Topic: Inventory management
Excess inventory ties up capital better used elsewhere, uses valuable physical space, and can encourage theft.
You’re very likely wasting money by overspending a fortune on very avoidable expenses.
It’s mission critical to have an accurately counted and costed inventory if you ever want to maximize your profits. No inventory, no profits!
We’ve put together a detailed rundown of what happened this week that you should know. In life, knowledge is power. In this business, knowledge is dollars.
Do you want to stabilize your cash flow and increase the profits your business generates over the long run? Of course you do - we all do! Here are 5 tips that are not only effective for controlling costs and increasing revenue, they're easy to implement.
New Year's resolutions, the end of organized holiday parties, people settling back into their regular routines, and the need to pay off all of those presents tend to make January a slow month for nightclubs, bars and restaurants. Here are a few simple things you can do to succeed at the start of 2017.
With New Year's Eve on the horizon it's a safe bet that your liquor orders have gotten larger. An effective bar manager knows how to stay organized in order to avoid making costly (literally) mistakes. Here are 3 simple ways to keep organized when placing large spirits, beer and wine orders.
Weathering a financial storm should always begin with an in-depth look at expenses and cutting them out wherever possible. Operators should also rebuild their old draft system, analyze their glassware, and do regular inventories.
If you want to measure the success of your nightclub you need to understand the data you've been collecting. And trust us, you've been collecting a massive amount of data in today's technology-driven world.
The old adage tells us that time is money, and in our industry that is certainly the truth. Bearing that in mind, we need to consider our time when pricing cocktails. Owners and operators need to be sure that they are being paid for their time, an invaluable resource.