The decision to become a bar owner can be a difficult one to make in a tough economy, but for those with an entrepreneurial spirit and an eye to control their own financial destiny the venture can be life-changing. To become a bar owner takes an individual with special personality and a unique set of skills in many areas to be successful, simply because the business of owning a bar consists of dozens of small details that need to be tended to daily in order for an establishment to be profitable. Added to this is the fact that a bar owner is forced to deal with nearly every personality type on the planet (many times while they are intoxicated) and it becomes evident quickly that to become a bar owner is not quite as easy as it may look on paper.
The first step to become a bar owner is to determine what type of bar an individual desires to own. Not all types of bars are successful in every location, and a choice needs to be matched closely to the local area in which the business will operate.Once this task is completed an individual must decide if they want to become a bar owner by building a business from the ground up or if purchasing an established bar is a more suitable route to take. While both ways to become a bar owner have their positive features, purchasing an established bar business is usually more costly at first while opening a new bar requires much more initial investment of time and energy.
In either instance to become a bar owner requires that licenses and permits be obtained, employees and insurances must be secured and a sound business plan must be created and followed closely to enable success in the new venture. The bar business is one that requires an owner to be “hands-on”, especially during the initial launch of the business and to become a bar owner often requires that an entrepreneur work long hours for little pay at the inception of a new business to ensure that overhead costs are met. From any vantage point, to become a bar owner takes a person with a strong work ethic and better than average problem resolution skills if a new bar is to make a go of it.
Lastly, to become a bar owner an entrepreneur must choose their staff and physical plant wisely. Both aspects of a bar business are critical to achieving long-range goals for a bar owner. Bartenders and barmaids are what keeps customers coming back, and a long term lease on a facility will ensure that your bar business will remain in a familiar location for many decades to come.