One of Brisbane’s top fish and chips venues has lured customers from as far away as the Gold Coast since it began accepting cryptocurrency Qoin as payment.
Georges Grill Seafood & Burgers has earned a solid reputation for dine-in and takeaway seafood and gourmet burgers over the past 30 years.
The Loganholme business ranked number 5 in The Courier Mail and U on Sunday Top 10 restaurants for Brisbane’s Best Fish and Chips in 2018 and 2019.
COVID-19 creates opportunity
While many in the hospitality sector floundered during COVID-19 lockdowns, Georges Grill owner George Tselepis maintained a strong social media presence and focused on building the takeaway service.
The strategy proved successful in keeping afloat and boosting income.
“Trade slowed down initially in the sit down section but later on our takeaway section picked up and it was a better year than the previous year,” he says.
Qoin opens the door to new customers
In an effort to reel in more customers and add another income stream, George registered as a merchant with digital currency Qoin, believing “if you’re not moving with the times… you’ll be left behind”.
In mid-December 2020, he purchased $5,000 in Qoin. The stake has already increased in value, and about 5 to 10% of the restaurant transactions are now conducted in Qoin.
Joining the Qoin network has provided numerous benefits, including building his customer base with Qoin users.
“We advertised a lot more this year and there was an increase in sales and that coincided with us introducing Qoin into the shop as well. It was definitely a good move,” George said.
“We joined quite a few of the Qoin-related Facebook pages, and we’ve gone ahead and promoted our business on there, as well as the Qoin Directory that’s attached to our wallet.
“More people are finding out about us, so it can only be a positive move.”
Qoin frees up cashflow
The Qoin network also provides a source of local suppliers that accept the digital currency. George now purchases fruit and vegetables through another Qoin merchant, Fussy Fruit. He is also considering using shopfitters from the Qoin directory to carry out renovations in the future.
Buying supplies and paying for services using digital currency accumulated through the business has freed up cashflow that can be used for other purposes.
“Qoin is also increasing in value at the same time, so that’s wonderful. Prospectively now, for a longer term hold, it’s looking quite appealing,” George says.