Before you think to set up a whisky bar, you should check if you are for this business.
Of course, you will not take care of the bar alone, to manage a bar, will have a staff to help you, including in addition to a reliable manager. But this does not mean that you will not have to be present in the business.
Setting up a bar requires dedication and commitment to the business. If you are the type of person who prefers to handle papers in an office, working mostly alone, setting up a bar is definitely not for you.
Sometimes you have to open the bar and stay there until 3 or 4 in the morning, that’s a lot of work, personal sacrifice and family relationships. So you can set up the bar and then realize that the business doesn’t fit your lifestyle. For further deep guidance, read whisky cask company reviews.
But if you look at this, thinking the bar is the right deal for you, great, you got the missing content. Let’s teach you everything you need to know with this walkthrough of how to set up a bar and important business information, such as the bar’s profit margin, costs, and more. Check out!
Feasibility study and bar business plan
To set up a successful bar, you need to start with a feasibility analysis and business plan, without it, the chances of failing in the first 6 months to 1 year are 90%.
The feasibility study will provide information on whether or not it is possible to achieve success with a bar in your city, looking at factors such as: target audience, costs, investment, competition, product, pricing, among other factors.
After conducting the feasibility analysis, the business owner should focus his efforts on a business plan.