A big part of our financial strategy has been to aggressively pay down the
debt we incurred when we opened our first location.
Since those early days our bar business has enjoyed a great deal of
success and profitability, and we have used those excess profits to retire
a great deal of our long term debt.
As our bar business continues to grow, we intend to continue paying off
this long term debt, and we intend to borrow money strategically in the
Another important part of our financial strategy has been leaning to
accurately forecast trends in our industry, and seasonal issues that
affect the bar and restaurant business as a whole.
One way that we have effectively dealt with the slower winter season is
the aggressive marketing of gift certificates for our restaurant and our
live music venues.
This strategy has allowed us to enjoy a great deal of additional business
as those who come in to purchase our gift certificates stay for a drink or
a bite to eat.
Cost cutting measures have also been an important part of our long term
financial strategy, and as our company has grown we have used our
additional buying power to negotiate more favorable prices and payment
terms with our suppliers.
We have also embarked on several mutually beneficial relationships with
local, regional and national manufacturers of beer, wine and spirits and
we intend to aggressively pursue more such relationships in the future we
feel that these relationships can help us further grow our business while
keeping our costs low for our customers.