Learn how Brendan’s Irish Pub reduced bottom
line costs by 40% with Sourcery.
“Using Price Alerts, I was able to make quick and easy changes to the restaurant’s menu by eliminating ingredients when the prices were higher, saving the business a significant amount of money.”
Dan Margolis, General Manager, Brendans
Brendan’s Irish Pub + Sourcery = 40% Savings
Brendan’s Irish Pub is a popular and successful eatery with three
locations in Newbury Park, Agoura Hills and Camarillo, California.
Saved in one quarter thanks to price alerts
Saved on accounting costs
Reduced bottom line costs
Prior to turning to Sourcery, an AP and AR solutions provider, manager Dan Margolis stated he felt as though he was “flying completely blind” when it came to making changes to inventory and stock purchases to keep costs down.
After implementing Sourcery solutions, Margolis was able to see significant savings across the board, leading to more revenue and profits for the restaurant.
Brendan’s Irish Pub had several issues that Sourcery assisted with. The first had to do with the cost fluctuations of the food the pub used in their recipes. For example, the cost of certain ingredients, such as Brussels sprouts and bacon, were lower during certain times of the year. Unfortunately, restaurant owners and managers, such as Dan, may not be aware of these price fluctuations. This may lead to them to spending more on an ingredient without adjusting the price of dishes containing the item on their menu. This led to an imbalance and, in some cases, a loss of money.
Another issue was the cost of accounting. Before introducing Sourcery as a helpful solution, the restaurant was spending over $3,000 per month on the services of an accountant and an invoice process admin. These high costs related to the books were a real drain on the restaurant’s profits.
With Sourcery, Dan had the ability to select from a wide array of features, from online bill paying to invoice storage and data tracking to creating a customized solution that fit the needs of his restaurant.
Dan was now able to gather important data, thanks to the price-tracking feature on Brussels sprouts and bacon. He saw that over time, the price of bacon steadily rose, from just $50 in April to $96 by the time September rolled around. With this information in hand, Dan was able to make quick and easy changes to the restaurant’s menu by eliminating this ingredient when the price was higher, saving the business a significant amount of money. This was true for a number of other ingredients, as well.
For example, when Brussels sprouts were available for lower prices, according to the data tracking information provided by Sourcery, Brendan’s manager could add them to more dishes and promote them to customers, all while saving money. Changes to the menu are much more affordable than overspending on ingredients that aren’t always needed.
Additionally, the pub began using the accounting services offered by Sourcery. Sourcery cut their bill from $3,000 per month to $1,800 per month, a savings of 40 percent. This, along with the saving money on certain ingredients or eliminating them altogether, allowed Brendan’s Irish Pub to increase their profits significantly.
Smart Solutions for Significant Savings
By implementing the tools offered by Sourcery, Brendan’s Irish Pub was able to reduce costs, negotiate with vendors for better deals on ingredient essentials, and provide a more streamlined accounting process to their company. These solutions are suited to help any restaurant struggling with the high cost of acquisition, accounting services and by offering customized solutions based on the needs of the individual location.
According to manager DanMargolis, “Cash is king, but data is God”. It is clear that these savings were able to help Brendan’s Irish Pub make necessary changes to reduce spending. While also increasing profits and revenue.
Sourcery can provide the same savings and benefits for restaurants of all types and sizes throughout the country.
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