In hospitality, there are tight margins, so it’s important to get your business working like clockwork. Find the right metrics to manage your bar.
1. Wet (drinks) sales gross profit: Measures how much profit is being earned on these sales after direct, associated costs have been taken into account. It’ll show you which drinks aren’t shifting, therefore decreasing in profitability.
2. Average customer headcount: This is an engagement and customer behaviour metric. This information will allow you to evaluate your hiring policy and shift patterns. Strategic shift planning contributes to the overall business strength.
3. Average customer wait time: If customers are waiting for more than a couple of minutes to be served, you risk them heading elsewhere.
4. Waste %: Be vigilant with your stock takes. All waste must be measured and logged. Sometimes this is unavoidable – we’ve all seen the picky customer that changes their mind halfway through you pouring their pint – but as long as it’s tracked it shouldn’t affect your bottom line.
5. Dry (food) sales gross profit: Dry sales often keep bars and pubs afloat, and with similarly high margins to your wet sales, it’s crucial to get this measurement accurate.
Have a look through our KPI Library for more.Calculate your wet sales gross profit here.Learn more about average customer headcount here.Learn more about average wait times here.Add your waste % into your forecast so you can show your team where they need to improve.Learn how to calculate your dry sales gross profit here.