Things to know before you go into the bar business: As told by Conrad Gallagher
If
you have always wanted to open your own bar, then remember that most of us
have. Too many people fancy how fun it would be to have their own bar where
they enjoy with the regulars and have a menu that reflects the things they
would want to eat with their drinks. However, it is not that easy, says Conrad Gallagher.
Most people go back to doing their jobs the next day but if you are one of
those who want to make a success out of it, you should read on.
Know the statistics, says Conrad Gallagher
Knowing
the stats well beforehand is going to get your head in what you are going to be
up against. The truth is that though people love socializing in bars, the taboo
against intoxication while driving is something that has put a damp on the bar
business. People don’t want to drive if they are drunk for obvious reasons.
Also, the growing trend towards health and fitness is also making people
realize that they don’t want to drink as a way of socializing. When you know
these things, it will make it easier for you to dive in.
Are you the type of person who owns a bar?
You
may feel that you are just the type, but go for serious consideration. Are you
someone who would rather sit in an office all day, do paperwork and not talk to
a lot of people? If that is the case and you are usually a shy and reserved
person, then this business may not be for you. This is because opening and
running a bar means that you have to talk as a way of life, make small talk
with patrons and managers alike and basically talk like you could be dead the
next day! Also, if you are a family person, you need to communicate with them
about how owning a bar and running it is going to affect everything in the
house.
Type of bar
Deciding
on the type of bar you want to run is the next step as stated by Conrad Gallagher. The neighborhood bar is something most towns and cities
have and they cater to the neighborhood people who may want a place to stop by
for a drink regularly. You may also decide to have a sports bar if you know
that the neighborhood has a loyal sports fan following. If you want a beer bar,
then you have to make sure that you serve really quality beers. You may also go
for a specialty bar where you offer people specialty drinks on your premises.
Pricey undertaking
Before
you go into the bar business, it is important that you understand that it is
going to be a pricey endeavor. Most bars fail because the owners did not
realistically assume how much capital they were going to need to keep the place
running. Don’t expect to break even for the first 6 months and it may take
longer than that as well. Before getting into the business, make sure that you
have got the financing down pat.
Things to know before you go into the bar business: As told by Conrad Gallagher
Reviewed by Parvesh Bravo
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