According to recent research pub revenue is no longer all about alcohol. Instead many British pubs generate profits through things such as food and coffee. If you run a pub read on for some insider tips and suggestions on how you can maximise your profits simply by thinking outside the box.
If you’ve got the space for a fully functional kitchen then food is by far the most effective way to get profits soaring. Just look at M&B, the UK’s largest group of managed pubs and restaurants. This year company representatives claimed that its establishments generate around three-quarters of annual turnover from food sales alone. The benefits are there for the taking and it’s up to you to cater to the needs of hungry punters! When planning a menu think about your clientele and cater items accordingly.
Coffee isn’t just for the morning and more and more pubs are beginning to offer patrons an afternoon or evening caffeine fix. Ideally you should be investing in a proper coffee machine which can be surprisingly affordable if you shop around for a good deal. Remember, a quality brew will please your customers and allow you to charge a little more.
If you already stock a good range of spirits why not branch out and create an in-house cocktail menu? Depending on your patrons it can be as fancy or as casual as you like. It’s always a good idea to keep an ingredients list close to hand just in case bar staff forget the components.
A quick and easy way to get some extra cash in the till is to offer customers a tasty snacks menu. If you can manage it made-to-order snacks created in the kitchen are difficult to resist. For those that want to keep things really simple placing orders for gourmet crisps, nuts and other dry snacks can also work wonders.
Regardless of what you sell every cash savvy pub owner should have a specially designed insurance policy in place. At the end of the day boosting profits is important however if these are consequently gobbled up by other expenses it can soon render your efforts worthless. When you take out a pub insurance policy you enjoy the complete peace of mind that customer claims, equipment damage, stock loss, vandalism, fire, theft and more will be 100% covered by your insurance company.