by Homerun Nievera, World Executives Digest |
Many men dream of owning a pub; their very own man cave where they can hang around with their friends, but that will also help them turn profit. If you are serious about it, you can become a successful entrepreneur that does something very cool for a living, or it could be a great source of some additional funds. However, owning a pub is a business, and you’ll have to invest a lot of sweat into it before you can sit back and enjoy.
Is owning a pub for you?
The thing is, you really need to be cut out for it. Although starting a pub business is similar to any other business in some steps, there are a couple of extra things to keep in mind:
- You have to be good with people – Interaction with people is something completely unavoidable here. Be ready to meet all sorts of people, and be prepared to always act politely. If you feel awkward around people, it’s ok – in time, you’ll become more relaxed. If you’d rather avoid working with customers, the pub business probably isn’t your thing.
- You have to be responsible – Sure, running a pub might sound like nothing but fun and games, but the fact of the matter is – you’ll be surrounded by alcohol. However, if you can refrain from getting drunk, at least until the later hours, you’re okay.
- Frisky situations – In addition to alcohol, you’ll be surrounded by inebriated people and it is you who needs to be the responsible person. The problem is that you’ll have to accept all types of customers in order to broaden your business and this means knowing when to play nice and when to show teeth.
Necessary steps for starting a pub business
Now that we’ve covered the basics, let’s talk about actually setting things in motion. Here are six steps to get you going:
- Come up with a business plan
The thing is, you’ll have to consider the competition in the desired location; an area that’s packed with similar venues is in no way a good place to get your pub business going. Additionally, you should carefully outline your business structure and pick the pub theme!
- Register your name
Making sure that you’ve set up a legal business entity by registering your pub’s name with the county clerk is a key legal step of owning a pub.
- Obtain finances
If you don’t have enough money to get things going, rest assured that you’ll have to get a loan or find investors. Of course, if you have a large number of friends, chances are that some will be keen on getting into the pub business with you.
- Stuff that you’ll need
A pub isn’t a pub without a draft system and the same goes for glasses, plates, silverware and a sound system. Of course, a jukebox is definitely a must. Also, as an Aussie pub owner, think about organizing an outdoor part of your pub and installing cafe blinds in Sydney, so that your customers can enjoy the view and the outdoor environment from a comfortable spot.
- Liquor license and health department permits
Not debatable. Don’t even think about opening a pub before you get all the necessary paperwork.
Customers will remember a good looking, interesting menu and all the other details that are unique and special. This part we leave to you – a good pub owner doesn’t mind showing their creative side. Hire employees and you’re good to go!
Owning a pub business is a fun and unique professional venture. Owning a pub can prove to be a rewarding experience because you’ll always have a fun place to hang out. Always remember: many people talk about owning a pub, but not too many actually decide to give it a go.
Homerun Nievera is the publisher of WorldExecutivesDigest.com. He has interests in several tech and digital businesses as director and chief strategist.