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Lonman
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 Posted: Thu Apr 24, 2008 4:02 pm |
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Joined: Mon Dec 10, 2001 3:57 pm
Posts: 22978
Songs: 35
Images: 3
Location: Tacoma, WA
Been Liked: 2126 times
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ericlater @ Thu Apr 24, 2008 3:35 pm wrote: Let me dispell a rumor that crops up here from time to time. Beverages are not a high profit item other than when one uses percentages.
Consider that a restaurant should strive for a 5x markup on food costs. I don't know what a 5oz chicken breast cost these days (wholesale), but lets say it $1.30. Then the restaurant charges $6.95 for a chicken parm sandwich. So, the percentage of profit on the chicken is only 82% as compared to the 100% profit on the water. HOWEVER, the venue made $5.65 on the chicken and $2.50 on the water. Meanwhile, the person buying the chicken parm is likely to purchase a beverage as well.
Or you might look at it this was: would you like to make a 100% profit on $1000 worth of sales or a 10% profit on $1,000,000 worth of sales? That;s what I was getting at, percentage wise, yes the sodas & waters are the highest profit margin. I also stated that a bar could probably survive if that is all they sold & sold enough of it, however that is not the case in which is where your food comes into play.
Well since 10% of 1 mil would give me $100K & 100% of 1000 would only be $2000, i'd opt for the 10%. _________________ LIKE Lonman on Facebook - Lonman Productions Karaoke & my main site via my profile!
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Tad
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Posted: Thu Apr 24, 2008 5:15 pm |
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Joined: Thu Feb 23, 2006 9:01 pm
Posts: 115
Location: Nixa, MO
Been Liked: 0 time
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dbk1009 @ Thu Apr 24, 2008 4:16 pm wrote: ...It was a restaurant AND bar, but they were very seperate. We (my wife, son, I, and a few friends), came in to eat and sing. They had a waitress for the restaurant, and a bartender for the floor. Now since most people in the restaurant are not there for the karaoke, but we happened to be, and I'm sure others were too from time to time, how can a bar account that revenue towards you? If our tab was with the waitress, and was $60+, and only $5 at the bar, the manager only sees $5 towards karaoke.
Has anyone had this problem and/or found a good solution?
The only solution to that is to verbally express that to the manager before you leave. :)
--Tad
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sidewinder
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Posted: Fri Apr 25, 2008 12:43 am |
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Joined: Sun Dec 16, 2007 8:49 pm
Posts: 1250
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Total profit for the bar/restaurant should be all inclusive. Same owner, same business.
I have already told bar owners that you can not go by what karaoke did today. And then compare it to the next week.
Add it up for the month. How much did you do totally for the entire month on karaoke night?
Was it worth doing or not?
This week may be real good and next week could suck. The next two weeks could be good or bad. A week at a time doesn't give an accurate portaryal.
You pay your bills by the month, not weekly. Evaluate my karaoke draw by the month. Am i worth keeping or not.
If it turns out that when i'm here you do an extra $4-5000 a month and you paid me $800 is that a good deal?
If everytime i gave you $1000 you would give me $5000, i would hire a million people to count out the money, because i couldn't do it by myself fast enough. 
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THEKaraokeGuy
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Posted: Fri Apr 25, 2008 9:39 am |
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Joined: Tue Aug 07, 2007 5:09 pm
Posts: 97
Location: The Great Plains
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[quote="mckyj57 @ Thu Apr 24, 2008 7:24 am If that is a problem, it is a problem created by the bar for itself. Sell water by the bottle. Problem solved.[/quote]
Amen to that!! My Thursday and Friday night gig has been handing out pitchers of water during karaoke, then complains to me that she didn't make enough money to warrent karaoke on Thursday night. I told her to only SELL water by the bottle or charge for pitchers of water. She started that last night and, low and behold, she made money. I have even told my regulars that if they don't buy anything, I wouldn't be there much longer. That helped, too. 
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knightshow
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Posted: Fri Apr 25, 2008 9:54 am |
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Joined: Thu Nov 07, 2002 2:40 am
Posts: 7468
Location: Kansas City, MO
Been Liked: 1 time
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THEKaraokeGuy @ Fri Apr 25, 2008 11:39 am wrote: ...I have even told my regulars that if they don't buy anything, I wouldn't be there much longer. That helped, too. yep... keep it simple. PAY for your entertainment, or there will BE NO entertainment! The venue's not in the charity business... and the customers NEED to understand that.
I usually tell the grumblers "can you get ANY entertainment like this without spending money?" Not for long! It's all a nunbers game!
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