Is opening a bar in this economy a bad idea?
 

I know it would be better to try when things are good but with the money that
some bars make I would be glad to make just half their regular income.

How is it being financed?

Depends on where its located and how much it costs but i would think opening a bar or a funeral service would be good business with the state of the economy as it is :upsidedow

Isn't a bar recession proof!

That is totally flexible.

I'd think a funeral service would be more expensive than a small bar though.

I've seen plenty close in my life and worked for a couple that folded so I don't know.

Don't open a bar unless you can lose all the money invested without giving a crap. Huge failure rate for bars. You may hit it big, but the odds are that it will be a money pit. If you have the funds and don't give a shit about losing the money, have some fun (and don't forget the VIP room)!

Too bad we don't have Euthanasia for humans, I would sure vote for you!

Well, if you are paying with your cash I would think twice. Then it really depends on your personal wealth. Do you have enough in cash to pay for at least 12 months of living expenses after spending the money it will take to open the bar?

If you are very cash rich right now or have investors willing to fund it then it's something to consider I guess...

farmacy would be also good :)

Everybody is sick at this days :(

open it, there will be loads of out of work people drowning there sorrows for you to make a fucking killing!

Yeah, that's the only way to really open one for sure.
The amount of money I would personally put in is not that much; there will be
other money that I know I can get.

My cash exposer would be limited; but I still don't want to lose money either. :1orglaugh

The big money would come from sources I know.

Herbal pharmacy market is kind of flooded in this area though. :1orglaugh

I don't think bars failure rate has anything to do with the state of the economy!

I have invested in bars before and it is hit or miss. There are better places to put money I think.....

What type of bar did you try?

I would never try a disco(club); those fail faster than anything.

I plan to open a bar too.. I had the same question as you.

Opening a nice bar can cost me up to 100 000 euros here. But since adult industry is under recesion (like many other industries), makes me seriosly consider this.

The hard part is the management. If you can't afford time, then you should forget about.
There is a lot of stuff do do in a bar to make it work well.

If you have to ask, then the business would fail whether the economy was good or bad.

Thanks for the rhetoric, but I was looking for opinions, not quotes you could pull out your ass.

True, I've done 2 start up bars as a key employee.
One did good, the other faught with me on every issue and died in a few months.

It was seeing the other one fail that makes me think I might be good at this because
I called it as it happened. I finally quit and they were begging for me to come back
but the damage they had done was too deep already.
There was no point in jumping back on a sinking ship.

Sports bar in the US failed completely.

Class cocktail bar in Europe did ok, but I was one of many investors and it took years to get a return.

All about location.are you thinking a pub or a night club?

Pub, with some basic food.

Sports bars can get kind of clickish so that wasn't really that easy to do.

If you're looking at a night club/disco I'd say forget it; it's too competitive, too many non-loyal patrons who jump from hot spot to hot spot, etc...

If you are looking at a pub/dive bar/sports bar and grill I'd say it's a very solid investment. Generally, you build up a very nice loyal client base and as long as you offer quality food, quality beer and fair prices, you should be in business for a long time. A hot waitress or two will never hurt either, but service > looks for that kind of place so make sure she has both :)

Yes, location and management.

Yeah, a big hell no on the big night club thing. No way I'm even trying that.

Coach was opened during the depression so was HP.

Sort of related but I was in the liquor store the other day and was sort of amazed at how busy they were.

So when i was checking out I commented to the owner how it appeared he had good business with the bad economy.

He told me business has stayed the same as far as people buying, the only difference was that instead of buying Grey Goose they were buying Smirnoff.

Same amount of people buying just their buying the cheaper stuff.

most fail regardless of when you open, anything retail = 95% chance of disaster

That's totally related because people go to the liquor store instead of the bar
when money is short.

So if business is the same for the liquor store then maybe the bar is still doing ok.

Location, location, location.

Where do you want to open it and who would be the clients you market to?
I've frequented various types of bars and have wasted WAY too much money at each. However, each bar I wasted money at was because someone else introduced me to it, I got comfortable and was a repeat customer.

Various threw it down nicely - if you have a club culture, you're fucked on return business as young'uns are a sketchy crew. On the flip side, if you live where there is NO bar for locals, you could probably make a mint off a garage with attached restroom; pending ou don't live in a town with population of 5. So many details.

Fuck. I dunno.
Lemme know where it's at and I'll visit if I'm driving that way for some reason.

people get depressed and want to drown their sorrows in a beer.

haha - pretty true :thumbsup

I want to drown my sorrows in your breats. :)

well the bar i was in the other night seemed to be doing well
also resteraunts seem to be doing well

i wonder how well the bar would do if someone opened up a bar next door to them and started giving away all the booze you could drink for free?

but

If they wanted premium booze like Grey Goose or Crown they would have to go next door.

:1orglaugh

Based on the bar havens I've been too, the premium bar would do well.
The line at the free bar is way too long and the crowd is made of too many wierdos
looking for free drinks so people who were headng to the free bar end up drinking
in a better atmosphere next door.

The odds are stacked against the success of a bar opening and succeeding even in a good economy.

I wonder what the difference in profit margin is between Grey Goose and Smirnoff.

Don't alcohol sales usually thrive during a recession?

I also hear bars are a good way to wash your money. :costumed13

come on over. lol

I wouldn't be surprised if the profit were higher for Smirnoff.

I don't know. I always hear about dive bars doing quite well because they have fantastic loyalty. You always hear of the bartender making great money. Lots of cash. The dive bars you hear about that don't make money you look at and see all sorts of "obvious" reasons why the customers aren't there. Dirty bathrooms, lack of entertainment, no community feeling, etc.

I've known a couple successful bars and the owners/managers of each were very charismatic, very hands-on, and the loyal clientele absolutely loved them. If I were to ever start or buy a bar I know the perfect guy to run it... he has had great success with running bars, he is just an idiot with money.

I hear ya, for a small bar the people working there are the key.
A good bartender will bring in people from his/her former gig also.

Hey, one day I will take you up on that offer.

YeeeeeeeeeeeHaaaaaaaaaaaaaaaaaaaaaaaa!!! :1orglaugh

I would asume it's the same for both. (or close)

Say it's 10%

10% of a 2 dollar shot is 20 cents
10% of a 6 dollar shot is 60 cents

You have free liquor bars where you live?

Plan on being very hands on in running it, if you want to make anything. Bartended in one off and on for years, and the owner of more than 30 years is one of my best rt friends.

He still works some every day that it is open.

Not only will you need to keep an eye on help that will steal you blind, you can't overlook the cost of liability insurance.

One drink served to the wrong person who goes out and kills someone else can wipe you out.