Whether you are managing a pub or night club, the challenges that come with running a successful bar is going to be more than filling up the customer’s drinks. You need to make sure you serve tasty drinks, are well-stocked, create events that excite potential customers and protect yourself from potential liabilities. Bars are important places in the community acting as everything from engagement party venues through to funeral wakes. Make yours the go-to place for your community’s events and socialising needs. Managing a bar is not that easy, but the following four steps will help you make a profit from the bar business.
1. Keep the Bar Stocked
Having the bar stocked will be more than just having the cooler or fridge full of beet, wine and spirits. It is important to track the drinks your customers drink and the types of alcohol that sell more than others. You will be able to adjust your orders so you will be spending more on popular alcohol and less on what is not popular.
2. Measure Spirits So You Don’t Over-pour
While it might seem like an extra-strong drink is no big deal, over-pouring drinks is going to add up and cost you even thousands in the long run.
The good thing is there are a number of options to measure the drinks you pour. Below are some good examples of preventing over-pouring and wasting drinks;
Use measured serves. They will help in measuring the drinks because the portions are more accurate. This will prevent spilling which will save you a lot.
Teach your bartenders to use jiggers when making cocktails. When you use jiggers, you will be able to avoid over-pouring, and your customers will be getting a consistent drink every time they order.
3. Create Signature Cocktails
Many of the customers coming to your bar are going to order popular drinks like an Old Fashioned or rum and coke, but you should create drinks that are going to be unique to your establishment. You will have a competitive edge over your competition. When you create your own signature cocktails, you can price them higher than other drinks, which will help you increase your margins.
4. Host Happy Hour Events
Happy hour is when you attract customers with low prices on drinks. Once they come, you will have the chance of impressing them with your cocktails and great customer service. They will then stay past the happy hour and are going to pay the full price. When choosing happy hour items, go for those that have a higher profit margin, snacks, group specials and designated driver discounts.
Hosting events is another way of bringing customers to your bar. The events can be a regular occurrence or just a one-time thing, but both give you the chance of building your customer base. There is a wide range of options when it comes to events you can put up, and it will be mainly dependent on the clientele and theme of the establishment. Some populations are:
- Speed dating
- Arcade or game nights
- Open mic nights
- Sporting events
The bar industry is one of the most competitive industries, and it becomes difficult to succeed in running one because of the thin margins. If you take a more active role in the business, make sure the bar is always stocked, and train your employees, you will be able to succeed.