There is nothing new about offering discounted prices on drinks during the slowest hours at pubs and bars. Creating the kind of atmosphere and attractions that will have regular customers, and new business, flocking to your door requires some smart strategies however. Without them, you can end up losing money instead of creating a new revenue stream, and nobody in business wants that. Creating a happy hour Grapevine TX pub owners will want to emulate starts with understanding why you want to do it in the first place.
You're in business to make money so the primary reason to offer special prices is to increase sales at the bar. To do that you've got to be ready to offer customers discounted prices, two for one drinks, and meal combos. This is what will have regulars returning more frequently and attract new business at the same time.
Offering discounts on drinks and meals will not only increase bar sales. It will add revenue with the sale of food items. Established cocktail hours will help you market your brand and expand your existing business.
Offering discounts on drinks is not sufficient. You have to price them strategically. If you lower the price in a particular area, it is necessary to raise them in some other area. You can increase the prices on favorite food items at the same time you discount drinks, or offer them for free. You can find the right pricing calculations, that will show you how to set maximum pricing, online.
You will find that creating a special happy hour menu is worth the extra cost. The menu should include combinations of drinks with food that has high profit margins. Your menu needs to offer items that are only available during these special hours. When you do that customers will be even more apt to frequent your bar during these hours.
You can't forget about the customers who don't drink. They will participate in your cocktail hours if you target them. Offer specially discounted mocktails and combos just for them.
You have to know who your audience is. You need to cater to your regulars with your strategies first rather than focusing on getting new customers. If you entice the regulars, the new business will follow. You should consider who the people are who are coming to your bar or pub. They may be corporate types who work nearby. They may be young people who are on the prowl for the coolest place to party. Once you pinpoint your audience, narrow in on what will bring them in.
Teaching your servers to upsell is important. Servers are the backbone of your business. Customers ask them for advice when ordering food and drinks. This gives them a chance to suggest high profit margin foods or point out add ons. This is just one more strategy and a way to increase your net profits.
You're in business to make money so the primary reason to offer special prices is to increase sales at the bar. To do that you've got to be ready to offer customers discounted prices, two for one drinks, and meal combos. This is what will have regulars returning more frequently and attract new business at the same time.
Offering discounts on drinks and meals will not only increase bar sales. It will add revenue with the sale of food items. Established cocktail hours will help you market your brand and expand your existing business.
Offering discounts on drinks is not sufficient. You have to price them strategically. If you lower the price in a particular area, it is necessary to raise them in some other area. You can increase the prices on favorite food items at the same time you discount drinks, or offer them for free. You can find the right pricing calculations, that will show you how to set maximum pricing, online.
You will find that creating a special happy hour menu is worth the extra cost. The menu should include combinations of drinks with food that has high profit margins. Your menu needs to offer items that are only available during these special hours. When you do that customers will be even more apt to frequent your bar during these hours.
You can't forget about the customers who don't drink. They will participate in your cocktail hours if you target them. Offer specially discounted mocktails and combos just for them.
You have to know who your audience is. You need to cater to your regulars with your strategies first rather than focusing on getting new customers. If you entice the regulars, the new business will follow. You should consider who the people are who are coming to your bar or pub. They may be corporate types who work nearby. They may be young people who are on the prowl for the coolest place to party. Once you pinpoint your audience, narrow in on what will bring them in.
Teaching your servers to upsell is important. Servers are the backbone of your business. Customers ask them for advice when ordering food and drinks. This gives them a chance to suggest high profit margin foods or point out add ons. This is just one more strategy and a way to increase your net profits.
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