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serenity
Student
Rock Hill, South Carolina
1
Question
Updated
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What are the pros and cons to owning a bar?
what are some pros and cons to opening up a bar with my bestfriend at 21
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Glaucia Matos
Sales Transformation Director
1
Answer
São Paulo, Brazil
Updated
Glaucia’s Answer
I had this same idea when I was in my twenties, so I'm going to share the pros and cons I considered:
Pros:
1) Social environment: I'm a extrovert, so I really enjoy meeting new people and interacting with people from different backgrounds
2) Creativity: Owning a bar allows you to express your creativity through cocktails, food, events, music, décor, and more. My idea was to have a bar with live music on weekends and some game nights during the week.
3) Earnings potential: A well-established bar can generate high revenue and profit. You can also host private events and create loyalty programs to increase your earnings
4) Independence: You make all the decisions about the business and its strategy. For me, it was also an opportunity to apply the business knowledge I gained in college.
Cons:
1) Work hours: Bars operate during long, late hours, including weekends and holidays.
2) Regulation: Bars are heavily regulated, which requires a strong management and can lead to additional costs.
3) Investment: It requires a significant investment for rent, décor, staff, and licenses/permits.
4) High liability: Alcohol increases risks, intoxicated customers can cause damage and are often challenging to handle.
My decision was not to pursue the idea at the time due to the required investment and work hours, but it's still a future plan for me
Pros:
1) Social environment: I'm a extrovert, so I really enjoy meeting new people and interacting with people from different backgrounds
2) Creativity: Owning a bar allows you to express your creativity through cocktails, food, events, music, décor, and more. My idea was to have a bar with live music on weekends and some game nights during the week.
3) Earnings potential: A well-established bar can generate high revenue and profit. You can also host private events and create loyalty programs to increase your earnings
4) Independence: You make all the decisions about the business and its strategy. For me, it was also an opportunity to apply the business knowledge I gained in college.
Cons:
1) Work hours: Bars operate during long, late hours, including weekends and holidays.
2) Regulation: Bars are heavily regulated, which requires a strong management and can lead to additional costs.
3) Investment: It requires a significant investment for rent, décor, staff, and licenses/permits.
4) High liability: Alcohol increases risks, intoxicated customers can cause damage and are often challenging to handle.
My decision was not to pursue the idea at the time due to the required investment and work hours, but it's still a future plan for me