Opened a Bar

[EMc]

T,

Have you looked into staff yet? When getting bouncers it isnt best just to get the biggest guys you can find. I like to think Im a pretty good bouncer, and its not just cause im big and look like I can snap someone in half. I have good skills in navigating the crowd and dealing with situations in a non-violent manner. Sure, there are times you need to be a prick, but thats not often. Ususally its best to find someone with experience too, especially in a new establishment.

[Thremp]

EMc,

Yep, we have looked into that. I'd prefer keep well muscled retards away from people, and using people who have conflict resolution skillz. But this is the other's guy biz. He handles all the clowns. I just interact with our head bartender and collect checkz. And pay them obv. [img]/images/graemlins/frown.gif[/img]

[guids]

Thremp, congrats.

Im also signing papers this week for my first night club. What kind of "behind the scenes" contracts did you have drawn up? Im the official owner, my partner has the liquor license, and the other 2 investors are silent partners, but we drew up liability contracts/exit strategy etc so there is no problems later on, the state doesnt actually know about the investors as far as operations goes (one of the investors cant own or operate an establishment selling liquor), but those contracts guarantee exit startegies/liability issues etc. What is your liability insurance costing you? What are you projecting for sales and liquor orders? I like the tab idea for free drinks that comes out of your end, but what you might want to look into is building in an "advertising budget" every month and use that for free drinks/radio spots etc, than you can deduct that

[Thremp]

guids,

I wouldn't mind talking shop with you when I become more knowledgeable about the industry. Luckily the bar is small/low overhead, and I'm robusto atm so I'm doing all financing to get it up and running. We don't really have any behind the scenes agreements. Since its just two of us and we've known each other from before we'll likely work out an acceptable exit strategy in the next couple weeks. That was actually my 2nd question wrt the dissolution of these businesses (LLC set up as S-types with 2 people set up as 50/50 shareholders). I assume I either of us can sell out our shares at any time. We'll likely have an agreement to not for atleast a set period of time.

I have not done our breakeven numbers yet. We have to get a set number on how much the rent is etc. I'm roughly projecting maybe 4k in liquor sales and then according door charges to breakeven each month? This is real off the cuff. On the 24th we'll move forward with a location etc and really get going.

[guids]

[ QUOTE ]
guids,

I wouldn't mind talking shop with you when I become more knowledgeable about the industry. Luckily the bar is small/low overhead, and I'm robusto atm so I'm doing all financing to get it up and running. We don't really have any behind the scenes agreements. Since its just two of us and we've known each other from before we'll likely work out an acceptable exit strategy in the next couple weeks. That was actually my 2nd question wrt the dissolution of these businesses (LLC set up as S-types with 2 people set up as 50/50 shareholders). I assume I either of us can sell out our shares at any time. We'll likely have an agreement to not for atleast a set period of time.

I have not done our breakeven numbers yet. We have to get a set number on how much the rent is etc. I'm roughly projecting maybe 4k in liquor sales and then according door charges to breakeven each month? This is real off the cuff. On the 24th we'll move forward with a location etc and really get going.

[/ QUOTE ]

Id hire a decent corporate lawyer asap, I dont know how much they are as mine owes me favors and is takign care of it for free, usually in the "exclusive nightclub" world, setting them up vip whenever they come in in exchange for their work is enough. you should have exit and dissolution and liablity agrements setup before hand so you dont find yourself stuck in a [censored] situation 2 months in when you guys are pulling in the most cash. 4k in liquor sales per night or per week? make sure you pit the wholesalers against eachother and negotiate on the best prics for everything, also make sure you get ahold of a local cigarette rep, and coke rep and get as much free crap out of those guys as you can.

[Thremp]

guids,

Thats 4k a month plus maybe 700 in covers to pay the bills. We do have a corp attorney who is a semi-friend. He'll draft everything up early next month. Until then I'm looking at different options for each of the possibilities.

Despite being labeled a "dance club" this is not. Its a dive, but for the area will probably be middling in terms of quality.

We already have a pretty solid thing going for wholesale things. Our sound equipment is all at cost. Glassware is free etc etc. I'll have to post more for more ideas etc as time moves onward.

[guids]

[ QUOTE ]
guids,

Thats 4k a month plus maybe 700 in covers to pay the bills. We do have a corp attorney who is a semi-friend. He'll draft everything up early next month. Until then I'm looking at different options for each of the possibilities.

Despite being labeled a "dance club" this is not. Its a dive, but for the area will probably be middling in terms of quality.

We already have a pretty solid thing going for wholesale things. Our sound equipment is all at cost. Glassware is free etc etc. I'll have to post more for more ideas etc as time moves onward.

[/ QUOTE ]

Im assuming 4k a month in profit, not gross correct? if not, you should probably aim for about 3 to 4 times that, even 4k profit is nothing, you can double that at even the smallest hole in the walls. Also, id look into my earlier suggestion of buying your goldentee/bags/silverstrike/cig machines yourself, that is a huge source of income in the right places, ecscpeiaclly since its "a cash business". What are you paying in liability insurance?

[Thremp]

guids,

No that was the "breakeven amount" We'll like do far more than that each month.

I do like the cig machine etc idea.

We still have to look into insurance... which I think depends on a place. Not real sure. I think rough quote is like 250 a month?

[guids]

[ QUOTE ]
guids,

No that was the "breakeven amount" We'll like do far more than that each month.

I do like the cig machine etc idea.

We still have to look into insurance... which I think depends on a place. Not real sure. I think rough quote is like 250 a month?

[/ QUOTE ]

ya, sound right for the venue, depends on how large the place is, how large your policy etc, we are looking at about 1500, but we have a kitchen and about 10ksqft worth of bar for a million+ policy.