Advice on starting my business? (Opening a bar)

[toasterwater]

Okay, so i know what I want to do: Open a bar. I know when i want to do it: Late 2009... august, september time frame. Now all I need to know is how to do it.

I have a pretty basic idea of what it will take, in general terms.

I need to:
-lease building space
-furnish this space
-buy all the supplies necessary to run a bar:
-stocks of alcohol
-cash register
-security system
-entertainment, etc.
-I need personnel to run the bar/ tend bar:
-myself, and my business associate
-Training for personnel to run/ tend bar:
-bar tending school/licenses
-economic/business classes
-Capitol to start business:
-Small business loans/ savings
-Income to pay bills/ upkeep & maintain bar/ self:
-revenue from bar

Now, knowing these things in general terms is much different from knowing specific numbers and how to go about this evolution in the most efficient/ economically sound manner. This is where you all come in to play (hopefully ). Out of all of the readers in this community, I'm sure some of you have useful info/advice on how to go about this project, and what it will take.

Please respond to this post with any useful info you may have for me. Advice from individuals who own/ have owned businesses and/or individuals who tend bar/ have tended bar, or anyone else with practical info for me will be greatly appreciated!

Thanks for your time & advice.

[norbert]

First of all, great that you made the decision!

As for any business, my advice would be to spend as little cash as possible, start small (but dream big), see what works and what doesn't and grow the business from there. Also, I have uploaded an audio clip from Peak Potentials' Enlightened Wealth/Warrior Training for you.

I am in the web business but my friends have opened a tea house 2 years ago. One of the things I've noticed is that they had lots of unforeseen costs (especially in the beginning) and they had to expand their business by selling related products like teapots, chocolate, ice cream and some food. Now they are doing pretty fine. (although they have a hard time systematizing it so that it could operate without them)

I wish you good luck with your new business!

Oh, and of course, read trizoko and see their archives.

[cdn2wheeler]

Don't forget insurance. Depending on your location and whatnot, insurance costs can be a major expense.

[CStrunk]

You also have to take into account the liquor laws in your state/country. You might need to get a license. There's also health and safety inspections. This reminds me of a case study I did in Bschool. I agree with norbert in that you unforeseen costs will be huge.

[OnionJack]

E-Myth - Thomas Watson quote

" IBM is what it is today for three special reasons. The first reason is that, at the very beginning, I had a very clear picture of what the company would look like when it was finally done. You might say I had a model in my mind of what it would look like when the dream - my vision - was in place.

The second reason was that once I had that picture, I then asked myself how a company which looked like that would have to act. I then created a picture of how IBM would act when it was finally done.

The third reason IBM has been so successful was that once I had a picture of how IBM would look like when the dream was in place and how such a company would have to act, I then realized that, unless we began to act that way from the very beginning, we would never get there.

In other words, I realized that for IBM to become a great company it would have to act like a great company long before it ever became one.

From the very outset, IBM was fashioned after the template of my vision. And each and every day we attempted to model the company after that template. At the end of each day, we asked ourselves how well we did, and discovered the disparity between where we were and where we had committed ourselves to be, and, at the start of the following day, set out to make up for the difference.

Every day at IBM was a day devoted to business development, not doing business.

We didn’t do business at IBM, we built one."

[Gordon]

Of course every good bar needs a supply of good bar jokes.....

A man walks into a bar and says, 'Ow'! It was an iron bar!

G