Revenue Growth At Bar-i Intelligent Inventory Continues Above 50%

Revenue growth at Colorado based liquor inventory services firm Bar-i intelligent inventory remained above 50% in the first quarter of 2012. Revenue growth at the firm in 2011 was 52% and this has continued during the first three months of 2012 with growth of 51%.

Bar-i intelligent inventory provides liquor inventory software and full service liquor inventory audits to bars and restaurants. The firm was formed in 2008 by Scott Douthitt but has existed in its current form since early 2009 when co-owner Jamie Edwards joined. Douthitt has strong hospitality industry experience; with a degree in hospitality from Penn State and over a decade's experience running one of Colorado's best known bar/ restaurants The Red Lion in Vail. Edwards was recruited to augment the firm's skill set and brings financial and programming expertise having joined from top tier financial services consulting firm Oliver Wyman.

Initially Bar-i offered a full service liquor inventory system to bars and restaurants in Colorado. They recently begun distributing their services nationally with the development of their hybrid speed-count inventory system which was launched in early 2011. The new system claims to offer the same performance benefits to clients but is around half the cost since users perform their own inventory counting before submitting raw data to Bar-i remotely via email for analysis. The firm states that they offer ‘the easiest way for bars to compare the number of drinks poured with the number sold' as well as other benefits such as pricing optimization and reducing the quantity of capital which bars typically have tied up in their inventory stock.

Owner Jamie Edwards stated, "We are delighted with the results which we've seen in the first quarter of 2012. On the back of a strong 2011, we felt we had our work cut out to continue the momentum but these results are very encouraging." When questioned about the drivers behind the impressive figures Edwards comments, "The main factor which is driving our success is the value we are providing our clients. Full service liquor inventory solutions have become popular over the past decade as they provide a more granular performance picture for bar owners and operators. Our hybrid speed count inventory system delivers the same results to our clients but at around half the cost of the full service systems. Supported inventory systems also offer benefits over other software/ hardware combinations as clients enjoy pain-free implementation and the benefit of professional and independent advice on a regular basis. The combination allows our clients to reduce their liquor costs by more than 3% on average." Full details of Bar-i's speed count liquor inventory system can be found at www.bar-i.com