The Big Bang... 6 Top Tips

July 31, 2014

The Big Bang... 6 Top Tips | Überbartools™

The greatest transitioning of bar talent from “tender” to “keeper” is exploding across the planet!

In galactic terms, this is our Big Bang moment, a perfect expanding universe of opportunity!

On the other hand, science warns us: nothing expands forever... at some point, the opposite will occur... it’s called The Big Crunch!

So here’s 6 top tips to help Crunch the numbers, so you‘ll never get Crunched!:

  1. Finance Person... get one pronto to help with financial plans, budgets, projections. Work out your earliest break-even point and focus daily, weekly and monthly on hitting those numbers.
  2. Keep costs to a minimum... only spend when you must...always keep your powder dry for another day/time.
  3. Don’t over invest... whether that’s stock, staff or stuff... always ask the question is this a “must have” or a luxury “nice to have”... base this on your budget/prevailing profitability.
  4. Work 20% of the things that generates 80% of sales, income, opportunity... everything else leave or delegate.
  5. Measure everything... including your drinks, staff performance, customer satisfaction levels etc... what’s not measured, is not focused on, what’s not focused on, never happens, this is the Black Hole... sucking everything in its way!
  6. Metrics... put in place important financial barometers... i.e. costs of goods sold, avg. hourly rates, hours worked, spend per guest, bartender sales. These form part of your biz dash board, knowing at a glance where you are, helps make course corrections, if needed!

Your Own Bar Is Richly Rewarding | Überbartools™Owning your own bar is richly rewarding not to mention empowering... just as a cocktail needs to be consistent i.e. properly portioned and balanced, so a business requires the perfect balance of measures to create the best results!

 Subscribe in a reader






Also in News

Thingamajigs jiggers and measuring for cocktails
Baking, Physics and Thingamajigs: Why Measuring is a Must

May 18, 2021

For bakers, measuring is imperative when it comes to baking the perfect cake. And the requirements for a bartender to make a top-notch cocktail are just the same. Read our blog to find out why measuring is a must.

View full article →

Bartender Speed & Efficiency | Überbartools™
Bartender Speed & Efficiency

June 07, 2020

Speed is what the customer sees, whereas efficiency is what the bar owner measures in dollars. Efficiency is a behind the scenes measure of doing things in the easiest cost-effective manner, resulting in a more enjoyable working environment for bartenders so they can serve more customers at a high level of quality.

View full article →

Cutting Costs, Saving Money & ROI
Cutting Costs, Saving Money & ROI

May 28, 2020

Whilst cost cutting is a strategy which produces an outcome(s), does it longer term produce sustainable ROI (return on investment)?

Usually ROI should be measured by the costs of “doing something” versus  the “value” delivered.

When implementing a cost cutting program, it’s so important to conduct a 360 degree examination of impacts and consequences before implementation is considered.

 

View full article →