You’ve already launched a bar and are seeking tips on boosting sales. But where do you begin with all the information available out there? Which actions will have the most influence on your business?
In today’s world, being a business owner is a challenge. Nonetheless, the bar is an excellent investment. A successful bar’s average net profit is higher than the stock market’s average yearly return.
On average, investments in the stock market have returned 10%. Inflation takes away around 2.5 percent of your purchasing power each year. Therefore, the stock market will give you an effective annual return of 7.5 percent. Whereas with a bar, there is no limit to what can be achieved!
To run a successful place, you need to find creative ways to attract customers and boost revenue. In this article, we suggest seven highly effective strategies and methods to help you increase bar sales. Here are some ways to achieve it:
First and foremost, without customers, your bar will fail. Many businesses try to get new clients but forget about the existing ones. In fact, to run a successful place, focus on attracting new customers and converting them into regulars.
Undoubtedly, happy employees make happy customers, and happy customers make happy owners. You’re halfway there if you have a competent team that can deliver a pleasant, personalized experience.
Loyalty programs are an excellent way to keep in touch with current consumers. Even if you manage a little pub down the street, consider birthday and other holiday promos, free drinks, gratis food platters, and scratch cards with drinks on the house for your regulars.
We live in a world that is continuously developing, with trends shifting at a quick pace. Keep track of your best-selling and least-popular items, and update your menu regularly. Your regular clients will spend more if you revise the menu at least once every three months.
Food and beverage cost is essential to the success of any business. To get yourself organized, try the following methods:
Knowing what you have in stock allows you to place timely requisitions for things running out and use less popular items in promotions.
First and foremost, consistency is essential. Nobody wants to receive a different order each time they ask for the same item. Not only is it inconvenient for your consumers, but it also makes it hard to keep track of your inventory.
It makes it easier to reduce waste when you have a clear inventory tracking system and strict recipe management. Make your back area convenient and safe to avoid unnecessary breakage.
Upselling has always been a crucial component of generating more money. Customers are usually open to trying new drinks or ordering more than one drink. Your waiters need to know how to get customers to try other higher-priced items smoothly. If you know how to upsell, train your team to be more than order-takers. Here are a few suggestions to help you upsell:
Ensure your menu is continually fresh and intriguing so you can recommend them to your consumers. Groups of friends or coworkers may be willing to try new things together just to share thoughts and have fun.
Create specialty beverages that complement your bar's environment and that your servers may promote to clients at a discounted price. You can do the same thing with your meals.
When clients visit your restaurant for food, staff can give them beverages while they wait, drinks while they eat, and a special wrap-up drink after the meal. In this manner, you may persuade the buyer to buy more. On the other hand, make sure it doesn’t seem repetitive and pushy.
Offering special prices on alcohol may seem like the opposite thing you want to do to increase profits, but this strategy has become one of the most-used (and most successful) marketing strategies for boosting bar profits. Consider giving happy hour deals on days or hours when business is unusually slow. Happy hour is also a great way to get rid of less popular items or promote new ones.
Introducing bar games and sports betting is a great way to increase your bar’s sales. If your bar shows a variety of sports and teams, you’ll have a good chance of attracting large crowds to cheer on their fantasy teams.
This can be a huge advantage for sports bars, not only in terms of providing games to watch but also in terms of starting your own fantasy sports competitions. Whether it be weekly pick’em contests for the NFL or other sports. There are various options available, but they can all be used to attract new customers and keep existing ones entertained.
Customers are utilizing social media more than ever before, and it is here to stay. Using social media sites like Instagram and Facebook to attract new customers and keep them engaged and entertained can help your bar grow.
Here are some examples of how you can use social media marketing:
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