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
Wine lockers are found at some of the finest restaurants and clubs across the country and around the world. Why? Lockers are an undeniably engaging addition to your atmosphere and improve your bottom line. Customers are drawn to destinations where they feel at home and special or important. By having a private wine locker, patrons feel more invested in your establishment and it gives them yet another reason to visit frequently. They may be proud of their private wine locker and want to share it with friends and colleagues. For you, that means they're more loyal and helping to attract future loyal clientele.
Benefits of Having Wine Lockers
Increase Client Base & Loyalty
You're in the business of selling food and wine. You strive to create an excellent atmosphere while increasing sales and enhancing customer experience. By offering a private wine locker program, you are achieving all of these goals. Beyond the income from rental fees, there are many other factors to consider. The true oenophile with a wine locker full of their personal, favorite wines is more loyal and will return often, many times with family, friends, and colleagues, potentially increasing your client base.
Increase Locker & Wine Revenue
Many private locker programs offer special discounts and rare, 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 around 10-15% annually. People hold on to what they like and share that satisfaction with those around them.
Offer Sommelier Services
Often a wine locker program includes sommelier service to assist members in wine selection – a great service for those patrons looking to expand their wine horizon or are too busy to do the research themselves – another way to increase client loyalty.
Consider Your Wine Lovers, Reap the Rewards!
Private wine locker investments can be approached in a number of ways. Morton's Steakhouse, a top restaurant chain, offer private wine lockers without a rental fee, but this isn't out of charity. They understand the value it brings to their clients and in return, the benefits they reap. Some restaurants with wine lockers may have higher or lower rental fees with the condition that locker holders are required to purchase a certain number of bottles off their 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 a sound investment. Wine lockers can be customized to fit any space, style and budget. Contact our sales team for a free wine locker design or to learn more.Request Your FREE Wine Locker Design Today!
Wine Lockers Return on Investment
Increased Visits = 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 $750 for refrigerated lockers. The revenue from rental fees alone typically pays for the initial investment within the first year.
Increase Your Annual Revenue
After the first year, depending upon how many wine lockers you have, you could increase your annual revenue by $7,200 for a 12-unit non-conditioned locker to $40,000 for a 60-unit conditioned wine locker.
Non-Refrigerated Lockers ROI
|Avg. Annual Fee||$600||$600||$600||$600||$600||$600|
|Payback 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|
|Payback 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