COGS: OI + P – EI/S

The OH mixology laboratory is the name I choose for my bar set to be established in Sydney. The key theme of the bar will be creating a colourful laboratory which is full of light. The lighting will be essential in making the place more attractive and reflecting the beautiful beverage colours.  The level I will choose for the bar is the customer engagement with all the buying transactions being done within the bar. Self-service is the form of service the bar will engage in which entail ordering from the bar with all payments and drinking happening within. The employees will wear scientist uniforms and the safety glasses which are in line with the laboratory setting (Susanto, 2018). The bar will also offer small dishes of food and snacks which are essential in the slowing the alcohol absorption in the bloodstream. Some of the key drinks the bar will offer include wines, beers, and spirits, cocktail and even soft drinks with all of them set to align with the theme of the bar. This COGS: OI+P-EI/S will be a costing calculation formula which will be essential in guiding the purchasing strategy, preventing the behind the bar theft and manage profitability (Susanto, 2018). The signature cocktail will be the Mint-Infused Blueberry Cocktail which is included in the recipe card.

Introduction

Sydney is known for its cocktail drinks all over the world. The key focus of starting this bar business is to incorporate creativity in the drinking industry. The key inspiration in this bar is the scientific laboratory with everything aligned to the same.  Despite drinks being the main business, the bar will also offer snacks and small plates meals which have health benefsl. From research it is evident that costing calculation is essential in every business as the differentiator between success and failure, hence, a key element in this industry. The costing calculation will be helpful in the tracking the performance which will be done efficiently (Ismail, Azlan, & Mustapha, 2018).  

Name and style

OH mixology laboratory is the name I will choose for the bar. It is a type of bar which is focused on creating new tasty drinks with the use of quality ingredients (Jayne, & Valentine, 2016).

The theme of the bar is a colorful laboratory full of light. Lighting is very important in changing the perception of flavors. For example, some drinks are able to shine the full light to attractive reflections (Kseniya, 2018).

Service

Customer engagement is the level of service which the bar chooses. This is the level which entails the customers following and interacting with the employees. The focus of this level of service is to build loyalty and relationship such that when the consumer chooses to buy will definitely choose the bar. This level entails how people interact with the customers when the things are going well and their ability to handle situations which are difficult. The employers must be able to interact with the clients such that they will be coming back to the bar since they feel appreciated and at home (García, 2016). To achieve this level of service, the employees must be able so resolve conflict efficiently, pay attention to the needs of the customers and learn the preference of the frequent clients to compose of their favorite drinks and sitting position (Kseniya, 2018).

Self-service is the form of service I choose for the bar. This is the form which entails the customer ordering their drink from the bar.  The self-service is important in ensuring that the customers get an informed purchase decision.  Hence, the client can be able to ask any question pertaining the service which can be efficiently answered on the products (Riley,  Rukavina, & Smith,2016).

Uniform

Scientific uniform and safety glasses is the uniform I will choose for the employees. One of the key reasons for the use of the uniforms is the brand identity.  The brand of this bar is the mixologist laboratory which is a best method for the advertisement.  The element of trust is usually amplified through the recognition of the brand which is brought about by the effective bar wear. Also, this uniform will be important for instilling the guest confidence. The kind of uniforms usually communicates on the quality of service to the client. If they are employees are clean and polished, the clients will be free to associate with them. Finally, the employees dressing impress the customers since they are set in a more organized manner.  It is a reflection of the organization they work for which is laboratory in nature.

Since laboratory is a hazardous place, scientists are expected to wear sun glasses to protect their eyes from damaging their eyes. They also wear them to protect themselves from the infected materials. Therefore, since the bar is in form of the mixology laboratory, the sun glasses reflect the theme and the nature of the same.

Food menu

The bar will also include some food in their menu. The food will compose of the combination of lean of proteins and healthy fats. They compose of small plates, sea food, and the modern Australian food.  The choice of food is important since they are vital in slowing the alcohol absorption in the blood stream. Therefore, after drinking, the customer can be able to get rid of the alcohol breath as well as sobering oneself up. Hence, the food in the bar motivate the client to eat before drinking which is important for them to sobering-up the following day. The bar will also provide some snacks to include hot dog, pizza, chicken wing, fries, fries and sausage, veges and beef burger. The snacks are affordable, health and hlpful in slowing down alcohol in the blood stream.

Drink list

Wines

The wines list will be dominated by the following five main bottles;

1. Bogle Old Vine California Zinfandel ($12)

The drink in naturally made with farm grown grapes, healthy and affordable. This is a Red wine which makes the bar more colorful in line with the bar’s theme.

2. Columbia Crest H3 Cabernet Sauvignon ($15)

The wine is colorful, sweet, and natural made of impressive value grapes and ripe cherry black fruits. The drink will brighten the bar while still impressing the clients due to the sweet taste and colour.

3. Kendall Jackson Vintner’s Reserve California Chardonnay ($14)

The white wine has remained delicious over years due to the vast production in the vineyard. It is rich as well as finely  produced with the flavor been extracted from pears and mangoes. It is unique, sweet as well as affordable.  

4. NV Mionetto Prosecco DOC Treviso Brut ($14)

The wine is greatly chrilled on its own made of glera grapes. Its beautiful, appealing and rich in taste.

5. Jaume Serra Cristalino Brut Cava ($9)

This form of wine is usually lemon and line scented  with fine and green-apple scent. Just as the chemical reactions act, it have appealing bubbles which go hand in hand with the theme.

Spirits

1. Mr Black coffee liqueur

2. Archie rose

3. The West Winds Gin

4. 666 vodka

5. Starward Whisky

Spirit is one of the most loved drinks in Sydney as well as in Australia as a whole. Including this executive drinks in the menu will attract those who love the distilled drinks. They are usually naturally fermented and it is usually a mixture of different drinks. Hence, in a scientific laboratory, the mixing, distilling and fermentation shows a scientific combination of element to produce this specific product.

Beer

1. Victoria Bitter

2. Pirate Life IIPA

3. Nail Clout Stout

4. Feral Hop Hog

5. Feral Tusk

6. Pirate Life IPA

7. Coopers Best Extra Stout

8. KAIJU! KRUSH!

Serving a beer in a glass is a scientific reaction indication on its own due to the created head or foam. When this two appear, it is an indication of high quality clean beer which lead one to been confident in taking the same comfortably. Lacking a head usually rises queries on whether the glass was cleaned from the previous serving or whether the beer have lost carbonation. Hence, it is really important to include a beer which is highly loved in the region (Liu, Corkery & Wiesel, 2016)..

Cocktail

1. Yellow Bon Dimanche

2. Yellow Bettle juice

3. Yellow-what a Dext’l?

4. Blue Monday

5. Pink View from the stars

6. Martini

7. POV

8. Pink Parrot

9. Others

 There will be a lot of cocktails which will be offered in the restaurant which are not limited to this. All this drinks are colorful in all types of colours which make the place more colorful and attractive in nature. The rinks will be garnished by variety of fruits, flowers, leaves. Etc. The garnishes include blackberry, lime, strawberry, cherry, orange, grape, mango, apple, pineapple, flower, fruit peals, gummy bears, others.

The garnishes are importance for adding taste and identity. For example, the cherry adds some sweetness on the drink removing bitterness and also adding aesthetic value to the drink (White, 2015).

Soft drinks

1. Fresh lime soda

2. Ginger ale and bitters

3. Cranberry, lime and soda

4. Fresh juices

Incorporating this drinks in the bar will cater for the needs of those who do not like alcoholic products, hence, the needs of all people will be catered for. Also, the drinks are very essential on boosting the sales since one can carry all their friend to the place as their needs can be handled there.

Costing calculation and recipe card

Ability to manage profitability is the key differentiator between succeeding in the business and business failure (Chinchanachokchai, & Jamelske, 2015).

I will choose this as my calculation formulae to get the cost of goods;

COGS: OI+P-EI/S. With;

OI-opening inventory; the liquor one had on the shelf at the start of the week

P-purchases; the products one had bought during the week

EI-Ending Inventory; what one has at the end of the week

S-sales; what was sold during the week

After one knows the cost of goods in the week, they can understand their profitability which guide them to checking their performance which is helpful in choosing the best practices in managing their costs.

With costing 330046ccounting, one is able to manage the liquor items in place ensuring they do not inquire losses which ensures profitability. The costing accounting is a key method which is used for the proper purchasing strategy and preventing the behind the bar theft (Sofhian, 2015).

To ensure that there is proper cost accounting while still preventing the behind the bar theft, there are three key practices the bar will adopt;

Consistency in counting is the first practice which entails people counting the liquor which is essential in spotting any abnormalities in the business. Secondly, the business will adopt the weekly bar inventory which is essential in tracking any variances and in relating the sale revenues with the purchasing dollar over time (Cepoi et al…, 2017). Thirdly, the bar will also adopt the repair and maintainace issues practice which enable one to identify the preventive maintainace concerns and the surrounding facilities which may affect the profitability leading to the management of the same. Finally, the bar will also adopt the breakage book and the comp tabs which will enable us control the spill or waste due to the ability to check the usage against the sale. The comp tabs is beneficial in maintaining the control on the product usage or sold and promoted.

The cost accounting will be helpful in the choice of the proper purchasing strategy. By tracking the weekly spending, one is in a position of making spending cuts in respect with the same. The stock value will be accurate in line with the week’s purchase (Fumero, De & García-Rodríguez, 2015).  

Recipe card

Conclusion

The bar is set to bring a lot of excitement, fun and special taste in Sydney. People will have an opportunity to enjoy the natural taste of drinks mixed using the highest laboratory techniques. To ensure profitability, the practices have been set to track the sales revenue against the purchase. The bar is set to expose the nationals to different new tastes which are healthy and colorful to their eyes.

References

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Susanto, D. A. (2018). The Use Of Experiential Meanings in the Drink Labels. ETERNAL (English Teaching Journal), 9(1).

Ismail, S., Azlan, N. I. A. N., & Mustapha, A. (2018, April). Prediction of alcohol consumption among Portuguese secondary school students: A data mining approach. In 2018 IEEE Symposium on Computer Applications & Industrial Electronics (ISCAIE) (pp. 383-387). IEEE.

Kseniya, A. (2018). International beer market: drivers and challenges of development (Doctoral dissertation).

García Martínez, M. (2016). Distribution company Business Plan.

Sofhian, S. (2015). The Rationality Prohibition of Riba (Usury). Al-Ulum, 15(1), 237-266.

White, A., Brown-Johnson, C. G., Martinez, S., Paulson, S., & Beebe, L. A. (2015). Oklahoma “Tobacco Stops with Me” media campaign effects on attitudes toward secondhand smoke. The Journal of the Oklahoma State Medical Association, 108(11), 450.

Liu, F., Corkery, L., & Wiesel, I. (2016). Choosing Healthy Food in Sydney’s Inner City Neighborhoods. Procedia Environmental Sciences, 36, 26-33.

Chinchanachokchai, S., & Jamelske, J. (2015). Successes and challenges in using group-level incentives to increase children’s aggregate fruit and vegetable consumption for lunch in one Wisconsin elementary school. J Child Nutr Manag, 39(2).

Eisenberg, M. H., & Fitz, C. C. (2014). ”Drunkorexia”: Exploring the who and why of a disturbing trend in college students’ eating and drinking behaviors. Journal of American college health, 62(8), 570-577.

Roosen, K. M., & Mills, J. S. (2015). Exploring the motives and mental health correlates of intentional food restriction prior to alcohol use in university students. Journal of health psychology, 20(6), 875-886.

Jayne, M., & Valentine, G. (2016). Alcohol, drinking, drunkenness:(Dis) orderly spaces. Routledge.

Riley, E. N., Rukavina, M., & Smith, G. T. (2016). The reciprocal predictive relationship between high-risk personality and drinking: An 8-wave longitudinal study in early adolescents. Journal of abnormal psychology, 125(6), 798.

Cepoi, V., Tomšič, M., Makarovič, M., & Rončević, B. (2017). Methodological solutions for comparative research on transformations. In The Routledge International Handbook of European Social Transformations (pp. 73-86). Routledge.

Fumero, A., De Miguel, A., & García-Rodríguez, F. J. (2015). Promoting entrepreneurial potential in adolescents: A pilot study based on intergenerational contact. South African Journal of Business Management, 46(3), 11-20.