The world is a mysterious place. However, one of the safest and most consistent ways of improving the income of a hotel, restaurant, sports team — anything, really — has been to sell alcohol. Folks have been gladly willing to pay 75-percent markups on booze since the first bottles were brewed and fermented back in the day.
Apparently, however, the sale of beer and wine remains a mystery at the University of Minnesota.
The school began selling the booze at Golden Gophers football games for the first time during the 2012 season. However, according to CBS Sports, Minny actually lost more than $16,000 on the year despite hauling in a whopping $900,000 in the team’s seven home games.
How does that possibly happen? How is money lost trying to sell beer and wine to thousands of college football fans who want nothing more than to drink beer and wine in the first place?
It’s pretty simple, actually.
Right off the bat, half the money went to Aramark, the company originally contracted to sell the alcohol in the stadium. Thus, the school was only looking at $450,000 with which to pay off expenses from the sales — extra security was necessary for the drunk tankers and safety equipment was added around the stadium, to name two examples.
Luckily, most things bought were one-time expenses, so a profit is more likely in 2013, but still.
College football fans everywhere need you to make this work (i.e. make it profitable).
If it doesn’t, how can we persuade schools across the country to start doing the same thing?