In spite of all the fiasco surrounding Brexit, small businesses and new start-ups have seen a fair bit of growth in UK, which is great news. The entertainment business continues to be one of the thriving sectors, which is why owning and managing a nightclub still remains as lucrative as ever.
Unfortunately, the segment is getting a little crowded, while the business rent and utility bills in any of the major cities across the UK are certainly not going down. As a result, it is important for club owners to be intelligent and control their operating expenses before things get out of hand.
Tackling the Primary Expenses: Shrink Your Utility Bills
Out of the many primary expenses that a nightclub manager needs to worry about, the rent and utility bills are particularly hard to manage. Food and booze can be sold and profited from directly, so every pound you invest in your supplies is potentially a short-term, appreciating investment. On the other hand, electricity, gas and rent are expenses that a club owner needs to factor in.
Due to the abstract nature of the costs, this can prove to be a particularly difficult job. The good news is that it is possible for a nightclub, or any other business for that matter, to get discounts, reduced per unit rates, credit refunds and additional benefits with the help of utility brokers like Utility Bidder.
The fact that they are not owned by any major business energy providers, but have ties to all of them, makes it easy for utility brokers to help business owners get better deals, which in turn contributes towards reducing energy expenses significantly.
Manage Your Glassware Better
If the unit and the shot glasses in your nightclub are capable of holding more liquor than they are supposed to serve, it’s a problem. The glasses might have markers on them, but the bartender will miss them at times.
Those few extra millilitres add up, meaning that this tiny glitch between theory and practice is likely costing you money every single day. Shift to measuring and shot glasses that do not have more physical room to hold any extra amount of liquid than they are supposed to.
Inventory Management is Key to Running a Successful Bar
Restaurants, bars, nightclubs, cafés, diners, etc. are all businesses that rely heavily on proper inventory management. Counting is a classic process that works like a charm, and with the introduction of an inventory management software system, you will see huge improvements in terms of speed, accuracy and waste reduction.
Brits love to party, and that is not going to change for the foreseeable future either, so well-managed nightclubs are unlikely to go out of business. All you need to do is practice a little caution with the available funds, cut down on unnecessary expenses and reinvest the saved money towards improving the entertainment, ambience and quality of the services provided in your club.