Set your Par

An inventory Par refers to a minimum amount of inventory which you would like to have on hand at all times. Set pars have tremendous value if done properly. 1) With a set par you typically should never run out of any items or forget to order any items. 2) By utilizing a par you'll simply replenish what you used during a specific period, which helps to improve cash flow provided that you have your cost under control. 3) Set pars help to easily identify alcohols which you may be causing you to have a cost problem.

Inventory weekly
The more volume you do, the more you should inventory your items. I know that inventory is time consuming and boring; however, it must be done. The sooner you know about the problem, the sooner you can react to it. If you feel that you have a serious inventory problem, you might consider daily inventory.

Policy and Procedures
Make it clear to your staff what your policy and procedures are. Don't be afraid to let your staff know that you will prosecute anyone caught stealing. This is probably one of the biggest mistakes associated with the industry - restaurant owners failure to prosecute!

Backpack, purses, large jackets & handbags
Do not allow employees to bring backpacks, purses, or other large handbags behind the bar or in the liquor room. Ideally those items should stay outside of your establishment unless absolutely necessary.

Jiggers or other controlled pourer items
Do not allow your bartenders to free pour. Although there are many bartenders who do an excellent job at free pouring, there's many more who can't. Jiggers, free pourers, or other similar items are an excellent way to help control your liquor cost.

Pricing Strategy
Review your prices at least once per year. Don't be afraid to put your retail prices inline with your competition. You can always have drink specials to roll back prices.

For more tips and strategies on how to reduce your liquor, beer, and wine cost, please give us a call.