Bar Business Plan Home
You’ve come to the right place to create your bar business plan.
We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their bar businesses.
To write a successful bar business plan, you will first need to decide what type of bar you want to open. Do you plan to open a sports bar, a wine bar or a nightclub? What kind of alcoholic beverages will you serve? Will you have live music?
You will then need to gather information about your business and the bar industry. This type of information includes data about your potential customers, marketing strategies to reach your target market, and 5-year pro-forma financial statements (income statement, balance sheet and cash flow statement).
Sample Bar Business Plan Template
The following bar business plan example gives you the key elements to include in a winning business plan:
2. Company Overview
3. Industry Analysis
4. Customer Analysis
5. Competitive Analysis
6. Marketing Plan
7. Operations Plan
8. Management Team
9. Financial Plan
Bar Business Plan FAQs
What Is a Bar Business Plan?
A bar business plan is a plan to start and/or grow your bar business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your bar business plan using our Bar Business Plan Template here.
What Are the Main Types of Bars?
There are many types of bar businesses. Many bars are on the more affordable side and are known as dive bars. Sports bars are also a very popular business option. There are also posh and luxurious bars that offer high-end alcoholic drinks. There are trendy bars that offer the latest trends in cocktail and beer offerings. Other bars are location-focused and are unique to the area of town or location that it is in. Many bars also serve food as an option to accompany the alcoholic drink choices.
What Are the Main Sources of Revenue and Expenses for a Bar?
The primary source of revenue for a bar are the alcoholic drink items and food sold at the establishment.
The key expenses for a bar are the costs to purchase the alcohol (beer, wine, liquor) inventory, bar equipment and supplies, overhead expenses for the staff and rent, and any marketing costs the bar chooses to partake in.
How Do You get Funding for Your Bar Business Plan?
Bar businesses are most likely to receive funding from banks. Typically you will find a local bank and present your business plan to them. Another option for a bar business is to obtain a small business loan. SBA loans are a popular option as they offer longer loan terms with lower interest rates. Outside investors, crowdfunding, and/or friends or family are other typical funding options.
What are the Steps To Start a Bar Business?
Starting a bar business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Bar Business Plan - The first step in starting a business is to create a detailed business plan for a bar that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your bar business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your bar business is in compliance with local laws.
3. Register Your Bar Business - Once you have chosen a legal structure, the next step is to register your bar business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your bar business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Bar Equipment & Supplies - In order to start your bar business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your bar business. Your marketing strategy should include creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to start a successful bar business: