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Owning/buying a bar or pub
05-15-2013, 04:15 PM
Hi all,
I always have had a strong desire to own a small pub, just a whole in the wall neighbourhood type place. I know it's a pretty commonly desired thing to do, of course.
I run a business online that is fairly automated and generates a decent late five figures yearly income. As such, I know I wouldn't need to rely on the income a pub would generate but making a profit is an essential goal obviously.
The way I'd envision doing it is with one or two partners who could split costs, liability and management time. Again, I know the risks of partnerships but they can also make pursuits like this more manageable and ultimately successful.
I am fully aware of how it involves far more work than now expect. I also know how grim the figures are for the percentage of new openings that fail.
Still, it is so thing I want to achieve within the next five years ideally.
I only have a few years experience in bar tending back at university. I wold need to partner up wisely and research heavily first.
Anyways,
Any bar owners/staff here?
Or people with a similar ambition?
Cheers
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Owning/buying a bar or pub
05-15-2013, 04:25 PM
Thought I'd add, ideally I'd like it o be in Chicago...
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Owning/buying a bar or pub
05-15-2013, 04:41 PM
I would never own a bar in the US because the liability is not worth it. For example some drunk over indulges in your bar drives a hits a family killing them all you bet your ass they are going after you. I am considering owning a bar in a foreign country but I need to find a country with flexible laws for foreigners to run businesses. Any recommendations?
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Owning/buying a bar or pub
05-15-2013, 04:45 PM
Get a job at a bar.
Do every job; dishwashing, barbacking, bartending, managing etc.
Then see if you really want to do it.
You need to learn every position inside and out (ideally learn spanish and know how all the machinery works as well, and some plumbing, electric etc) or you are going to get robbed by each employee.
We have multiple threads on this topic.
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Owning/buying a bar or pub
05-15-2013, 08:20 PM
Reread what MPM wrote. Then reread it again. Then get your capital together and consult a good business attorney. If you have one mantra owning a bar, it should be "do... not... commingle... my.. funds."
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Owning/buying a bar or pub
05-16-2013, 03:46 AM
Don't do it, I had my own wine bar at 23-24 and would never go back to it, the only good part was banging the hot EE girls I employed, working 80 hours a week for 1 k is a waste of time. If you ate not there 24/7 your staff will try and rob you and this is from someone people generally know not to fuck with. Also dealing with drunken fuck heads and having to throw them out gets old quick.
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Owning/buying a bar or pub
05-17-2013, 03:02 AM
Posh people get drunk and rowdy too and do not forget that often the only people headed to posh bars and spending money on week days are the top local drug dealers and the more sucessful hoods. Trying to control the mix of clientele is a ball ache and why you have I be there 24/7. I can remember one day being there late with a 6 and a half foot, notorious Jamaican criminal, one of my white lads from Rhodesia and the Owner of a large high end IFA company. Keeping that night on track was hard work and it's how you learn proper skill as a host.
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Owning/buying a bar or pub
05-17-2013, 12:02 PM
In the first couple of chapters of "Kitchen Confidential," Anthony Bourdain talks about this. How people that are successful in other disciplines decide they want to, and can, open and run a successful restaurant. I know you're thinking about a bar/pub, but there are enough similarities regarding the issues you'll have to deal with in running this type of business. He held every type of job in the restaurant business before he became a chef and ran his own kitchen, and subsequently his own catering business. He understands the business from both the perspective of an employee at each level, to being the boss. He discourages anyone from opening a restaurant, but also discusses how the best in the business stay successful. I don't write this to discourage you, but to give you an idea of what you need to think about. If you can, read the first couple of chapters of this book.
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