New Year, New Store: Maximizing Your Profits in 2024

by | Jan 10, 2024 | Marketing & Promotions, Operations, Sales

The start of a new year presents opportunities to evaluate your previous performance and improve your business for the upcoming year. It is the ideal time to create a fresh business strategy, make essential modifications to boost sales, and attract new customers. Let’s review some aspects of your business to optimize in 2024: 

1. Accounting Processes

Regularly review your accounting practices to ensure that you are managing your finances efficiently. Begin by analyzing your financial statements from the previous year to identify areas where you can potentially reduce costs or increase profits. This might involve looking at your expenses and identifying areas of waste to focus on sales and revenue. By taking a thorough approach to financial management, you can make informed decisions and allocate your resources effectively. 

2. Inventory Management

Inventory management can be daunting, especially when working with narrow profit margins. Prioritizing inventory management is crucial to prevent costly errors and ensure your store always has the required inventory. Ensure you order the appropriate mix of products and quantities to avoid overstocking or understocking. Additionally, monitor sales trends to anticipate customer demand and stay competitive. 

Hunt Brothers® Pizza partners can track customer purchases with complimentary Build To and Sales & Waste charts available on the Pizza Portal. 

Your TBHC Delivers® Account Manager (AM) will help you with weekly inventory checks and generate orders based on previous sales to ensure your inventory is well-stocked. Maximize profits and avoid errors by checking in with your AM weekly and following their guidance. 

3. Promotional Signage

Your store’s signage is essential in attracting customers and promoting your products. Evaluate how you use promotional signage – where it is placed and where it can make the most impact.  Use point-of-purchase (POP) marketing to showcase your products and promotions throughout your store. Your Account Manager can guide you on the most effective ways to use Hunt Brothers Pizza signage. 

Check out our eBook for more tips on advertising your promotions in the four POP Marketing zones created by Hunt Brothers Pizza.

4. Customer Service

Providing excellent customer service is a crucial aspect of running a successful business. Using phone scripts during customer conversations is one way to guarantee that your staff delivers the best possible service. These scripts can help tailor recommendations to meet each customer’s specific needs and preferences while suggesting other items they may be interested in. It is also recommended to use order pads to ask questions and ensure order accuracy, which keeps customers happy. It’s crucial to optimize the hours and days of the week efficiently to avoid losing sales during peak hours and cater to all dayparts. 

Download our free guide for tips and strategies to maximize profits and cover all dayparts like a pro! 

5. Marketing Strategies

Marketing is necessary for any C-store foodservice grab-and-go program. To increase your store’s visibility and attract more customers, implement Local Store Marketing (LSM) tactics. LSM effectively promotes your store’s products to the local community by creating campaigns and promotions to build customer trust and familiarity and encourage repeat business. Successful LSM tactics include: 

  • Hosting local events. 
  • Partnering with other businesses in the area. 
  • Implementing a repeat rewards program. 
  • Distributing flyers. 
  • Using call-ahead ordering cards.  

Social media is an effective marketing tool to help you engage with your customers. By establishing a strong social media presence, you can inform your customers about your latest offers and promotions and create a community of loyal customers who are more likely to recommend your business to others. 

For more on LSM strategies, visit our blog, “Increase Your Profits with Local Store Marketing.” 

6. Operational Processes

It is crucial to adhere to strict safety measures that ensure food quality to provide customers with high-quality food products. It is critical to review your daily and weekly operations and implement hygiene and food safety guidelines provided by the health department. Additionally, staff must receive regular training on proper handling procedures to comply with all food and safety standards. Adhering to these standards and best practices can enhance customer satisfaction and increase sales. 

Reviewing your ordering process can help identify and improve gaps in the system. Providing your staff with the necessary resources and additional training, if necessary, can help maintain consistent quality and service. 

Ready to improve your Pizza Shoppe’s operations? Check out our daily and weekly operational tips for success now! 

This time of year is ideal for ensuring you have a solid understanding of several crucial areas, including accounting, inventory management, customer service, marketing strategies, and operational techniques. Mastering these aspects of your business can help you take your store to the next level, exceed your customers’ expectations, and achieve your 2024 business goals! 

TBHC Delivers®

TBHC Delivers is the largest distributor of Hunt Brothers Pizza; we are our own business and brand. We own our trucks and follow, believe and deliver on all Hunt Brothers Pizza’s visions. TBHC Delivers builds upon the high-quality product of Hunt Brothers Pizza with value-add customer service like our 15-Point Promise.