How to lower beverage costs with BinWise
A wine by the glass (BTG) program is an important part of every successful restaurant’s beverage strategy. A recent study from the Wine Market Council and the Nielsen Company found that 44% of American adults drink wine, and more than half of those consumers order wine by the glass when dining.
Although BTG may be lucrative, it is increasingly difficult to manage well, especially for restaurants with higher volumes and a large number of BTG offerings. On average, most restaurants have a 15%-20% inventory variance for their BTG programs because sommeliers and beverage managers lack the tools to identify problems in a timely manner. Variance issues like overpouring can result in a loss of hundreds or even thousands of dollars in “lost” product in any given month
How BinWise helps
Here’s the good news: BinWise is the perfect solution for addressing problems related to BTG programs, and is trusted by restaurants all over the world. BinWise helps restaurants manage their wine and beverage programs, all on one platform, enabling them to:
- Take inventory
- Purchase products
- Deplete inventory
- Report and analyze data
BinWise is successful in helping restaurants reduce their BTG program costs by providing visibility into variances every time inventory is taken, highlighting areas that need attention. Our variance report combines beginning inventory, purchases and daily POS sales depletion resulting in a theoretical count compared to an actual physical count.
A practical example
The following data from an actual customer illustrates how using BinWise can significantly aid in addressing variance issues. This restaurant’s BTG wine program made up over half of its wine sales.
- Average inventory value of $200k
- Average total monthly wine sales of $125k
- Average monthly BTG sales of $65k.
In analyzing their inventory variances, the restaurant discovered that nearly one-third of their wine variances were caused by their three top-selling BTG wines. Further analysis led to the discovery that in addition to overpouring and unrecorded comps, the restaurant‘s “Bottomless Mimosa” was the major cause of the discrepancies, leading the team to make adjustments to their BTG program.
The result: a savings of $750/month or $9K/year.
BTG Variance Report
Below are examples of savings other restaurants have gained by using BinWise to manage their BTG program. Depending on the size and value of the restaurant’s inventory and BTG program, the amount of savings will vary.
Sample Savings based on BinWise’s Customers
BinWise is a data-driven, cloud-based platform that allows you to manage all your beer, wine and spirit programs in one place. We make it easier and faster to place orders, receive products, conduct inventory and manage beverage lists, while providing actionable reporting to lower costs and increase revenue, all within a single application. Book a demo and let us help you be more successful