Top Tips to Increase Your Bar Profits

 Whether you run a small pub or a very high end cocktail bar, doing inventory management stock control is essential. The demand for and supply of products flow rapidly every day, meaning that your stock levels are highly dynamic. If you do not keep track of stock consumption properly, stock issues may go unnoticed to the point that you are forced to go out of business.

One of the best ways to monitor your stock levels is to do regular stocktakes. Advanced Stocktaking offers retail stocktaking services to small and large businesses of various industries, including bars and restaurants. Our trained stocktakers have undergone accredited training and have years of experience in this line of work. Therefore, we confidently ensure that your bar inventory stock take will be done with absolute accuracy and optimal efficiency.

There are other ways to improve your bar’s chance of success besides doing regular stocktakes. Here is what you can do to boost your business’ growth.

1. Do regular pipeline cleaning

As beer lines can get clogged with bacteria, yeast, mould, they may affect the taste of your beer. Scheduling regular clean-ups of your line helps to ensure that your customers are drinking beer of the best quality. You also get to maintain your reputation as a reputable bar by meeting the industry’s hygiene standards.

A good rule of thumb is to clean your lines every two weeks, or every half keg, whichever comes first. If you do not have the time to do it, consider outsourcing an external cleaner.

2. Think of products as cash

You may have seen a bartender (or even your own employee) over pouring beer, causing the excess beer to flow into the drip trays. While this may seem insignificant, this habit can negatively affect your stock levels in the long run, resulting in lost profits.

Teaching your employees to treat drinks with respect leads to a minimum amount of wastage. You can also charge for beer samples to minimise stock loss.

3. Rotate your stock

Dead stock and expired products are two of the most common causes of lost profits. Low inventory turnover can be due to poor forecasting, stock optimisation and replenishment. It is oftentimes a sign of weak sales or excessive inventory.

To avoid this problem, make sure to rotate your stock based on products’ sell-by dates. Move short-dated products to the front of the shelf and put products with later expiration dates into the back.

Advanced Stocktaking’s bar inventory management software is capable of handling your products by their expiration date. You will have updated insights needed to manage your stock rotation for minimal shrinkage.

We are a leading provider of stocktaking services to the retail, wholesale and hospitality industries in Australia. Get in touch with our team for quality stocktaking services using world-class technology in barcode stocktaking.