Attempting to launch a bar?

Question

I have an excellent idea for a bar/ night club. I really believe it would take off, especially as locally there's nothing like it, and I've not heard of anything similiar elsewhere. How would I go about finding investors, and what sort of government grants are available for launching such a venture?

Answer 1

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Associations may be a good avenue to explore. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* Start and Run a Money-Making Bar by Bruce Fier
* Upstart Guide Owning & Managing Bar or Tavern by Roy S. Alonzo
* Start Your Own Bar and Tavern (Entrepreneur Magazine's Start Ups) by Entrepreneur Press
* The Food Service Professionals Guide to Bar & Beverage Operation: Ensuring Maximum Success by Chris Parry

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 2

I have been in business for years. I run a success coffee business. One thing to think about is: Why isn't there any thing local? And don't assume that the answer is simple. There may be nothing locally like it because it doesn't have the target market to handle sales. For example, here in Vegas, the club scene for local bands doesn't do well, because of they didn't have enough patrons on interest.

One the Grant issue. Grants are geared towards not for profit entities. You can go to the SBA.gov and read on this. You would have to try for a loan from a bank first, then, if that doesn't pan-out, then you can go to the SBA for a loan. Usually, then loan on a 85-15 basis. That is, you come up with 15% of the funds needed.

The best way to find out if your biz idea is feasible, do a market study of your own. Get a sample of at least 250 to 1000 and see what the numbers state.

The following is mandatory to know:
What are their interest in night life?
What do they expect from a night club?
What don't they like about night clubs or bars?

Similar questions will help you determine what you need to get started.

Answer 3

I doubt there's any kind of government grant for a bar. As for investors, how about your friends? If you're trying to get strangers as investors, you will need to draft a good business plan. Perhaps you can present this plan to local restaurant owners that do not have a bar attached to their business.

Answer 4

Beat the pavement, ask other business owners, friends and family with money. Goto investor conferences and meetings, plan and articulate your idea into a sales pitch.

If you really want to sell it you must be passionate about it.

As for bars, I have found that they normally have a 3 years lifecycle...not the best investment unless you bail-out after year 2.

Answer 5

Prepare your business plan. Locate the site. Be sure you have enough parking and client capacity. Get figures on cost and overhead. Contact a bank or other lending instution. Contact the U S Small Business Administration.

Answer 6

You won't get a gov. grant for a bar...you need to convince people with capital to invest not only in a bar but in YOU.

A BUSINESS PLAN shows you not only understand WHY your business will work but HOW it will work for the first year.

Any "small business" class will take you through the steps of creating a business plan. Good luck, cutie...