Las Vegas... Tough Market for Pubs?

[RoC_77]

I've been reading this forum for a couple weeks, and I think I'm ready to post here and get some insight from anyone willing.

I live in San Diego, I'm part of the dying breed of natives here.

I've worked in the Hotel and Restaurant business for about 5 years... Serving breakfast, lunch, dinner, banquets, room service, bartending... But for the last 10 years I've been in the advertising business working for a "business-to-businesss" agency.

I've been talking about wanting to own a bar for quite some time now, and I think I'm pretty well at a position in life to take the risk. However, San Diego, and pretty much all of California, doesn't seem to be very "small business friendly," so I've even considered relocating to open a bar.

To the point...

I have really been taking a long look at Las Vegas considering the explosive growth that city continues to see, and not seeing an end in sight for its continued growth. I realize that there is a great amount of competition in Vegas for the entertainment dollar. I know I would have to really be out there marketing a new place, have a great theme, run creative promotions, etc. But from what I have seen so far, Vegas still seems to be relatively affordable as far as leasing space or even buying property is concerned. I would also want to have gaming in the bar... slot machines, video poker (of course), and possibly poker tournaments and/or a nice mellow place to play poker perhaps in a separate room.

The real idea I was hoping for would be to open a place that catered to Vegas locals that work on the strip, in the shows, at the clubs, hotels and such... Target those locals and promote my bar as a place they could come to get away from all the chaos of the strip and be able to relax in a fun atmosphere off the strip, possibly do a little gambling too. A place where the entertainers could be entertained for a change.

So my question is... Does anyone think this is a horrible idea? Will I get eaten alive in the Vegas pub market? Or does this sound like it could be a decent money maker?

I'm not looking to get rich... I'm just ready for a change of career... I've talked about opening a pub for years now, and I really can't imagine any other business that I think I would really enjoy running. I really believe that with the right opportunity I could run a successful pub... I just want it to make me a pretty good living and allow me to save money for retirement, while enjoying what I do as compensation besides the dollars.

Just a little background on me...I've never run my own business (besides a small freelance advertising business)... I've ALWAYS been very good with my own finances. I own a home in San Diego. I'm not married (yet). Don't have any kids (yet).

Anyway, if anyone has any insight for me, it would be very appreciated.
I plan on doing a LOT of homework before even attempting this, whether it be in Las Vegas or anywhere else... I know I have a ton to learn and that this business isn't all fun and games. I'm just a very practical and realistic person looking to realize a dream. I've strongly considered moving to Vegas and getting a job as a bartender for a couple years just to get me back into the business and learn more about the business in general.

Any insight is welcomed... THANKS!

Roc

[David]

I feel that any market that is viewed as saturated, really isn't. There is a place for smaller, local type clubs. Your typical neighborhood bars. Not too big but large enough to hold a decent crowd.

In my travels over the past couple of years, I have seen a trend towards a smaller more personal clubs. 100 to 150 max capacity.

[RoC_77]

thanks for the reply...

That's pretty much what I had been reading as well... that the market there is pretty saturated... 100 million drinks sold per year in Las Vegas... wow!

I think you have a good point though... I think there really is still room for a smaller pub that caters to the local crowd... I was just in Vegas last weekend looking around at housing and undeveloped commercial property... there is a TON of space still... everything out there in the "suburbs" is brand new and still growing at an amazing rate... I'm going to seriously consider this avenue, but I think I'm going to take some of the advice I've seen here and at other sources and work in the industry for a year or two again.


Seems that everything is Vegas needs to have a pretty unique theme, and most places seem to serve food (which is something I really don't want to get into... serving food seems like more of a hassle than it's worth)... Anyone have any suggests regarding themes for a local pub?

Again, any advice or comments are appreciated.