Whether you are new bar, hotel, restaurant, nightclub or dive bar… you must be on top of your game when it comes to your bar inventory and beverage stocks.
Very importantly, you must ask yourself, “How many vodkas do I need on the shelf, to be who we say we are?” “How many single malt scotches is enough?” You want to have a nice selection, but there is a lot of products out there that you don’t need. Ask yourself… “Am I losing customers, if I don’t buy this… ‘Monkey Twisted, Honey, Cinnamon, Kale Whiskey, that was aged in a sherry cask in Brasil for 24 months, in a cave.’
The vendors are really good at getting these items on your shelves.
You must know, where you get these items, when they are delivered, how much they cost, how much you charge, and how to account for the sales of these items.
This is where the money is made. You charge right up to the limit of what your market will bear.
Each different spirit, wine or beer has a percentage of profit built right into it… You must know exactly where you stand, to know how to maximize your efforts and turn these efforts into profits.
Below is a typical breakdown of one single gin.
It’s pretty simple… if you buy it, and need it to perform the functions of your restaurant or bar, then it needs to be on a spreadsheet, and needs to be accounted for, at least once a month.