According to the main surveys, wine is one of the most demanded products in Spanish restaurants, but how to calculate the price of wine in relation to the price of meals?We can neither assign prices that are too high and inaccessible to the consumer, nor too low
To generate good sales of wine in restaurants, it must be offered in its correct vintage and a professional service adjusted to the final price of the wine. If you need to learn how to calculate this price, don’t worry. In this post we will show you the best way to calculate the price of wine for your restaurant.
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Making wine lists, 2 options for calculating the price
The most important thing when creating a wine list is that it brings a great improvement to the sales of your wines. Taking into account the location of the restaurant, the type of food offered and the purchasing power of the customer.
This menu should present the type of wine (colour), origin or production area, the name of the wine and winery, the grape variety, the price per bottle or glass. In addition, it must have a manager who takes into account the stocks of the wines and who is a good connoisseur.
Therefore, it is very opportune to offer you 2 options to calculate the price of wine in a restaurant:
1. Wine price per glass
Wine by the glass is increasingly in demand. In this case the price per bottle will be divided by 5 to establish the selling price. A bottle should produce 8 to 10 glasses of wine for sale, allowing us to cover the cost of the bottle.
This sale by the glass gives restaurateurs a positive point as it allows them to sell high-end wines. Especially since these wines could not be sold by the bottle to the same customer, thus increasing revenue by 20%.
It also gives the consumer the experience of getting to know new, high quality wines, making it possible for them to try more than one during the meal. This option will help you to attract more customers, offering a wide variety of new and suggestive wines.
2. Wine price per bottle
The importance of pricing is fundamental for the sale of wines in restaurants. Above all, because for most customers the price is the determining factor in choosing the wine they will taste. Hence, 2 methods are used to fix the price per bottle.
- Double the total price and extend the constant value, based on indirect and personal costs.
- Use an appropriate range of surcharges, according to the prices set for each bottle.
What criteria should be taken into account when setting the price of wine in a restaurant?
In general, when looking at a wine list we can notice that its final retail price is higher than that of a shop. Although it is quite possible that a restaurant is abusing prices, other factors also play a role:
- Temperature: According to the type of wine (colour, rosé, red, etc.), restaurants offer bottles of wine at the right temperature for consumption. All this, guaranteeing that it is done in the right way and with the right standards to maximise the experience and enjoyment of each diner.
- The glass: A good wine should be served in a large wine glass, made of high quality glass, which guarantees a superior enjoyment of the drink. Only a good restaurant, aware of these good practices, will not overlook this element.
- Service: It’s not just about drinking wine, it’s also about choosing the best. That is why it is important to receive the best advice from a specialised staff, who will guide you on the best option, how to open the bottle of wine and above all, how to decant it.
- Investment: To guarantee all the elements described above, restaurants must make an investment. Not only to buy the best wines, and to have different options to offer you. Also, to offer a professional service that matches the wine, with the right staff and resources.
- Updated wine list: Keeping an updated wine list will allow the waiter to offer different options to choose from to each customer.
How to calculate the price of wine
Pricing the sale of wine in restaurants is a very important marketing tool. Its fundamental purpose is to design a pricing structure that maximises the return on investment. In this sense, the profit margin will depend on the:
- Calculation according to the purchase price plus the service price. For this purpose, wine sales are made in different ways, by the bottle and at the same time by the glass. It is important to bear in mind that product selection and pricing go hand in hand.
- Each of the aspects described in the previous segment influences the final retail price. For example, if the purchase price of the wine from the restaurant is around €5 , the wine could be sold on the wine list for between €14 and €16, which is considered to be a quite adequate price. However, if it is offered at the wrong temperature with poor quality glasses, this price could be quite exorbitant for the customer.
- Also, it should be considered that a restaurant that invests in a high-end bottle of wine should calculate its profit according to the investment. Not only in the above services, but also the cost of maintenance of a wine chamber must be considered , to avoid the risk of the wine chamber being damaged by not being kept properly until a customer orders it.
If after knowing these options on how to calculate the price of wine in a restaurant you still have any doubts, please contact us. Contact us and we will be happy to provide you with the necessary support.