The 10 Myths That Can Cost You 20% of Your Profits

Posted by barblog on May 19, 2010 in Bar Management | 1 comment

I had a great conversation with the legendary Bevinco Partner in Columbus, Ohio, Charles Deibel last week.

He was telling me a number of myths that he hears every day when working with Bar Owners assisting with their inventory control.

It never ceases to amaze him or me just how many different ways, ideas and myths exist around the calculation of selling prices, calculation of profit margins and the identification of theft. These are expensive myths. As much as 20% of profits is being lost because of an incorrectly held belief in a system!

As our conversation deepened we agreed that we had to share these myths, ideas and strategies on a webinar so that everyone could join in and find out for themselves if they are employing some of these tactics in their business and don’t realise it.

What would it mean to you to increase profits by 20%?

What would it mean knowing that you were getting the maximum profit from each drink served and that you could leave your bar in the hands of your managers knowing that you had a system to check their accuracy later?

We’ll cover all of this and more on our Webinar on Wednesday May 26th.

I think some of the Myths we’ve encountered are going to really surprise you.

In any case, we’ll have a solution to each myth on the webinar and you will leave the webinar armed with informaiton to increase your profits!

You will need to register to attend this online presentation which we promise to keep brief and informative!

Reserve your Webinar seat now at:
https://www1.gotomeeting.com/register/718101264

I look forward to welcoming you to our presentation.

Title:           The Top 10 Myths That Cost Bar Owners 20% of Their Profits

Date:          Wednesday, May 26, 2010

Time:         4:00 PM EST

Announcement: Bevinco Partners With TheBarBlogger.com

Posted by barblog on Mar 19, 2010 in Bar Management | 2 comments

BEVINCO, an independent profit control and revenue enhancement service for the hospitality industry, is announcing its partnership with TheBarBlogger.com. The new alliance will foster growth and enhance information sharing throughout the hospitality community.

Barry Chandler, aka The Bar Blogger, is known for his bar and nightclub management Web sites that provide online resources for bar operators. For example, Chandler’s Web site Manageyourbar.com offers helpful tips from opening a bar to managing a kitchen.

“We are thrilled to announce this partnership, because it will allow bar owners to manage their establishments more effectively and improve the bar industry as a whole,” said Barry Driedger, president and CEO of BEVINCO. “BEVINCO has 300 franchisees and over 1000 employees in bars on a weekly basis. We can provide great insight to TheBarBlogger.com as to what is happening on the streets.”

Through the partnership, all BEVINCO clients will have access to reduced prices to hundreds of downloadable resources, articles and Webinars. In addition, visitors to TheBarBlogger.com will receive exclusive video tutorials and advice from BEVINCO on controlling inventory costs and stock management.

Industry studies have shown that approximately 50 percent of new restaurant ventures fail and independent BEVINCO studies indicate that this situation exists largely because the industry rarely employs standard management and control processes that are viewed as critical in any other industry. The BEVINCO system provides a means for restaurant owners to identify these gaps and implement control strategies which can help to ensure business success.