Your bar is a well-oiled machine. You take regular liquor inventory, created a creative and profitable beverage menu, and identified ways to reduce your sitting inventory. But small details can always slip through the cracks, like keeping track of price fluctuations for every product you order.
At BevSpot, we aim to create products and features that make a measurable impact on your bar or restaurant’s bottom line. The new Price Tracker feature does just that. Being able to track vendor pricing changes over time will allow you to make better buying decisions, negotiate contract pricing with your reps, and ensure you’re charging your guests the right amount to increase profits.
The Price Tracker lists the starting price, ending price, total spent, and the change in total spent for all of your items in your BevSpot account. Most importantly, the tracker identifies how much a price has changed over time. Did that case of pinot noir increase by 11% over the last quarter? Did the box of chicken thighs really decrease by 3% over the last month? Now you know, so you can make better decisions about reorders or adjust your menu prices to increase profitability.
The Price Tracker is now available in the Standard and Pro plans for both BevSpot Food and BevSpot Beverage.
Haven’t tried BevSpot yet? Get your hands on the Price Tracker (and other cool features) for free for 14 days now.