T Nation

Free Floating Bar (Drink Prices)

Hypothetically of couse :wink:

If a bar put on a night where the price of drinks changed depending on the amount of each drink being bought… basically exactly like a stock market… some going up, some going down…

Would you go?

Scott

Hell, yeah, and I’d buy tequila collins’s all night. They’d be dirt cheap. No one buys those.

[quote]malonetd wrote:
Hell, yeah, and I’d buy tequila collins’s all night. They’d be dirt cheap. No one buys those.[/quote]

If you are the only person buying(demand would be low) I belive the price would be high…

TO the OP, I think this has already been started at a bar. They have beer on tap at each table. The patrons can decide between mulitple beers. As more of any particular beer is bought, the price per unit goes down. The price is digitally displayed on each tap.

Of course it is not just the amount purchased that dicates the cost. Other facotrs especially the cost of the beer are factored into the tap price.

I saw on the news or something recently.

As for the question… it sounds like a cool idea but it is not a deal maker!

Yea i know of similiar idea being done in differnt places… but it seems that the whole bar is designed around the idea.

im talking about if the bar you regularly go to put something like this on one night or monthly… would you go along and try to beat the drink market?

Scott

on the whole demand/price thing.

the drink(s) that are less in demand would be cheaper. the benifit to the bar being that they can shift some drinks that are never really drank, and the benifit to the customer of being able to try some randam drinks at a cheaper price than normal.

so vodka and cokes would likily be highly priced while something like drambeua would be cheap

Hell yes. The first night I would go there I would bring $20 and from then on try to beat my previous nights total while still trying to remain just as intoxicated as the last time. I’d always dress up as Gordon Gecko and scream “I have cornered the market…on booze!!” all while my drink is sloshing around and I am slurring my words.

Sounds like a night of cheap Windsor, i’m in.

[quote]thosebananas wrote:
on the whole demand/price thing.

the drink(s) that are less in demand would be cheaper. the benifit to the bar being that they can shift some drinks that are never really drank, and the benifit to the customer of being able to try some randam drinks at a cheaper price than normal.

so vodka and cokes would likily be highly priced while something like drambeua would be cheap[/quote]

until more people start buying the drambeua … the supply would begin to dwindle while the demand would begin to rise causing the price to rise all the while vodka and cokes prices would fall because demand decreases while supply is stagnant until the switch over occurs.

Of course, that’s assuming ceteras parabus. I personally think that would be a nightmare for both management and clientele alike … especially in a place like a bar. I personally would rather go to one of this “stock market” bar’s competitors where I know a beer has a constant price and I’m not going to lose my shirt over a rum and coke next time I go to the bar.

Remember the cost of anything is the price you’re willing to pay; and price isn’t strictly monetary…

[quote]polo77j wrote:
thosebananas wrote:
on the whole demand/price thing.

the drink(s) that are less in demand would be cheaper. the benifit to the bar being that they can shift some drinks that are never really drank, and the benifit to the customer of being able to try some randam drinks at a cheaper price than normal.

so vodka and cokes would likily be highly priced while something like drambeua would be cheap

until more people start buying the drambeua … the supply would begin to dwindle while the demand would begin to rise causing the price to rise all the while vodka and cokes prices would fall because demand decreases while supply is stagnant until the switch over occurs.

Of course, that’s assuming ceteras parabus. I personally think that would be a nightmare for both management and clientele alike … especially in a place like a bar. I personally would rather go to one of this “stock market” bar’s competitors where I know a beer has a constant price and I’m not going to lose my shirt over a rum and coke next time I go to the bar.

Remember the cost of anything is the price you’re willing to pay; and price isn’t strictly monetary…[/quote]

Would you think it would make it simplier if the prices changed at a set interval… for example every 5 mins.

We would be using a simple demand/price system. rising demand = rising price and vice versa.

Scott

[quote]thosebananas wrote:
polo77j wrote:
thosebananas wrote:
on the whole demand/price thing.

the drink(s) that are less in demand would be cheaper. the benifit to the bar being that they can shift some drinks that are never really drank, and the benifit to the customer of being able to try some randam drinks at a cheaper price than normal.

so vodka and cokes would likily be highly priced while something like drambeua would be cheap

until more people start buying the drambeua … the supply would begin to dwindle while the demand would begin to rise causing the price to rise all the while vodka and cokes prices would fall because demand decreases while supply is stagnant until the switch over occurs.

Of course, that’s assuming ceteras parabus. I personally think that would be a nightmare for both management and clientele alike … especially in a place like a bar. I personally would rather go to one of this “stock market” bar’s competitors where I know a beer has a constant price and I’m not going to lose my shirt over a rum and coke next time I go to the bar.

Remember the cost of anything is the price you’re willing to pay; and price isn’t strictly monetary…

Would you think it would make it simplier if the prices changed at a set interval… for example every 5 mins.

We would be using a simple demand/price system. rising demand = rising price and vice versa.

Scott[/quote]

Not particularly … but you also gotta figure I’m not your target demographic anyways …

In the hypothetical circumstances and with supply being constant you’re strictly basing pricing on demand; just to keep some sort of order you’d have to regulate pricing and I think it would make it a little more attractive to the general bar goer to have to prices set every five minutes or so … you could predict the trends more accurately and pace yourself to save the optimal amount of money on your next drink …

I don’t think there’d be much profit in a bar like that though … like I said the cost of anything is what you’re willing to pay and most people want to pay as little as possible … i think there’d be tons of drinks sold and very low prices the trick would be to predict what drinks are low when you are buying … and buying a lot

hmm the more I think about it, the more I think I WOULD go to a bar like that … especially if it were set up like the stock market

edit: Would I own a bar like that? Fuck no … I’d go in there early when the demand was at it’s lowest, buy up all your booze then sell that shit back to you at a higher price than what I paid (and welcome to day trading)

I’m a restaurateur of sorts.

It would be a nightmare to try and predict what you need to order on each shipment.

And it would suck to be the bartender when you’re pouring beers at an even pace and then some fucking jackass orders 10 Long Islands for pennies on the dollar.

Bars exist to make a profit, not to sell cheap drinks until theyre so overpriced that nobody wants to buy them.

Cool idea, limited practicality.

lol… well im going to come clean.

me and a few buddies have come up with this concept and are going to approach are student union to see if we can put this event on.

The drinks will change price depending on the amount sold over a set period. prob 5/10mins.

so for example if in the first 5 min slot 200 vodkas are sold and then in the 2nd 5 mins slot 150 vodkas are sold then the price of vodka will decrease for the 3rd slot. but then in the 3rd slot if the amount sold increase, then the price will increase again.

we are yet to work out how to exactly implement this… and how to work out how much it changes each time.

we have a contact who is a computer programmer and is willing to lend a hand for free. so we may go down that route.

we also thought that if that didnt work we could simiply use an MC. this may also add to the effect. we would have a guy dressed in a suit beside a big chalk board and hed change the prices every 5/10mins. kind of like a stockbroker.

The obvious problem is how to continously change the prices on the tills and we will strive to solve this one.

On the marketing front we have come up with an idea that is pretty unique to our uni. that is that instead of selling tickets, we will sell wristbands. this is in the hope that people will wear there wristbands about campus before the event and thus gain us lots of free publicity. we all now how peope like to wear there festival wristbands for ages after the festivals. this should keep actual PR to A3 posters, online stuff which is free and a week of door to door selling around student halls.

i also have a contact on the student radio station and we will use him to market it. running a competition with the prize being free entry.

Start up costs are looking to be something like
2500 flyers £80
200 posters £30
500 wristbands £50

and then our own time.

wem plan to charge around £5 for the wristbands and then charge £7 on the door on the night

we would simply need 40 people to buy wristbands to make a profit. and we should be able to do this within our own circle of friends anyway before we actually PR the event.

can anyone find any fatal flaws in this idea?

Scott

i also forgot to add in that there would be a upper and lower limit on drinks, so that the bar will make money pretty much no matter what happens.

also we may impose a drinks limit per transaction. the bar is already not allowed to serve more than doubles. so maybe 4 drinks per transaction.

the night would happen on a night that is usually quiet in the union. those generateing business on nights when they make a lose

the union has a night in the week when all drinks are 99p and we make a massive profit o that night.

if supply runs out then that drink leaves the board… the “company” goes out of business.

I’d suggest you never charge less than the cost it took you to buy the alcohol and never charge more than 3x the price so there will always be a chance that particular alcohol will be bought … the cost of anything is what you’re willing to pay

Set those price floors/ceilings to ensure you at the very least break even and at the most triple your money … price gouging will turn people off from this type of event in the future

black velvet and coke would be cheap…

I think it would annoy the shit out of me, and it seems like a good way to convince a drunk person that you’ve cheated him when he pays his tab at the end of the evening.

well for example a bottle of vodka is bought by the bar for close to £3. there is 27 measures in it.

that means around 10p a measure.

its illegal to sell it below 70p i think in glasgow.

most the union charge for a vodka is £2. so that will prob be are ceiling/floors… its similiar on all other drinks.

Scott

i would hate it. I would never know what my few pennies could buy me.

Look at the bright side … if you don’t open a tab you could get hammered with like 5 bucks

AND my math sucks sober. It REALLY sucks drunk.