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Business
Analysis and Startup Information
Bar or Tavern
There are few businesses as glamorous as owning a bar or tavern.
You'll be the proprietor of the establishment where people meet, greet
and eat--and drink. It'll be a home away from home for some of your
customers, and you'll be the ruler of this social roost. The profit
potential for bars is incredible. By taking a $20 bottle of liquor,
and selling it an ounce at a time for $1.50 and up, you can make as
much as $192 per bottle. That's a whopping 800-percent return on your
investment!
Owning your own bar or tavern can mean long hours, meticulous
attention to detail, giving up vacations and weekends, and sometimes
dealing with unruly customers. But if you have a clear vision, do your
homework, and learn the ins and outs of the business, it can also
translate into a rewarding and financially successful enterprise. If
you're friendly, outgoing, like people and have good business sense,
you're already well on your way.
Our step-by-step guide will help you turn your dream into a
moneymaking reality. We cover the several types of bars you can
open--neighborhood bar, sports bar, brewpub, wine and champagne bar,
and nightclub--and how to get those bar stools filled with happy
customers. You'll also discover how to:
- research your target market
- find the perfect location
- hire a knowledgeable staff
- navigate the red tape that accompanies serving alcohol and food
- understand the logistics of inventory and equipping your bar
- compete with other bars and nightlife venues
- keep your clients entertained--and making more purchases--once
they're in your bar
- and much more
Check out the table of contents for more details
Back to Business Analysis and
Startup Information from Entrepreneur
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