How To Eliminate No Shows at your Restaurant Using Large Party Deposits
Last Updated on October 29, 2024
In the restaurant industry, large party reservations can be both a blessing and a challenge. They bring in substantial revenue, but last-minute cancellations can leave empty tables and lost profits. At 88 Restaurants, we understand the importance of securing those large reservations, which is why we've introduced the Large Party Deposit feature. This tool allows restaurants to charge a deposit for large parties, ensuring that your tables are reserved with confidence, and helping to minimize last-minute no-shows.
With the large party deposit feature, you can:
Avoid Revenue Loss: Reduce the risk of large parties canceling at the last minute by requiring a non-refundable deposit.
Apply Deposits Toward Checks: Most restaurants using this feature apply the deposit to the guest’s final check, making it both a security measure for your bookings and a seamless part of the dining experience.
Customize Requirements: Choose the party size threshold, per-person deposit amount, and even add custom policies to suit your needs.
How to Enable Large Party Deposits
Step 1: Set Up Your Stripe Account
To handle deposits, your restaurant will need a Stripe account, which is the payment processor used to collect payments. Here’s how to set it up:
Head to the Tools section, click on Tickets, and open the Large Parties tab.
If you haven’t yet linked your Stripe account, you’ll see an option to do so. Just follow the on-screen instructions to create and connect your account in minutes.
Step 2: Enable Large Party Deposits
Large Party Form
Now that your Stripe account is linked, you’re ready to set up large party deposits:
Go to the Tickets page and click the Large Parties tab.
Check the box to enable the feature, and decide whether to include sales tax. Tax rates are automatically configured based on your location.
Enter the deposit details:
Party Size Threshold: Choose the minimum group size that will require a deposit. For instance, setting this to 8 means parties of 8 or more will be prompted for a deposit.
Per-Person Deposit: Set the amount to charge per guest in the party.
Custom Policy & Description: Add a short description and any deposit policy details you’d like patrons to see.
Click Save to activate your settings. If you need to disable this feature later, just uncheck the box.
How It Works: The Restaurant and Customer Experience
For Restaurants
Restaurant Perspective
Once the large party deposit is active, reservations that include a deposit will be marked on your reservations screen. Simply hover over the icon for a quick view of the ticket details, or click into the reservation for full information. This helps you and your team stay organized and prepared for your large parties.
For Customers
Customer Perspective
When booking a large party reservation, patrons will see a message if their group size meets the deposit threshold. After selecting the date, time, and party size, they’ll proceed to a payment screen where the deposit amount is clearly displayed. Upon successful payment, they receive a confirmation with their reservation and deposit details, along with an itemized email receipt.
Track Your Deposit Revenue with the Tickets Dashboard
Ticket Revenue Line Graph
Your tickets dashboard offers valuable insights into your large party deposits and reservation trends:
Revenue Trends: The dashboard displays a line graph of your ticket revenue, easily filtered by date to track monthly or seasonal changes.
Reservation Details: Below the graph, you’ll find a sortable table listing reservations, deposit amounts, party sizes, and patron contact information. You can search and filter this data by any field, making it easy to spot high-value reservations and view historical data.
This dashboard empowers you to monitor the success of the large party deposit feature, giving you the data you need to make informed decisions.
For current clients, we hope this guide helps you make the most of our new feature. For prospective customers, reach out to see how 88 Restaurants can enhance your reservation management and keep your tables full!
