When you run a bar and restaurant, you typically don't count on happy hour to be the most profitable time of the week. Happy hour brings in customers and creates future business, but with lower prices and deals, it's tough to make the big bucks. That does not mean, however, that you should be losing money during happy hour. Here are some tips to help you turn a profit during these hours.
Offer discounts on menu items with the largest margins.
Don't choose your happy hour deals randomly. Consider the profit margins on your various menu items. Do some items have a larger profit margin than others? Often, menu items like pizzas and fried appetizers have larger profit margins because the ingredients are less expensive. Maybe, for example, you're making a 10 percent margin on these items, but only an 8 percent margin on most other items. Choose these higher-margin menu items for your happy hour deals. You can mark them down and still make a profit on them.
Make sure your bartenders are not over-pouring.
If your bartenders over-pour on a $12 cocktail, that's one thing. The profit margin is usually large enough to allow for it. But if your bartenders are over-pouring on half-price happy hour cocktails, this will eat into the tiny profit you're making on those drinks. So, it's a good idea to check in with your bartenders before happy hour and make sure they know not to over-pour. If your bartenders are less experienced, ask them to measure using a shot glass when they make drinks.
Provide regular menus, too.
Even though they are there for happy hour, some of your guests may order off the regular menu during this time. It is always more profitable when they do since your regular menu items are selling at their ordinary prices. So, always make sure you set out regular menus on the bar (in addition to your special happy hour menus) during happy hour.
End happy hour a little earlier.
If your happy hour ends at 7:00, try ending it at 6:30. If it ends at 8:00, try backing it up until 7:00. When you do this, customers may still stick around, but they'll start ordering from the regular menu when happy hour ends, earning you more profits.
Happy hour is a great time to offer your customers some discounts. However, you want to ensure you're still making a profit at this time. For an example of what to look for in a restaurant or bar during happy hour, visit a location such as Down the Hatch Maui.
Share25 April 2022
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