Buying a bar??? Thoughts on this??? (money, owners, difference, city)

[Sabal77]

I'm in the bar business. One of the biggest challenges we face is getting enough customers, and then keeping them. You've got to make your bar fun by constantly running interesting bar promotions, or your customers will leave. Here's a free list I found for bar promotions that I have used.

We plan our bar promotions out in advance and keep it fresh so that our customers want to return more often and not go down the street to a competitor.

Joe

[jkshell743]

we are thinking of buying a bar in the Indianapolis are but where do we start and how do i find out how much a liquor license would cost from the state?


j

[Will46r]

JK, if it's an existing bar you need to look at the P&Ls and I recommend visiting it a few times. Go during peak hours and happy hours to get an idea of customer count. See how busy the coin operated games are, these can be an important secondary revenue stream and not that I recommend hiding money from the IRS, this is money that's not monitored by the government.

Check with your state's Beverage Control agency, in Alabama it's called "ABC" in Indiana it's called the ATC and the website is in.gov/atc

Reality check, if you can't figure out how to get your state's liquor license without asking on an internet board you're probably not a good candidate to run a successful bar. I know I'm coming across rather rude but inexperienced ownership and insufficient cash reserves are the 2 main reasons bars close.

Bars and nightclubs CAN be a moderately fun way to make money but it takes a long workweek and a close eye on the details. I'd recommend working in a bar for a couple of years to get the experience needed to make a successful go of it. Everyone's watching "Bar Rescue" and similar shows thinking that's all they have to do to make it in the bar business...... Do you have $5000 + $500 a day to call someone like that to help you out?

[eofelis]

When times are good, people drink.
When times are bad, people drink.

[MountainBiking]

To make it in the bar business the most important thing is: Location, Location, Location. After that, atmosphere and the personality of the bartenders and servers is critical. Good looking people bring in customers- ever been to Las Vegas? After all its showbiz . Incorporate some kind of small food menu; something that your guests can munch on: quesadillas, mini-burgers, homemade onion rings/fries, chicken wings, etc. You don't need a full blown menu. Sponsor an adult league sports team of some kind (baseball, soccer, softball, etc.) Offer specials for the team when they win. They'll bring in their friends, GFs, Bfs, etc. The specials can be limited to certain well drinks, domestic beer and limited food items if you wish. I know of a bar in So Cal that started offering specials to Sunday road bike riders. It took off and now they get tons of cyclists to come in for some beverages. You can have events held at your bar like wine tasting/seminars and offer munchies for a package price. The wine dealers will work with you to get this going. And ALWAYS check what your competition is doing.

Now, can I have a rum and coke with a lime, please.

-Cheers.

[qlty]

Loose the license for serving an under age person and you loose the license.In NY State it can be lost for other infractions as well.Plus having to put up with all sorts of low life and drunks.Its a bad investment in my opinion.

[Amelorn]

What kind of crowd would it draw? Each has its pros and cons. This is a huge part of running a successful bar.

College Kids: High volume, low prices (barring the odd, more affluent college). Relatively easy for the bartender, as it's mostly pouring beer or opening bottles. Hire a senior and he'll tell his friends when the deals are on, so more business. Downside? A dead summer, unless the town has some other attraction: beach/golf/boating/etc etc.

Young locals: Similar to college kids, but more consistent. Crowd may be a bit rougher around the edges.

Trendy, young urban professionals: Lower clientèle volume, but much higher spends per customer. Generally not a difficult crowd to manage. BUT, you need experienced bartenders to cocktails of a sufficient quality to justify $10+ per cocktail. Also, a cook for outstanding light bites is a necessity...otherwise you're just another overpriced urban bar. Also, you could become passée and require expensive renovations/change of staff.

Professionals, mixed: Need a place that's classy and classic...and a little fun to relax after work. It probably shouldn't draw a hook-up crowd and needs to be respectable if one is seen there by a client/colleague etc.

Townies and local heavy hitters: The steadiest bar but the worst to manage, IMO. These are those dank hole-in-the-walls you don't want to be seen in. Think "Moe's Tavern" from The Simpsons. IMO, these uninspiring places probably make up 50% of the bars in my general area.

Mixed crowd: These places are the best, IMO, but RARE. These are like the pubs you'll find in Europe. Grandpa and his buddies hang out there. You'll see a couple of frat guys having a burger on a lazy afternoon, and the businesspeople stop in for a 1pm lunch. These are generally pub restaurants. And they don't cost $160k, and they seldom leave family control. They're goldmines.

[Sky1]

did you see his financials?

[Will46r]

Yeah but those "hole in the walls" generate a lottttt of money if run properly. There's a local niche bar with 65 person capacity that cash flows like a busy 300 person club.

[Driller1]

If I were to open a bar (which I am not).

It would be a gay bar in a larger city.

There is a lot of money in gay bars.