Who has any experience in the bar/restaurant biz?
 

I just took a well paying job, selling/maintaining/installing Point of Servce (POS- flat screens, touch screens, av equip, cash registers etc at restuarants/small biz etc) equipment, along with poker, and a few other business options I am working on, I should be out of the 60k debt by the time I graduate, and maybe have a few bucks saved up. I really like selling this stuff, and I dont mind installing it, Ive also networked with a TON of restaurant owners, and have decided that by the time Im 27/28, (23 now), I want to open up a little corner bar, at the same time I open up my own biz (rather than working for someone), in the POS industry. I figure that I will be able to open the bar, after I get some help w/ training from the connections I make, then hire 2-3 bartenders etc to bartend, then I can do my POS thing during the day, and do the GM stuff at the bar at night. How feasible is something like this? How tough is it (time/talent-wise) to make a bar profitable, if its a smallish neighboorhood bar, and thoughts on the rest?

Re: Who has any experience in the bar/restaurant biz?
 

in general, owning a bar or restaraunt is a sucker's game. very few make it.

Re: Who has any experience in the bar/restaurant biz?
 

I think it's a lot more work and a ton more stress than you're thinking it is.

Re: Who has any experience in the bar/restaurant biz?
 

That is what Ive been told too. But, I think that my outlook is skewed because, one: Im selling anywhere from 1k to 50k worth of equipment to succesfull entrepaneurs, and I have an uncle that owns a 30ish chain restaurant, who is richer than god. But the way I see it, is how hard is it to run a succesful, small hole in the wall bar, and turn out a profit?

Re: Who has any experience in the bar/restaurant biz?
 

coming from twenty years experiance.


A small hole in the wall will not generate enough income that you can afford to be an absentee owner.
You will spend way more time than you think necessary in the joint.
You will drink more than you think you will.
Your bartenders will steal you blind unless they are related to you. Then they will steal less.
Giving free drinks is stealing.
Small neighborhood joint are like Cheers without the laughs. You will end up listening to every tale of woe you can imagine. A crying man is not a pretty sight.
Have I mentioned the belligerent drunk yet?
And I only worked at fairly high end places.....

The truth is I had a lot of fun in my 20's in the bar business. Back when doing shots of tequila until sunrise was a fun time. Sunrise services we called them.
And you will get more ass than a toilet seat.
Do it, but get out before marriage.

I'm guessing your rich uncle owns franchised places. Which are very structured, and profitable, but not as entertaining. smarter probably....

Re: Who has any experience in the bar/restaurant biz?
 

Ok, say I find a location, maybe big enough for a large backroom office area (to run my POS biz out of), a pool table, 15 foot bar, and 10 bar tables, and some kind of dance floor area. How much volume does a bar like that have to do to do a profit? I of course will be talking to some guys Ive connected with, but I am bored right now, and would like to get some idea.

Re: Who has any experience in the bar/restaurant biz?
 

My Pop started a place up a couple years back that he thought would be his gateway to retirement.

Eighteen months later, he works 80 hours a week, his marriage is ruined, he's a full-blown alcoholic and he can't make his credit card payments.

So... nah, I wouldn't recommend it.

Re: Who has any experience in the bar/restaurant biz?
 

Jake goes to the bar every day after work.

Re: Who has any experience in the bar/restaurant biz?
 

Ive read a thread about jake and a bar, does he own one, or is that a joke etc. What does he do actually?

Re: Who has any experience in the bar/restaurant biz?
 

So far, all I have heard is negatives? Why are there succesful bars than?