The key to increasing the profitability of any bar is being able to sell drinks at the highest possible profit margins. And some of these drinks are cocktails made with premium spirits. For that reason, it is absolutely essential to create an engaging and inspiring cocktail menu that encourages your customers to order a cocktail instead of just placing their usual waiting order. If you are looking to increase profits you need a good cocktail menu.
In this post we want to give you some tips that can help you increase the profitability of your cocktail menu.
RESEARCH YOUR MARKET
The starting point for a successful cocktail menu is understanding what your customers are looking for, as well as knowing what your competition is offering. Your goal is to give customers what they want and offer these drinks in a way that helps you stand out from the crowd. You don’t need to hire an expensive consulting firm to do this research for you: if you already have a list of email subscribers, you can simply reach out to your customers directly and ask them what they’re looking for in a cocktail experience.
Involve your entire team in creating a successful cocktail menu. The natural inclination is to turn to the head waiter or mixologist and ask them to come up with something new and interesting. But keep in mind: your bartenders will need to explain these drinks to customers, and other members of your team will be involved in ordering the ingredients and buying any custom glassware or other items needed to make the cocktail. So there has to be a balance .
CALCULATION OF THE PROFITABILITY OF THE COCKTAIL RECIPE
For the standard beer, wine and other beverages on your bar menu, you probably already have a good idea of their overall profitability. Generally speaking, spirits offer higher profit margins than beer, and beer offers higher profit margins than wine. But where you really need to do some math is when it comes to cocktails. You must estimate the cost of pouring each spirit, ingredient, and garnish involved in making a drink. For that reason, it may not be practical to use ingredients that are “out of season” during certain times of the year, simply because you will be paying an inflated price for those ingredients.
DESIGN THE MENU
You can use a template to design your bar menu or you can hire a professional designer to create something particularly visually appealing. Good design can help focus customers on certain areas of the menu or draw their attention to a standout cocktail creation. For that reason, it is much preferable to work with a professional designer. Plus, a professional designer can really help your signature and seasonal creations really stand out.
CREATE DRINK DESCRIPTIONS
Drink descriptions can be literal, such as simply listing the names of the ingredients used to make the drink, or they can be enhanced to bring a bit of glamor and sexiness to any creation. Enhance the description of a drink. Highlight the geographic origin or provenance of any special ingredients you use. Use drink descriptions to excite a customer’s senses. Words like “fruity” and “spicy” are great examples of how certain terms can transform a cocktail into a multi-sensory experience.
FIND THE BEST COCKTAIL NAMES
An important step is to find a funny, unusual or brand name for him. References to historical figures or historical places are a good choice. You could also give a unique personal touch to a cocktail, simply by invoking the bar owner’s name or background.
PRICE OF COCKTAILS
There is a lot of psychology that goes into the price of a cocktail. Studies show that customers are more likely to order a cocktail when a single number is used, without using any decimals. For example, a cocktail priced at €9 will sell better than a cocktail priced at €9.00. There are studies that have shown that customers gravitate towards the number 9 in an exceptional amount. Therefore, if you are given a choice between the price of a cocktail at €8, €9 or €10, you will always choose €9.
PROVIDE DEFAULT OPTIONS FOR CLIENTS
Finally, one way to really maximize the profitability of your cocktail menu is to make it easy for customers to choose a predetermined option. Establishing categories like the bartender’s favorite or a section of popular cocktails can go a long way in guiding the customer.
And remember that if you want to add show and professionalism to the preparation of your cocktails, you can use CO2 freezers to prepare your cocktails. That will facilitate your work and become a differentiating element of your business.