What are some tips I can use to help improve the cost of goods sold for my bar? I'm having a big issue when it comes to my liquor cost and wine cost. Any guidance would be helpful, thanks!

Here are some tips to help you improve the cost of goods sold for your bar:

• Keep track of inventory and use bar management software to monitor sales and consumption.
• Negotiate better deals with suppliers, including volume discounts and cash discounts.
• Reduce waste by ensuring that only the freshest ingredients are used and by regularly checking stock.
• Reduce portion sizes and offer smaller pours.
• Create a happy hour menu with discounted prices.
• Educate bartenders and bar staff on proper pouring and portion sizes.
• Cross-train bartenders to be able to make multiple drinks.
• Provide incentives for staff to increase sales and reduce costs.
• Replace expensive liquors with lower cost alternatives.
• Purchase in bulk to take advantage of lower prices.
• Implement a minimum pricing policy to ensure that customers are charged an appropriate amount for drinks.