EatClub allows patrons to save money on their restaurant bills when they dine during off-peak periods. Photo: EatClub.
What’s better than enjoying a delicious, chef-cooked meal at your favourite restaurant? Getting it half price!
Dining deal pioneer EatClub has finally launched in Canberra following widespread success in other major cities, offering local patrons a chance to eat out with up to 50 per cent off their bill.
The brainchild of hospitality moguls, including celebrity chef Marco Pierre White, EatClub was born to help restaurants fill empty seats and generate more revenue through dynamic pricing.
In layman’s terms, dynamic pricing makes businesses more money by matching price with demand. Every venue has quiet periods where some tables are empty, whether that be at a certain time of day or day of the week. It’s more advantageous to fill a table for 30 or 50 per cent off than it is to leave those seats unfilled.
Co-founder and CEO Pan Koutlakis says dynamic pricing has served the airline industry well for years, so applying the same principles to restaurants and bars made perfect sense.
“Most of the costs of running a restaurant, like rent, utilities and staff, are fixed, so the best way to increase profits is to better utilise capacity,” he says.
“The airline industry has similar dynamics to restaurants – an empty chair equals lost revenue. For both businesses, the key to improving profitability is essentially getting more bums on seats.
“Simply put, dynamic pricing means you save money on your bill and venues fill empty tables for a higher profit margin. It’s a win-win.”
Almost 40 local hotspots have already signed up for the program, including Grease Monkey, Braddon Merchant, Midnight Bar, The Jetty, The Dock, Banana Leaf, Taco Boi, Milky Lane and Sweet Bones. Venues can sign up to the EatClub program from $49 a month.
“For restaurants, it’s a chance to earn up to $10,000 per week in extra revenue while also building atmosphere and keeping staff active,” Pan says.
“Our interface is easy to use and gives venues the option to set up a limited number of one-off discounts or plan a discounted period ahead of time based on when they expect to be quiet.”
Diners happy to attend the venue during quiet periods are rewarded with significant discounts on their total bill, inclusive of food and drink, with no strings attached. Image: EatClub.
The venue doesn’t even have to know which patrons are using EatClub – discounts are automatically applied to payments through the app’s digital wallet, which is activated when the first dine-in offer is redeemed.
“Given the cost of living crisis that only continues to rise, eating out is a little luxury many people have been unable to afford,” Pan says.
“EatClub means Canberrans can continue to enjoy dining in their favourite restaurants and bars more often, without breaking the bank.”
Jump online to explore almost 40 venues in Canberra who have jumped on the EatClub train.
Original Article published by Morgan Kenyon on Riotact.
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