HOTELS & HOSPITALITY
businesses have the capacity – in terms of human resource and/or space – to increase their output significantly if they had the demand.
What’s more, any business with a kitchen and staff has the facilities necessary to embrace a virtual brand. All that the existing brand must do to take on a virtual partner is conduct some staff training, source additional ingredients, and stock the branded packaging required to serve the newly available items.
That said, businesses cannot flippantly choose a virtual brand to incorporate into their operations. It is important to consider the existing demand in the local area, and the necessary ingredients and equipment that are required to produce items from the new menu. So, it is important to select a cuisine that shares core cooking methods and key ingredients as the business’ existing fare.
Take, for example, a British gastropub, which began serving takeaway food during the pandemic. While some demand for the host cuisine exists in the local area, businesses should conduct research to ascertain nearby demand for other cuisines. Using only its existing equipment, the gastropub can prepare any foods that are deep-fried, oven-cooked or pan-fried, which would enable them to prepare the majority of typical delivery food fare.
If their existing supply of core ingredients include chicken, potatoes, and rice, they would require only a few additional ingredients to offer popular Korean, Caribbean, and Central American dishes, as well as fried chicken; suddenly, the potential demand that this one restaurant can cater for has increased massively.
In this way, any hospitality business with kitchen facilities on- or offsite can take advantage of greater demand and increase their revenues accordingly. Peckwater’s own data has shown that businesses that have embraced virtual brands experienced an increase in delivery orders of 823%, and an increase in monthly cash profit of between £4,476 and £14,737.
The next step The hospitality sector will no doubt face further challenges in the coming months – whether from further iterations of Covid disruption, or from some new crisis. However, provided that they remain flexible and open to exploring new operational avenues, they increase the likelihood of their long-term survival.
Today, virtual brands appear to be one of the best tools in the arsenals of hospitality business owners – a means of increasing the business they do by simply doing more with what they have. Virtual brands can not only ringfence future profitability from disruption, but also help businesses stay abreast of fast-moving food trends while still offering their own goods. Virtual brands are an undeniable part of the industry’s future, and I hope to see business owners show the foresight and open- mindedness to embrace them.
www.peckwaterbrands.com
www.tomorrowsfm.com TOMORROW’S FM | 49
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