’s promises that will impact restaurants and takeaways over the next four years or more. Please note, changes take a while to come into effect, so no need to panic! We’ll make sure we keep you updated as details become clearer.
Business rates :
Labour is planning to overhaul the current business rate system, wanting to level the playing field between the high street and online giants. They say ‘This new system will level the playing field between the high street and online giants, better incentivise investment, tackle empty properties and support entrepreneurship.’ The details haven’t been announced just yet, so keep an eye out, and we’ll also update you here.
Minimum wage changes :
Labour’s also said it’s going to lower the age band for the minimum wage, getting rid of the 18-20 age band, closing the gap between what older and younger workers are paid. Again, this is going to take a while to happen – but analysts are predicting they’ll want it in place over the next year.
That’s not all…
In June, we held a client conference at the bet365 Stadium in Stoke, where Foodhub are proud sponsors of Stoke City. If you were there, you’ll have heard that business for restaurants and takeaways is booming. The market is forecast to rise to 22.4 billion (up by 400 million) and the number of takeaways is forecasted to rise from 47,961 to 49,539 (increase of approx 4%), according to Statista data*.
But all this means more competition, which is why we’ve taken every bit of insight we have to give you three key tips for increasing your orders and standing out from the crowd.
Three hot tips to drive orders :-
1. Know your customer
As you know, it’s crucial to know who your customers are, what they like to eat, and how much they’ll typically spend. All that information means you can give them a better deal on things that matter to them and keep them coming back for more. UK data shows* that the biggest spenders of takeaways in UK are aged between 30 and 49. Speak to Foodhub about how you can make use of your own data to keep customers coming back for more.
2. Keep an eye on cost
When people were asked what the main factors were when choosing a takeaway platform, ‘delivery fee’ came up top. It is challenging for businesses to keep costs down, which is why we operate a fair pricing policy to help, meaning you can pass savings onto your customers.
3. Allow flexibility
Customers also said they wanted total flexibility when it came to ordering takeaways. That means being able to order their favourite food via third party takeaway apps, in store, over the phone, or direct from a restaurant. The most popular choices were via a third-party app or over the phone. , you don’t have to choose between your customer’s satisfaction and your bottom line, you can have both. Our fair pricing policy means we’re always working on keeping prices down for restaurants and takeaways.
If you’d like to register interest to hear about our next event, where we’ll be able to give you more insights into the trends and legislation changes affecting your business, email: [email protected]
Reference: * ** Statista
