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Subject: Re: drink pricing
From: Estefon
Posted: Sun Mar 14. 2004, 23:33 UTC
Followup to: "drink pricing"  by Ruth L. MacMullen  (Sun Mar 14. 2004, 17:44 UTC)
HI Ruth,

The previous two posts are correct.  There are a lot of factors that go into 
pricing a drink. 

Another simple way of seeting drink prices is based on the cost of each 
ingredient, added together and divided by the desired cost percentage 
consistant with your market.  Typcially the cost of a drink is 18-25 percent 
of the selling price, or a 5 times markup.  Beer and wine run higher at 33-50 
percent (3 X markup).

Here's an example.

Say I bought a liter of Absolut at $15 per bottle.
A liter is 33.8 oz and I'm pouring 1.5 oz in each drink. I'll immediately 
knowck that number down to 32 oz to account for spillage, waste and theft.

33.8/1.5=21.3 shots per liter.

$15/21.3=$0.70 

so each shot I pour costs me 70 cents.  Add 15 cents for costs of 
miscellanious supplies (i.e bevnaps, straws, garnishes, etc) and that comes to 
85 cents.

$0.85/.20(my desired pc)= $4.25 per drink.  

This is not a science!  At most, you'll get a rough estimate of what to 
charge.  Every liquor bottle will cost you differently each week.  Every bar 
has different expenses and therefore different costs agendas.  A bottle of 
Absolut will cost different than a bottle of Stoli, yet you'll probably sell 
them for the same price.  I hope you're seeing my point here.  You just asked 
for a formula, so I gave you one. :-)

Steve
www.barspooge.com  


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