3 Simple Ways to Increase Bar Revenues

wholesale bottle sparklersIf you own a bar, then chances are that you want to increase your revenues as much as possible. Since owning a bar is such a high margin business, usually the best way to achieve this is by increasing the number of drinks that you serve each night. In order to do that, you need to bring in more customers and have each customer spend a little extra money. This principal will certainly make your bottom line much more attractive, but it can be easier said than done.

You see, increasing your customer base isn’t as easy as snapping your fingers, there are going to need to be some fundamental changes in how you conduct business. On top of that, you will need to learn how to position yourself in the market and bring something unique and desirable to the marketplace. Here are 3 simple ways to increase bar revenues and make more money. These aren’t going to make you rich by themselves, but they can definitely put you in the right direction.

Better Cocktails

One of the easiest ways to drum up more business to your bar is to serve better cocktails. All too often a bartender confuses strong drinks with good drinks and that leads to problems across the board. Not only will the drinks taste like garbage and drive away the customers, you won’t make any money at the end of the day since there was way too much alcohol in each drink. Train your bartenders, make sure they follow the recipes, and you will see a fuller bar, higher check totals, and bigger profit margins in no time.

Bottle Service

One of my personal favorite ways to generate more revenue from a bar is to increase that average size of each bill. The best way I’ve found to do this is to offer bottle service at a “discounted” rate. Most people who order bottle service are looking for the VIP status that comes along with it. Additionally, some of the people who order it will be looking to save some money. When your servers deliver the bottle to the table, they usually attach bottle sparklers to the neck of the bottle to make the delivery more extravagant. When the rest of your customers see this, you will certainly sell more bottles and the average bill in your bar will go through the roof.

Host Events

Most bars have live music, karaoke, or comedy a few nights each week to bring in extra customers. If you are really lucky, your bar may even have a separate area for these types of events. If so, you should consider renting that space out for weddings, birthdays, and other types of events. There is a lot of money to be made from simply renting out a nice size room, but it’s even better when you can serve the guests food and beverages right from your very own bar. I’ve seen bars double and even triple their annual revenues just by hosting events like weddings, so make sure you’re tapping into that market if at all possible.