2. Monitoring PC – One of the many truisms in this business is, “If you can’t measure it, you can’t manage it.” Nowhere is that truer than behind the bar. Determining your bar’s ongoing cost percentages – pour costs – reveals your level of profitability. As your cost of goods sold increases, gross profits diminish. Success behind the bar greatly depends on maintaining and safeguarding your profit margins. No profit, no success.
Tracking your cost percentages is a fundamental form of control – the more frequently you conduct an audit and determine your pour costs, the more insight you’ll have into your operation. If the audit indicates a problem, you’ll be able to respond quickly and with specific, timely information in-hand.
Micro-chip technology has provided a huge boost for beverage operators in accurately tracking cost percentages. One such boost is an outside audit service called Bevinco. Armed with a laptop, electronic scale and highly sophisticated software, a Bevinco auditor is capable of producing a report that will not only detail precisely what your actual cost percentages are, but more importantly what your potential pour cost is. In many instances, the report will also document exactly where and how you’re losing money. It’s the ultimate form of control.
3. Weak Links – Your business is only as strong and vital as your weakest employee. The bartending staff, impacts every aspect of your operation, from portioning and marketing your bill of fare, to rendering prompt and gracious hospitality to your clientele. Through their hands pass your cash flow. It is therefore critical to assemble the most professional staff you can.
One of the most important steps in the process is establishing an on-going training program. What your people don’t know can most certainly hurt you. Their lack of expertise reflects poorly on your business, and prevents them from attaining their potential. Ongoing training is an investment, not a hardship.
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