How to Maximize Sports Bar Profits
Without having a strategy in place to maximize profits, your business has little chance of success. It’s crucial to learn the techniques that attract customers to your business, along with employing the correct tactics to keep them coming back for more. If you’ve been looking for some fresh ideas for your business, check out our tips on how to maximize sports bar profits.
Use Special Events to Profit
As a sports bar owner, you can increase profits by creating special promotions during all the major sporting events. Everyone loves a bar filled with a cheering crowd that’s rooting on their favourite teams. By creating unique and exciting theme nights that offer discounted drink and meal promotions during playoff seasons, you can create a buzz and an engaging experience for your guests. Just don’t forget to plan your staffing accordingly – people will only return if you provide exceptional and timely service.
Focus on Ratings
The best way to boost your profits is to be known as a leader in the service industry. This involves having excellent ratings throughout online customer review platforms such as Yelp, TripAdvisor, and FourSquare. And you can easily boost your ratings by taking a few moments each time to respond to both positive and negative remarks in a professional and courteous manner. Online reviews are a big deal these days and can really help or crush the reputation of your sports bar, so make this a priority. If someone makes a positive response, thank them and take the time to invite them back. If someone has had a negative experience, apologize, explain, and offer to solve their issue.
Have Social Media Platforms
Many businesses only advertise in magazines and newspapers, but they end up losing out on the massive marketing opportunities available through social media. So make sure to create a business account on TripAdvisor, Google, Instagram, Twitter, and Facebook to increase your visibility to the public. Then use these platforms to promote all of your latest events and promotions. Just don’t forget to engage with your audience as they can help tell you what they like and what they would like to see more of – making social media a very powerful tool to maximize sports bar business.
Hire Exceptional Staff
Your sports bar is only as good as your staff. Finding the right staff is just as important as finding a reliable manager – especially since the servers will be the ones who will interact with your customers the most. So make sure to hire well trained and professional servers who are the best in the industry. They will help build your reputation and keep customers coming back week after week.
Whatever you do, don’t skimp on your quality. Reducing portions, or cutting corners will only turn the regular patrons off. If you need to find ways to reduce your bottom line without sacrificing quality, then consider implementing an inventory control system like Optimum Control Software. It’s an easy to use restaurant management software that can help you maximize your profits by calculating recipe costs, tracking inventory, controlling waste, and managing staff hours.
Maximizing your sports bar profits is simple when you offer the best in service, engage with your clientele, and maintain quality inventory. If you would like to find out more about how you can maximize profits with a Restaurant Management Software system, talk to us at Optimum Control today. We can help you with all your restaurant inventory and reporting needs to help drive your business to success.