Too much of our cost is going to marketing. I don't think it is working.
Food businesses are not hit-and-run businesses. We don't finesse people to buy a new Iphone every year. We are selling the same thing, on a daily basis.
It's hard to finessess people to keep coming back, If we are spamming them with events and discounts. Why would anyone come on a normal day?
What sustains all food businesses is regulars, and you don't need too many. You only need about 700 regulars. Suppose they visit bi-weekly for 2 drinks.
1,400 total monthly visits × $60 spend = $84000
It is the idea of 1,000 True Fans" theory (Kevin Kelly). A bar never needs to pander to the crowd. It only needs to select 1000 people to delight and surprise.
These 1000 people, are your true fans, and they don't exist in a vaccum. They will tell their friends about you, they might bring their friends even. "word of mouth" still remains the most powerful marketing method.
Let's focus on delighting the people at the venue, not forcing them to look at instagram ads.