Bar Financial Issues
Your bar is more than just a bar - it is a business. Many bar owners are very proficient at running the operational end of their bars, but need help in running a successful business. One of the most common mistakes independent bar owners make is neglecting to run their bar as a business. You already do a lot to keep your bar running every day - managing your employees, employee training, handling marketing and advertising, creating and implementing promotions, building relationships with your customers, controlling your pour and overhead costs, and looking for ways to prevent employee theft. But are you also doing what an owner should be doing - creating your marketing plan, managing your P&L, staying on top of your cash flow, and interpreting your financial numbers? If you don't handle the business end of your bar, who will? This section will help you become better organized and develop a better understand of the financial part of operating your bar so that you can run a more profitable and successful business.
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