How To Start A Bar Business
Learning how to start a bar business is a very challenging task that requires hard work and planning. However, if you follow these guidelines, you can easily have a successful bar business in no time. Here are a few tips about starting a bar business.
- Planning. The first step in starting a bar business is creating a sound business plan. Before starting the busines,s the total expenses should be calculated. Projected profits and losses should be tallied. A good location should be found. Shopping around for the best prices from liquor distributors is a must. The amount of work put into the planning process can make or break a bar business.
- Paperwork. To start any business, a great amount of paperwork in order. When starting a bar business, this principal is ten fold. A Federal Identification Number has to be applied for. A liquor license has to be bought or leased. An ATF permit has to be acquired. State or local seller permits are also needed, as well any other licenses that apply to the business required by the local authority.
- Funding. Starting a bar business requires a great bit of funding. To start a bar business, six months to a year of funding should be set aside. This money should be managed very carefully.
- Hiring. A key to running any successful business is hiring a good staff; this is even more important when starting a bar business. Pick people that are personable and likeable. Check all your employee references and job history carefully before hiring. A good staff can make or break a bar business.
- Advertising. Buy a nice sign to showcase a bar business. Advertise your new bar business in newspapers and radio (TV if you can afford it) to get a bar business noticed by the public.
These are a few tips on starting a bar business. Keep these tips in mind in order to increase your chances of starting a successful bar.