> Is there a set formula to use for establishing your drink prices? I
> have been told to multiply the my drink cost by 3 and then add a
> dollar.
It really depends on how greedy you want to be and what the market will bear.
besides your liquorcost in $/oz, there are a lot of hidden cost like
spillage,theft,garnishes,glass ware and breakage,labor,taxes on and on.
thatt's where the times 3 comes in and the dollar would be profit(I quess0
> This would make a 11/2oz kahlua on the rocks cost about
> $4.25 and it would make a 11/2oz shot of cuervo tequila cost about
> $3.95. Does this sound right?
you could probably get more for the cuervo and should lower the price on the
kahlua and give 1 - 1.25oz ...just my opinion
> Also what should my target liqour
> cost/profit ratio be? I have heard that a 30%/70% ratio is what I
> should be going for. Any ideas?
again, how greedy do you want to be and what kind of clientele do you have?
some people will always complain about the price while others will pay
outrageous prices if they get the service they expect.
Visit barmedia.com for info and books or Amazon.com. I would recommend
"sucessful bar management" by Robert Plotkin He's written several books on the
subject
Dennis