Update on the Bar! Did we Decide to Run it or Rent it?

Update on the Bar! Did we Decide to Run it or Rent it?
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I bought a bar about a month ago because it was a great deal. I paid $132,500 for the building and the business. I have actually been thinking about ways to have a more brick and mortar business instead of just real estate and while I was not looking for bars to run this opportunity found its way to me.

I have been trying to decide whether I should rent it out to someone else or try to run the bar myself. I have had a lot of input from people telling me it is the stupidest thing I could do or it would be amazing.

To be clear, but run it, I don’t mean I will be there serving drinks as I think that would quickly result in a divorce, but hiring people to run it and work it.

In the end, we decided to go ahead and give it a try! I figure the worst that could happen is we make it a nice bar for someone else if it turns out to be too much work and hassle for too little reward.

We have been working on getting the liquor licenses transferred and a game plan together for what we want to do and how we will do it.

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42 Comments

  1. I am curious if you can use any of the cooking equipment from the little restaurant you bought, or will you not serve food? It's great that you and Nicki are continually expanding what you do. It could really take off and you'll love it!

  2. I think it will be hard to turn this into a more stylish bar, but if anyone can do it, it is definitely you! haha I guess you have to figure out what kind of clientele you'll really have and add and change things as appropriate. I liked the suggestion of a pool table or claw machine. I'm not a bar hopper kind of person myself, so all I can really say is good luck!

  3. Thats cool that your license allows seating in parking lot. That means you can put up a tent outside. I'd do that for your grand opening. Call your local radio station and have them send a DJ down to hang out in the tent. Great publicity!

  4. Contact your health department with your plans to be sure they are okay with them. There are regulations about things you can and can't have. Good luck with new business!

  5. Watch your cash. Bartenders over-pour for big tips. Also as a cash business, cash tends to find it's way into the pockets of bartenders. You really need someone with a stake in ownership watching the till daily. I'd put discrete cameras above the cash register & along the bar with remote access & cloud storage of the videos. I'd also do inventory weekly and weight all the bottles and compare was is missing to actual sales.

  6. Having other people run it and you not knowing how or what to do is a recipe for disaster. They will steal from you. For example, give me a double and I will give you a better tip. We audited the liquor every night before and after.

  7. why everyone want a big, modern, full of ligth sport bar? that space it's not that… make it dark and full of personality, listen to your surroundings… take the wood paneling off? sure… and replace it with a darker wood paneling! hahahahaha, but for real… what a fun project! hope you enjoy it!

  8. It would be good to add a tv and gaming console in the corner somewhere and let people play like tournament type games such as mario kart and the more they sit there and play they will be willing to buy more drinks. Just a thought, I was in a bar once where that was popular.

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  10. Biggest issue you will have will come from your staff. I allays had issues with thievery and with relationships going south. When they break up they leave..
    I put a do it yourself bbq station in a similar place, it worked well.
    Cheers

  11. Interesting choice you made, to run it. Will Nikki be the bar manager's supervisor? Two companies now. Real estate and a bar. Very interesting. I can see a bar tender and a manager as the employees there. Maybe a dish washer / cook, too. That's two to three people. That's just what I imagine. With you as owner, I think the bar will be a success.

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