From a personal perspective, you need to ask yourself if you’re really the type of person who wants to own and run a bar. Of course, you don’t have to run it if you own it, but you’d better make sure you have a team of good, trustworthy managers working for you if you plan to be “hands off.” In the beginning, you will probably have to be greatly involved no matter whether or not you plan to be an active owner. If you’re the kind of person who would rather deal with paperwork or sit in an office where you don’t have to talk to people, this business is not for you. You will need to be out there talking to people and shaking hands. Getting to know your patrons, even if it’s just to say “Hi” can go a long way for your customer service.
Another thing you should consider is the time commitment and time of day. If you’re an early riser, you might not enjoy having to work until 3 or 4 a.m. at your bar. If you have a family, you need to discuss how owning a bar will affect them and your personal situation. Many times you will have to be at your bar from the time you wake up–say, around 10 or 11 a.m.–to the time you go to sleep–say, around 4 or 5 a.m. As you can see, this could take its toll on your family life. Eventually, you’ll probably be able to have a saner schedule, once your managers and staff are well-trained, but it may take six months to a year to reach that point. If this could cause problems for you or your family, you may want to reconsider the idea of owning a bar.
From a business standpoint, however, a bar can provide an excellent return on investment. The federal government receives a large portion of its tax revenues from the sale of alcohol, and it’s not much for risky ventures (well, maybe sometimes, but it doesn’t mean to be).
Can we solve the #1 Business problem people have today? Yes -- and the answer is simple...
The coffee vending business is your opportunity to cash in on the 30 billion dollar coffee industry.
HUMAN stands for "Helping Unite Mankind And Nutrition" and we started the Healthy Vending Industry back in 2003
Thin Energy is looking for a limited number of motivated business minded people...
Origami Owl serves as a vibrant and beautifully beaded inspiration to aspiring independent business owners.
Earn recurring monthly payments selling high-value mobile websites and apps to lucrative clients...
With 2,000 locations open or in development in 15 countries, Snap Fitness is the top choice
PromoSlam has a mission to develop real solutions for individuals and families
Join an exciting opportunity that has the potential for huge monthly revenue.