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First of all, I'm extremely in favor of social spots that don't revolve around alcohol. But what in the hell is going on with that price point? I would have tho
by overthemoon 7y ago
First of all, I'm extremely in favor of social spots that don't revolve around alcohol. But what in the hell is going on with that price point? I would have thought you were paying for rent + alcohol + labor when it comes to a regular alcoholic cocktail, but one of those things is missing from the equation. Is it just that it's in NYC? Is their overhead so high they need to charge the equivalent of a meal per drink, or is it a status/luxury thing? Maybe my standards are out of wack.
- qntty 7y agoYeah at the end of the day they are renting a space in NYC and not charging an entry fee. Most of the cost of drinks at a bar are for things other than the alcohol itself. Also, it sounds like they are offering expensive juices and other ingredients to make up the money not spent on alcohol.
- bpicolo 7y agoWith 15/hr minimum wages, restaurants and bars in NYC have to aim for something like 8% of revenue spent on rent to break even (meaning you need to target 50-60k a month before you begin to break even on a fairly small space)
- dagw 7y agorent + alcohol + labor when it comes to a regular alcoholic cocktail, but one of those things is missing from the equation. First of all rent + labor is by far the highest cost of those three when running a bar. Secondly the sort of alcohol most places use in most cocktails is pretty cheap, and fresh exotic fruits, berries and other ingredients can be pretty expensive. I wouldn't be surprised if the raw ingredient costs of these cocktails are basically the same as most other cocktails.