How to Make Money Opening a Bar
Opening a bar can be a fun way to make money, but it is very difficult: you have to think very hard about this project before you start moving and you must be prepared to work hard in this business if you want to be successful.
You will need patience, motivation, money to invest at the beginning, experience in the management of a bar and, if the location varies, you will need it, you will need a liquor license. Also remember that on average 90% of restaurants and bars fail in their first year. Of those who survive, 90% fail in their second year. But if you win, having a successful bar can be very rewarding.
In this article, you will find the necessary steps to open a bar and the suggestions to succeed.
1. Visit some successful bars in your area
Buy a drink in each one and take notes about what you like and what you do not like. Take a look also at rush hour and then come back later at a quiet hour. Familiarize yourself with the laws, regulations and other requirements in the area where you want to open your bar.
2. The subject in your bar
This is probably the most important decision you should make. To help you choose, keep in mind that people tend to visit bars near where they live and take a look at the competition in their area. Start thinking about the menu: depending on what you offer, you can have menus for meals, drinks and cocktails.
3. Your business plan
You should consider the amount of money you wish to invest, in relation to the location, the subject and the statement of future income. You should also need an accountant and interior designer or architect. Your business plan is also used to request financing (if you do not have enough money) from banks or investors for your new business, so be sure to fix everything.
4. Decide the location
Before selecting the location for your bar, consider your potential customer in the area and make sure you understand the competition in that area. Also, think about trends and keep in mind that the more people there are in the area, the more customers you can attract. Be careful to choose your location in residential areas, due to noise, there could be some restrictions on operation during certain hours. Finally, look for vacant promises, for rent or for sale, that may be appropriate for your bar.
5. Selection and purchase of furniture
Tables, chairs, armchairs, bar stools: if you need help to hire an interior design. Of course, your furniture should fit the chosen theme. Also think about audio, lighting and all other electronic components for your bar. Also configure computer systems for sales, orders, stock level and payments such as sales and stock purchase.
You must apply for all the licenses you need in your bar: you will need to obtain a permit to serve food, a permit to serve alcohol and all your employees will need food handling permits.
7. Bar staff
This includes waiters, staff, security and dj. It is very important to hire experienced people, go to the personnel agencies if necessary. Keep in mind that the number of employees you will need will depend on the size of your bar. Create work procedures that staff should follow, such as bartender service standards or envelopes, according to the theme of your bar.
Bands, dj & # 39; s or any other entertainment you can offer your customers.
9. Opening your bar
You can choose to open a VIP opening, also for media and celebrities and, why not, for your suppliers. Or you can directly organize the public opening party and that's it.
Now is the time to earn money and have fun with your new business!