7 Bar Management Strategies To Increase Profits

The bar and restaurant industry has never been more competitive. As bar owners start the new year facing unprecedented challenges, it’s essential to find creative ways to grow. In this article, we’ve provided 10 bar consulting strategies for lowering expenses and driving more customers without spending more money.

  1. Stop Overordering: Be mindful of the types of alcohol you stock and how much you order. Overordering can lead to waste and excess expenses. Understand what trends are fads and what trends are here to stay and don’t get stuck with unwanted inventory.
  2. Negotiate with Distributors: Don’t be afraid to negotiate prices with your suppliers. Especially right now. It never hurts to ask for a better deal, and you may be able to secure lower costs. The new year is a natural time to have these discussions.
  3. Offer Niche Happy Hours: Make the happy hour at your bar stand out better in 2023 by offering happy hours specifically during an NBA or NFL game, or happy hour during trivia or karaoke nights, as opposed to the same happy hour offered by everyone else.
  4. Host live events: Hosting events, such as live music or trivia nights, can help bring in new business and keep your regular customers coming back. Explore hosting book signings for local authors or speaking events for politicians running for local office.
  5. Partner with local businesses: Consider partnering with local businesses to cross-promote each other’s services. This can help you reach a new audience and drive more traffic to your bar.
  6. Cleanest Bar Wins in 2023: Nothing is more inviting these days than cleanliness. A clean and well-maintained bar can help create a positive experience for your customers and encourage them to return. The bars most focused on hygiene and cleanliness will be rewarded.
  7. Try new things: If you ruled a business plan out in the past, don’t be afraid to consider that again. Be open to trying new things and making changes to your menu, bar and business as needed. This can help you stay current and adapt to the changing climate.

Remember to be open to trying new things and making changes as needed, and always strive to create a positive experience for your customers. With hard work and a little bit of creativity, you can keep your bar thriving in 2023 and beyond.

Contact Bar Consulting Services for a free strategy session to learn more.