Here are a few ways to make more money without spending a lot. These are specific suggestions, but some may not be appropriate for you depending on the type of establishment you have.
1. Get your business in line. We aren't suggesting that you aren't doing this already, but we’re always surprised by how many people let the little stuff add up. Things such as comped food items from employees and relatives, over pouring in the bar, free drinks, theft, food waste, time waste and unnecessary fixed costs (such as leaving the lights on overnight) can all lead to a cash drain.
2. Consider purchasing some measured liquor pourers. If you don’t have them you can get some here. These devices are relatively inexpensive and will keep your liquor inventory under control. In addition to that, they can INCREASE YOUR PROFITS significantly. It will also to keep your bartenders honest. A $500 investment could lead to thousands of more euros in profits per month.
3. Do you have extra space? Rent it out! You can oftentimes rent out a kitchen (when you're not using it) to a nearby restaurant. That could bring in some extra euros. (If you have a kitchen of course)
4. Partner with some local talent. Perhaps a solo performance might draw in some extra customers. What was that guy's name that plays piano, again?
5. Do some catering. People love having food delivered to their events and parties. You also have a phenomenal profit margin on this as well, as prices can get marked up due to the nature of the work. (If you have a kitchen of course)
6. Try hosting a special event. Football, sports, or something else to get people into the door. Bikini night???
7. Try changing things up. A menu shift a few times a year can be a welcomed change. You could serve food that is in-season which could help your margins in addition to your bottom line.
8. How about a special dinner? You could customize everything to achieve a certain profit margin. Italian night? Ciao, Bella! Add some ambiance and be profitable at the same time. (If you have a kitchen of course)
9. Are you utilizing promotions? Happy Hours, Games, etc? If you have space available, get a game and create tournaments. Darts anyone?
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