What is a Food Truck Business Plan? Step One: Detailed Market Analysis Step Two: Acquiring a…
Bar Business Plan
Opening a bar requires significant advance planning because of government regulations and the importance of defining the desired clientele. There are many types of establishments serving liquor, including nightclubs, sports bars, pubs, taverns, music venues, microbreweries, contracted bars in hotels and restaurants, and others. No business can serve alcohol without the appropriate license, so obtaining permission to open the business is one of the first steps. The bar business plan can be used to make a presentation to zoning boards, licensing agencies, potential partners, and potential financers.
A high quality bar business plan will address issues like the following:
- The business structure that may take the form of a sole proprietorship, partnership, corporation, etc.
- The bar’s theme and atmosphere, both of which directly influence the type of clientele that will be attracted to the business
- Products offered, which may be limited to craft beer or offer a full range of alcoholic drinks and food
- Market demographics, including size, typical customers, area population growth, area characteristics, etc.
- The bar seating which can range from casual sofa-like seating to pub tables to booths to bar stools
- Anticipated patron traffic during various hours of the day
- Competitive analysis for the targeted market area
- Amenities offered including food, entertainment, special events, promotions, and so on
- The marketing plan to build a loyal, steady client base attracted to the atmosphere the bar offers, which could be romantic, “Cheers pub-like”, secluded, relaxing, exciting, and so on
- Operational plan that discusses liquor suppliers, vendor discounts, food suppliers, sources of entertainment, and so on
How to develop a bar business plan
Of course, the location and management experience are two key success factors. Researching and understanding the industry trends, and being thoroughly knowledgeable about licensing and other bar-related laws, are critical steps. The bar licensing laws vary from state to state and are extremely strict. There are a number of business associations that can provide critical resources and information before the entrepreneur is ready to develop a bar business plan. They include the Distilled Spirits Council of the United States, the American Beverage Licensees, the National Club Industry Association of America, and so on. It is good to take advantage of all the resources available to ensure the greatest chance of success.
OGS Capital helps entrepreneurs across industries develop the bar business plans that get the business started on the right path, while also serving as a fund raising document. Consultants can provide critical advice needed to develop a solid action plan. Contact OGS Capital simply by submitting basic information through the online form. It is as simple as that.
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