How To Make Your Bar More Profitable
Owning and operating a bar is a delicate balance. You want to provide your customers with the best while keeping your business above water. Competition in the hospitality business is fierce. You need to differentiate while implementing standard best practices to be successful. Look over some of these practices so that you can make your bar more profitable.
Expand the Menu
Variety is the spice of life. The regulars at your bar likely enjoy the standard items on the menu, but they’ll also appreciate a few new items. Expand the types of menu items you offer to bring variety to the patrons. Carrying unique items gives your bar an extra something special, and you can bring in new guests every time you feature a new addition.
You can choose to implement that variety any way you want. It could be in the form of a new menu each week or a special offer during happy hour. Keep customers on their toes so that they can enjoy a pleasant surprise every visit. You may also want to include a broad selection of alcohol-free drinks on the menu and create some crafty mocktails.
Find the Money Drainers
Locate all the areas in your bar where you’re wasting Money. Plenty of bars lose profit every day due to overpours and comps.
And depending on the type of liquor you provide, you could be losing a substantial amount of money to these issues. One solution is to invest in alcohol-tracking software. There’s Technology to track beer poured versus beer sold in real time. Aside from the drinks, you will want to survey all other expenses, such as waste disposal. Renting a dumpster for your bar provides many benefits, especially if you plan to host a large event or need to manage extensive waste.
Host a Theme Night
Everyone loves dinner and a show. Drinks and a show are even better. When patrons go out, they’re hoping for some excitement and a change of scenery. After a while, going to the same bar and doing the same thing can become boring.
Show your regulars and the newcomers you have a lot to offer. Host a theme night once a month or, if you have a host to manage it, once a week. There are plenty of options to choose from. Host a game night, trivia night, or even a roaring twenties night. You can serve a special drink to go with each theme.
Offer Happy Hour Specials
Think about the standard demographic your bar attracts on the regular. If most patrons are between the ages of 21 and 35, they appreciate a good-priced drink. Affordable-priced drinks are effective tools for attracting and keeping a crowd.
As opposed to hire-priced drinks, patrons will probably only order one or two before they get up. Happy Hour specials might guarantee that they order at least three or four drinks. Make these specials different every day for different drinks so that every label gets a chance to shine.
Once your bar becomes more profitable, you might even consider opening at another location.
Originally Published on https://www.breakfastleadership.com/
