The epoch of bars and consumers' sophistication for artisanal spirits is growing in the local scene. At least one new bar opens every month. However, there are legitimate reasons why the number of bars is spiking high.
Singapore's bars are now topping the global list in the international scene. But before you jump onto the cocktails and whiskeys bandwagon, make sure you're aware of the three winning tips.
Win #1: Passion meets Business
If you’re thinking of starting a bar, there are a couple of things you’ve got to keep in mind. Whether you are a first-time entrepreneur or experienced professional, better keep your reality check button on because the overall costs of opening a bar isn’t a small sum. Aside from the massive renovation costs (remember people come for the atmosphere, the aesthetics and the Instagram-worthy drinks first), the rental alone takes up a big chunk of costs that bar owners need to take into account. Manpower is another issue that will eventually contribute to your headaches.
To make sure your passion for this venture is profitable enough, you’ll have to continuously evaluate whether your business plan is pushing towards sustainability.
Your business plan should cover all grounds. Some quintessential questions you should ask yourself are:
Decide what type of bar you want to open
What kind of concept are you going for
Who are your competitors
Where are you going to locate
Who are you going to hire
What are you going to have on the menu
Where are you going to get your supplies from
No more headaches over staffing!
FoodRazor eliminates the need for your staff to key in invoices manually, ultimately saving time so that they can focus on their duties at the front-of-house or in the kitchen. How do we do this? With a snap of a picture, our platform digitizes the invoices accurately by line-item within 24 hours. You get the job done without extra staffing costs!
Win #2: Details Matter the Most
The details and effort you put into your bar are what differentiates you from the rest. The selection of whiskey, gin, or the type of cocktails your bar curates defines what people remember you for. Some bar owners focus on customized glassware, staffs' uniform and even scents to create a unique ambience.
The selection of rare bottles of fine spirits and campaigns also brings a different crowd to your place. People that seek something less general, something that they can’t get anywhere else. The bar's decor is another key aspect that can attract more people. Have a loud signboard or a chill area that’s nicely decorated in tandem with your bar’s concept. Give the people a space to take Insta-post, Insta story etc and get the word-of-mouth marketing that can do your bar wonders.
Choose the details you want your bar to be known as and perfect them so that you leave an impact on your customers. The goal is for them to want to come back because of what your bar has to offer.
Win #3: Technology is your Best Friend
Technology is designed to make life easier, and when it comes to running a bar, it also means a positive impact on your revenue. Running your bar with the latest bar equipment is a measurable way to drive profits.
For example: when you are serving high-quality cocktails that require different types of ice cubes, a dispenser that creates the kinds of ice you need, all within arm's reach, can allow your mixologist to create speciality (more expensive) drinks at a quicker pace.
A large block melts much more slowly than many small pieces, holding a drink at a constant, lightly-chilled temperature and slowing the speed at which your Glenlivet 18 turns into a glass of premium Scotch-flavored water.
Some technological tools you can think about adopting are:
Digital menus and tablets
Digital payment methods
Invoice, order and inventory management software
Delivering the best bar experience to your customers isn’t an easy task. To anyone looking to jump into the artisan drink industry, better not dive right into it without the proper planning.