Concessions: Looking to Increase Profits?

By Katie Moore

T
here are many ways to increase your profits, but one of the best ways is by adding new menu items. The new menu items can be a variation of a current item, an additive for a current item or, of course, a completely new item.

Creative Twists

One way of increasing your profit is to add a new element to a current selection at a low cost. This avenue may not reap as large of a profit increase as adding a whole new item, but you'll definitely see a boost. These kinds of additions would be like adding flavors for your popcorn or sour flavors to your snow cones.

An example of adding flavors to popcorn is savory shakers. Now people can decide if they want regular popcorn, barbeque popcorn, cheddar popcorn, etc. There are a large variety of savory mixes available. The best part of this addition is that they are inexpensive, yet you can charge more for the added flavor bonus. There are many ways to package the tasty flavors, as well. You can add them yourself when you make the popcorn, or you can sell them pre-packaged so the customer can add them. Either way, you will be able to control the amount used and the costs.

Another excellent way to increase your profits is to add new options to your snow cone flavors. There are dozens of varieties of ready-to-use and concentrated flavor syrups from which to choose, with more being introduced all the time. You can easily double your inventory by adding new sour flavors, which are available as a liquid additive for beverages to make a nice sour flavor. This product will enable you to offer, for example, cherry flavor in addition to sour cherry flavor. This is an extremely good way to add some excitement to your menu and increase profits in a cost-effective way. If you want to go for an even higher-perceived-value product, add a slice of fruit or offer a flavor rainbow combination.

These items are just two of many that can be added, inexpensively, to your menu to help increase profits. You can get creative on your own by taking a look at each product you have on your menu and evaluating how to enhance it.

Something New

You can also increase your profits by adding new products to your menu. These kinds of products would complement the other menu items you have. For example, if you already offer nachos and cheese, why not add pretzels to your menu? This is a whole new item, yet it uses the cheese from the nachos so it is more cost-effective.

There is a new pretzel available that requires no refrigeration. The consistency will always be the same because it has never been frozen—say goodbye to cold middles. They come in salted, unsalted and cinnamon-and-sugar flavors. Because they come pre-packaged, no additional preparation is required, making them a simple menu addition.

Another great product to add to your menu is smoothies. There are endless possibilities with this item. It is always good to add items that allow you to offer a variety of flavors. Plus, adding the flavors is pretty inexpensive, but makes your menu look full and alive. Smoothies are quick to make and refreshing. Fruit smoothies made from real fruit are extremely good for you and can attract the "health nuts" who normally would not purchase anything from a concession stand. This product will definitely help build your profits and attract more people.

Promotion Counts

Expanding your concession stand to increase your profits is simple. Now you know you can spruce up your menu affordably. Whether you amplify your menu with creative twists on current products or add completely new items, you should increase your profits.

The ideas offered here are just a start as to what you can add to your concession stand. But remember, the most important thing when deciding what to add is looking at your market. You do not want to add a new product line if it will not interest current or potential customers.

Another important thing to remember is to promote the new product line, even if it is just by putting signs up, handing out flyers or giving away free samples. People have to know that you are offering something new in order to buy it. After picking the actual product you are adding, promoting is the most important thing to do! With good promotion, the product should sell itself.



ABOUT THE AUTHOR

Katie Moore is marketing coordinator for Gold Medal Products. Serving the fun food industry for more than 70 years, Gold Medal can accommodate virtually any food and concession need, with over 80 popcorn popper models, as well as a versatile selection of cotton candy machines, snow-cone machines and much more. For more information, visit www.gmpopcorn.com.




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