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#21
05-14-2006, 10:19 PM
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Re: Starting your own business - A bar/club
I agree with you TT. your business should not be an extension of your dick.
guilds- i am not trying to be a naysayer. Its hard to be realistic without being a little pessimistic. as i said before, i encourage anyone to start a business. PM me if you have questions about it. Ill help you get set up. But a bar is not the right first business. there are exceptions sure, like the guy TT talks about whose Cindy Crawford husband. He has a butt load of money accessible. But he also has experience in the industry. Ill bet he consults with people about major business choices though. Yes, there will be people with negative comments, and for christs sakes YES, listen to us. You have to listen. If you can effectively look at the negative statements made and have a valid argument as to why they dont apply to you then you should pursue this further. But these arent just comments to knock some random guy down. does that make sense? 
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#23
05-14-2006, 10:21 PM
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Re: Starting your own business - A bar/club
[ QUOTE ]
[ QUOTE ] ...you are significantly under estimating your startup costs.... [/ QUOTE ] this is what i'm worried about. [/ QUOTE ] There are some great semi turn-key business plans out there that are a great starting point for expenses, Google can be your friend. Also if you are in a state like mine then you need to have 200k sitting around in the event you need to fight a lawsuit, in NY if your bartenders allow someone to get drunk and they drive home (with or without the bartender's knowledge)the bar can be held liable. Bars of course also include clubs and lounges. Make sure you have a liquor license attorney, a criminal attorney, and also an expediter to cut through your state/local red tape if its necessary (its a good investment to do so). TT [img]/images/graemlins/club.gif[/img]
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#24
05-14-2006, 10:21 PM
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Re: Starting your own business - A bar/club
[ QUOTE ]
[ QUOTE ] ...you are significantly under estimating your startup costs.... [/ QUOTE ] this is what i'm worried about. [/ QUOTE ] Yes, I was going to mention this. $20,000 is laughable, and $100,000 is a good starting point.
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#26
05-14-2006, 10:24 PM
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Re: Starting your own business - A bar/club
[ QUOTE ]
Whats that price though? Gray hair? [/ QUOTE ] Could be. I didn't have any when I launch it in my late 20's, I'm now getting closer to 40 and I'm preparing to look like Paulie Walnuts soon enough [img]/images/graemlins/wink.gif[/img]
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#27
05-14-2006, 10:28 PM
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Re: Starting your own business - A bar/club
[ QUOTE ]
I agree with you TT. your business should not be an extension of your dick. guilds- i am not trying to be a naysayer. Its hard to be realistic without being a little pessimistic. as i said before, i encourage anyone to start a business. PM me if you have questions about it. Ill help you get set up. But a bar is not the right first business. there are exceptions sure, like the guy TT talks about whose Cindy Crawford husband. He has a butt load of money accessible. But he also has experience in the industry. Ill bet he consults with people about major business choices though. Yes, there will be people with negative comments, and for christs sakes YES, listen to us. You have to listen. If you can effectively look at the negative statements made and have a valid argument as to why they dont apply to you then you should pursue this further. But these arent just comments to knock some random guy down. does that make sense? [/ QUOTE ] I wasnt talking about you specifically, but people like hawk, who basically say he will end up losing everything and probably have no real experience to back what they say up. Even though you shouldnt listen to people like that, its hard to get passed it hearing it all the time. My main point was, if you give it a go, work your ass off, even if you do fail, its not going to be the end of the world, its just a reality you may have to plan for.
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#28
05-14-2006, 10:29 PM
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Re: Starting your own business - A bar/club
quids,
"I wasnt talking about you specifically, but people like hawk, who basically say he will end up losing everything and probably have no real experience to back what they say up." What hawk describes is what happens to almost everyone who opens up a bar like the type OP describes having little or no experience in the bar business.
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#29
05-14-2006, 10:33 PM
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Re: Starting your own business - A bar/club
[ QUOTE ]
quids, "I wasnt talking about you specifically, but people like hawk, who basically say he will end up losing everything and probably have no real experience to back what they say up." What hawk describes is what happens to almost everyone who opens up a bar like the type OP describes having little or no experience in the bar business. [/ QUOTE ] Obviously, Im just making the assumption that the OP is in the very very early stages, and is going to do the necassary research, and work his ass off, and do the things you must do to succeed. i realise that even if you do, do all these thigns you still ARENT gauranteed to make it, but most people imo, just like to be negative to be negativve. These are hte people that Im telling the OP he will run into, and to not listen too.
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#30
05-14-2006, 10:33 PM
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Re: Starting your own business - A bar/club
[ QUOTE ]
quids, "I wasnt talking about you specifically, but people like hawk, who basically say he will end up losing everything and probably have no real experience to back what they say up." What hawk describes is what happens to almost everyone who opens up a bar like the type OP describes having little or no experience in the bar business. [/ QUOTE ] No point in me continuing... El D just said it all. The OP should get a job, manage a place for a year or two, build his reputation within the industry before jumping into it. TT [img]/images/graemlins/club.gif[/img]
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