An entrepreneur looking for an enjoyable and profitable endeavor may be attracted to the idea of opening a bar. Many adults enjoy drinking socially with friends and enjoy going out to do so. Creating a thriving bar is entirely possible as long as the owner does enough research beforehand, selects a good location and develops a solid marketing plan.
- Obtain Licenses and Permits
It is no secret that minors are not allowed to drink alcohol. Establishments that sell beer, wine or liquor need to acquire the proper permits before opening. Even after getting a TABC permit, licenses to sell food should be obtained. Depending on the region, separate permits may be required before dancing or other activities will be allowed.
- Evaluate the Target Market
Even a bar that has a beautiful interior and exterior, plays great music and offers fun activities will not get much business if the target market is not catered to. It is important to narrow down the target market as much as possible before opening to ensure that the atmosphere and activities appeal to the correct customers. An elegant bar with soft music and a sophisticated menu will attract a much different crowd than an establishment that is full of neon lights and loud music.
- Select a Location
The location will play a large role in determining the type of customer that can be catered to. If the owner lives in an area that is dominated by one particular demographic, their options will be limited to the type of people who make up the local area. If that does not appeal, then they may need to consider opening a location that is far away from where they live.
Running a bar takes a lot of hard work and dedication, but if the owner makes good business decisions and works to appeal to the target audience, it can be a very successful venture.