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Learn about different types and forms of bar financing with Ross Chanowski, the founder of NuMarket. Ross passionately shares his journey into social entrepreneurship and the profound impact small, community-focused businesses can have on their local areas. His insights reveal how NuMarket is providing a lifeline to bars, restaurants, and coffee shops, enabling them to secure the necessary funding to thrive and become financial pillars in their communities.

Facing funding issues in your small business? You're not alone. We tackle the inherent challenges of securing traditional loans, from high interest rates to overwhelming paperwork, especially in rural areas. Through personal stories and real-life examples, we uncover the emotional and psychological toll financial struggles take on business owners. Ross also sheds light on the importance of understanding regulations and information on different funding sources.

Explore the innovative concept of credits-based crowdfunding, a game-changer for local businesses. Learn how offering credits to supporters can ensure a loyal customer base while boosting financial health. Hear about successful crowdfunding campaigns and the importance of authenticity and community engagement. This episode is packed with practical advice and potential solutions to help small businesses not just survive but flourish through collaboration, proper setup, and mutual value models. Tune in to see how fostering community ties can lead to significant growth and sustainability in the hospitality industry.

Contact Ross:
NuMarket
Ross@NuMarket.co

Welcome to the Bar Business Podcast, the ultimate resource for bar owners looking to elevate their businesses to the next level. Our podcast is packed with valuable insights, expert advice, and inspiring stories from successful bar owners and industry professionals. Our mission is to help you thrive in the competitive bar industry and achieve your business goals.

Thank you to our show sponsor, SpotOn. SpotOn's modern, cloud-based POS system allows bars to increase team productivity and provides the reporting you need to make smart financial decisions.
**We are a SpotOn affiliate and earn commissions from the link above.

Thank you to our benchmarking data partner Starfish. Starfish works with your bookkeeping software using AI to help you make data-driven decisions and maximize your profits while giving you benchmarking data to understand how you compare to the industry at large.

Learn More:
The Bar Business Podcast Website
Schedule a Strategy Session
Chris' Book 'How to Make Top-Shelf Profits in the Bar Business'
Bar Business Nation Facebook Group

Send us a text

Can the proposed "no tax on tips" policy revolutionize the bar and restaurant industry? This week on the Bar Business Podcast, we dissect the potential ramifications of this policy, supported by both major political parties. We explore how it could reshape labor costs, affect tax liabilities for staff, and what specific taxes—federal income or FICA—would be impacted.

Unravel the complexities of financial management with our deep dive into front and back-of-house costs. Discover why breaking down labor and cost of goods sold (COGS) into detailed categories is crucial for identifying profitable areas within your establishment. We'll introduce you to the concept of Revenue Per Available Seat Hour (RevPASH), a powerful metric adapted from the hotel industry, designed to help you maximize revenue efficiency based on seating capacity and operating hours.

Plus, we share practical tips on using advanced financial metrics for effective forecasting and optimizing space utilization. Learn the importance of detailed financials and how to set up meaningful Key Performance Indicators (KPIs) tailored to your business needs. Stay tuned as we also provide updates on our podcast format and answer a listener's question, offering actionable strategies to help you gain a competitive edge in managing your bar business.

Welcome to the Bar Business Podcast, the ultimate resource for bar owners looking to elevate their businesses to the next level. Our podcast is packed with valuable insights, expert advice, and inspiring stories from successful bar owners and industry professionals. Our mission is to help you thrive in the competitive bar industry and achieve your business goals.

Thank you to our show sponsor, SpotOn. SpotOn's modern, cloud-based POS system allows bars to increase team productivity and provides the reporting you need to make smart financial decisions.
**We are a SpotOn affiliate and earn commissions from the link above.

Thank you to our benchmarking data partner Starfish. Starfish works with your bookkeeping software using AI to help you make data-driven decisions and maximize your profits while giving you benchmarking data to understand how you compare to the industry at large.

Learn More:
The Bar Business Podcast Website
Schedule a Strategy Session
Chris' Book 'How to Make Top-Shelf Profits in the Bar Business'
Bar Business Nation Facebook Group

Send us a text

Shawn Walchef from Cali BBQ Media shares his journey with us, from taking over a humble breakfast concept in 2008 and turning it into a family-friendly bar to becoming a digital marketing thought leader in the hospitality industry. Shawn unveils the secrets to overcoming public speaking fears and effectively utilizing free digital platforms like YouTube, Instagram, and TikTok to tell compelling stories that resonate with customers. His insights into the importance of continuous improvement in digital marketing and the power of storytelling will leave you inspired and ready to take your bar business to the next level.

Shawn delves into the concept of digital playgrounds, likening social media platforms to playground equipment and addressing the initial awkwardness that many face when creating content. With personal anecdotes of building a media company from scratch, Shawn demonstrates how dedication and persistence can lead to successful outcomes, even with limited resources. You'll discover why consistent content creation is crucial and how quality content can emerge from a blend of quantity, speed, and consistency. This episode is a masterclass in leveraging digital communication for business success while maintaining authenticity and a strong hospitality mindset.

Shawn discusses the human element of online communication and the integration of technology into bar operations. Learn about tools like Marqii and Ovation for managing reviews and feedback, and the benefits of adopting advanced systems like Toast. By sharing personal stories and the evolution of his business, Shawn emphasizes the significance of authenticity in storytelling. Whether you're a bar owner, consultant, or industry supporter, this episode is packed with valuable insights to help you thrive in the digital age.

Contact Shawn:
Cali BBQ Media Instagram
Shawn's LinkedIn
Cali BBQ Media Website

Welcome to the Bar Business Podcast, the ultimate resource for bar owners looking to elevate their businesses to the next level. Our podcast is packed with valuable insights, expert advice, and inspiring stories from successful bar owners and industry professionals. Our mission is to help you thrive in the competitive bar industry and achieve your business goals.

Thank you to our show sponsor, SpotOn. SpotOn's modern, cloud-based POS system allows bars to increase team productivity and provides the reporting you need to make smart financial decisions.
**We are a SpotOn affiliate and earn commissions from the link above.

Thank you to our benchmarking data partner Starfish. Starfish works with your bookkeeping software using AI to help you make data-driven decisions and maximize your profits while giving you benchmarking data to understand how you compare to the industry at large.

Learn More:
The Bar Business Podcast Website
Schedule a Strategy Session
Chris' Book 'How to Make Top-Shelf Profits in the Bar Business'
Bar Business Nation Facebook Group