Remove Advertising Remove License Remove Pricing
article thumbnail

Owning a Bar: Everything You Need to Know

7 Shifts

Make sure to get quotes from multiple suppliers so you can compare prices and services. Pricing should match your target market and theme. A cocktail bar can have higher prices while a local neighborhood pub probably can't. To apply for a liquor license, consult the Alcohol Beverage Control (ABC) Agency) in your state.

Bar 370
article thumbnail

How to Open a Bar: Comprehensive Guide on Starting a Bar

7 Shifts

However, note that bar profit margins vary due to various factors like tax rates, licensing laws, customer demographics, and the cost of living in your area. Your business name will also appear on your marketing materials, staff uniforms, menu, social media accounts, and advertisements, so make sure it isn't too long or complicated.

Bar 221
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Boosting Profits One Sip at a Time: The Power of Specialty Beverages

Modern Restaurant Management

While three in four survey respondents believe restaurant prices are higher, other factors, such as flavor, outweigh price when ordering specialty beverages, particularly in the full-service segment. During a time of increased price sensitivity, beverages create an opportunity to increase the total check.

Beverage 197
article thumbnail

Opening a Restaurant: Steps to Take and Common Pitfalls to Avoid

Modern Restaurant Management

Get Your Licenses in Order Starting a restaurant business involves registering with the authorities and procuring the relevant licenses. Ignoring these licenses and regulations might attract hefty penalties and fines, so make sure you’re aware of the local, state, and federal regulations before opening up for business.

License 163
article thumbnail

Restaurant Accounting: A Comprehensive Guide

7 Shifts

This number is essential because it helps you determine the price of your food and beverages. Customer acquisition cost (CAC) CAC is used by restaurants to measure the effectiveness of their marketing efforts, whether they're advertising on social media or utilizing coupons, deals, and local print ads.

article thumbnail

How To Start an Event Planning Business: Step-by-Step Guide

Sling

To that end, be sure to address topics such as: Mission statement Advertising Price structure Employee concerns Accounting practices Budget Marketing Equipment needs Keep in mind that your business plan is a living document.

Events 78
article thumbnail

Seven Tips to Help Restaurant Owners Avoid Common Pitfalls and Grow

Modern Restaurant Management

That’s part of the price of doing business – especially when you own multiple restaurants. If you are not purchasing land, check the rent and lease agreements, and local regulations (such as zoning laws, permits, and licenses required). This word-of-mouth advertising encourages people to try you out.