bar owner salery/profit

[GhettoPeanut]

I know it probably varies, and the owner of a chain must make allot more then someone out in the sticks, but does anyone have any info on what the numbers are like? friends and I where talking about this, we seem to be split. some think that it's the same as a restaurant, you do it because you love it, not because you want money. Some seem to think that it's a great way to make allot of money.

I figure there are three situations

1 - Restaurant that sells alcohol, but is not really a bar
2 - Bar/restaurant like a pub and such
3 - Strait up bar/club which is really just for drinking

Any input is appreciated, I know it varies allot, but there must be some general info out there that exclude the outliers.

Thanks,


Maybe this came off the wrong way, i'm not looking to get a liquor license, or even open a bar, i'm just curious as to what the numbers are like vs the work hours. my personal impress is that most bars really dont make that huge a profit margin.

 

[James Bond]

Originally posted by: GhettoPeanut
I know it probably varies, and the owner of a chain must make allot more then someone out in the sticks, but does anyone have any info on what the numbers are like? friends and I where talking about this, we seem to be split. some think that it's the same as a restaurant, you do it because you love it, not because you want money. Some seem to think that it's a great way to make allot of money.

I figure there are three situations

1 - Restaurant that sells alcohol, but is not really a bar
2 - Bar/restaurant like a pub and such
3 - Strait up bar/club which is really just for drinking

Any input is appreciated, I know it varies allot, but there must be some general info out there that exclude the outliers.

Thanks,

A lot.

 

[darkxshade]

Have fun getting that liquor license.

 

[ggnl]

Many bars go out of business before ever earning profit.

 

[GasX]

A busy bar makes money had over fist for the bartenders robbing you blind. If you don't know the business, you have no business getting into the business and if you decide to go into businses anyway, someone is going to give your business the business.

 

[leftyman]

mmm..beer

 

[Gunslinger08]

Also, in some states you can't open just a bar. In Virginia, you also have to get a certain percentage of your revenue from food sales.

 

[GhettoPeanut]

made a quick edit to the orriginal post, this is not me looking into opening a bar, just looking to answer a question.

I'm in VT, laws are the same, all Bars are technically restaurants.

 

[Titan]

Originally posted by: GhettoPeanut
made a quick edit to the orriginal post, this is not me looking into opening a bar, just looking to answer a question.

I'm in VT, laws are the same, all Bars are technically restaurants.

Where in VT? Montpelier doesn't need another bar.

Gotta love Charlie-O's where they are required to answer the phone "Charlie-O's world famous bar and fine dining." Chips, peanuts, and beef jerky making up the latter. Yeah you gotta serve food.

Edit: you are talking to a bona-fide Montpelier barfly and an expert on VT culture, so I may be able to offer some insight.

Edit2: the only real way I see to make a profit at a bar in VT is to be in a college town, such as burlington. Sell cheap beer and pack'em in. Any place offering shows has to be in burlington or the bands will cost too much. If you wanna be in the stix, have a nice TV for the sox game, ok kitchen, and pool tables along with big buck hunter and you'll do ok. As long as you're on a main (paved) road.

 

[Billb2]

Originally posted by: James Bond

Originally posted by: GhettoPeanut
I know it probably varies, and the owner of a chain must make allot more then someone out in the sticks, but does anyone have any info on what the numbers are like? friends and I where talking about this, we seem to be split. some think that it's the same as a restaurant, you do it because you love it, not because you want money. Some seem to think that it's a great way to make allot of money.

I figure there are three situations

1 - Restaurant that sells alcohol, but is not really a bar
2 - Bar/restaurant like a pub and such
3 - Strait up bar/club which is really just for drinking

Any input is appreciated, I know it varies allot, but there must be some general info out there that exclude the outliers.

Thanks,

A lot.

And Uncle Sam knows very little about how much cash actually flows through the tappers.

 

[Chryso]

Originally posted by: James Bond

Originally posted by: GhettoPeanut
I know it probably varies, and the owner of a chain must make allot more then someone out in the sticks, but does anyone have any info on what the numbers are like? friends and I where talking about this, we seem to be split. some think that it's the same as a restaurant, you do it because you love it, not because you want money. Some seem to think that it's a great way to make allot of money.

I figure there are three situations

1 - Restaurant that sells alcohol, but is not really a bar
2 - Bar/restaurant like a pub and such
3 - Strait up bar/club which is really just for drinking

Any input is appreciated, I know it varies allot, but there must be some general info out there that exclude the outliers.

Thanks,

A lot.

Fixed

 

[summit]

there's a lot of upkeep cost, lawyer fees, permit fees, staff wage, and other things to factor in. it varies, but you must sell some sort of food.

 

[IceBergSLiM]

its really LOCATION LOCATION LOCATION

 

[GhettoPeanut]

i think i know how to figure this out.

 

[vi edit]

A single bar in most locations isn't going to make you wealthy, especially when you break down the $/hr that you as an owner/employee put into it.

There are some definite perks to being self employed - writing off personal expenses like car leases, home office deduction, ect that make that income a little more tasty than non-self employed people can't get. But the hours, stress, and initial gamble on the capital are brutal.

Real money doesn't start flowing in until you can open up multiple properties and start spreading costs across multiple cash flows.