Should I Buy a Bar?

I mean, why not? Looks easy enough. People love going to bars. The markup on liquor is huge. You bartended in college. All you have to do is get some attractive employees to pour drinks, and we're gonna have a line down the block every night.

Yeah, it all seems pretty easy. But even aside from the current business climate during COVID (which will have a continued impact on our industry,) owning and operating a bar isn’t a cakewalk. So let’s dig a little into how to make the right decision and avoid the usual early mistakes.

1. It's a business - business plan, opening budget, projections, lease negotiations, fixed and variable costs, break even points, company structure, etc. Put a plan in place. And hire an experienced lawyer, accountant, and manager. Seriously, don't skimp.

2. Get some experience - we all have to rely on our managers and staff to operate, but you need to know the basics. Learn to change a keg, split a check, pour a proper Guinness, y'know... the little things.

3. Market - read up on digital marketing (social media, email lists, online ads, influencer marketing, etc) and branding. Knowing your needs is much easier than trial and error.

4. Network - get to know your competition, local authorities, potential staffers/managers, clientele, basically anyone. If they know who you are, they'll be more likely to support your business.

Owning a bar can be the greatest job you ever have, or it can be the absolute worst. The difference is making good decisions from the start.

If you have further questions or are considering jumping into the business, feel free to contact us via email or webchat. We can help you put a plan in place to make your dream job a successful reality.