The margins in the restaurant and bar industry are razor thin. According to data from Toast, the average profit margin for a restaurant is between 3-5%. There’s no room for error, and in order to really succeed, everyone needs to be on the same page. Getting everyone on the same page can be difficult though, as different contributors to the business can be incentivized by different things. BarMinder makes it easy for ownership, management, and staff to all align their incentives, and work on the same page.
From ownership’s point of view, profit is king. Not much else really matters, as long as the bottom line continues to grow. Whether that growth comes from inventory management solutions, staff retention, money saving, or anything else that’s able to be seen in the books, it needs to happen for owner satisfaction. How does BarMinder do that? Increasing bottom line in all aspects. In just 5 months of testing, BarMinder increased Revenue Per Ticket by over 18%. When drinks are poured properly, customers will more than likely order more than just one. This goal from ownership doesn’t need to be separated from management though, as they are very similar.
Management’s KPI king is customer satisfaction. If customers are happy and continue to come in, they know they’re doing a good job. But that all falls within ownership’s wishes. Ownership wants more profit, management wants happy customers. Those are one in the same. Sort of like the chicken and the egg. The best way to create happy customers is having a consistent customer experience every time. Food tasting the same, and drinks tasting the same, no matter who makes them. BarMinder can ensure those premium cocktails taste the exact same each and every time a customer orders them. Happy customers spending money drinking tasty cocktails also leads right into the goals of the staff.
Your staff wants to make more tip money. Ask any bartender or waiter in the country, that’ll be their answer. The BarMinder system can get that for them. Many bartenders have long thought that handing out free drinks will get them more tips. BarMinder can quantifiably point out that that isn’t the case. BarMinder has discovered that the more customers are spending, the higher their tip will be. By catching drinks that would have previously been unpaid, or catching overpours, BarMinder can deliver an increase in tips for bar staff.
Ownership wants higher profits. Management wants happy and returning customers. Staff wants tips. While these are all different points of interest, they’re all intertwined. If staff want higher tips, they need to make sure customers are happy. If customers are happy, they will continue to come back and spend more. If customers return and spend more, profit goes up. BarMinder makes all of that happen, and gets everyone on the same page. Align the goals of everyone. Use BarMinder.