How Much Money Does it Cost to Open a Bar
When opening a bar for the first time, there are some things you should think about before investing money. You will have to calculate the cost of commissioning, along with the cost of continuing open for a few months. Here is a list of how much money it cost to open a bar.
$ 2k- $ 4k for college You will need to take some college courses before you even begin the process of getting a loan and opening a bar. First you should take a class about building bars. This will teach you the correct way to make drinks and all the tricks of the trade. Then you will need to take some different business courses. You must be very knowledgeable about your business and this is the best way to get there. Once you have finished this, you can move on to how much money it will cost to open a bar.
Structure- $ 80k- $ 120k You will need to find an empty building or buy a reduction bar to start. Whichever way you choose, you will need to gut the whole place and start from scratch. Make the interior and exterior to be completely done again. The walls, the floors, the ceiling if necessary, the bathrooms, the kitchen area and anything else you want.
Team- $ 40k- $ 60k You can always start with the cheaper versions and improve as your business grows. Anyone who starts from scratch does this. For starters, you will need your basic bar equipment, such as glasses, cocktail shakers, blenders, dishes, sanitary ware and everything else in this area. In addition to that, you will need stools, tables, counters, bar games and articles of this nature.
First 2 months of liquor $ 10k- $ 20k You should buy at least two months of soft drinks, liquor and beer. This is because he has no idea how well he will do at the beginning. All of these things have long expiration dates, so it's better to have more than one thing to say to new customers that is over.
Electronics $ 2k- $ 10k You will need some music for your bar. It can be your own karaoke center or maybe you would like a jukebox. You will have to buy the main music source and then you will need speakers throughout the bar. Again, you can start cheaper and upgrade as time goes by.
Employees- $ 4k- $ 7k You will need to have a few months of money reserved to pay your employees. Your rule is to have between 5 and 6 months of payment reserved. Simply hire enough to make everything work, since you can always add more people later. Having a few months of money set aside for your paychecks is a smart thing to do. If you can not pay your employees, they will not stay and work for free, since your business will close very quickly.
License $ 11k- $ 15k You must buy a commercial license along with a liquor. license for the first time. Both will need to be renewed every year as well. In addition to that, you must have insurance that pays well.
As you can see, opening a bar involves a lot of time and money for the first time. So, how much money does it cost to open a bar? I should have between $ 150k and $ 240k just to start the first months.