Dream of Opening a Bar? Be Prepared. Here’s How

on 24/01/11 at 11:26 am

Booze News

Sure, you might be a master mixologist. How do you know if you’re ready to invite others to belly up to the bar and run your own place?

You’re an expert at infusing your own bitters—or maybe you can just pour a shot and tap a keg like a pro. You love talking to people, and never felt cut out for a 9-to-5 office gig. But how do you know if you’re ready to invite others to belly up to the bar and run your own place?

“It’s the bar business and not the bar hobby,” said Scott Baird, a bar and cocktail consultant that is opening Trick Dog with partner Josh Harris in 2011 in San Francisco. “Bars can easily hemorrhage cash from every side until they are dead in the water. One of the keys involved in having a successful bar is being organized. You’re not really going to be participating in the fun that guests are having so much as facilitating the fun.”

Running a bar can be a profitable business—but one that is extremely risky. The National Restaurant Association projected that bars and taverns would bring in $18.8 billion in sales in 2010. Ray Foley, the founder and editor of Bartender Magazine, estimates that about 75 percent of bars fail in their first year.

{Full story via Inc.}

Enhanced by Zemanta