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Discover the Secret Sauce to Profitable Cocktail Pricing
Manage episode 375078370 series 3445410
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Ready to master the art of cocktail costing and pricing? Tune into this episode where we walk through the ins and outs of every element that goes into crafting and pricing a lucrative cocktail. This isn't just about the cost of the liquor, we're talking mixers, soda, and even that quarter of a lime. I promise, by the end of this session, you'll be able to maintain that golden 20% liquor cost, while ensuring your bar stays profitable!
In this engaging discourse, we'll delve into the complexities of different cocktails and the costs associated with it. We're not stopping there though, we'll also discuss the importance of your POS system and how it can help you keep track of costs and price your drinks appropriately. You'll also gain insight into understanding your product mix and how it can help you adjust prices. And to wrap things up, we'll discuss the why's and how's of factoring tax into your drink's cost and strategies to increase prices without causing a stir. So grab your headphones, set aside a notepad, and let's talk business!
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Welcome to the Bar Business Podcast, the ultimate resource for bar owners looking to elevate their businesses to the next level. Our podcast is packed with valuable insights, expert advice, and inspiring stories from successful bar owners and industry professionals. Tune in to learn everything from how to craft the perfect cocktail menu to how to manage your staff effectively. Our mission is to help you thrive in the competitive bar industry and achieve your business goals.
Special thank you to our benchmarking data partner Starfish. Starfish works with your bookkeeping software by using AI to help you make smart data-driven decisions and maximize your profits while giving you benchmarking data to understand how you compare to the industry at large.
For more information on how to spend less time working in your bar and more time working on your bar:
The Bar Business Podcast Website
Schedule a Strategy Session
Chris' Book 'How to Make Top-Shelf Profits in the Bar Business'
Bar Business Nation Facebook Group
Chapters
1. Understanding Cocktail Costing and Pricing (00:00:00)
2. Discussion on Cocktail Pricing (00:13:43)
3. Effective Pricing Strategies for Bars (00:22:30)
67 episodes
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