Me and my girlfriend and her sister want to open up a bar/club in our area. We've taken into consideration many factors; licensing, zoning laws, location, etc. However, we want to be as prepared as possible, so can anyone help us brainstorm what else we should consider? Please be as specific and detailed in your answers as possible, and remember, this is for a bar. If there is anything specific to this type of business we should consider, please let us know. Thank you.
2007-08-25 10:08:14 · 6 answers · asked by Created A Madman 2 in Business & Finance ➔ Small Business
Firstly, since you're going into business with two other partners, it is critical that you decide what legal structure you'll operate under (Partnership, LLC, Corporation) and you need to determine the percentage ownership for each individual and also the responsibilities for each individual. You also need to determine how you would valuate the business if one or more partners want to end the partnership.
If you have no experience in the bar/club business, I'd advise that you work in one for the next six months or so doing everything from busing tables and washing dishes to waiting tables and cooking if they'll allow you back there and if you have the skills. This will give you some of the work experience that you'll need to understand and run a bar/club profitably.
If this is your first business venture, I would recommend that you talk to a business counselor before you do anything especially spend money. I'd call the local office of SCORE (go to http://www.score.org and input your zip code to find the chapter nearest you), the advice is FREE. Ask for someone who has a background in bars/clubs/restaurants and they'll try their best to match you with the right counselor.
The counselor at SCORE will most likely advise you to write a business plan which is very good advice because it will force you to dig out all of the start up details and the costs of starting a bar/club and force you to also understand all of the aspects of this business including the customers you'll concentrate on (your market ) and how you'll get them to find out and want to come to your fabulous bar/club.
The location of the bar is important but doesn't make it successful. To prove that all you have to do is walk down a street in your town where there are several nice bars/clubs all in a row and you'll find one or two that are empty while the others are very busy. It has to do with baristas, menu, ambiance, and your reputation at the beginning and over time.
You also have to have liquor and food handling licenses, the right zoning, the right city and county licenses and permits and you have to be skilled at negotiating with your landlord about who'll stand the cost of the build-out or the changes to the premises to make it ready for your look and feel.
You also have to worry about the normal business planning and management issues related to starting up any business.
Take a look and read some of the articles at:
http://www.ychange.com/small-business-consulting-articles.html
especially the ones about a business plan and starting a business. Also try their Blog and their Bulletin Board.
Hope this helped.
2007-08-25 10:53:57 · answer #1 · answered by Anonymous · 2⤊ 0⤋
Survey other bar owners to find out what has worked and what hasn't (you can contact bars in other towns so that they won't feel threatened by giving info to a possible competitor).
Talk to vendors/distributors to start networking and get tips.
Scout out your local competition so that you know what their niche is. Decide on your own niche.
Make sure you have a complete financial plan and plenty of reserve money over that estimate.
Learn all about the bar industry. Work at a bar so that you know how it should be run.
Decide on each person's role in the business.
Enjoy!
2007-08-29 17:52:18 · answer #2 · answered by Genki 3 · 0⤊ 0⤋
How about why am I starting this small business and what is the need it is fulfilling? And don't say, because I've always wanted to ... 20 years ago, quick printing and copying was a great small retail business to run, but now The UPS Store and Fed-Ex Kinkos have become whales in that niche. Do your research ... identify a solid need and talk to people who would purchase the product. Don't ever say 'everyone needs it' because everyone doesn't. Who is my best likey customer, and how can I talk to as many of them as I want.
2016-04-01 23:22:07 · answer #3 · answered by Michele 4 · 0⤊ 0⤋
Opening a new business is a complicated decision and process. There are hundreds of things to consider. Competition, customers, suppliers, costs, finances, etc. There are whole books on this subject. Maybe you should check one of them out.
2007-08-25 10:29:46 · answer #4 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
Free online Book will give you the answers... "Go it Alone!" Find it at New Free Books.
2007-08-25 11:06:21 · answer #5 · answered by Anonymous · 0⤊ 0⤋
checkout similar business in the city you want to do business in. How can you be unique?
2007-09-01 18:25:15 · answer #6 · answered by Buzzy 6 · 0⤊ 0⤋