Running a successful bar or pub that takes in a healthy profit can be a challenge, which has become especially apparent throughout the covid-19 pandemic, even now, when establishments are allowed to open fully. The hospitality industry was amongst the hardest hit, and now more than ever, it’s essential for bars and pubs to find new ways of bringing in money to the business. Here are some tips for how you could boost revenues for your bar or pub.
It may seem pretty obvious, and plenty of businesses do this already, but upselling when people order what they want can be an effective way of driving additional revenues. If a customer orders a cheaper house drink at the bar, encourage your staff to suggest alternatives that are slightly more expensive but can be a better option for the patron. If a customer is only purchasing drinks, ask if they’d be interested in any food or snack options that your bar or pub has on offer. When buying food, customers should be recommended extras such as additional toppings for a burger or adding an extra pattie.
Bars and pubs have a tendency to stick to products that are traditionally associated with them, not often venturing out to new items. Research what new products are available that you could stock behind your bar, luring customers to buy different items whether they’re regulars or have never been before. New stop-smoking products such as nicotine pouches could be one way of adding something extra to your shelves. Nicotine pouches are seeing an increase in popularity, and they’re the perfect product to sell at a bar or pub due to the inability to smoke inside the venue. A customer can simply pop a nicotine pouch into their mouth, and nobody even has to know it’s there.
Diversifying has long been an effective way of boosting and securing the revenue of a business, particularly when challenges are being faced, such as that seen throughout the pandemic. With more people than ever choosing to work from home, many are looking for meeting spaces for those times when it just wouldn’t be suitable to host the meeting over a video call. The slightly less formal atmosphere of a bar or pub can be perfect for these times, and you could bring in new customers all wanting to spend money on drinks and possibly food by catering for this. Set aside quieter areas of your business for people to hold meetings with colleagues and clients. Consider having items such as power sockets, a projector and a screen available too, ensuring different needs can be met.