What is a Bar Inventory Template?
Before trying to figure out what a bar inventory template is, let's get a handle on bar inventory and understand why is't important. Bar inventory constitutes the entire stock of your alcohol and mixers. These need to be counted and tracked regularly so that a bar owner or manager has a finger on stocks and supplies at all times. In the restaurant bar sector, running a small business or a large enterprise with multiple locations is equally taxing, but good inventory management can make the job easy. That's where a bar inventory template comes in.
A bar inventory template is basically a spreadsheet template that runs on the Google Sheets or Microsoft Excel or Apple Numbers software. It is used for inventory counts at a bar. In order to take inventory and keep track of stocks, data relating to each item is keyed into the inventory spreadsheet template by the bar management. The inventory sheet will tabulate items by type, quantity, cost, date of purchase and other criteria determined by the bar. A liquor inventory sheet for example will list a bar's liquors by type, brand name, quantity, manufacturer, price, etc. Information on any bottle can be found in seconds on an inventory spreadsheet program thanks to its quick search function.
The inventory process can be long and arduous when done manually with a pen and paper. It also ends up wasting a bartender or manager's valuable time. Inventory templates save time and bring order and organization to inventory management , making it an effective tool in the inventory process .
bar inventory spreadsheet
How to Use a Bar Inventory Template
A bar inventory template is a tabulated document with rows and columns that can be filled with details of your bar inventory . Here's how to use it for inventory counts . . .
bar liquor inventory list
- Section your bar inventory and the inventory template according to item type. Maintain a separate sheet template for wines, beers, liqueurs, mixers, liquors, and so on.
- Plan and design your inventory sheet with the information you need to fill in, such as liquor price, variety, quantity, age, manufacturer, product serial number, etc.
- The bar inventory template can be downloaded, printed and pinned to a wall for physical inventory tracking, or it can be used directly on a laptop, smartphone, or tablet, where the spreadsheet program can can be edited and updated.
- Next comes the inventory count . Inventory counts need to be done for a regular inventory period or timeframe. You may want to track inventory every week, fortnight, or month.
- Decide on your starting inventory and ending inventory timing. The starting and ending inventory are fixed times when the bar does its inventory count . A bar typically takes inventory count once at the start and again at the end, to measure how much liquor was used and how much remains. The manual stocktake method is to eyeball every bottle and note its down its quantity in the corresponding column.
- The inventory spreadsheet should also include bottle's pour cost, which is the cost incurred to make a single drink. This is one of the most essential pieces of information needed by management to drive profits.
- Train your staff to follow the inventory process routinely and enter purchase and sales data for effective inventory management and control.
There’s a lot that goes into a bar apart from the liquor, and a competent owner accounts for it all.
Make sure you cover every asset and supply with accurate bar inventory. Start with a basic bar inventory template.
Where to Find The Best Free Bar Inventory Template
If you're looking for a good inventory template to help you manage inventory there are a couple of templates free to download off the internet. We agree, good things seldom come free, but these inventory templates honestly don't cost a dime and they do have decent features. There are several Excel inventory sheets and Google Sheets to choose from online. Here's a list of the best free bar inventory templates for inventory management -
- Bin Wise bar inventory template
- Back Bar bar inventory template
- Bar inventory template by Jot Forms Templates
- Bar Patrol free bar inventory spreadsheet
- Bar-i free bar inventory spreadsheet
Free bar inventory templates are especially useful to a small business that finds it challenging to invest in advanced inventory management and inventory control systems. They may not be able to match the wizardry of fully automated inventory systems, but they can manage inventory count and that's good enough for a start.food and beverage inventory template
Did You Know?:
- Bar and restaurant owners suffer losses of over 20% due to overpouring, spillage and uncontrolled inventory usage.
- The Covid-19 pandemic caused a 3-5% slump in U.S. liquor sales in 2020.
Digital Template Vs. Printed Bar Inventory Template- Which to Choose?
A free bar inventory template is the perfect solution for a small business working on a budget. The inventory templates listed in this article can be used on a computer, tablet or smartphone, or printed out for those who prefer to take inventory by hand. But which one's better, the printed inventory spreadsheet or the digital one?
- Digital bar inventory template
Inventory data can be directed fed into this spreadsheet on a computer or mobile device. Information for each item is entered into the rows and columns of the inventory spreadsheet and the conditional formatting feature applied to color-code sections. The digital method reduces the scope for error as calculations for bottle count and pour cost are done by the spreadsheet software, using pivot tables and formulas. You can also edit tables and adjust inventory details if needed. This means better inventory control and bar management.
- Printed bar inventory template
There are some who still prefer the clipboard method to the digital inventory template. This is more time-consuming as it requires you to physically write down all the details of the inventory on paper. It also means more time spent doing the math to track inventory and tally revenue with cost. The tiny upside to this method is that it reduces the scope of malpractice, as it's difficult to tamper with written notes, unlike the digital method, where it's easier to make edits.
Depending on the requirements and constraints of your bar, choose an option that works for you. Whichever method you choose to keep track of stocks, make sure your staff is adequately trained to use it effectively. Zipbartender Featuresbar inventory spreadsheet
Can a Bar Inventory Template Impact The Bottomline?
Imagine you're managing a bar, but you have no idea what's going into your liquor inventory or what's coming out of it. How much of your overall operational cost is the inventory using and what percentage of your profit or loss can be attributed to it? No clue?
Sounds like imminent bankrupcy.
Inventory management is crucial for the success of any bar, be a small business like a corner pub, or a large franchise. Every drop of liquor used should be accounted for in order to get a grip on sales and know how much is earned in revenue. A bar inventory spreadsheet helps organize and keep track of the numbers. It streamlines the inventory process and gives you a good idea of what's selling and what isn't from your liquor inventory . It tells you when to tweak your orders, retool your menu, and come up with new marketing ideas to offload deadstock for tighter inventory control .
The right bar inventory template will plug the gaps in your inventory management and order management systems, and make sure you are aware of leaks from theft, free drinks or mishandled liquor. When these gaps in the inventory process are fixed, you will immediately see a sharp difference in your sales and profit margins. This will in turn positively impact the bottomline and help you tap into unrealized revenue. When your inventory template is regularly updated, you'll automatically minimize liquor wastage, which will further bring down losses incurred by your business.
Bar owners are faced with the challenge of accounting for every penny spent and earned in a business.
A bar inventory template is an inexpensive way to keep track of it all. But does it still work for a growing business?
Limitations of a Bar Inventory Template
It may be the conventional way of taking stock count, and it may suit the inventory needs of a small business but the bar inventory template has several limitations which prevents it from being the ideal inventory management tool.
Zipbartenderbeverage inventory turnover
- Liquor inventory done this way is largely manual. It necessitates eyeballing a bottle, and writing or typing its inventory data into a Microsoft Excel or Google Sheets document.
- Inventory management done with a spreadsheet needs time and patience, both of which are in short supply in the bar business.
- Precision and accuracy are needed when entering data into a bar inventory template for total inventory control . But manual systems are prone to error and miscalculation.
- You need to stay on top of your inventory management at all times, constantly updating data on usage and supplies and doing the math to make sure the numbers tally.
- Spreadsheets like Microsoft Excel or Google Sheets for inventory management cannot be integrated with POS or other management software, so you will have to manually do the math.
- A growing business will need a larger inventory which inventory spreadsheets will be unable to handle.
What's Better Than a Bar Inventory Template?
Free bar inventory templates have their uses, but their limitations far outweigh their benefits. Bars keen to scale up, streamline their operations and ratchet up profits need to rethink inventory management. They need to look at fully automated inventory management systems that can do more than manage inventory counts. These are software solutions that won't just help inventory shape up, but give a bar the makeover it needs.
wine inventory spreadsheet
- Inventory software systems work in tandem with barcode scanners and Bluetooth weighing scales to achieve precision in stock count. You no longer have to spend hours on bar inventory noting down every detail and bottle measure. A barcode scanner transfers a bottle's details directly to the inventory software while the scale automatically sends up its reading.
- The technology takes care of inventory management with a few simple clicks, no matter how large or small the stocks.
- Inventory software also enables shelf-to-sheet counts, allowing inventory data to mirror the exact location of liquor on shelves.
- Inventory software issues alerts on low-stock and deadstock, and can be integrated with the order management and sale point system of a bar to automate vendor orders when par levels are reached.
- By crunching inventory data, the software's artificial intelligence recommends optimal menu pricing, based on demand and supply.
- Reports and forecasts are auto-generated with actionable insights that help a business stay ahead of the curve.
- Being cloud-based, inventory data can be accessed via an app on any mobile device, any time.
You’re just starting out in the bar business but you don't have the money to invest in a sophisticated inventory system.
You could begin with a bar inventory template that’s easy to use and won’t cost a dime.