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How to Calculate and Improve Your Bar’s Profit Margin

7 Shifts

It just goes to show how important drink pricing and cost management are to maximizing profits. Bar profit margin and pour cost Some high-performing bars can reach higher margins by optimizing their costs and pricing strategies. Keep in mind that certain drinks can be priced higher due to their popularity or unique ingredients.

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Boost Your Restaurant Business with Five Local Marketing Tips

Modern Restaurant Management

Consumers and customers have changed their behavior due to the events of the previous year. This is because you can expect lower prices due to the smaller distance between you and the businesses providing your goods. Now more than ever, restaurant owners need to improve the way dining places are run to survive these uncertain times.

Marketing 568
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The American Restaurant 2022 (Post Pandemic)

Culinary Cues

If this is your purpose then the field is wide open and will remain so as long as the price you charge matches the level of purpose. [] OFFER CONVENIENCE: Quite often, the restaurant that is focused on nourishment is also great at providing convenience. In a world where everyone seems to live on tight schedules – convenience rules the day.

2022 477
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Improve Your CX and Reduce Operating Costs with a Simplified Payments Strategy

Modern Restaurant Management

Some of the most common elements across these various consumer-driven businesses include pricing, location, environment, quality of goods and services, access, parking, and so on. Are your staff sufficiently trained in how to handle your customers? Do you meet the expectations your marketing creates?

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7 key restaurant revenue streams to prioritize in 2024

7 Shifts

Profitability remains a challenge for many restaurants, especially with prices for ingredients and labor going up. Offering additional services, like delivery and takeout, meal kits and subscription boxes, and even catering and hosting special events can unlock new growth opportunities.

2024 243
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Leveraging Relationships to Build a Better Bar Program

Goliath Consulting

Your bar gets free product to try out different flavors or drop the price on name brand spirits, the distributor keeps their inventory fluid and product shipping. Did you know many brands/distributors will offer special pricing if their spirit is featured in a specialty cocktail? Want to stay on top of what’s new in the bar business?

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2024 Outlook: Restaurant Trends and Challenges, Part One

Modern Restaurant Management

On Menu Ingredients We predict the rise of “bougie” ingredients like caviar, lobster and truffle popping up at restaurants at more affordable prices and in more casual settings like fast casuals and QSRs. General liability claims are not likely to fade any time soon, either.

2024 493