Friends, laughter and fun!!!
No, this isn’t a marketing slogan, but rather the images that go through your head when you envision yourself owning a sports bar. The ideal scenario is having an exciting game on every flat screen television in the bar, as the patrons are cheering loudly for their favorite team.
Owing a sports bar is the perfect life…or maybe not. The harsh reality is long hours, no weekends off and dealing with unruly customers will encompass your day at work. But, for those individuals that have a passion and are willing to learn the business, owning a sports bar can become a very successful venture.
Here’s how to start your own sports bar:
Why do most sports bars fail? Well, the owner hasn’t secured the required capital to remain a float once the doors open for business. Immediately set your goals, as you want the bar to begin making a profit within the first six months of operation, and hopefully recover your initial investment by year three.
When trying to determine how much capital is needed, you must come to the realization that the market will be very competitive. Remember, the competition will not be strictly other sports bars, as the market has expanded into other entertainment options.
Choosing a Location
The choice of location is depended upon how you want the bar to be portrayed in the market. This can be answered by deciding on the type of clientele your looking to attract: are you seeking impulsive neighborhood traffic or hoping to create your own buzz and become the market’s ideal sports bar destination.
The next decision is choosing the bar’s size capacity, as you have many choices choose from. Are you looking for a location with a cozy atmosphere, but limited space or a former nightclub that can be transformed into an ideal sports bar setting.
The location of the sports bar will heavily influence the name you ultimately choose, as you must ask yourself if the name fits the concept. Keep in mind; customers expect a certain type of atmosphere based on the sports bar’s name, so choose wisely.
Are You an Active Owner or an Absentee Owner?
It’s important to choose an ownership style before move forward with starting a sports bar. Are you going to be an active owner who is involved in the day-to-day operations or an absentee owner that hires an experienced general manager to run the entire operations, while you enjoy the profits of their labor.
If you choose to become an active owner, then it’s important to have sit-down meeting with your family. The commitment to start a sports bar can strain a family’s relationship, as most days; you’ll be away from home from 11am to 5am.
In either case, you must be involved in all decision-making process during the first few months of operations regardless if you’re an active owner or not. It’s important for you to meet-and-greet the patrons and become a recognizable face in the local business community.
Menu and Other Amenities
Generally, sports bars offer similar menus that include sandwiches, burgers, pizza and other appetizers. It’s important to do your research, and create a menu that will be popular to all sports fans.
Remember, the main attraction is showcasing sporting events, and all of the televisions must be aligned perfectly with each seat inside the bar. To stay ahead of the competition, you must purchase and install the latest innovative products in the audio and visual industry.