Ever wondered why your bar's profits might be pouring down the drain? The answer could lie in the nuanced world of inventory management, which we're cracking open in this week's Bar Business Podcast. I'm Chris Schneider, and I'm here to walk you through the must-know strategies to keep your stock in check and your financials on point. We tackle the importance of running a tight inventory, digging into how it reveals the true cost of goods sold and ensures your prime cost percentage doesn't spiral out of control. It's not just about counting bottles; it's about mastering the balance between what you have and what you need, preventing money from stagnating on your back shelf.

In the thick of managing a bustling bar, the last thing you want is an inventory misstep to cloud your bottom line. That's why I'll share the best practices for monthly stocktakes, timing them just right for consistency without disrupting your service or sanity. Listen in as we break down the critical components of a foolproof spreadsheet, and don't worry, we'll even tackle the tricky business of those end-of-month variances. I promise it’s simpler than it sounds, and once you get a handle on this, you’re one step closer to running a well-oiled machine.

In this episode, I peel back the curtain on my own run-in with sneaky discrepancies and reveal how I turned the tables on theft at a country club. We'll also explore how essential data like inventory turnover and day sales in inventory can keep your cash flow healthy and your stock levels optimized. Whether you're a seasoned bar owner or just starting out, this episode will equip you with the insights to stay ahead of the game and ensure every ounce of profit is accounted for.

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Welcome to the Bar Business Podcast, where we're dedicated to helping bar owners achieve success without sacrificing their valuable time. In today's fast-paced hospitality industry, the old ways of running a bar no longer cut it. That's why we're here to guide you towards establishing the right mindset, concept, and culture for success.

Chris Schneider draws on over twenty years of industry experience to deliver valuable insights every week. From creating a standout menu and designing a stunning bar, to crafting effective marketing strategies and implementing HR best practices, we cover it all. Join us on the path to success and take the first step towards building a thriving bar business.

Looking to elevate your bar business to new heights? Don't miss out on my book, 'How to Make Top-Shelf Profits in the Bar Business'! Discover proven strategies and practical tips to transform your bar into a thriving success. Get your copy today on Amazon: Purchase Here.

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
Bar Business Nation Facebook Group...

Ever wondered why your bar isn't hitting that golden 55% prime cost target? This week on the Bar Business Podcast, I reveal why this number isn't the be-all and end-all for every establishment. You'll learn how factors like location and occupancy costs can shift the goalposts, and why tailoring your approach is crucial for your bar's financial well-being. I'm not here to preach textbook strategies; we're diving into the real-world implications that make or break your bottom line.

Accounting can be a headache, but it's the lifeblood of your bar's success. As your host, Chris Schneider, I break down the nitty-gritty of prime cost management, showing you how to separate your expenses into crystal-clear categories for a laser-focused view of your financial health. From mastering the art of differentiating beverage costs to embracing tools and expertise that streamline your financial tracking, this episode is your ticket to data-driven decision-making that can dramatically improve your business. But wait, there's more! We're peeling back the layers on prime cost management within the hospitality sector, discussing everything from the intricacies of labor cost categorization to the complexities of third-party delivery service fees.

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Welcome to the Bar Business Podcast, where we're dedicated to helping bar owners achieve success without sacrificing their valuable time. In today's fast-paced hospitality industry, the old ways of running a bar no longer cut it. That's why we're here to guide you towards establishing the right mindset, concept, and culture for success.

Chris Schneider draws on over twenty years of industry experience to deliver valuable insights every week. From creating a standout menu and designing a stunning bar, to crafting effective marketing strategies and implementing HR best practices, we cover it all. Join us on the path to success and take the first step towards building a thriving bar business.

Looking to elevate your bar business to new heights? Don't miss out on my book, 'How to Make Top-Shelf Profits in the Bar Business'! Discover proven strategies and practical tips to transform your bar into a thriving success. Get your copy today on Amazon: Purchase Here.

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
Bar Business Nation Facebook Group...

Embark on an insightful journey with Greg Buda, as he shares the cocktail of skills that took him from the lab bench to the buzzing bar scene. Greg distills the essence of shifting from consulting to ownership, spilling secrets on the art of delegation and the necessity of a hands-on approach in cultivating a vibrant, educated team. His passion for transforming complex ideas into palatable knowledge serves as a beacon for anyone navigating the hospitality industry.

This episode serves up a blend of strategy and storytelling, as we examine the underestimated power of service training and the magnetic pull of a meticulously curated digital presence. Our conversation ventures beyond the bar counter, exploring the nuances of creating a service experience that transcends cultural boundaries, underlining the profound impact of investing in staff knowledge. Tune in and discover how to leave your patrons thirsty for more than just another round.

Get in Touch with Greg
https://BarBisouBisou.com
Instagram: @buda.photography

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Welcome to the Bar Business Podcast, where we're dedicated to helping bar owners achieve success without sacrificing their valuable time. In today's fast-paced hospitality industry, the old ways of running a bar no longer cut it. That's why we're here to guide you towards establishing the right mindset, concept, and culture for success.

Chris Schneider draws on over twenty years of industry experience to deliver valuable insights every week. From creating a standout menu and designing a stunning bar, to crafting effective marketing strategies and implementing HR best practices, we cover it all. Join us on the path to success and take the first step towards building a thriving bar business.

Looking to elevate your bar business to new heights? Don't miss out on my book, 'How to Make Top-Shelf Profits in the Bar Business'! Discover proven strategies and practical tips to transform your bar into a thriving success. Get your copy today on Amazon: Purchase Here.

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
Bar Business Nation Facebook Group...