Bar Trivia Time! The Cuba Libre (aka Rum and Coke) originated during the Spanish American War in 1898, in which the US allied with Cuba to fight for its independence against Spain. One day in a Havana bar, an American captain ordered a rum and Coca-Cola on ice, with a wedge of lime. As other soldiers in the bar tried it, the Captain made a toast “Por Cuba Libre” (“For Cuba’s Freedom”) and the Cuba Libre was born.
The restaurants of the Tao Group are consistently among the most profitable in America. Bloomberg News sat down with Toa co-founder Rich Wolf to see how they do it. Number one on the list: Focus on Drink Sales
Happy Mother’s Day! The prevailing theory is that the Mimosa was invented sometime around 1925 in the Hotel Ritz Paris by head bartender Frank Meier, but some credit should be given to barman Malachy McGarry, who, five years earlier, created the Buck’s Fizz as an excuse to begin drinking earlier in the day.
Take Inventory Frequently
Ok, maybe taking inventory isn’t unique, but being able to take accurate inventory in roughly 15 minutes is. (You can with our app) Fast inventory is a big deal because you’ll take inventory more frequently. And frequent inventory is a big deal because it reduces shrinkage and gives you good data that you can use when making important business decisions such as establishing pars, setting drink prices, etc.
Establishing par, the minimum amount of each product kept in stock, is fundamental to running a profitable bar. Not only does the correct par level ensure that you never run out of stock, it also ensures that you’re not keeping too much inventory on hand.
Par levels often vary throughout the year so they should be reviewed regularly.
Have you heard of these sparkling wines? Pét-nat refers to the method, petillant naturel, which is used to make them sparkle. The second half of fermentation is completed in the corked bottle which traps the co2. It has about half the fizz of champagne, which is made by adding a precise amount of sugar and yeast to a finished wine.
After using our app for six months, bars, on average, see a 7% pour cost reduction. That’s an increased profit of $35,000/year for bars with annual sales of $500k and $70,000/year
for bars with annual sales of $1 million.
Here’s how we do it:
They say monks brought the knowledge of distillation to Scotland sometime around 1000AD. It was originally used as medicine, but soon enterprising farmers realized that the leftover barley they used to feed their sheep could be turned into whiskey and sold to purveyors in town.
The right drink prices maximize a bar’s profit. This post will explain exactly how to determine those prices.
First, choose a target pour cost.
There is no universal “good pour cost.” The 20% figure is thrown around a lot, but determining pour cost depends on too many variables to plug in 20% and think you’re maximizing profit. Pour cost is influenced by:
Offer a variation on the classic this summer or bring this cocktail to the winter menu when citrus and rosemary are at their best. Either way, it’s a great drink.