Opening up your own bar is an exciting, fun small business venture. There are many things to keep in mind that are universal when starting a new business as well as things that are specific to starting your own bar. Here are some tips you can use when opening up a bar.
Know The Industry
Keep tabs on the alcoholic beverage industry, holistically. For example, it would be beneficial to know top countries for beer consumption, what people buy in the store and how that relates to what people buy in a bar.
Understand What To Expect
Make sure you stay realistic about what you expect when thinking about running a bar. Determine what is personally important to you. Would you like to own and run the bar, or would you rather be a little more hands-off? Whichever option you chose, make sure you prepare yourself for what to expect. At the beginning of starting up your business, you may be a little more hands-on and once you hire a good team you can start taking a backseat and focus on owning.
It is important to keep in mind what time commitment is needed for your bar. Being a morning person is not going to mesh well with owning a bar in which you are working in the evening until the early hours of the morning. You should also keep in mind how you can balance your family life with running your bar.
Determine Your Bar Type
Knowing what kind of bar you would like to open will get you closer to creating your dream bar. There are several different types that are able to fit whatever lifestyle or personality.
These are small, “home away from home” establishments. Their clientele is typically people that are local to the area who may come by for happy hours. You may have regulars that you get to know over time.
Sports bars typically provide a variety of food as well as drinks with huge TVs and great sound systems, perfect for watching sports games. The food keeps customers full while watching a sports event while the sports event is keeping customers entertained.
Brewpub or Beer Bar
These types of bars may only focus on craft beers. Usually, these craft beers are their own beers they brew. They may also offer mostly snacks and appetizers on their menu. When opening this type of bar, it is good to know the drinking trends in the community you are thinking about opening.
These types of bars are centered around certain themes or certain kinds of drinks, like cigar bars or martini bars.
Determine Your Target Market
Now that you know the different types of bars you can open up, figure out who is your target market and tailor your products, branding and decor to that market.
These few tips are imperative to ensuring you open a successful business that can be fun and fulfilling.