The craze for attending sports bars is getting new definitions. The concept of sipping cold brews and watching favorite sporting events has much to offer when it comes to business. Sports bar has high entrepreneurial appeals. It involves great fun, excitement and financial rewards. The growing acceptance of sports bar inspires people who are looking for interesting business options.
There are people who are readily looking forward to enter the business of sports bar but they have least idea how to proceed. The following tips are given to benefit those people.
How to Start and Run a Sports Bar?
- The first step towards starting a sports bar business is determining a location. You should not take it casually. Proper research and market study require for the selection of the location. Otherwise, it would not fetch you your desired financial benefits. While determining a location for your proposed business, make sure that it is located in an area that gets great footfalls of shoppers and visitors.Your chosen location should have enough parking spaces, as well.
- Beat your competitors. There is high chance that your business would face tough resistance from your competitors. Therefore, you have to pinpoint the gaps where your competitors still fail to score. It might involve extensive research.
- Get your business registered at competent government authority in your area. Make sure to get a valid commercial liquor license as you are going to serve beer. The best way to know about the licensing requirements needed is to visit the office of your town clerk. The licensing process might be lengthy. So, apply for it as soon as you determine location.
Business Plan and Start up Cost
Business plan for a sports bar should be written in detail. The best way to get a business plan is to have it developed by a professional. It should contain all the features of the business ranging from licensing and registration to location and marketing strategies.
An exemplary sports bar business plan is the one that includes key object of the business and its goal. It should also speak of potential resources to be employed for fulfilling financial needs.You would require minimum of capital of 100,000 USD to start this business.
How to Decorate a Sports Bar?
Sports bar is a place that is meant to serve the guests with high level of relaxation and comfort. So, make sure to decorate the interiors of your sports bar with color combination that is soothing to the eyes and other senses. The light arrangements should not be as loud and bright as to upset the guests. The furniture and other furnishing equipments should be stylish and comfortable.