Hey all, just a hello and an update

[JackMaverik]

So last year when I was trying to buy the bar that I worked at, a bagillion people told me "Oh you wanna buy a bar? Don't do it!" Kind of tongue in cheek - but also kind of serious.

I laughed them off and kept on keeping on. I absolutely 100 percent completely understand what they were saying now. The problem is - there is absolutely no way of understanding how much buying and running a bar/nightclub will take over your life until you actually buy a bar/nightclub and run it. There was no way I could have ever been talked out of it last year, and now - it's the same thing. I love it - don't get me wrong, but I look back at my "former life" and wonder what I did with all my time off.

Things are going as well as can be expected for a person buying a bar with zero startup capital. I'm in my fifth month and still open (though barely it seems sometime) and just starting to see a light at the end of the tunnel.

I'm sorry I haven't been posting a lot. This thing has been consuming my life. 18 hours a day everyday. From phone calls to emails to vendors to distributors to everything else - ugh!

My kingdom for an advertising budget. I've maxed out my web presence and am seriously trying to scrape together the cash to start a print campaign.

So - here's the areas I can safely say - I have screwed up so far.

I underestimated startup costs by around 10,000 dollars.
(Electricity deposit, Lease Sec. deposit, Various city licensing fees, Health and fire code compliances).
I overestimated my personal relationships with certain large drawing local bands (We're a live music venue primarily)
I lost a months time in booking events at my bar
I partnered with inexperienced or underqualified booking agents to handle my Wednesday and Thursday nights.

Those are the big boys. There's no use sugar coating the stuff. It's the areas I screwed up in and offer it as a cautionary tale to the next person. Trust me - if you think you know what you're doing (and you've never actually done this before) you don't know what you're thinking.

Here's what I learned - I had done just about every job you can possibly do in a bar/venue and DONE just about every job in THIS PARTICULAR bar I was buying. This is the best analogy I can come up with - I've had pepperoni, I've had cheese, I've had dough and I had had sauce before - But I had never made a pizza.

Good luck to everyone! Keep your head down and work your ass off. It's all you're allowed to do by law.

Wish me luck!

[David]

Great post. I hope that the others on the site that want to open a bar and think that it's easy will pay close attention to your experence.

[JackMaverik]

Thanks for the kind words and continued support David. You're awesome. There's just no way of telling someone of their own impending trainwreck. It can't be done. haha

[ManageYourBar]

Great post Jack. Thanks for your honesty. I think this post should be made sticky so that all those entering the forum looking for a quick fix to open a bar get a dose of reality.

Barry

[Havensloft]

I couldn't have said it better Jack. Nice hearing from you again. I am coming up on a year next month and I am glad it was a small bar that I bought. It still is very time consuming even though it is small. Listening to others in this industry, guests and others has helped me to keep my head above water. Having enough money aside to get through the tough times is a must and I am glad I had enough. Of course I didn't need to have as much as larger venues need which was good.

[originolsin]

Boy...I haven't been here in what seems like forever, probably since right after the bar show. I have been so busy. We have had our bar for a little over a year and a half, and I have to agree that you just don't have much time to do anything else.

I have to add...some of the most annoying things are people asking how much it cost you to buy the place, people assuming you are rolling in the dough, people thinking you don't do anything because you mingle at night. Nevermind I am there 18 hours a day 6.5 days a week, the liquor doesn't magically show up, the lights don't magically stay on, the insurance is through the roof, employees think the place just magically fills up with people and people try to sue you for stupid things(BTW thank you for warning me Chris and David about keeping good records on employees behavior, that is surely going to save us!)

It definately is harder than it looks, I will never say to anyone "You can't do it". Be prepared for a battle. Watch every dollar, watch every beer, watch everything, and be prepared for serious work!

Would I trade it? No, probably not. However, I am sure that I am taking years off of the back end of my life!

[ministry]

jack, you will be fine because you know when and where you messed up. people who dont have a clue but think they do are their own worst enemy. we have all made those same mistakes you have ( atleast i have ) but i never make the same one twice (except that one girl from.......) good luck and let me know if i can help out any. mike

[The Comedy Zone]

Great Post!!!

Thanks for the honesty....most would say "Everything is great"

Wishing you tons of success!

[owneroper]

yes but do you still love it? And I agree about the difference between being an employee and an owner. Your right you would not have been able to convince me of the differences

[mapleleaf]

Great post! I am happy and nervous reading it now since I am thinking of buying the bar I currently manage.......

[Mezzanine]

Here's what I learned - I had done just about every job you can possibly do in a bar/venue and DONE just about every job in THIS PARTICULAR bar I was buying. This is the best analogy I can come up with - I've had pepperoni, I've had cheese, I've had dough and I had had sauce before - But I had never made a pizza.

Good luck to everyone! Keep your head down and work your ass off. It's all you're allowed to do by law.

Wish me luck!

Good luck, Jack. I love the pizza analogy. I try to explain to people that ask me for advice and no, they don't get it. I didn't get it. I had a guy who is an asst manager at a restaurant who is planning to open a sports bar recently tell me, "I already do everything you do.." and he truly believes it.

[JackMaverik]

So. We're closing and going out of business. That was a fun summer.

Add me to the list of people who failed.

Seriously though - I learned one important valuable lesson. The most important thing in this business is Startup Capital. Its more important than location or knowledge or anything.

Startup capital. That's what did me in.

[Ruben]

Well you worked hard! Hopegully you didn't lose a lot :(

[Havensloft]

So. We're closing and going out of business. That was a fun summer.

Add me to the list of people who failed.

Seriously though - I learned one important valuable lesson. The most important thing in this business is Startup Capital. Its more important than location or knowledge or anything.

Startup capital. That's what did me in.

Sorry to hear about that. What are you planning to do now?

[JackMaverik]

Sleep. Sleep. Sleep.

Then go work.

Then sleep some more.

Maybe, when i get money - go see a movie, or eat a nice meal.

But I think I'll sleep.

[atir-n-kram]

Hello everyone! I just joined today. My husband and I are going to purchase a building that has a bar in it. The bar has been closed for a long time. We are planning to reopen the bar. I will admit, I am clueless. I have been trying to come up with some projections for the banker and I am pulling my hair out trying to figure this out. I don't even know where to begin.

I have read many posts. This blog is awesome!

[seandell]

Sorry to here that. Your right about the start-up capitol. My new place has been open for about 5 months now and we squeak by every month, I work every day / night. About 70 hours a week. What $$ we do make each month goes right back into advertising and upgrades, As well as some on the side, for the winter months when biz slows.

Hopefully you have helped others on the board so they know what to expect. Good luck in whatever you do next.

[allanjustallan]

Sorry, Jack,

N your right capital is very important to keep going during the learning process. Hopefully you will do better in your next venture,

All the very best,

Allan.