Today we are going to take a look at non-promotional joint ventures. This entire month we have looked at different forms of joint venture partnerships from successful examples, creative ideas, and joint venture cautions. But not all joint venture partnerships need to be promotional or marketed. There are a number of different ways you can have a joint partnership that doesn’t require marketing. We will take a look at a few today.
Sharing The Cost of Consumables
One way to benefit with a simple joint partnership is to buy consumables such as napkins, straws, plates, or to-go boxes in bulk quantity. The cost and supplies are then shared between two or more different restaurants. In this way you can get […]
While there are many great benefits from forming a successful joint venture partnership, they are not all benefit and no risk. There are also some concerns to be cautionary about. We’ll take a look at some of them today.
Angering Current Customers
First off, whenever partnering with another company you are sharing the reputation with and either directly or indirectly recommending that other company. You are saying that this company is worth me partnering with, so you should patronize them too. Your customers may already have preconceptions about that company, and if they are negative they may view your company in a more negative light for partnering with them. That is why it’s a good decision to always […]
Today we are going to talk about a few successful joint venture partnerships to take a look at how other restaurants and bars have successfully formed joint venture partnerships.
Stone Arch Brew House was looking to expand it’s external beer sales by gaining more tap placements in area bars. We worked together to create a plan that would reward bars that put on Stone Arch beer on tap.
We were approaching summer and wanted to […]
You have determined a joint venture idea, found a partner, wrote your agreement, and kicked off your partnership, now it’s time to evaluate. Evaluation is an important part of any successful business practice, but with joint venture partnerships its even more critical as it affects not only your business but your partners too. From start until completion or extension, is this partnership beneficial?
Did it begin as planned?
Ask yourself, what went well with the launch of this partnership? What can I improve on for the next partnership? Write it down while it is still fresh to avoid making the same mistakes later.
Have problems arisen?
Is your partner who you thought they were? […]
Need some joint venture partnership ideas for your restaurant? This month we have talked quite a bit about joint venture partnerships. In this article I wanted to give you a bunch of ideas about potential joint venture partnerships to get you thinking about businesses you may want to work with. I’ve included 29 examples of joint venture partnerships for restaurants. If that’s not enough, take a look back at our introductory joint venture partnerships article for a few more ideas.
- Pair with a cinema or theater to offer a dinner and a show special for a discounted price
- Partner with other restaurants on your block to host a night of bar-hopping live music
- Host a wine night featuring[…]