Have you ever dreamed of opening your own bar? They certainly made it look like a whole heap of fun on Cheers didn’t they? It’s good to have a dream and owning a bar isn’t just a dream, it’s a possibility. But to do it you have to think of it has a business venture, not a whim or passing fancy. If you’re sure this is what you want, we can show you the steps you’ll need to take to do it. Are you ready to get started?
Step 1: Find Funding
There are a lot of different paths to consider when thinking about how you will fund setting up and opening your new bar. The first you will almost certainly consider is getting a private personal loan. However there is a problem with that possibility and that is that you might not enjoy owing money to family or friends. So instead, you could borrow a commercial loan. Here, you will have to watch out for expensive interest rates you won’t be able to cope with. But of course the bigger underlying problem is whether you’ll even get approval. If you don’t have experience running a business you probably won’t. That’s when you’ll look at the possibility of private business loans. When looking at loans to fund a bar this is the possibility most people will turn to. It’s not a bad thing either. There are plenty of private loan companies offering fair deals on money borrowed to make your dream come true.
Step 2: Buying The Right Place
Next, you need to think about what type of property you’re going to buy for your bar. Ideally, you want a bar in the centre of a city where you’ll get a huge interest from customers. But naturally, places like this are expensive. So, you might want to look for somewhere that is a little more affordable on the outskirts. With the right marketing, you’ll still get the interest you need. You may also want to look for a bar on sale. But take into account it doesn’t take too much to convert another property into a bar. All it needs is a little renovation work.
Step 3: Obtaining A Liquor License
You’ve got the property you love and you’re well on your way to converting it into a place people will adore. What’s the next step? You’ll need to obtain all the permits and requirements it takes to run a bar. Basically, it’s the legal mumbo jumbo most business owners don’t like to think about. Instead they hire a lawyer to sort it for them and that’s probably what you should do. A good lawyer will handle everything you need and tell you exactly what you need to do. You won’t have to worry about being shut down, opening night.
Step 4: Open And Open Big
When you’re ready to open the doors, you need to make your presence known. It’s recommended you start an offline and online marketing campaign that lasts weeks or even months. You may also want to think about starting your bar with an event. This event might offer free drinks to anyone who attends. It’s a good stunt to get people talking about your business before you start charging.
Follow these steps and your new bar could be the hottest one on the high street where everyone goes in 2016.