Ashiru told the News Agency of Nigeria (NAN) in Lagos that getting the right kind of clientele was a hindrance most night club owners were currently grappling with.
“With so much going on, it can be very easy for things to fall through the crack or get overlooked.
“One can be forced to go back to the drawing board after losing the battle to hold onto his portfolio of bars and nightclubs.
“Re-invention and thinking outside of the box in order to drive up falling sales is certainly the best and possibly the only way to survive in the hospitality business at the moment,’’ he said.[pro_ad_display_adzone id=”70560″]
Ashiru added that the difficulty comes not only from getting customers through the door, but maintaining profitable margins at the same time.
“There is an old saying in the club business, which I’m sure, applies to most businesses, ‘Turnover is vanity, margins are sanity’,’’ he said.
He also gave tips on how to run the nightlife industry successful and build profit margin.
“I believe that having repeat guests or regulars can help build ones profit margin because there is no incremental advertising or marketing expense to bring them in.
“Additionally, providing valuable word-of-mouth advertising. Ask customers to sign up for an email newsletter that announces special events at the nightclub.
“Send them discount coupons with each edition of the newsletter and track how many of these are redeemed.
“Set goals for the number of newsletter subscribers and the percentage that redeems the coupons.
“You can have one of the hottest venues in your city by consistently providing an exceptional guest experience,’’ he said. (NAN)