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Avoid These Top 3 Bar Inventory Mistakes at all Cost

Running a bar business is challenging; it presents many obstacles that most other small businesses simply do not. There are a lot of possibilities for error and keeping all systems in optimal working conditions is difficult most of the time. In previous articles, we’ve discussed why keeping your inventory systems in optimal shape is important and we’ve also shown you how to figure out some of the most important metrics to keep your bar business profitable. Always Check Your Variance

Not Knowing These Metrics Will Cost Your Bar Serious Profits

We’ve talked about the importance of taking inventory in a previous article, and explained why efficient bar inventory is the lifeblood of your business; you can check that out first if you want. Below we will dive into some metrics and tips to further enhance your bar’s performance. Calculating Cost Of Goods Sold Cost of Goods Sold (or COGS) is an important metric because it allows you to keep track of your overall inventory performance and plan your future cash

Why Efficient Bar Inventory Is The Lifeblood Of Your Business

Most of Your Assets are in Liquid Form Face it: there is a lot of money tied up in your bar inventory. I’m sure you count your cash often and you always know how much money you have in your bank account, but most of your assets are tied down in your inventory. That is one of the main reasons you need to count it as often as you possibly can. You need to make your staff and management accountable