Who has any experience in the bar/restaurant biz?

[STLantny]

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?

[turnipmonster]

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

[STLantny]

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?

[Rick Nebiolo]

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

[/ QUOTE ]

Not only that, but a bar is facing tough problems with the trend of increasing penalties for DUI.

~ Rick

[Patrick del Poker Grande]

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

[hyde]

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....

[STLantny]

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.

[imported_anacardo]

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.

[arod15]

Some sheer numbers to consider. To start a place you will definatly need at least 300K capital Not to mention the loan you will have to take out. ANy place will cost you at least 300K to buy if it has good location, also you must think of supplies needed, possible remodling, the stools bar itself and of course the liquor license. I assume 1 million will be a rough estimate of what a hole in the wall will cost. This might seem high, but keep in mind you will need some reserve as the business might not take off. Also, 70 hours a week a minimum for several years. People will rob you blind. The bartenders drink for free, the buy back rounds and steal cooks eat for free if your not watching it it will be stolen piece by piece. So if you are willing to risk 1M dollar investment, try it, its too risky for me. ALl conditions have to be right. Also, getting a line of credit will be hard as you dont have that much relative experinece, they will make you vouch personal assets which is always risky.

[Jim Kuhn]

Hyde - are you my brother posting in secret? This sounds just like his life story!

Thank you,

Jim Kuhn
Catfish4u
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