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Maintaining restaurant and bar sales in what looks like an impending recession, stiff competition and ever-changing trends has become more difficult for the industry in recent years. That’s why it’s now more important than ever for bar and restaurant owners around the world to practice tactics that will help them increase sales by finding a balance between keeping existing customers and acquiring new ones. We’ve listed some ideas below that you might want to try – if you didn’t already….

Running a bar business is challenging; it presents many obstacles that most other small businesses simply do not. There are a lot of possibilities for error and keeping all systems in optimal working conditions is difficult most of the time. In previous articles, we’ve discussed why keeping your inventory systems in optimal shape is important and we’ve also shown you how to figure out some of the most important metrics to keep your bar business profitable. Always Check Your Variance…

We’ve talked about the importance of taking inventory in a previous article, and explained why efficient bar inventory is the lifeblood of your business; you can check that out first if you want. Below we will dive into some metrics and tips to further enhance your bar’s performance. Calculating Cost Of Goods Sold Cost of Goods Sold (or COGS) is an important metric because it allows you to keep track of your overall inventory performance and plan your future cash…

Most of Your Assets are in Liquid Form Face it: there is a lot of money tied up in your bar inventory. I’m sure you count your cash often and you always know how much money you have in your bank account, but most of your assets are tied down in your inventory. That is one of the main reasons you need to count it as often as you possibly can. You need to make your staff and management accountable…