We are very proud of the relationships we build with our partners. Fundamentally, we exist to make their lives easier and to help them forge paths to profitability and success – no easy feat in the current economic climate.
Just today the Bank of England hiked interest rates by a further 0.5%, placing more pressure on many companies with debt repayments. Meanwhile, inflation in the UK has hit 9.4%, which has a double-whammy effect of increasing business costs and curbing consumer spending power.
So, supporting partners as best we can has never been more important. But how do we do that?
- Creating new revenue streams
Most obviously, by working with existing kitchen operators to implement virtual brands, we are helping them create new revenue streams to complement their existing income, whether that is by adding delivery services for the first time, or building on their current delivery menu through a second (and even a third) brand.
Based on the data we have gathered from our existing partners to date, these businesses (takeaways, pubs, restaurants and so forth) are making an additional £12,000-£57,687 each month having taken on a virtual brand – compelling evidence that what we are doing for our partners is working.
- Making the most of their existing tools and talent
Earlier this year, Peckwater commissioned an independent survey of 250 UK hospitality businesses. We found that the vast majority (66%) have the capacity to increase their output significantly, if only they had the demand.
It is, no doubt, a story that will resonate with many takeaways and restaurants. Trained chefs are stood in well-equipped kitchens that have ingredients just waiting to be turned into delicious meals. But getting customers through the door (literal or virtual) is the missing piece.
As noted above, adding a virtual brand to an existing offering is a great way of bringing in more customers. Crucially, we align the specific virtual brand that is implemented with a kitchen’s existing setup – the equipment and main ingredients being used. This means the transition is painless.
- Understanding local markets
Improving customer demand can only be achieved if you understand what customers are searching for on food delivery platforms.
Not meaning to brag, but at Peckwater, we’re experts in takeaways. We monitor the latest food trends on a granular level – that is how we create our virtual brands in the first place.
We also analyse data from the major delivery platforms like Deliveroo and Uber Eats. This lets us see what cuisines and products are getting the most orders. Moreover, it means that when working with a new or existing partner, we can see exactly where the gaps are in their local market. There is no point in launching a new Korean fried chicken brand if there is already one around the corner – we spot the opportunities on behalf of our partners, giving them the best chance of succeeding with their new virtual brand.
- Streamlining the technology involved
Offering takeaway services through multiple platforms can get very confusing for kitchen operators.
Instead, to help our partners embrace virtual brands without all the headaches, we keep things simple – we let the restaurants run the kitchen, and we do everything else. As outlined above, we use data to analyse order volume and demand in a client’s local area, and then determine the best brand to launch.
Once the onboarding process is complete, we use performance dashboards to monitor key metrics that ensure our clients are receiving the maximum available benefit.
And importantly, rather than receiving orders through multiple applications (or even multiple devices), our partners can manage all their orders through a single platform that simplifies the multi-brand approach and saves time.
- Taking care of the supplies
Many kitchens’ supply chains have become more complicated and expensive as a result of the pandemic and ensuring cost-of-living crisis. Delays in receiving ingredients and paying much more for them is a pain that most will have experienced. We help tackle these issues.
We have our own suppliers that partners can use. As part of the Peckwater family, they can benefit from economies of scale not usually available to them, not to mention the chance to work with reliable, leading names in the food industry.
But it’s not just about ingredients. We provide high-quality, branded packaging for their virtual brands – one less thing to worry about and another area for potential cost savings.
Ultimately, we can only succeed if our partners do, so their long-term prosperity is always our priority.
It’s not just a matter of helping them set up one our virtual brands and then stepping back. We provide ongoing counsel and support to partners, helping them navigate the takeaway landscape.
From cost savings to income generation, market insights to supply chain improvements, the Peckwater proposition is as comprehensive as it is valuable in the current climate. Want to find out more, get in touch with a friendly member of our team – just hit the ‘Book a Call’ button in the top right corner of our website, or use our live chat function!
Topics from this blog: Hospitality Virtual Brands
