Many people have a dream of opening a bar and running it as a business. Indeed, sometimes it can be seen as a good option for those without experience in business because everyone has been to a bar, right? Of course, the reality of running a bar as a business is quite different and it can be a real challenge to make it successful. Fortunately, you can find some tips that should help with just that in the post below.
You need a business plan
Just because your business is a bar, does not make it immune from needing a proper plan. Indeed, there are so many important things to consider at this stage including defining your market, organizing the structure of your business, and creating a profit plan.
Also, at this stage of opening up a bar, it’s a very good idea to take a look at Beverage Industry analysis and predictions. Then you can see what is trending, and what is likely to be more profitable when offered to customers.
Name your bar
One of the most important things you can do to ensure your bar is successful is to give it a great name. In particular, you need to come up with a name that your target demographic will love and won’t feel silly saying.
For example, if your target demographic was older men you might want to give it an English pub name such as the Red Lion? However, if you want your bar full of bright, young things on their way to the latest nightspots then the Red Lion isn’t going to work so well!
It’s also vital to remember that as well as coming up with a good name, you need to trademark it and have a logo made as well. The advantages to trademarking your bar’s name are protected within a certain location, something that means your business gets to keep its unique identity.
When it comes to commissioning a logo, it’s important to remember that you get what you pay for. What this means is instead of asking a friend of a friend to knock one up for free, it’s worth investing in a professional that specializes in branding and logos. After all, the image will be on almost everything from your sign outside to the cocktail napkins you serve with each drink.
Find the perfect location
Finally, before you can open your bar you must find the perfect location. Now, this is often easier said than done because there are several issues that you will need to consider. One of these is footfall, that is whether enough people are passing by to ensure a good turnover. For this, it often helps if your bar is along a populated route to another attraction such as a nightclub, cinema, or group of restaurants.
You will also need to check the size of the location, and whether zoning means you can serve alcohol there. Finally, it’s important to consider parking, not only for customers and staff but for deliveries as well. After all, you won’t be able to achieve much success, if you have no sell drinks to sell!