February 15, 2017
The Process of Opening a Bar
Have you ever dreamed about running your own business? Are you stuck in a job where you are working for a tyrant of a boss? If this is the case, you might want to consider opening a bar. There will always be people who want to kick back and enjoy a cold beer while they are watching a sporting event on TV. You might as well make some money off these people. If you don’t, someone else surely will. Here are a few basic tips that will help you on your way to being your own boss and operating a bar.
1. You will need to obtain a liquor license that will enable you to sell liquor legally in your establishment.
You will need to go through the process of legally obtaining a liquor license from your particular state. Each state has their own process that you must follow. You would be wise to do some research online to find out exactly what your state requires. You need to make sure you do everything that is expected of you in order to ensure that your application for a liquor license in Texas gets approved without any unnecessary delays.
2. Find a building that you can afford.
Bars come in all shapes and sizes. You will need to decide how big a bar that you want to operate. A larger bar will obviously have a greater overhead. However, it will also give you a greater earning potential since more customers can fit inside at the same time. Location has always been one of the most crucial factors in the world of real estate. The location of your bar will be essential to attracting customers. Make sure your bar is in an area with a large amount of foot traffic.
3. Create a budget for yourself.
You need to be good at keeping track of your expenses. You should hire someone with bookkeeping skills if you do not possess them. You will need to determine how much monthly rent you can afford on your building. You will also need to buy the alcoholic beverages and any food items you will serve. Employees will need to be interviewed and hired. The building will need to be insured before any customers are allowed inside. All of these things will cost money. Preparing a budget will guarantee you can pay for everything.