Inventory Pricing Suggestions
The inventory tools in your dashboard can help you to ensure that you are correctly pricing the products that you sell in order to make the profit that your business needs in order to thrive.
There's four pieces of information you'll need in order to see a pricing recommendation on a beverage menu item:
- Markup %: The amount that you want to charge above what you bought the product for from your distributor.
- Pour Size: What size you are serving the item (Pint, etc).
- Package Size: What size did you purchase the item in? (1/2 barrel keg, etc)
- Cost: How much did you purchase the item for?
Let's take a look at how to enter each of these pieces of information.
First, click on the "Inventory" dropdown in the left navigation and then click on the "Settings" option.
From the Inventory Settings page you can manage your desired markup, as well as some other optional settings for Inventory. You'll also want to enter the amount in ounces of any of your pour sizes that are listed in the "Pour Sizes in Ounces" section so that the system knows the appropriate sizes for these.
Package Size and Cost
You can enter package size and cost for each menu from the inventory view in any of your beverage lists, or from the inventory page itself.
Pour size is set on your menu list for each item.
Seeing Your Pricing Suggestions
Once all of the necessary information is in the system, suggested prices will show beneath the price input for each beverage.