ESSENTIAL BUSINESS STRATEGIES FOR SUCCESSFUL SME RESTAURANTS AND BARS IN BANGKOK THAT EARN MOST REVENUES FROM THE LIQUOR SALES

Abstract

Bangkok, the capital city of Thailand, has been ranked as one of the best nightlife destinations by reliable tourism sources. However, there are highly competitive in the restaurants and bars industry, especially SME businesses that have limited resources. The objective of this paper is to deeper understand the significant business strategies for the successful SME restaurants and bars in Bangkok that earn most revenue from liquor sales and can survive during the COVID-19 pandemic which will help increase the likelihood of success for the business owner. The outcomes of this paper provide essential strategies for SME restaurants and bars to embrace the competitors which are 1) Maintaining Strong Brand Identity, 2) Creating A Comfortable Environment and Community, 3) Conducting Event Marketing, 4) Cutting Unnecessary Expenses, and 5) Making Employees Feel Valued and Appreciated. These can help business owners, stakeholders, and decision-makers improve the crucial traits of SME restaurants and bars to become successful businesses in the future.