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Anybody own their own business?

Discussion in 'OFF TOPIC' started by Legatron4, Aug 1, 2014.

  1. Legatron4

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    I'm trying to get started on opening a sports bar in the next few years(yes I know, it's been done to death). I was wondering if anybody had any tips or advice on how to get started. I realize it's going to take a lot of money so we got that covered already. Any input would be appreciated.
     
  2. RhodyRams

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    my first advice would be to learn the business end of it first. And unless you are going to be there 100% of the time the place will be open, hire someone you can trust as manager/assistant manager. You are going to have liquor orders, food orders, time schedules, pay roll, cleaners, maintenance etc etc etc that you WILL NOT be able to handle by yourself. I have had 3 friends open bars/restaurants and they all failed because of this. Either they thought they could handle everything, or the person they hired freaked everything up
     
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  3. Sum1

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    My family owns our own business...but if there is anyone on this forum that could be able to give you some tips on that type of business it would be Stu.
     
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  4. RhodyRams

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    #4 RhodyRams, Aug 1, 2014
    Last edited: Aug 1, 2014
    I own my own business also, but a completely different field. Just offering my take on it from friends experience.

    A friend of mine was a builder and tired of the trade, so decided to open his own sports bar/restaurant. He asked me to make a custom copper 3D "sculpture" of a sunset. I used 5 4'x8' sheets of .023 copper bent fan style and used a 6" grinding wheel and torches to give it different textures and colors. The name of the place was "Sunset Cafe" in Watch Hill RI (where Taylor Swift owns a house now). He ended up selling the piece for around 6k before he closed his doors after 9 months because he didnt run it right. If I could find some pictures of it I will post them in a different thread
     
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  5. Greg Stone

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    I've owned my own business solely and been a part owner of two others.

    Subscribe to trade journals, go to conferences, learn the inside workings of the industry.

    Make a business model that tells you how many people have to come through the door each year to make a profit. Spend time at comparable competitors and make estimates of the number of customers.

    Make hard decisions on employees, there are no friends and relatives on the job even if they are outside the job.

    Unless the numbers make sense DON'T DO IT.
     
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  6. Legatron4

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    That's all really awesome advice thank you. I definitely am trying to get into some business lessons and go around some successful places to ask them how they did it. I think if you run it correctly then it's certainly possible but you gotta be 100% committed. It's actually been me and my buddy's dream to open one, one day. I'm trying to see if I can get a draw out how we want it. Ill post something soon.
     
  7. PhxRam

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    You are right in @RamFan503 wheel house. I am sure he will step in and tell you how to get started on the right path.
     
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  8. Dodgersrf

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    Don't hire friends or family.
    Keep it professional.

    Also everyone at the bar is going to want to be your friend.
    Again. Keep the relationships professional.

    Keep trouble at bay. The police will tell them to call you when there's trouble. Don't unless you actually need them. The calls will reflect poorly to the city council.
    By the way. Get the city Council on your good side. It will come in handy for special permits. Entertainment, etc.
     
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  9. PhxRam

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    And dont let employes be patrons at the bar.
     
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  10. Username

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    Step 1: Only hire the hottest bartenders. Regardless if they can read, or if English is their 1st language.

    Step 2: Bang them all.

    Step 3: Get sued for everything you own including the business.

    Step 4: Profit.



    Never owned a bar, but I'm pretty sure this is the standard business plan and it works.
     
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  11. raised_fisT

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    ^^ Step 5 : Allow ME to conduct all bartender / waitress "interviews". 2nd, 3rd and sometimes 4th interviews are crucial if you want quality.

    J/K - My advice is similar to PhxRam's.. don't let your employees get drunk at the bar while off the clock. Also... Keep it simple and build up and out as needed.

    BTW, what city are you thinking of?
     
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  12. Thordaddy

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    I've owned and operated manufacturing, rental and agri business. Never a bar/restaurant, but the first rule I've heard about sole props. of that sort ,whoever is there, makes the money.If you have the money buying one that's past the fatal first years is not AS profitable but a better bet
     
  13. Juggs

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    This is defiantly a good question for @RamFan503. Stu is doin big things up at Pigfeathers. I've never owned a business but I have been in charge of everyday operations for the last 5 years. I did everything outside of payroll. The best advice I've seen is hire someone you can fully trust to run things for you when ur not there. I've had the same assistant manager for 5 years now, we have been best buds for even longer. They aren't lying when they say hiring friends or family is rough. But I'll tell ya this, I know I can trust him 100% to get things done right. And you can't tell most employees to shut the freak up. Lol you get a little more leeway with a friend. But I could see it being easier without that.
     
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  14. CGI_Ram

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    I've always heard theft is a big issue in this business. By theft I mean cheating the cash register.

    This comes to the same point others have said about having the right staff in place.

    Keep us posted!
     
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  15. Legatron4

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    Well I live in Buffalo, NY. So most likely just outside the downtown area.
     
  16. Legatron4

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    More great advice. Thanks a lot guys. I've seen some bars have cameras right on the cash register and my father used to run a bowling alley so he had multiple issues with stealing and bartenders drinking(the whole friends working for you thing). I would also think if it's a more successful bar, you're able to pay people a little more which would bring in more professionals.
     
  17. Dodgersrf

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    Stu is definitely the guy you should be talking.
    You should pm . 503.

    Also don't hire hot chick's that don't k ow what their doing. If I'm waiting a half hour for my drink do to incompetence, most won't come back.

    Hot chick bartenders will bring in some guys. But if you have hot guys that know what their doing, the girls will come in. Bringing more guys. Guys that will stay and spend their money because they can get good drinks quickly. Also, the good bartenders will sell more if they don't drag their tails.

    But still talk to 503.
    Maybe you can track him down
    He's probably in the "post something about the person above you" thread making fun of me as I type.
     
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  18. RamFan503

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    Hey man. Been out all day yesterday and will be out for a while today. I own a restaurant and brewpub so maybe I can help. Let me know what questions you have and I'll try to answer them later as best I can.
     
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  19. RamFan503

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    Hire smart, well kept people and be good to them. And don't be afraid to write notes on applications based on our first impression.
     
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  20. Dagonet

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    I would also suggest doing a LLC or Scorp. Don't go in as a sole proprietorship. The self employment tax will kill you and you'll owe the feds on it if very profitable. I was in business for 16 years and it almost ruined me in the beginning (being a sole proprietorship). I did a S Corp very quickly. :cool:
     
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