Real Estate Bar & Night Club Financing

By Frank Vogel

Real Estate Bar Tavern Night Club Financing shines a light on these issues to help bar owners prepare properly. This book helps you find your way through the maze of licensing and permits and developing a business plan.

• Language: English
• Publisher: Frank Vogel
• Release date: Jan 1, 2024
• ISBN: 9798224909452

Frank Vogel

Frank Vogel founder of Winston Rowe and Associates is a national consulting and due diligence firm that specializes in short- and long-term financing solutions for the purchase, refinance, cash out and development of a variety of commercial properties nationwide.

Book preview

Introduction

The bar business continues to grow; however, securing running capital and having knowledge about the business are cited as the two biggest reasons new bars fail. Real Estate Bar Tavern Night Club Financing shines a light on these issues to help bar owners prepare properly. This book helps you find your way through the maze of licensing and permits and developing a business plan.

The following are links to easy to read, well organized reference books that every commercial real estate investor should have in their professional library.

Commercial Real Estate Finance

Beginners Guide Commercial Real Estate

How to Fix & Flip

Tips for Real Estate Investors

Commercial Mortgage Brokers Handbook

Multifamily Investing A Comprehensive Guide 

Self Storage Real Estate Investing 

Rental Property Real Estate Investing 

Winston Rowe and Associates provides free advice and analysis for commercial real estate financing. You can contact us at 248-246-2243 or visit us online at this link to our website Winston Rowe and Associates.

Chapter 1

Overview Of Owning A Bar

While there can be plenty of glitz, glamor, and excitement, opening one of these establishments often requires a sizable initial investment. And don't forget the ongoing costs and risks, such as the COVID-19 pandemic, which shuttered many of these businesses either temporarily or permanently.

But if you play your cards right, you can set yourself up for a really rewarding and fulfilling future. In this article, we go through some of the major startup costs and ongoing expenses, not to mention other considerations that you'll need to know before you open a bar or other related business.

The bar and tavern industry has grown steadily in the United States, creating a good opportunity for people who want to own their own businesses.

There are several factors to consider when you're starting out, including getting your business plan, determining your location, registration, getting permits and licenses, and marketing.

Startup costs are high, and often include location, permitting, inventory, wages, and insurance.

Alcohol and food have some of the highest markups and help rake in high gross profit margins.

Consider some of the risks associated with the industry, including property damage, liability, theft, and data breaches.

Many business owners temporarily ceased operations or shut down completely due to COVID. Those lucky enough to remain open had to shift the way they do business. But with regulations becoming more relaxed, it may be a good time to start thinking about following your dream of being a bar owner.

Another consideration is the location. You'll notice that a lot of the establishments are in established neighborhoods. Pubs and taverns that offer food are usually in places that have a community, neighbor-y feel—think Cheers. Bars, or those that generally only offer drinks, and nightclubs tend to be in very hip and happening areas. Avoid areas that are hard to access. and make sure you have ample parking for your customers.

Now that you've got the two main basics down, here are a few other