If you love working with people and are looking for a profitable business venture, think about opening a bar. Although it takes hard work, bars can be a successful way to earn a living. Here are some things to keep in mind.
1. You’ll Need a Liquor Permit
In order to be able to open your bar, you’ll need a liquor permit. You’ll need to start the process as quickly as possible, as it could take months before you’re approved. Consulting firms can help you with the process. For example, if you live in the Dallas region, you can look online to learn how to get an alcohol permit in Dallas TX.
2. You’ll Need a Business Plan
Creating a detailed business plan is not only important to be approved for a business loan but it also helps you achieve your goals of opening a successful bar. Think about the type of customers you want to attract and how you plan on marketing your establishment.
3. You’ll Need Funding
You’ll probably need a loan from a bank or other lending institution, but you won’t be able to borrow the entire amount from any bank. They’ll require you to contribute at least ten percent of the costs yourself. After you’ve created your business plan and come up with a reasonable estimate of the amount you need, plan on pitching in a portion of that money yourself.
4. You’ll Need the Right Building
You’ll probably need to rent your building. Look for a landlord who’s open to a business serving liquor. Find a building with plenty of parking and easy access from the street. Make sure the place has bathrooms with sufficient stalls for the number of people you plan on serving.
Opening and running a successful bar can be done so long as you’re willing to work hard and have sufficient planning.