/biz/ - Business & Finance

[Anonymous No.587267]

Hey /biz/
I'm in the process of buying a bar. What are some tips you fine people could toss me?

[Anonymous No.587270]

>>587267

have fun working 80 hours a week.

[Anonymous No.587282]

>>587267
>I'm in the process of buying a bar.
>What are some tips you fine people could toss me?

Don't buy the bar.

[Anonymous No.587284]

Because of the statistical failure rate, I wouldn't get into anything food or beverage related.

[Anonymous No.587286]

>>587284

Don't bars have much larger margins though? I know like all businesses it's difficult but surely a bar is probably among the easiest food and beverage related thing to pull off.

[Anonymous No.587347]

>>587286
depends, stuff like cocktails, you have a great margin, need someone who can make the fucking things tho.. the redneck "drink 6 beers, and smoke a couple of packs" bar is dead, as either their customers are, or they'll go to a supermarket, and sit at home, drink thier 99c 6-pack and smoke themselves to death in the pece of their own four walls - and, who can blame them?

You need a great concept, location, staff that aint gonna rip you off (and they *all* rip you off, no business worse for it) and food - and any busines where you have to rely on a fucking chef, you are, more or less, fucked from the start. Can you cope if the chef dont show up? If not, forget it, because chefs, quite often, dont show up, either in jail, or off on a crack spree, or whatever the fuck.

Get all that right? You can still be fucked over at any point by noise complaints (neighbours love bars), licensing restrictions, falling over dead from having to cope with every piece of BS that life, authorities and your customers can throw at you, et-fucking-cetera.

So, basically, much success OP, but don't be that man, should you still have a choice.

[Anonymous No.587348]

Make damn sure you know what you have to do beforehand. Liquor store would probably be easier.

[Anonymous No.587352]

>>587286
Average life span of a bar is 2 years. Most of them don't pay off the initial investment. Maybe 1 in 10 get to the point where the owner gets to sit back and let a hired manager do all the day to day stuff while he collects his check.

And even then only after 5+ years of back breaking shitty-hour labor.

[Anonymous No.587368]

Owning a bar is nothing but a giant liability. Don't do it, especially if you aren't a bartender, or have any experience running a business. I can tell you're not qualified to manage anything, because you're on 4chan asking for life changing advice.

[Anonymous No.587470]

Don't own a bar, that's all there is to it.

The only time I would consider it is if you live in a hipster city and have a unique concept for your bar worked up.

[Anonymous No.587478]

fuck these guys op

Buy the bar. Have good drink specials and people will come

[Anonymous No.587494]

As the first person itt to tell you a bar is a bad idea, I am curious what city you are in? Assuming you are in the US.

[Anonymous No.587578]

>>587352
This.

[Anonymous No.587581]

>>587352

Then why are the only bars I see around town those that have been in business for much longer than 2 years, and why don't I see bars come and go?

[Anonymous No.587592]

>>587267
If you need to ask 4chan for tips about running a bar, you are no where near qualified to run that bar in real life.

[Anonymous No.587599]

>>587581
bars change hands ofter than you think, but not necessarily the name/outfit. It is a fucked-up job, not many last the course - but on the plus side, if it does work? it usually works well. The rule is, it dont, usually tho - too many keep struggling on, burning savings, investment, etc. because they dont know when to quit.

[Anonymous No.587601]

>>587267
Find out if there are any bars with quite a few pool tables close by. If not, there you go. I'm talking like 12-15 pool tables not just one or two in the back.

[Anonymous No.587628]

>>587347
>chefs, quite often, dont show up, either in jail, or off on a crack spree, or whatever the fuck.
You've had a hard life anon.
Come.
Sit.
Tell us where it all began.

[Anonymous No.587641]

Bounced for two years.
Don't do it. You'll stress yourself into an early grave.
The laws surrounding bars are quite complex. Fire codes, safety laws, building capacities, smoking laws, underage drinking, sexual harassment, drunk driving, and much more ways for you to get fined for more than $200,000 USD.
Police occasionally sit undercover officers in bars. To find violations.
People get into fights.
There are so many ways for your bar to go tits-up and leave you with an Arabian Fortune of debt or fines.
However, if you're already a drug dealer, do it. Chances are none of that shit concerns you. Plus you probably have a fortune sitting at home in cash by your gun safe.

[Anonymous No.587661]

>>587267

Violating health code right there. You have no idea what you are doing opportunity

[Anonymous No.587662]

>>587267
Dont hire your pals to run the place. Theyll give out beer and steal until your poor. Same as restaurant business.

[Anonymous No.587663]

>>587267

Another thing: having skanks serving drinks is a great way to get women to never come back and creepy men to show up. Goodbye business.

[Anonymous No.587665]

This isn't It's Always Sunny - you're gonna fuck up.

[Anonymous No.587667]

>>587284
Where do these stats come from?

[Anonymous No.587694]

>>587267
Sell beer bottled not on tap. You'll make way more.

[Anonymous No.587732]

My advice is don't. Best advice in this thread. Transfer 30 bitcoins over to me. I saved you that money anyways

[Anonymous No.587745]

OP, they wouldn't be selling the bar if it was profitable.

[Anonymous No.587791]

>>587641
oh this. In the UK last night and all publicans had to ask for ID on young looking cretins for fear of the po-po. In North America, people don't drink as much to make a steady profit.

[Anonymous No.587806]

>>587267


you will have to hire hot bitches, when you do. regardless of how ugly you may be, some of them will want to fuck you. this is for their advancement only or lust for power obviously.. when they fuck you enjoy it, when they start demanding things cut them off. learned that from my old boss, he had so many hoes throw themselves at him and he knew exactly when to shut them down.


with regards to your bar, can we see the location/current condition to give you some actual advice?

[Anonymous No.588032]

>>587806
It's a bar in New Jersey just outside of Philadelphia. The bar owner is old as dirt and can't run the place anymore, it's not in a struggle. It's been around for ever so it also need some maintenance. All of which I'm working out before I finalize anything with said owner. I'm more concerned about whether updating a bar that's been around since prohibition is worth it. The clientele is old dad's and hipsters. It's got this long with just them, but the craft beer and mix drinks could really add a better flow. Actually I don't even know why I'm asking 4chan for advice...

[Anonymous No.588037]

>>587267
you are going to need a bouncer, the best of the best.
Let me recommend my friend.
He goes by the name of Dalton.

[Anonymous No.588064]

>>588032
Self-validation. It's ok.

[Anonymous No.588096]

>>588037
What are /biz/'s thoughts on philosophy majors?

[Anonymous No.589023]

Most bars that I frequent started off as a place for friends to gather on the weekends. Traffic grows but there is still that base of regulars. Locating next to a college or university helps too. Honestly the people who own bars that I know seem to enjoy it and don't appear at all stressed out.

[Anonymous No.589082]

>>589023

http://www.theguardian.com/money/2014/mar/21/vicars-greatest-job-satisfaction-publicans-least-happy

- yeah - like hookers, the customers are *the last* people you would complain to, how shitty your job actually is ;) srsly, there is maybe a reason why they came *bottom* of *everything* in a job satisfaction survey, no? - and, tbh, I doubt there is any other job where idea and actuality remain so far apart.

OP, speak to some actual bar owners - they'll tell you, even if they do come across as bigger whiners than Taxi drivers, theyre probably not all lying..

[Anonymous No.589172]

>>588096
Is that you Nick? Everybody told you that getting a masters degree in philosophy was a stupid fucking idea if you don't want to be a teacher or go to law school.