RESTAURANT WINE MARKUP POLL -> The phrase markupStart A New Topic | Reply
Post InfoTOPIC: The phrase markup
Posted By: Peter

Posted On: May 23, 2004
Views: 762
The phrase markup

In retailing the word mark-up means the profit, not the cost plus the profit. A 2x mark-up ($20) means the consumer is going to pay the cost $10, plus the mark-up $20, for a total of $30. I'm sorry if this phrase was misunderstood.
The problem I face is the food is good and known for that. The wine and beer is not so good, and known for that too, or so it would seem.
They don't sell hard liquor, as I belive there's even greater costs, and they don't want to be that kind of place.
My plan is to put some acceptable products into the inventory, then slowly drop or reduce the really low end wines served now. Once that absolute bottom of the line is gone, the "house" bottom of the line can be a fair product, and on the winelist by New Year's I'd love to see something impressive.
The current owner's invoices reflect the cost of wine to be more or less retail, due to the low volume, as the invoices all tend to have an item marked "small purchase surcharge" on them. I'd sure like to see the "small purchase surcharge" go away...