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Anyone ever open or manage a bar? - Page 2

post #16 of 21
Quote:
Originally Posted by patrickBOOTH View Post
I think this all has a lot to do with the kind of bar you are opening and where it is. A sports bar in Central NJ is going to have a different clientle than a cocktail bar on the Upper West Side of Manhattan.
very different cost base too. As an investment, I'd take the Jersey sports bar.

On the whole I think that anything related to hospitality is a bad investment. People grossly underestimate that business, very hard.
post #17 of 21
Quote:
Originally Posted by Matt View Post
very different cost base too. As an investment, I'd take the Jersey sports bar.

On the whole I think that anything related to hospitality is a bad investment. People grossly underestimate that business, very hard.

I would say there is a lot more risk wit the Jersey sports bar as well. Think of the riff-raff it will attract.
post #18 of 21
I view opening a bar the same way I view my (real) goal to open a used bookstore:

If you truly think you'll enjoy, don't expect to make any good money, and are already independently wealthy.... go for it.
post #19 of 21
Quote:
Originally Posted by patrickBOOTH View Post
I would say there is a lot more risk wit the Jersey sports bar as well. Think of the riff-raff it will attract.

This statement is an example of why so many businesses fail. Riff-raff pay your bills. They aren't going to burn down your bar. You have access to the majority of the 21+ population when you have a sports bar.

A high end bar is dealing with a very small market segment. When your market is that small, the competition is fucking brutal. The established favorites may be run by multi-millionaires who can take a loss for a year or two in order to run you out of business. Also, loyalty plays a huge factor in niche markets. It'll be hard to draw customers away from their established favorites. Beyond that, the favorites rarely stay in business for extended periods of time. There are tons of companies that would appear to be successful that just aren't making money. Niche luxury businesses do this a lot.
post #20 of 21
Quote:
Originally Posted by HgaleK View Post
This statement is an example of why so many businesses fail. Riff-raff pay your bills. They aren't going to burn down your bar. You have access to the majority of the 21+ population when you have a sports bar.

A high end bar is dealing with a very small market segment. When your market is that small, the competition is fucking brutal. The established favorites may be run by multi-millionaires who can take a loss for a year or two in order to run you out of business. Also, loyalty plays a huge factor in niche markets. It'll be hard to draw customers away from their established favorites. Beyond that, the favorites rarely stay in business for extended periods of time. There are tons of companies that would appear to be successful that just aren't making money. Niche luxury businesses do this a lot.

I understand what you are saying, but dealing with the crowd at that kind of place could be what takes a toll on you. Also accessability of such places makes a difference. When I was in school and lived in Jersey nobody ever went out to bars, we drank at home and watched TV. Here in the city I have some best friends in which I have never seen their apartments. It is always out at a bar to do basically anything. Also rowdy drunks are a liability in themselves. I have a few friends that own cocktail bars in the city. It is much easier to handle than the rowdy places. These are not "high end", but even so the spread between a high end bar and a dive in New York isn't really all that much in terms of their prices.
post #21 of 21
Have you ever worked in a bar, as a bartender, or in the beverage industry in any capacity? If you haven't, this would be probably the worst idea of your life.
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