If you don't do your costings properly, you won't make any money which makes all of your extra effort a waste.
Extra costs: prizes, additional staff, reduced price offers
Offer
Once you have added up all the costs, don’t fall into the trap of thinking that you have to take this amount in extra takings to make a
profit. Your additional takings not only have to cover the costs of your promotion but also pay for the drinks sold to raise it. To work this out
you should include the gross profit margin you would like to make.
Example:
…if your event is going to cost you £75 and you want to make a 42% gross profit you should be looking to take £149 in your till to cover costs. If you would normally take £200 on the night you are running your event you should be looking at taking an additional £149, £349 in total on the night (15% VAT).
