Quarterly Benchmarking for Bar & Restaurant Owners with Jordan Silverman to Boost Your Profits

The Bar Business Podcast: Smart Hospitality & Marketing Secrets For Bar & Pub Owners

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This week, we are joined again by Jordan Silverman of Starfish to discuss the current state of the industry and break down the new updated quarterly benchmarking data that we get from Starfish.
We cover several metrics from revenue to utilities to specific food and beverage costs. From the nuances of contribution margins to understanding how location affects cost structures, we equip listeners with the knowledge needed to enhance profitability and make informed decisions.
Utility bills on the rise and the impact of third-party delivery services present unique challenges for bar and restaurant owners. We explore inventive solutions to manage these issues, from optimizing inventory to scrutinizing utility bills, ensuring businesses remain profitable. As we dissect the ripple effects of third-party services post-COVID, we spotlight the importance of analyzing historical sales data to anticipate changes and effectively manage resources. Join us for a comprehensive look at strategies to navigate this complex economic landscape.

Thank you to our show sponsor, SpotOn. SpotOn's modern, cloud-based POS system allows bars to increase team productivity and provides the reporting you need to make smart financial decisions.
**We are a SpotOn affiliate and earn commissions from the link above.
Thank you to our benchmarking data partner Starfish. Starfish works with your bookkeeping software using AI to help you make data-driven decisions and maximize your profits while giving you benchmarking data to understand how you compare to the industry at large.
Learn More:
The Bar Business Podcast Website
Schedule a Strategy Session
Chris' Book 'How to Make Top-Shelf Profits in the Bar Business'
Bar Business Nation Facebook Group
A podcast for bar, pub, tavern, nightclub, and restaurant owners, managers, and hospitality professionals, covering essential topics like bar inventory, marketing strategies, restaurant financials, and hospitality profits to help increase bar profits and overall success in the hospitality industry.

Bölümler

1. Bar Business Podcast on Benchmarking Data (00:00:00)

2. Analyzing Restaurant Costs and Benchmarking (00:04:05)

3. Trends in Utilities and Prime Costs (00:17:12)

4. Comparing Food and Beer Costs (00:27:14)

5. Labor Cost Trends in Bar Industry (00:32:53)

6. Impact of Third-Party Delivery on Margins (00:41:40)