3 ways to cut costs at happy hour

photo by pink sherbet

Do you enjoy happy hour? I sure do. It’s a fun way to get to know your co-workers and end a long day of work. That’s why I wanted to make happy hour more affordable and I came up with these ideas.

Before I get started, a word of caution. These tips are only half of the battle. They can help you save money, but they will only work if you can convince co-workers to give them a try. On that note, I’ve also included a few suggestions for how to pitch the ideas creatively. Here are some three ways you can cut costs:

1. Occasionally go to new places (like hotels and lounges)

People often choose bars and restaurants because that’s where happy hour is supposed to be. But a change of venue can be refreshing and help you cut costs.

I can speak from my own experience in San Francisco’s financial district. Near the office, there were a lot of restaurants and bars in walking distance. But just a few blocks away were some nice hotels, lounges, and Chinatown. These places were often nicer, less busy, and came with substantial discounts. All I did was call ahead to check on specials and make sure there was enough room for our group. It was a classic win-win.

Of course, there is a reason why people don’t to this…it’s because the extra hassle of walking deters a lot of people. In my experience, the biggest problem was that some people opted out, particularly if their transit station was en route.

How can you get people to try a new spot? Some people will enjoy saving money. Others are more interested in the novelty. For everyone else, I would suggest a strategy of show and tell. Take a few pictures of the nicer places you try out and share them with everyone the next week during lunchtime. While this won’t work on everyone, it will help some people realize new places are worth a try.

2. Occasionally have happy hour on another night

While Friday afternoon is the conventional time to meet, there is nothing stopping you from trying other nights. One of my friends has his happy hour on Wednesdays as a break in the middle of the week. The best part is he comes home early on Friday much to the pleasure of his wife.

While many happy hour specials are geared for Fridays, there are places that offer even better unadvertised specials during the middle of the week. Often it’s a chance to try a house specialty or a chance to get to know the bartender. I once went to a bar on a Wednesday and since it was empty the bartender poured me generous samples of beer. He wanted to know what I thought of the new imports before he served them to regular customers during the usual happy hour.

Getting people to join you will be even harder than trying a new place. Some people don’t like to break their workweek…and others will worry it won’t save money because it will become an additional happy hour. One way to make the idea float is by feeling out if someone hard to reach is interested (like a traveling executive or a partner). It is always fun to network with new people, and having a distinguished guest may attract more of your co-workers.

3. Have happy hour at home occasionally (or possibly in your office)

It is always funny to hear people say they can’t save as they drink a $4 coffee or a $10 martini. I’m fine with paying for drinks at bars, but when money is tight, it is certainly an area that I can cut back.

Because bar drinks are marked up two to three times their retail cost, hosting your own happy hour has a potential for massive savings.

Another way to think about it is that drinking at home can give you more quality for the same cost. Consider that Coors Light usually costs $2 to $3 at happy hour, versus some of the world’s best beers cost about the same per bottle (my recent delights are La Fin Du Monde and Victory Golden Monkey). To some extent, the same principle can work for wine and liquors. This is one of the best ways to enjoy goods at your highest affordable living standard. You won’t be saving money, but you’ll certainly be living life to the fullest.

There is a fair amount of work to hosting your own happy hour, but it’s all within your capacity. You will need to send out an invitation or e-vite, collect some money (or have the party rotate), buy the drinks and snacks (or ask people to bring), and let the good times roll.

(Some other good ideas are set TVs to entertaining channels, have decent music, have party games, have extra chairs, and set a time limit so people don’t stretch out their welcome…for more, see this e-how article)

The main obstacle is finding a location. If some people volunteer, or if you can do it, that is great. But in the absence of that, see if your office is a possible location. I would definitely ask in advance because some offices have policies against alcohol on their property. But others don’t mind if it’s after work and somewhere out of the way, like a break room or a cafeteria.

This tip is the hardest to execute, but it has the highest potential reward. Even if you get it done once a quarter or once in a year, it will be a nice change and a will help you save.

What are your tips?

I got the conversation rolling and now I want to the great ideas you have. Have you had happy hour in an unusual location? Have you had happy hour on another night? Have you hosted your own happy hour? What drinks are the best value at the bars? How did you get others to agree? How much did you save?