Opening Your First Bar

The Basics of Opening Your Bar: Step-by-Step

Opening a bar can be a thrilling and rewarding experience, but it can also be a daunting task if you're not familiar with the process. In this post, we'll provide you with a step-by-step guide to help you navigate the process of opening your own bar.

Step 1: Do Your Research

Before you start anything, you're gonna need to understand your market. Do the research on your target crowd, the other bars and entertainment in your area, and the overall demand for another bar in your location. This info will help you put together a successful business plan and concept.

Step 2: Yes, You Should Have a Business Plan

A business plan is a crucial component of any successful business, and a bar is no different. It should include a fully detailed description of your concept, target audience, marketing and advertising plan, budget projections, and how much money you're going to need. This plan will be a guide for you throughout the process of opening and operating your bar. Changes will happen, so don't stress it. Learning to be adaptable is one of the most important lessons of any business ownership.

Step 3: Find the Money

Opening a bar isn't cheap, so obviously it's essential to secure funding before you start. Consider all your options, including loans, grants, and especially private investors, and be ready to present a concrete business plan to potential lenders or investors. Relying on friends and family isn't a great idea unless those individuals also offer resources to help you throughout the process. (Ex. They have experience in hospitality, law, accounting, construction, marketing, etc)

Step 4: Ok, now Where?

Location is immensely important when it comes to opening a bar. Look for an area that is easily accessible, visible, and has a lot of traffic flow. Consider the area's foot traffic, parking, and zoning regulations.

Step 5: Get Licenses and Permits

Naturally, you'll need to obtain licenses and permits to open and operate a bar, including a liquor license, health permit, and business license. These all can vary depending on where you are, so research the necessary licenses and permits for your area. A lot of times, you'll have options to purchase an existing bar and its licenses, but make sure to have your attorney go over all the records to make sure you're not incurring past debt, strikes on the license from previous incidents, or any other red flags. It's better to walk away than to deal with long-term issues from the jump.

Step 6: Design Your Vision

The design of your bar is critical to creating the right atmosphere and can attract the customers you want. Consider the layout, decor, and lighting when designing the bar. You should also be sure to have space for all your necessary equipment and storage.

Step 7: Supplies and Equipment

Running a bar, you'll need the right equipment and supplies, including bar tools, glassware, coolers, sinks, dish machines, point of sale systems, and on and on. Don't skimp. Buy high-quality equipment and supplies so that your bar runs smoothly and efficiently. Saving a little money now will undoubtedly cost you more money in the future.

Step 8: Build Your Team

Your staff is the most crucial part of your bar's success. Hire experienced, reliable, and friendly staff. Give them the proper training and tools so that they can provide excellent service to your customers. When making decisions for your business, always consider the impact on your staff. And when you're hitting record numbers and buying private jets and yachts, make sure to reward your team accordingly.

Opening a bar is exciting, but it's also important to approach it with careful planning and preparation. By using these steps as a guideline, you can begin to create a successful and thriving bar.