Wine Locker ROI
Why Wine Lockers?
Create an Environment for Loyal Patrons
High end restaurants and private clubs understand that just having great food, an expansive wine selection and ambiance is not enough to draw in [and keep] patrons coming. Top restaurants serve more than mouth-watering dishes in beautiful environments, they deliver an energy and a mood that people are simply drawn to.
Enhance Your Atmosphere and Increase Your Bottom Line
Adding cache, wine lockers are showing up at some of the finest restaurants and clubs across the country and around the world. Why? Lockers have an undeniable way of adding to the atmosphere and they can increase your bottom line. Customers are drawn to dine where they not only feel at home but important as well. By having their own private wine locker they feel more invested in your establishment giving them another reason to be frequent visitors. Their private wine locker is something they are proud of and they often show off to friends and colleagues. For you, that means loyalty and the attraction of future loyal clientele.
Benefits of Having Wine Lockers
Increase Client Base & Loyalty
You're in the business of selling food, wine and creating an excellent dining experience and not necessarily managing wine lockers. However keep in mind that by offering a private wine locker program helps you to do those very things extraordinarily well. Beyond the income derived from the rental fee you can charge to patrons, there are many other factors to consider. The true oenophile with a wine locker full of their personal, favorite wines will be more loyal and return often, many times with family, friends, and colleagues, potentially increasing your client base.
Increase Locker & Wine Revenue
Also, many private locker programs offer special discounts on wines and offer rare and hard to find wines to their locker clientele, increasing overall wine revenue. Top restauranteurs report that typically there is a waiting list for their wine lockers and a very low locker rental turnover of just around 10-15% annually. People hold on to what they like and they also like to share that same thing with those around them.
Offer Sommelier Services
Often times a wine locker program will include sommelier service to assist members in wine selection - a great service for those looking to expand their wine horizon or for those patrons too busy to do the research themselves – another way to increase client loyalty.
Consider Your Wine Lovers and You will Reap the Rewards
Consider too that private wine lockers may be approached in a number of ways. Morton's Steakhouse, one of the top restaurant chains, offer private wine lockers without a rental fee, however this isn't out of charity. They understand the value it brings to their clients and in return, the benefits they reap from this. Some restaurants with wine lockers may have higher or lower rental fees with the caveat that locker holders are required to purchase a certain number of bottles off the restaurant's wine list every month. With bottle markups averaging in the ballpark of 200-300%, the purchasing of high end bottles can quickly yield a higher return than a large annual rental fee. Those that charge a rental fee and also require bottle purchase often give locker holders bottle discounts and first offers, giving them first pick of new wines and the prestige that comes with that luxury.
Customize Locker Size for Your Space and Clientele
Regardless of how you decide to approach wine lockers, they positively impact your customer's dining experience and are likely to prove to be a sound investment. Wine lockers can be customized to fit any space, style and budget. Contact our sales team for your free wine locker design and to learn more about wine lockers.Request Your FREE Wine Locker Design Today!
Wine Lockers Return on Investment
Increased Vists = Increased Sales
Offering wine locker rentals to your customers provides you a great deal of value as well. Clients with a private wine locker tend to visit more frequently and they also pay you a fee for the use of the locker.
One Year Payback
The average non-conditioned locker rental fee is around $600 annually and closer to $750 for refrigerated lockers. The revenue from the rental fee alone, typically pays for the initial investment of the wine lockers within the first year.
Increase Your Annual Revenue
After that and depending upon how many wine lockers you have, you could be looking at increasing your annual revenue by anywhere from $7,200 for a 12 unit non-conditioned locker up to $40,000 for a 60 unit conditioned wine locker.
Non-Refrigerated Lockers ROI
|Avg. Annual Fee||$600||$600||$600||$600||$600||$600|
|Packback in Months||8||8||8||8||8||8|
|Avg. Initial Investment||$5,000||$6,000||$10,000||$13,000||$20,000||$26,000|
* Assumes 100% Lockers Rented
Refrigerated Lockers ROI
|Avg. Annual Fee||$900||$900||$900||$900||$900||$900|
|Packback in Months||12||11||11||10||10||10|
|Avg. Initial Investment||$11,000||$14,000||$19,000||$25,000||$39,000||$50,000|
* Assumes 100% Lockers RentedDownload Locker ROI Charts