The Recurring Business Model is where the revenue is predictable, stable and likely to continue in the future.
It involves less risk but maximum revenue predictability.
The Cost of Acquiring a New Customer is 5 x the Cost of Retaining an Existing Customer.
Retention of Current Customers is ONLY possible if you have a Database.
To build your Database, you need to automate a system that collects customer contact details and nurtures your list.
The Recurring Models include; Loyalty Programs, VIP Clubs, Reward Points, Subscriptions, Special Events
Members Flat Rate Discount, Exclusive Set Menus, Wine Clubs, Birthdays, Invitations to the Monthly Chef Table.
Your Most Effective Retention Strategy Is Great Food and Service.