With a few pricing adjustments, and a slight shift in pricing strategy, most bars and restaurants could add significant profits without selling more drinks.
The good news is that there are immediate action items you can take to improve profits in your bar operation. The key is moving from an overly simplistic pricing model to a more strategic pricing model.
Read this ebook to discover some of the ways you can increase your sales and profits without having to build new business through advertising, renovations, promotions or discounts. Read more
The weather is beautiful. The evenings are longer and people want to soak it all in while it lasts. For bars and restaurants with a patio, that means a significant increase in business that may require some adjustments. If you haven't set up a strategy for managing the summer crowds, it is time to get your patio ready for summer. In honor of the first official day of summer, here are some tips and tricks to get the most out of this busy season and meet staffing demands.
For bars and restaurants, the importance of establishing inventory management procedures can't be overstated. If you aren't keeping accurate records of what you are selling, then it is virtually impossible to identify problems and make improvements. Without a plan in place, you are blindly running a business and simply hoping for the best. Instead of taking the "by the seat of your pants approach," use these inventory management best practices tips to add a little organization to your bar or restaurant while also increasing profits.
Happy hour can be both a fun time for customers to let loose after work and take advantage of some drink deals and a lucrative window for your bar or restaurant to make some extra money and build a reputation. It doesn't take a lot of effort to transform what can be a quiet time of the day into one of your busiest. With a little planning, your location can become an after-work destination that helps people relax after a long day. Here are just a few things you can do to create a more compelling happy hour experience:
You post on social media. You run a great loyalty program. And you’ve mastered email marketing. Still not seeing the foot traffic you want? It’s time to deploy your bar or restaurant’s secret weapon: in-venue entertainment with an interactive, super-social twist.
With the start of the brand new year just behind us, it's not too late to think about resolutions on how you want to improve and be a better manager in 2018. While there is never a bad time to set new goals, the beginning of the year provides the perfect time to reflect and gather yourself after surviving a busy holiday season. If you aren't sure where to start, here are some smart resolutions that will help you become a rockstar bar manager in 2018:
Q: Are you running the right pour cost?
A: It’s not that your pour cost is wrong, you're probably working your pour cost out correctly. The problem is... What are you comparing it to? How do you know it is good? See More...
August is notoriously a slow month in the restaurant business. People are on vacation and spending more time grilling out in their own backyards. While there are ways to try and increase traffic to your restaurant, you can also adopt the strategy of working to get the most out of the customers who do stop by. Training your staff to upsell items is an easy way to drive up the check average and increase sales during slow periods. With a little training, your team can become experts salespeople, which will also translate into bigger tips for them.
Unless your restaurant is located in a busy summer vacation destination, July and August can be notoriously slow months. People are busy traveling and enjoying the weather with backyard barbecues instead of eating out at their local restaurants. While you might not be able to drastically increase traffic to your restaurant, there are some steps you can take to bring in more patrons during this slow season.
You throw on an old jacket and discover $50 in the pocket – free money! In reality, of course, that $50 is money that you earned but couldn’t enjoy because it was hidden away from you.
Employment law is dangerously complex. Managing a bar or restaurant with locations in multiple states means you have to follow different rules in different locations. The complexity is enormous and is compounded by the fact that these laws are constantly changing.
You put in the hard work and long hours, and your bar has become a success. While most people would sit back, catch their breath and enjoy the moment, your mind is already focused on opening a second and third location. Your friends and family may be questioning your sanity, but we certainly applaud your ambition. However, before you make another huge commitment, there are some important topics to consider. Here is what you need to think about before you decide to become a multi-location bar owner:
In today’s unpredictable economy, many restaurant owners are in need of a jolt - something that doesn’t only attract new customers, but will also want to make existing customers come back every time. There are many elements that affect the overall value of your restaurant, from marketing and the menu to hygiene and technology. It’s important to take all these features into account when you’re trying to improve your business. There are of course many potential ways you can achieve growth, some of which we will discuss in this article.