The nightclub business is not one of the most comfortable companies to run. There are the lot of things to manage be it licenses, permits, and bureaucracies. It needs a large volume of work and organization to create a brand that speaks for itself. If you get lucky enough to succeed in this business, then you have to keep tabs with staying relevant to club revelers. If done in the right manner, then a nightclub business can be a very lucrative venture.
Successful new bars can be thrown under the bus in the first six months. It can take a couple of years before they go forth to recover their money. But just like many new businesses, we have to understand the reasons why startup bars struggle to make it. First, it’s because they didn’t have enough money to run the business. Second is because of lack of adequate knowledge on running the business.
Before you get started in creating a bar of your dreams, you have to decide what kind of setup you need to establish. There are various bars to choose to setup which include;
Neighborhood Bar – From the basic concept, the neighborhood bar is the American version of English pub. You can find them all over the United States. Those who own this type of bar are expected to know a lot of regular customers. It is basically a friendly home away from home bar.
Across the Country
The across the country bar setup is the most popular type of bar you will find. The startup cost of coming with such kind of bar depends mainly on the size and concept. Most of the money is spent on branding and making the bar stand out. The amount of revenue these bars make depends on their capacity and location.
Depending on the capacity of your establishment, a sports bar can be a particular version of a neighborhood tavern or can equally go on to become such a big establishment. Sports bars have some form of menu options with things such as pizzas, sandwiches, burgers, and appetizers. The main attraction of sports bar is the sporting establishment, and thus television entertainments, audio, and other visual entertainments will always be familiar. Owners of these establishments spend a significant amount of their revenue investing and keeping up with the latest technologies.
Studies have shown that revelers are drinking less alcohol but focusing on other types of entertainment. Beer bars offer a large selection of microbrews that are produced locally. Most beer bars only sell their own beer option with just a few varieties of bottled ones. The startup costs of beer bars can be quite high from $100,000 up to $1,000,000.
The ultimate entertainment place is a nightclub. A nightclub contains everything one can think about. It can be a small cocktail lounge or a medium sized that offers foods during lunch hour. The club can also be the fanciest place where the most fashionable celebrities hang around every week. If well managed, clubs can make a lot of money. They can be big enough to attract more than 500,000 people.