SAN ANTONIO –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.
Thurman Love, owner of the 265-seat restaurant, began offering the surprise bailouts in September as federal lawmakers were considering the $700 billion Troubled Assets Relief Program that would pass in October. Love and his managers at the restaurant, which is celebrating its 20th anniversary this year, choose one table of guests each lunch and dinner shift to receive the so-called bailouts, a free meal, excluding alcohol and gratuity. –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.
“Instead of a check,” Love explained, “we present a small certificate reading: ‘You have been BAILED OUT. We are buying your meal today! All we ask is that you tell your friends and neighbors about our family-owned restaurant. Please tip your server.’” –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.
Love said the bailout program costs him about $1,500 a week in comped food as well as a negligible cost for the heavy card stock on which the message is printed. The good will generated by the promotion, however, has been immense. –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.
“We’re seeing it pay off,” he said. “It’s more measurable than a direct-marketing program. We’re seeing about 20 percent of people coming in and telling us they’d heard about the program from their friends.” –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.
Love said the current economic crisis prompted him to start the bailout promotion. –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.
“I’ve survived other recessions,” he said, “but this one looks to be something else. You have to be sharper and more aware in this type of environment. You have to do things a little smarter. We’re definitely seeking guests looking for value and looking for things to drive their pocketbook. Our interest is in how to drive traffic.” –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.
He said the lucky guests could be first-timers or someone who has eaten at Water Street four times a week for some time. –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.
“We’re trying to capitalize on the fact that a lot of people are feeling down,” Love said, “and this cheers them up, and they tell their friends.” –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.
He plans to continue the program at least through the first quarter of 2009. Love said the staff has “bailed out” checks as high as $30 a person and as low as $7 per person. Water Street’s average per-person lunch check is $15 and the average dinner check is $25. –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.
A side benefit, Love found, is that those being bailed out leave bigger tips. –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.
“It’s great for the waiters,” he said. “They are thrilled. Guests aren’t expecting it and don’t get advanced warning, so instead of presenting a check we present the card. They’ll usually chuckle and usually leave a 40-percent tip instead of a 15-percent tip. They are just so surprised.” –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.
It has other sales advantages, Love added: “I bailed one guy out on a Sunday night, and he bought $1,000 in gift certificates. I thought, ‘Boy, I picked the right guy here!’” –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.
The secret, Love said, is to assure that the bailouts go to guests who are already content. –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.
“We don’t want to do it with someone who has experienced food or service issues during the meal,” he said. “If someone has a problem, we’ll handle that like a normal complaint. We take care of that on its own merit. We don’t want them to think they are getting bailed out because of some problem.” –Given Washington’s billion-dollar beneficence toward Wall Street, the owner of the Water Street Oyster Bar here is bestowing his own “In-House Bailouts” on guests and watching traffic increase because of them.