This area recently had an explosion of bars with massive tap selections. From 16 to 30 to 40 an even two bars competing for the most in the state at 64. Should you be looking at adding more beer taps to remain competitive?
First, let’s look at the benefits of tap beer. Generally, tap beer is more profitable than bottled beer. Additionally, it’s fresher and typically tastes better. Beer connoisseurs tend to seek out places that have a good tap selection. That said a good beer selection doesn’t have to be a massive beer selection.[…]
If you haven’t seen any of the past posts for making your liquor more profitable, you can start with determining your single and double pour.
I’ve decided to throw in three bonus tips that can help you make a little more on your drinks depending on your situation. These three tips, all come with a word of caution as they can make you more money in the right situation, but can lose you money in others.[…]
Many bars have hundreds of free dollars sitting on a shelf in free liquor they’ve gotten over the years. Oftentimes, it’s weird brands, or over orders from a past manager. So what do you do with this liquor and how do you extract the money out of it?[…]
Watching for discounts may seem like a pretty common sense way to save money on your liquor cost, but many restaurants don’t really do it at all, while others are making purchasing decisions solely on discounts and get a bunch of product they don’t need. So let’s dive a little deeper.[…]
Now that you’ve determined your proper pour, trained your staff, and got a plan in place for proper inventory management, it’s time to check the competition.
Ideally a competition check would be part of a full Competition and S.W.O.T Analysis to determine how you want to fit with the other companies in your space, but assuming you’ve done something similar in the recent past, it’s time to recheck pricing.
Furthermore, it’s good to patronize your competitors at least twice a year to get a better feel of their operation and where you gain an additional competitive advantage. One of these advantages may be on pricing.
Now, when looking at competitor pricing do not just take your competitor’s pricing and make it yours. […]