Have you been considering starting a pub business? If it’s your first time in wanting to run something as big as a pub, chances are you’re confused.
Taking on a brand new venture can be daunting. So much insight to dig into and so many things to decide on! Take a deep breath and here’s our first tip, don’t stress on the small details. We have bigger things to leap into. You might hit your favorite bar and wonder how did the owner pull this all off? It’s easy to think that they had it easy. However, they all started where you are standing right now.
So let’s do this from scratch, shall we?
How to Start a Pub Business?
Do You Have Training?
It is mandatory that you take up proper training for yourself. You’ll be hiring employees to handle your pub. So you must be familiar with the skills to hire competent employees to help run your pub successfully. Remember, how your staff presents themselves and behaves will reflect the essence of your business.
Also, check How to Start a Coffee Business!
Are You Updated with the Laws and Regulations?
Starting a pub business means there will be a lot more legal permits, laws, and regulations involved. If you’re not familiar with them, consult a lawyer and/or a police officer.
Writing a Solid Business Plan
With any business, there is a certain structure you need to follow. The first step to start on your dream project is to write out an in-depth plan. If you’re not sure how to do this, we’ll break it down for you.
The executive summary is like an abstract of a research paper or a better version of a synopsis to a book. So whoever reads this will be introduced to your idea and get an overall idea about the highlights.
In this part, you have to establish which legal entity you’re going for. State your vision and mission. Focus on the values and goals of your pub. Keep it original and deliver it naturally. Your mission statement should give away the idea of your pub bringing dedication and something unique.
In this section, you answer the 5W 1H questions. Don’t spare any details regarding your target market, your tagline, theme, location of your pub, and why. Dive in-depth.
You’re about to enter a business industry that has competition, so you have to provide what you know about your competitors. You have to highlight what they lack that you’re fulfilling with your business.
Prepare a SWOT Analysis
Focus completely on the Strengths, Weaknesses, Opportunities, and Threats associated with your pub. This carries the opportunity to compare with your competitors.
Product Line and Menu
For this part, take the time to curate a menu with all the dishes and drinks, along with names, you want to serve at your pub. Draw up a competitive alcohol selection by comparing it with what other local pubs are offering.
Outline long term strategies and short term tactics for promoting your pub. Talk about branding, and in which areas you would incorporate. Your messages will be crafted depending on your target market, your pricing should be competitive, and offers will depend on the periodical crowd. What about having an online presence and pre-promotion before even opening. This way you can create hype.
In your financial plan, break down every plausible cost for your pub. You should lay out a clear log of the startup expenses to initiate operations. Let your reader know clearly how you’re financing your business and whether you’re looking for a loan or for investors.
The Legal Aspect
Licenses and Permits
Have you come up with a name yet? The fictitious name needs to be filed and legitimized. To do that, you need to go to your local government office and register your business. Acquire your licenses such as the business and liquor license and take on health permits.
Someone running a new pub must have all the following insurance protect your assets, keep you out of liability and potential damage –
- Worker’s liability insurance
- Public liability insurance
- Building insurance
It’s best to consult a reliable lawyer to incorporate appropriate policies according to your business system.
The location of your pub is important to keep customers rolling in. Where you place your pub will have a huge impact on your sales. Make sure the building you choose for your pub is the right one. This is to ensure customers enough parking space and easy access. Once you’re readily sure, lease or buy the place.
Staff– Any staff you hire should be friendly and knowledgeable. Especially the bartender must be competent and should be able to ship up signature drinks.
Reach out to and keep a good network with suppliers. If there’s the flexibility to work with multiple, make sure to keep tabs on the latest spirits. It goes without saying that stocking up on the local favorites will keep customers hooked to the seats.
Make sure you have complimentary food with people’s favorite booze. Don’t leave out the non-drinkers and keep some fun dash of drinks.
Focus on pre-promotion over social media. Creating hype by boosting attractive content based on your target group and location will get the word around. You can’t leave out friends and family when it comes to promotions. Let the word get around by mouth. Apart from that, you should pay to advertise via banners and advertising signs in your area to grab attention. Incorporate your pub’s logo, name and color theme as much as possible to become recognizable.
Starting your pub business can be quite a hectic journey. But if you have passion, then you can fuel through. We promise you it’s fast-paced so developing your startup into a local success is inevitable! If you start out with a strong business model and keep improvising to align with your brand – you will become a business tycoon in no time!
Learn more about How to Start a Restaurant Business!