How to increase sales revenue in the canteen?

In today's Business lesson, Chris has given us a task that we have to find out how to increase sales revenue in the canteen? We all did some market research in the canteen which we have taken a long time for get knowing what's going on... But finally we came out with some solutions that are actually sounds pretty cogent to me.

First of all, what makes revenue? Price x Volume. We've been asked for 10 ways of how to increase the revenue, but we actually came up with about 15.

• Promotion: BOGOF
• More vending machines (move them to a more obvious place. Eg. near the TV)
• Increase different types of food choices (International)
• Soup of the day (offer different flavours such as sweet, chilly...etc)
• Reduce the price of tea and coffee
• Variety of teas (Green tea)
• More menus being post (constantly showing such as put it into the school newspaper)
• Complements (Lunch+drinks for price combination)
• Happy hour (Off-peak-->Half price)
• Go out of the market
• Sells advertising spaces (Advertisement from the outside)
• More notice boards
• 24-hour BBC news
• Selling SIM cards (International maybe?)
• Top-up service

As you can see there are 2 statements are in bold, those 2 are my favourite ways which I think it's a really good idea to get more and more people's attention to buy things in the canteen, not just sit there and dont consume at all! Then what's the canteen for?

Soup of the day it's really suitable for the weather in the UK now! When people come into the canteen and see a big tank of soup, they would probably want to buy it because it'll keep them feel nice and warm! I think this is pretty profitable.

Also to reduce the price in tea and coffee is a way for encouraging people to buy a cup of tea or coffee when sitting in the canteen while they're studying or just having a chat. Even if the price are only 10p or 15p, but people would buy it for the low price and more and more people would do, so that makes a pretty good profit after all!

There are so many ways that we can improve our market and it is important not to forget to do the market research! In fact, most people would still buy things in the canteen if the price goes up and that makes the market inelastic, which I think the suppliers really should think of more other ways of how to offer better deal for the consumers.