There is nothing particularly original about advertising deeply discounted prices during slow hours at bars and pubs. Creating the right kind of atmosphere that attracts your regular customers, and brings in new ones, requires some thoughtful strategies though. Failing to plan strategically could cost you money in the long run instead of creating new revenue streams. You won't stay in business that way. Creating the kind of happy hour Grapevine TX business owners will emulate begins with an understanding of the reasons you're doing this in the first place.
You're in business to make money so the primary reason to offer special prices is to increase sales at the bar. To do that you've got to be ready to offer customers discounted prices, two for one drinks, and meal combos. This is what will have regulars returning more frequently and attract new business at the same time.
Offering discounts on drinks and meals will not only increase bar sales. It will add revenue with the sale of food items. Established cocktail hours will help you market your brand and expand your existing business.
Just discounting drinks isn't enough. You have to price them right. When you are reducing the price in one area, you naturally have to raise prices in another. If you don't do that, you won't be maximizing your sales. You want to increase the price of the best selling items at the same time you are offering free, or two for one, drinks. There are tables you can use to determine how to set the most effective prices.
It's worth the money you will spend to print a special menu for happy hour. You can include combinations of food and drinks, emphasizing those with the highest profit margins. There should be items that are specific to this time period, and not available during regular hours. That way you will have people coming in specifically to order what is on this menu.
Don't forget the customers who don't drink alcohol. They will join their friends at your pub if you have something special to offer them. That might be discounted meals with mocktails for instance.
It's important to know your audience. You should take care of the regular customers when you are creating your strategies instead of concentrating too much on getting new business. If you please the regulars, new customers will follow. You have to think about who it is that is coming to your pub or bar. It might be corporate types with offices nearby. It could be young adults out on the town and in search of the best partying deals. After you've pinpointed your audience, you can narrow in on things that appeal most to them specifically.
Teaching your servers to upsell is important. Servers are the backbone of your business. Customers ask them for advice when ordering food and drinks. This gives them a chance to suggest high profit margin foods or point out add ons. This is just one more strategy and a way to increase your net profits.
You're in business to make money so the primary reason to offer special prices is to increase sales at the bar. To do that you've got to be ready to offer customers discounted prices, two for one drinks, and meal combos. This is what will have regulars returning more frequently and attract new business at the same time.
Offering discounts on drinks and meals will not only increase bar sales. It will add revenue with the sale of food items. Established cocktail hours will help you market your brand and expand your existing business.
Just discounting drinks isn't enough. You have to price them right. When you are reducing the price in one area, you naturally have to raise prices in another. If you don't do that, you won't be maximizing your sales. You want to increase the price of the best selling items at the same time you are offering free, or two for one, drinks. There are tables you can use to determine how to set the most effective prices.
It's worth the money you will spend to print a special menu for happy hour. You can include combinations of food and drinks, emphasizing those with the highest profit margins. There should be items that are specific to this time period, and not available during regular hours. That way you will have people coming in specifically to order what is on this menu.
Don't forget the customers who don't drink alcohol. They will join their friends at your pub if you have something special to offer them. That might be discounted meals with mocktails for instance.
It's important to know your audience. You should take care of the regular customers when you are creating your strategies instead of concentrating too much on getting new business. If you please the regulars, new customers will follow. You have to think about who it is that is coming to your pub or bar. It might be corporate types with offices nearby. It could be young adults out on the town and in search of the best partying deals. After you've pinpointed your audience, you can narrow in on things that appeal most to them specifically.
Teaching your servers to upsell is important. Servers are the backbone of your business. Customers ask them for advice when ordering food and drinks. This gives them a chance to suggest high profit margin foods or point out add ons. This is just one more strategy and a way to increase your net profits.
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