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ED K | Where do you start if I would like to open a bar ? |
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 |
 
Dave
 |
What you need to do is begin with a business plan, this will act like a road map to get you from point A to point B, without one you will not succeed.
The plan should include but is not limited to:
Your mission, goal, or vision.
Then your investors:
Seed money: Parents, friends, relatives, and your own money, savings, etc.
Then secondary sources:
Angel investors.
but most only like to finance technology or products other than service orientated businesses because of failure rate.
Remember: if you get investors--what are you willing to give up?
Then you would need to apply for licenses. liquor, heatlh, etc...sign leases.
Of course you will need a location. With a location in mind you will then have to think about who your competition is. What bars are around that are doing what you will be doing and how will your place be different from theirs?
Opening up a business is a big job, and the category of business you are thinking about has a very high failure rate. Because of this I would learn more, not through this type if information gathering, but with people that actually have opened a bar.
Talk to suppliers, and see what they say. They are one method of financing too.
Good luck,
Dave |
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VATreasures
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Get a lot of money, most businesses fail due to a lack of money for capital rather than losing money. Then find a good location. Once I had found the location I would start working on the Liquor license. |
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doktordbel
 |
Maybe work for someone who has one for a while and get an idea what is involved in the day to day running of the business. |
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jjbeard926
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Figure out your funding first. You need to know where your money is coming from. If you have the cash to get started then write your business plan out including projected profits and expenditures.
If you need to borrow money to get started, you might want to get assistance if you haven't written a business plan before. A contract attorney can help you with that or a business planner. |
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GreenBeansRevenge
 |
1. plan your bar, what's unique about it. how will you decorate, what special food or events will you have.
2. Make sure you can get a liqour liscence.
3. find a place.
4. do the math ie rent, supplies, furniture etc.
5. get a loan if your not independently wealthy.
6. Quit drinking
Start with planning and go from there. I hear that the majority of bars don't work out. Sorry to worry you but it's more of a dream thing than a good business venture. |
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dude
|
the business has one of the highest failure rates and lowest returns of any. i have been in the industry for 25 years. i owned my own, but found that legal issues and lack of trust-worthy employees made it impossible for me to take anytime off. it is a very easy business for employees to rob you. i find i make more money and have a better quality of life now that i work as a manager at a resort. but the first thing you need is experience, never lease from an existing owner because you will end up working for nothing, have a lot of money to live on while you build your clientele. don't be your best customer. nothing is on the house, it will encourage your employees to steal. have a good attorney. hire an accountant with experience in business planning to help you get set up, make sure you are not getting ripped off, and to help allocate your resources for best usage. good luck. feel free to email me if you really want. there are too many things to write. |
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mikia
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Business Plan |
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nvamshidhar
 |
near by huge group of people where they used when the go fo rget together. |
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Stacy R
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find a site and apply for a liquor license |
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wanderer9782
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No easy answer. It all depends on your local jurisdiction, state, county and sometimes town. Buying and existing business is the easiest. Otherwise you are looking at a lot of government red tape. Talk to your local chamber of commerce or state authority that handles liquor operations. |
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kiran k
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Survey the market first and then later take next step |
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Brandon
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You have a lot of prliminary things to do first. Of course find a location. This is perhaps the most important aspect asd it can influence your chances of getting a liquor license. For instance, in Michigan, if you are within 1500 feet of a school, hospital, or church, you WILL be denied a liqour license. If you get a great location, the liquor license is just a matter of time and money. From there, you build your building, find suppliers, a POS & entertainment company, and advertise.
Visit the link below for an article from Entreprenuer magazine. |
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