To help you kick off 2018, we’ve gathered up our 5 most popular (and useful) blog posts over the past year. Read on to get up to speed on essential industry insights that will help guide your restaurant or bar for the New Year!
#1: Structuring a Restaurant Bonus Plan for Managers
Generally speaking, restaurant groups that tie their manager bonuses directly to "inventory variance" do not have inventory or revenue losses from their bar. Conversely, many bars that do not track inventory variances and include management in the accountability of shrinkage lose 15-30% of their inventory and sales. In this article, I will show you exactly how structuring a restaurant bonus plan effectively will eliminate bar losses and provide you with a bar manager bonus plan template to get you started.
#2: 6 Steps to Solve your Hidden Hotel Beverage Cost Problem
Hotels, like all restaurants and bars that serve alcohol, have internal controls for inventory management but the truth is that because of dated tools and procedures, most hotel managers and executives have no idea how much inventory or money is lost from their beverage operations.
#3: Is Liquor Inventory Control Costing You $50,000 Profit Per Year?
Bars can lose roughly 20-25% of their inventory to free drinks, over pouring and theft unless it is managed in a very specific way. This percentage of loss is greater than in many other types of businesses.
#4: Want a Double? Learn How To Use Doubles To Drive Bar Profits
Not sure if you should promote your doubles, or encourage staff to stick with serving singles? The word in the field is that many of you are asking the same question. So, we decided to do some research, and discovered that the profitability of doubles is driven by multiple factors, which vary according to location, staff practices, time of year, bar pricing structure and customer habits.
#5: What is a good pour cost?
The fact is that there is no such thing as a “good pour cost” that every bar should shoot for. When a consultant or writer says that bars should shoot for a target of around 20%, they are spouting nonsense.
Thank you for your support and we look forward in creating some great content for you in 2018! Happy New Years!