how to write a business plan for a cocktail bar

How to Write a Winning Cocktail Bar Business Plan (+ Template)

Creating a business plan is essential for any business, but it can be beneficial for cocktail bar s who want to improve their strategy or raise funding.

A well-crafted business plan not only outlines the vision for your company but also documents a step-by-step roadmap of how you will accomplish it. To create an effective business plan, you must first understand the components essential to its success.

This article provides an overview of the critical elements that every cocktail bar business owner should include in their business plan.

Download the Ultimate Bar Business Plan Template

What is a cocktail bar business plan.

A cocktail bar business plan is a formal written document describing your company’s business strategy and feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Cocktail Bar Business Plan?

A cocktail bar business plan is required for banks and investors. The document is a clear and concise guide to your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Cocktail Bar Business Plan

The following are the critical components of a successful cocktail bar business plan:

Executive Summary

The executive summary of a cocktail bar business plan is a one- to two-page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your cocktail bar  
• Provide a summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast, among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company began and provide a timeline of milestones your company has achieved.

You may not have a long company history if you are just starting your cocktail bar. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your cocktail bar company, mention this.

You will also include information about your chosen cocktail bar business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a cocktail bar business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the cocktail bar industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support your company’s success)?

You should also include sources for your information, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a cocktail bar business’ customers may include:

• People who live or work near the bar
• People who frequent the area where the bar is located
• People who are looking for a specific type of bar (e.g., a sports bar, dive bar, etc.)
• Business professionals

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or cocktail bar services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your cocktail offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your cocktails and any food items, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, or launch a direct mail campaign. Or you may promote your bar business via word-of-mouth marketing or by hosting events.

Operations Plan

This part of your cocktail bar business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a cocktail bar include reaching $X in sales. Other examples include increasing the number of regular customers by a certain amount or adding new menu items.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific cocktail bar industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Cocktail Bar

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Cocktail Bar

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup cocktail bar .

Sample Cash Flow Statement for a Startup Cocktail Bar  

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your cocktail bar . It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A well-written cocktail bar business plan is a must for any new business owner. It’s a great tool for attracting investors and keeping the company focused.  

Finish Your Cocktail Bar Business Plan in 1 Day!

How To Write a Business Plan for Cocktail Bar in 9 Steps: Checklist

By henry sheykin, resources on cocktail bar.

• Financial Model
• Business Plan
• Value Proposition
• One-Page Business Plan
• SWOT Analysis
• Business Model
• Marketing Plan

Are you dreaming of opening your own cocktail bar? With the increasing popularity of craft cocktails and unique drinking experiences, now is the perfect time to enter the industry. In fact, according to recent statistics, the cocktail bar market in the US is projected to grow at a CAGR of 7.5% from 2020 to 2025, reaching a value of $2.84 billion . To help you turn your dream into a successful reality, we have compiled a comprehensive checklist of nine essential steps to writing a business plan for your cocktail bar. Let's dive in!

First things first, it's crucial to research the target market and stay up-to-date with the latest industry trends . Understanding the evolving tastes and preferences of your potential customers will give you a competitive edge and help you develop new and exciting cocktail creations.

Identifying your target audience and their preferences is essential for crafting a beverage menu that appeals to their tastes. Whether it's millennials looking for Instagrammable cocktails or professionals seeking a sophisticated after-work spot, knowing your audience will guide the direction of your bar.

Next, conduct a competitive analysis to learn from existing cocktail bars in your area. Study their offerings, pricing strategies, and customer experiences. This will help you identify gaps in the market and position your bar uniquely.

The location of your cocktail bar plays a significant role in its success. Look for areas with a high amount of foot traffic, proximity to other nightlife spots, and a target market that aligns with your concept. Consider the ideal physical space that reflects your bar's ambiance and caters to the number of guests you anticipate.

Establishing a clear concept and theme for your cocktail bar will attract customers who resonate with your vibe. Stand out by creating a space that showcases your unique style, whether it's a speakeasy, tiki bar, or modern mixology haven.

Your financial plan is a vital aspect of starting any business, and a cocktail bar is no exception. Create a detailed financial plan , including startup costs for equipment, inventory, permits, licenses, and renovations. Consider projected revenue streams such as drink sales, event hosting, and partnerships.

Developing a marketing and branding strategy is essential for attracting customers to your cocktail bar. Utilize social media platforms to build a strong reputation and following. Collaborate with influencers, host themed parties, and create a visually appealing online presence.

Once your concept is solidified, it's crucial to obtain the necessary permits and licenses required to operate legally. Research local regulations and ensure you comply with all health and safety standards.

Last but not least, assemble a team that shares your passion for mixology and customer service. Define key roles and responsibilities to ensure smooth operations and exceptional experiences for your guests.

By following these nine essential steps, you'll be well on your way to opening a successful cocktail bar. Stay tuned for more in-depth guides on each step to help you turn your business plan into a reality. Cheers to your future success!

Research The Target Market And Industry Trends

Before starting a cocktail bar, it is essential to thoroughly research the target market and understand the latest industry trends. By doing so, you can identify the potential demand for your offerings and make informed decisions to attract your target audience. Here are some important steps to follow during this research phase:

• Identify the demographic factors: Research the age groups, income levels, and lifestyle preferences of the target market. This information will help you tailor your cocktail menu, ambiance, and marketing efforts accordingly.
• Study the preferences and behaviors of cocktail drinkers: Understand the current trends in cocktail consumption, such as popular spirits, flavors, and presentation styles. This knowledge will enable you to curate an enticing cocktail menu that satisfies customer preferences.
• Analyze the competition: Study existing cocktail bars in your area to identify what sets them apart and attracts customers. This analysis will help you differentiate your business and identify potential niches in the market.
• Stay updated with industry trends: Keep track of emerging trends, innovations, and customer preferences in the cocktail bar industry. This will allow you to adapt your offerings and stay ahead of the competition.
• Attend industry conferences and seminars to network with experts and gain insights into the latest market trends.
• Use online resources such as industry publications, blogs, and social media platforms to stay updated with current industry news and trends.
• Consider conducting surveys or focus groups with your target audience to gain firsthand knowledge about their preferences and expectations from a cocktail bar.

Thorough research of the target market and industry trends will lay the foundation for a successful business plan for your cocktail bar. By understanding your potential customers and keeping up with market dynamics, you can effectively position your bar and create a unique experience that attracts a loyal customer base.

Identify The Target Audience And Customer Preferences

Identifying the target audience and understanding their preferences is a crucial step in developing a successful business plan for a cocktail bar. By knowing who your potential customers are and what they are looking for, you can tailor your offerings and marketing strategies to meet their needs and stand out in the competitive market.

When identifying the target audience, consider factors such as age, gender, income level, and lifestyle. Determine whether your cocktail bar will cater to a specific demographic or if it will have a broader appeal. For example, you may target young professionals looking for a trendy and upscale atmosphere, or you may want to attract a diverse range of customers with varying tastes and preferences.

Market research is essential in understanding customer preferences. Conduct surveys, interviews, or focus groups to gather valuable insights. Ask questions about their favorite types of cocktails, preferred atmosphere, music choices, and price range. This research will help you determine the most popular cocktails and create a menu that appeals to your target audience.

• Utilize social media platforms and online forums to engage with potential customers and gather feedback on their preferences.
• Visit existing cocktail bars in your area to observe the type of customers they attract and the ambiance they offer.
• Consider collaborating with local influencers or conducting collaborations to gain visibility and learn more about your target audience.

Once you have identified your target audience and gained insights into their preferences, you can use this information to design not only an appealing menu but also create a unique and attractive ambiance in your cocktail bar. Understanding your customers will also help you tailor your marketing campaigns, promotions, and events to effectively reach and engage with them.

Conduct A Competitive Analysis

Conducting a competitive analysis is a crucial step in developing a successful business plan for your cocktail bar. It allows you to gain valuable insights into your competitors' strengths, weaknesses, and strategies, helping you identify opportunities and develop a unique value proposition.

• Identify your direct competitors: Research and identify other cocktail bars in your target market. Visit their establishments, analyze their menus, pricing strategies, ambiance, and customer experience. Pay attention to the quality of their cocktails, their customer service, and any unique offerings they provide.
• Assess your competitors' positioning: Determine how your competitors position themselves within the market. Are they targeting a specific niche audience or catering to a broader demographic? Understand their key selling points and the reasons why customers choose them over others.
• Analyze pricing and profitability: Compare your competitors' pricing strategies. Evaluate the affordability of their cocktails and the perceived value they offer. Assess their profitability by understanding their cost structures, profit margins, and potential revenue streams.
• Examine marketing and branding efforts: Study your competitors' marketing tactics, both online and offline. Analyze their social media presence, website content, advertising campaigns, and customer engagement strategies. Look for ways to differentiate your cocktail bar's brand and develop a unique marketing approach.
• Identify untapped opportunities: Look for gaps in the market that your competitors haven't capitalized on. It could be an underserved demographic or an unexplored cocktail trend. By identifying these opportunities, you can position your cocktail bar as a pioneer in those areas.

Tips for conducting a competitive analysis:

• Stay objective and gather data-driven insights to avoid biased judgments.
• Utilize online tools and platforms to gather information about your competitors.
• Engage in conversations with industry experts, suppliers, and customers to gain additional insights.
• Regularly update your competitive analysis to stay informed about changes in the market.
• Focus on differentiating your cocktail bar from your competitors by offering a unique experience or an exclusive selection of cocktails.

Determine The Location And Ideal Physical Space For The Cocktail Bar

Choosing the right location for your cocktail bar is crucial for its success. The location should be strategically chosen to attract the target audience and ensure convenient access for customers. Here are some important factors to consider:

• Demographics: Research the demographics of the area to determine if it aligns with your target audience. Consider factors such as income levels, age groups, and lifestyle preferences.
• Foot Traffic: Look for a location with high foot traffic, such as busy streets, shopping centers, or areas with popular attractions. This will increase the visibility of your bar and attract passersby.
• Competition: Assess the presence of existing cocktail bars or similar establishments in the vicinity. While some competition can indicate a healthy market, too much competition may make it challenging to stand out. Consider areas with a balance of demand and limited competition.
• Space Requirements: Determine the ideal physical space needed for your cocktail bar. Consider factors such as seating capacity, bar area, kitchen space, storage, and restroom facilities. Ensure the space allows for smooth operations and a comfortable experience for customers.
• Accessibility: Choose a location that is easily accessible by public transportation and has sufficient parking options. Customers should be able to reach your bar conveniently.
• Consider conducting a survey or focus group to gather feedback from your target audience regarding location preferences.
• Visit potential locations during different times of the day to assess foot traffic and observe the surrounding businesses.
• Engage the services of a real estate agent who specializes in commercial properties to help you find the perfect location.

By carefully evaluating these factors and choosing a location that aligns with your target audience and business goals, you can set a strong foundation for your cocktail bar's success.

Establish A Clear Concept And Theme For The Bar

One of the key aspects of running a successful cocktail bar is establishing a clear concept and theme that sets it apart from competitors. This concept will guide the overall ambiance, décor, and menu offerings of the bar. In order to establish a clear concept and theme, consider the following:

• Define your target audience: Understanding the preferences and tastes of your target audience is essential in determining the concept and theme for your cocktail bar. Consider factors such as age group, interests, and lifestyle choices.
• Research current industry trends: Stay up-to-date with the latest industry trends in cocktail bars to identify what is popular and appealing to customers. This will help you determine whether to focus on classic cocktails, experimental mixology, or a fusion of different styles.
• Create a unique concept: Differentiate your cocktail bar by developing a unique and memorable concept that resonates with your target audience. This could be based on a specific era, geographical location, or even a specific ingredient.
• Choose a cohesive theme: Once you have determined the concept, ensure that it translates into a cohesive theme throughout the bar. This includes the décor, music, menu, and even the attire of the staff.
• Consider the overall experience: Think about the overall experience you want to create for your customers. This includes everything from the moment they enter the bar to the moment they leave. A well-defined concept and theme will contribute to a unique and memorable experience for your patrons.
• Take inspiration from successful cocktail bars around the world, but be sure to add your own unique touch.
• Consider conducting focus groups or surveys to gather feedback from potential customers on different concept ideas.
• Collaborate with interior designers and mixologists to bring your concept and theme to life.

Create A Detailed Financial Plan, Including Startup Costs And Expected Revenue

One of the most crucial steps in opening a cocktail bar is creating a detailed financial plan. This plan will outline all the necessary expenses and revenue projections to ensure the financial viability of your business.

Analyze Startup Costs: Start by identifying all the costs involved in starting your cocktail bar. This includes expenses such as lease or purchase of the physical space, renovation or remodeling costs, furniture and equipment, licenses and permits, initial inventory, marketing expenses, and staff salaries during the initial months of operation.

Estimate Revenue Streams: To create an accurate financial plan, it's essential to estimate your expected revenue. Consider factors like the number of customers you can accommodate, the average spending per customer, and any additional revenue streams such as events or partnerships. Use market research and industry benchmarks to make realistic revenue projections.

Calculate Operating Expenses: Determine the monthly operating expenses for your cocktail bar, including rent, utilities, inventory restocking, marketing costs, staff wages, and other overhead expenses. Be sure to consider any seasonal variations and potential fluctuations in revenue.

Identify Funding Sources: Once you have a clear understanding of your startup costs and revenue projections, you can explore different funding sources. These may include personal savings, loans, investors, or crowdfunding. Consider the pros and cons of each option and create a financial plan that aligns with your chosen funding strategy.

• Be conservative in your revenue projections to account for potential challenges or market fluctuations.
• Consider seeking advice from a financial expert or accountant to ensure the accuracy of your financial plan.
• Regularly review and update your financial plan as your business progresses to reflect any changes in expenses or revenue.

By creating a detailed financial plan, you will have a clear understanding of the financial aspects of your cocktail bar. This will not only help you secure funding but also make sound business decisions based on realistic financial expectations.

Develop A Marketing And Branding Strategy

Developing a strong marketing and branding strategy is crucial for the success of your cocktail bar. It will help you create a unique identity for your business and attract your target audience. Here are some important steps to consider:

• Define your target audience: Understand who your ideal customers are and what they are looking for in a cocktail bar. This will help you tailor your marketing efforts to their preferences and needs.
• Create a memorable brand: Craft a compelling brand identity that reflects the atmosphere and concept of your bar. This includes designing a logo, choosing a color palette, and creating a consistent visual language for all your marketing materials.
• Use social media: Utilize platforms like Facebook, Instagram, and Twitter to connect with your audience and build a strong online presence. Share enticing photos of your cocktails, behind-the-scenes glimpses, and upcoming events to keep your followers engaged.
• Offer incentives: To attract new customers and keep them coming back, consider offering special promotions, discounts, or loyalty programs. This can help create a sense of excitement and encourage word-of-mouth referrals.
• Partner with local businesses: Collaborate with nearby restaurants, food trucks, or local events to cross-promote each other. This can expand your reach and provide additional exposure for your cocktail bar.
• Host events: Organize themed parties, live music nights, or mixology classes to create a buzz around your bar. Promote these events through social media, local advertising, and email newsletters to attract both new and regular customers.
• Regularly update your social media accounts with fresh content to keep your followers engaged.
• Consider collaborating with influencers or local bloggers to reach a wider audience.
• Collect customer feedback through surveys or online reviews to continuously improve your offerings and customer experience.

Obtain Necessary Permits And Licenses

Obtaining the necessary permits and licenses is a crucial step in starting a cocktail bar. It ensures that your business complies with all the legal requirements and regulations set by the local and state authorities. Here are some important permits and licenses you need to consider:

• Liquor License: Most cocktail bars require a liquor license to legally serve alcoholic beverages. The specific type of license you need may vary depending on your location, so it is important to research and understand the requirements of your state and local liquor control board.
• Business License: You will need to obtain a general business license to operate your cocktail bar. This license is usually obtained from the city or county government and ensures that your business is in compliance with local regulations.
• Health Department Permit: To ensure the safety and hygiene of your establishment, you will need to obtain a health department permit. This permit is typically issued after an inspection of your premises to ensure that you meet all the health and safety standards.
• Zoning and Land Use Permits: It is important to check the zoning regulations in your area to ensure that your cocktail bar is allowed to operate in the chosen location. You may need to obtain zoning permits or variances if your bar does not meet the specific requirements set by the local authorities.
• Music and Entertainment Licenses: If you plan on hosting live music nights or other forms of entertainment at your cocktail bar, you may need to obtain additional licenses. These can include performance licenses, copyright clearances, and even special permits for outdoor events or amplified sound.
• Start the permit and license application process early, as it may take time to gather the required documents and approvals.
• Research and consult with local authorities to understand the specific requirements and procedures for obtaining permits and licenses in your area.
• Keep track of all the required fees and deadlines to ensure a smooth application process.
• If you are unsure about any aspect of the permit and license requirements, consider seeking legal or professional advice to avoid any compliance issues.

Once you have obtained all the necessary permits and licenses, you can proceed with confidence knowing that your cocktail bar is operating within the legal framework. It is important to ensure that all permits and licenses are kept up to date and in compliance with any regulatory changes in the future.

Assemble A Team And Define Key Roles And Responsibilities

Building a strong team of skilled and passionate individuals is crucial for the success of your cocktail bar. Each team member should have defined roles and responsibilities that align with the overall vision and goals of the business. Here are some important steps to consider when assembling your team:

• Identify the key positions: Determine the specific roles that are essential for running a successful cocktail bar. This may include a bar manager, mixologists, bartenders, servers, kitchen staff, and marketing personnel.
• Hire experienced professionals: Seek individuals who have relevant experience in the hospitality industry, particularly in cocktail bars or similar establishments. Look for candidates who demonstrate knowledge of cocktails, bartending techniques, and customer service.
• Define responsibilities: Clearly outline the responsibilities and expectations for each role within the team. This includes tasks such as creating and serving cocktails, managing inventory and supplies, overseeing operations, and providing exceptional customer service.
• Promote a positive culture: Foster a supportive and collaborative work environment that encourages creativity, teamwork, and continuous improvement. This will help to create a cohesive team that is dedicated to delivering an exceptional guest experience.
• Train and develop your team: Provide comprehensive training programs for all team members to ensure they have the necessary skills and knowledge to excel in their respective roles. Offer ongoing professional development opportunities to further enhance their expertise.
• Delegate effectively: Delegate responsibilities and decision-making authority to the appropriate team members. Empower your employees to take ownership of their roles and make informed decisions that contribute to the success of the cocktail bar.
• Establish effective communication channels: Implement a clear communication system within the team to promote transparency and efficiency. Regularly schedule team meetings, provide feedback, and encourage open dialogue to foster a sense of camaraderie and unity.
• Encourage creativity and innovation: Foster an environment that encourages team members to express their creativity and contribute new ideas. This can result in innovative cocktails, unique promotions, and memorable experiences for customers.

Tips for Assembling Your Team:

• Focus on hiring individuals who are passionate about cocktails, customer service, and creating memorable experiences.
• Consider conducting thorough interviews and skill assessments to ensure the candidates possess the necessary skills and qualities for their respective roles.
• Seek team players who are adaptable, problem solvers, and can thrive in a fast-paced environment.
• Provide opportunities for team bonding activities to foster strong relationships and enhance teamwork.
• Regularly evaluate and recognize the performance of your team members to motivate and maintain a high level of engagement.

In conclusion, writing a business plan for a cocktail bar involves thorough research, clear strategic planning, and effective execution. By understanding the target market, identifying customer preferences, and conducting a competitive analysis, bar owners can create a unique concept and establish a strong brand presence. Additionally, developing a comprehensive financial plan, implementing a strategic marketing strategy, and obtaining the necessary permits and licenses are essential steps to ensure the success of the cocktail bar. Lastly, assembling a skilled team and defining key roles and responsibilities will contribute to the smooth operation and growth of the business.

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Step By Step Guide To Write A Bar Business Plan

Opening a new bar requires grit and determination - as well as a fantastic bar business plan to act as your roadmap. This document can determine the future success of your new venture, so it’s essential to make it as comprehensive as possible.

But for first-time bar owners, figuring out where to start can be challenging. Our step-by-step guide to writing a business plan will help you pinpoint the finer details to consider when building a thriving bar business.

How to Write a Bar Business Plan in 9 Steps

1. bar overview.

The first step in writing a bar business plan is to establish an overview of the type of bar you want to open. You need a concept and location to shape your business model and create an executive summary for your new venture:

One of the defining aspects of your establishment is its concept and theme, which you’ll need to describe clearly in your business plan. Whether it’s a simple sports bar, speakeasy, or high-end nightclub, have a fully developed idea of what your venue will be and what purpose it will serve.

You also need to consider how to meet market needs. If you’re following trending concepts, you’ll know that roof-top bars and lounges are popular now. Or, perhaps you want your venue to be an activity-based bar that offers an art gallery, board games, or mini-golf?  

Part of your business plan also includes setting your mission statement and goals. These should outline your vision and will influence who invests in your bar. Your mission statement should be a comprehensive statement that details what sets you apart from other bars and should include your company’s values.

It’s important to link your statement to your business concept. You should consider how your values and goals are influenced by what makes your bar unique - including your overall purpose.

Next, you need to propose a location for your bar. Venues close to stores, shopping, centers, and tourist attractions, typically get good visibility and attract a lot of foot traffic. Because of the number of people moving through these areas daily, they also usually offer a decent level of security for your customers.

Another consideration for location is to avoid suburban areas where neighbors might lodge noise complaints. Should this happen, it can mean regulations stipulate earlier closing times for your venue so as not to disturb the peace.  

Finally, look for a space where there’s low competition, and your business can shine. There are plenty of strips crowded with bars and nightclubs. While these might attract a decent amount of foot traffic, you’ll need to work much harder to draw people into your place if one establishment has already made a name for itself.

For this reason, aim to secure a spot with little competition. It could mean having a unique concept bar that overshadows the competition. Or it could mean selecting a space where your type of bar doesn’t yet exist.

Ease of Accessibility

Potential customers need to be able to access your bar easily, or they will go elsewhere. They might drive, take public transport, or use a ridesharing company to travel to your venue. It’s up to you to ensure there are ways and means to get them conveniently to the front door.

Here, you should be looking for a venue where you can offer parking to your patrons. It should also be accessible to ride-hailing services and close to public transport.

2. Customer Overview

No bar establishment would be successful without its customers. As part of your bar business plan, include a profile of the type of customer you hope to attract. Consider who your target market is and how it aligns with your bar concept.

You should also outline your demographic's age, income, and interests. You’ll need this information later when developing marketing strategies for your business.  

3. Management Overview

The next step in your bar business plan is building a team structure. Your crafty bar concept requires talented people to execute it properly.

Your bartenders are the face of your establishment. Essentially, they can make or break your customer’s impression of your venue. When going through the hiring process, you’ll need to consider each individual’s personality, qualifications, experience, and skills.

Ideally, you want at least one experienced bartender who knows the ropes and can help set up operations, deal with bar management, and train the team. They will also be able to help streamline any teething issues that come up as a result of starting a new business.

From the get-go, outline your bartending teams’ possible responsibilities and the duties they’ll need to undertake. This can help set expectations ahead of advertising jobs and interviewing potential candidates.

Bar-backs don’t need as much experience as bartenders or servers as they aren’t in the customer eye as much. But they must be willing and eager to learn. They are essential to keeping everything running smoothly and work closely with the bartender as an assistant.

For this reason, they need a solid foundational knowledge of the industry, ingredients, and barware in general.

Depending on your business concept and operational model, you may or may not need to employ servers. Some high-end venues have servers to reduce the crowd around the bar and deliver drinks to the table. Additionally, you’ll need to hire servers if you offer any food.

When building out your staffing plan, you’ll need to determine where your establishment lands with that requirement. Make a note here to look for bar industry candidates with alcohol training who know how to serve alcohol safely and legally.

4. Drinks Menu Plan

Your drinks menu is your bar’s product. To be successful, it’s essential to get this offering right.

While your beverage list will undoubtedly change over time, don’t neglect to include a sample menu in your business plan. This will give potential investors an idea of what’s in store and possibly help you secure funding.

Descriptions

Your drinks menu is the selling point of your bar business and the star of the show. If you can excite and entice patrons with promises of wonderful flavors, you’ll be onto a gold mine.

So, it’s important to include product descriptions in your menu, particularly for signature drinks. Each listing should detail the ingredients of individual drinks, any garnishes they may come with, and add-ons your customers can choose from.

Beverage Names

A successful bar is only as strong as its product. So, aligning your drinks with your bar’s brand and concept is important. Get together with a mixologist to create one or several signature drinks that will be uniquely your own. Give these drinks names that play to the overall theme of your business.

Product Sourcing

Many establishments lean on particular products as their claim to fame. For example, you might want to be known as a French wine bistro, local brewery, or craft cocktail spot. Decide what you wish your unique story to be and reflect this in your plan for product sourcing.

Of course, sourcing locally is the most sustainable way to go. You can also build relationships with vendors in your community, which can help bring people into your venue.  

Industry Trends

It’s essential to do your research and stay abreast of industry trends. Note what these are in your business plan, as this will help keep customers walking through your doors.

For example, one of the most popular cocktail trends in the bar scene is smoke-infused or smoked cocktails. Some mixologists may also use smoke bubbles to infuse the cocktail with a smoky aroma. This trend has gained fame in the last few years and adds a new twist to the cocktail-drinking experience.

Small Food Menu (Small Bites)

Food and beverages go hand in hand. If you plan a small menu with, say, tapas or easy eats, you can increase your revenue. It will prevent your guests from leaving to find something to eat.

Suppose you don’t want the hassle of food storage and preparation. In that case, consider formulating a partnership with a local eatery or small food business that can deliver a menu of select freshly-made items to your establishment.

5. Licenses

It’s key to plan out your business licenses carefully. If you don’t have the right ones in place, you won’t be able to operate.

Tavern License

When putting together your bar business plan, it’s important to research whether you need a tavern license. It’s a government-issued license for restaurants, bars, or businesses with more than 50% liquor sales.  

Beer and Wine License

If you’re planning on starting a beerhouse or wine lounge, you may only need to apply for a beer and wine license. This will restrict your sales to wine and malt beverages, as you won’t be able to sell hard liquors like spirits. Whether you need to apply for this license depends on your bar's concept.

Health/Food Service License

With a small food menu, you’ll likely need to note on your restaurant and bar business plan to apply for a food service license. It’s a requirement to serve any type of food within your establishment. To obtain a food service license, you’ll need to ensure that your bar follows strict rules and regulations laid out by the U.S. Food and Drug Administration .

Music License

Music is one of the key elements of creating ambiance in a venue. But did you know that streaming music from your digital subscription with Spotify or Deezer is not actually operating within the law? This is true even if you’re playing music through a TV or radio.

The right way to go about this is to pay a Performance Rights Organization (PRO) or music service that will send royalties to the relevant artists. For the most part, this doesn’t apply to bands or performers who play live at your venue.

6. Market Research

Performing market research as part of your bar business plan is key to understanding your opportunities and how to capitalize on them.  

Industry Research

Part of your research should be to determine the market size you can potentially snag. Look at other bars already operating in the area, consider the industry as a whole, and determine what trends are driving it forward.  

Target Market

What needs will your bar solve for your target market? You can find out who they are and what they want by considering the local neighborhood and bar type.

It’s also an idea to look at census data to see how many potential customers within a certain demographic live within a reachable radius of your proposed location.

Market Share and Price Point

When doing your market analysis, consider similar bar businesses that have come before you. What do their successes and failures look like? Why did they crash and burn, or soar to new heights? Take these lessons and figure out how to apply them so your business can succeed.

Furthermore, what will your entry into the market mean for the local community? Are you creating new job opportunities? Or are you going to bring in an unruly crowd of patrons they hope to avoid? Knowing this information will help you be accepted and create connections rather than catastrophes.

Lastly, consider what your ‘competitors’ or other similar industry businesses are charging for their drinks and services. Run a competitive analysis in the area to determine your potential price point and how you can stand out.

7. Bar Marketing

Utilizing a marketing plan in the right way helps you take measured steps to get your establishment in front of potential customers. Here are the strategies to get started:

Create a Brand

The key to starting a successful business - and keeping it open - is to create a memorable brand identity. Your toolbox for promoting your brand should include your logo, colors, and ‘personality.’ Use these in a way that becomes synonymous with your bar, no matter where people interact with it.

Marketing Tools

Besides developing your brand identity, consider the channels you can market on to attract customers. At the very least, it should include your social channels, website, and media influencers.

8. Other Avenues to Increase Revenue

Besides being a bar and welcoming guests who come in with reservations or foot traffic, there are other avenues to increase your revenue.

Hosting events such as karaoke nights, wine tastings, or live music is an excellent way to attract larger crowds to your bar. You are guaranteed certain sales, can charge a cover fee, and get new people walking through the door.

If you go this route, we recommend using event management software to keep everything on track and work effortlessly with your team.

It’s no surprise that all businesses go through an ebb and flow of customer traffic. A great way to increase cash flow during slower periods is to introduce ideas like drink specials and happy hour discounts.

When you’re writing up a business plan, don’t forget to brainstorm ideas for a pre-opening promotion as a way to test the market. This can be as simple as a soft launch or as elaborate as a grand-opening celebration.

9. Financials

An important aspect of your business plan is to outline your potential start-up costs. These, along with the costs of day-to-day business operations, and financial projections, will attract or deter potential investors.

Your business plan should also highlight possible funding options like loans and investment opportunities you have available. Additionally, you’ll need to draw up a break-even analysis to determine how much revenue it will take to turn profits.  

Realizing your dream of owning the hottest bar in town starts with a great business plan. It will need to cover everything from your mission statement to your concept and drinks menu. This will help you build a sturdy management team, hire great employees, and attract people to your venue.

Want to know more about Perfect Venue for event management? Try it free to find out how it can be a fit for your new business.

Have thoughts on the article? Feel free to email us at [email protected] - we'd love to hear it!

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How to write a business plan for your cocktail bar establishment.

Starting a cocktail bar establishment is a great idea because it can provide customers with a unique and enjoyable experience, while also providing an opportunity for the business to make a profit.

Additionally, a cocktail bar can be a great place for people to socialize and relax in a comfortable and inviting atmosphere.

But, first thing first, you need a business plan.

Creating a good business plan is essential before starting any new project, like a cocktail bar establishment, as it will help to identify goals, outline strategies, and evaluate potential risks. It will also provide a roadmap for success and ensure that the project is well-organized and properly funded.

In short, a thorough business plan will help ensure the profitability of your cocktail bar establishment .

What should be covered when creating a business plan for a cocktail bar establishment? How do you organize the structure? What are the recommended financial benchmarks to use? How can I make the process of writing a business plan more streamlined?

Luck is on your side! This article provides answers to all these questions, leaving no stone unturned!

One last thing: starting your business plan from scratch is not required.

Instead, you can download our professional business plan for a cocktail bar establishment and tailor it to suit your project.

Formulating a business plan for a cocktail bar establishment

Should you write a business plan for your cocktail bar establishment.

Yes, you should write a business plan for your cocktail bar establishment.

Designing a cohesive business plan will equip you to:

• learn about the cocktail bar market
• understand the industry's cutting-edge developments
• pinpoint what makes a cocktail bar establishment successful
• understand the cocktail preferences, mixology trends, and ambiance expectations of patrons
• find a unique value proposition for your mixology lounge
• analyze competitor target markets
• find competitive advantages for your cocktail bar establishment
• find a business model that maximizes revenue and minimizes costs
• formulate a rock-solid strategy to accelerate business expansion
• identify and manage risks specific to operating a cocktail bar establishment, including liquor licensing, mixology expertise, and customer safety

Our team has drafted a business plan for a cocktail bar establishment that is designed to make it easier for you to achieve all the elements listed.

How to structure a business plan for a cocktail bar establishment?

A thoughtfully designed business plan includes all the necessary content, metrics, and financial information. There should be a clear outline, to make easy to read and digest.

When we built and designed our business plan for a cocktail bar establishment , we took care to arrange it appropriately.

These are the 5 sections (Opportunity, Project, Market Research, Strategy and Finances).

1. Market Opportunity

The opening section is referred to as "Market Opportunity."

Explore this section to access comprehensive data and insights related to the cocktail bar establishment industry, enabling you to understand market trends.

We make it a priority to keep this section constantly updated with fresh data.

2. Project Presentation

The second part is dedicated to the "Project" of your cocktail bar establishment. Here, you can describe the craft cocktails you offer, mixology expertise, creative drink menu, cozy and stylish bar ambiance, happy hour promotions, and the unique value proposition that creates a vibrant and memorable cocktail experience for patrons.

Also include a short description about yourself at the end of this section.

Discuss your passion for mixology, your creative cocktail creations, and how you plan to create a stylish and vibrant cocktail bar experience for guests. Highlight your talented bartenders, your signature cocktails, and your dedication to providing exceptional customer service that delights the senses and creates a lively and memorable atmosphere at your cocktail bar establishment.

In our business plan, you'll see that we've given you pre-prepared content. Adjust it to match your idea exactly.

3. Market Research

The next item on the list is the "Market Research" section.

This section provides a description of the market segments for your cocktail bar establishment.

It includes an analysis of other cocktail bars in the area. Your bar's unique cocktail creations and competitive advantages are also highlighted. A customized SWOT analysis is included.

4. Strategy

In the "Strategy" section, you'll find a comprehensive 3-year development plan, outlining all the necessary initiatives to make your cocktail bar establishment highly profitable.

Moreover, this section includes a comprehensive marketing plan for a cocktail bar establishment, a strategy to handle risks, and a filled-in Business Model Canvas.

5. Finances

Ultimately, the "Finances" section serves as a platform to present the financial aspects of your project.

How to make the Executive Summary for a cocktail bar establishment?

The Executive Summary gives a concise preview of the business plan of your cocktail bar establishment.

Keep it within 2 pages, focusing on the essential details and keeping it short.

This document aims to capture the reader's attention and make them interested in your business plan.

In the Executive Summary of your cocktail bar establishment, address the following queries: what is your cocktail bar establishment about? who is your target audience? are there any other cocktail bars in the area? what sets your bar apart from them? how much funding do you require?

How to do the market analysis for a cocktail bar establishment?

Conducting a market study for your cocktail bar establishment enables you to grasp external factors like customer preferences for crafted cocktails, competition within the bar and restaurant industry, and emerging trends in mixology.

By conducting a comprehensive market study, a cocktail bar establishment can understand consumer preferences, offer creative and enticing cocktails, optimize pricing strategies, and execute targeted marketing campaigns, ultimately leading to a loyal customer following, increased sales, and a prominent presence in the local nightlife scene.

Here's what we've included in the "Market Research" section of our business plan for a cocktail bar establishment :

• key insights and trends in the cocktail bar industry, including popular cocktails, mixology trends, and consumer preferences for bar experiences
• a list of potential market segments for a cocktail bar establishment
• the competitor analysis
• the potential competitive advantages for a cocktail bar establishment

The key points of the business plan for a cocktail bar establishment

What's the business model of a cocktail bar establishment, business model of a cocktail bar establishment.

A cocktail bar establishment's business model revolves around offering a diverse selection of cocktails and mixed drinks, creating a sophisticated and social drinking experience. Revenue is generated through beverage sales, potentially offering signature cocktails, mixology classes, or hosting private events.

The business model focuses on skilled bartenders, using quality spirits and ingredients, creating an inviting and stylish bar ambiance, offering innovative and visually appealing cocktails, and building a loyal customer base through exceptional taste and cocktail experiences.

Success depends on mixology expertise, effective marketing to target cocktail enthusiasts, fostering positive online reviews and recommendations, and providing a vibrant and memorable cocktail bar atmosphere.

Business model vs Business plan

It's important not to mistake "business plan" for "business model."

A business model is a framework that outlines how a company creates value, delivers products or services, and generates revenue.

In a business plan, you articulate your business model through a mechanism called the Business Model Canvas.

Rest assured, we offer a completed Business Model Canvas in business plan for a cocktail bar establishment .

How do you identify the market segments of a cocktail bar establishment?

Market segmentation for your cocktail bar establishment involves dividing your potential customers into different groups based on their drinking preferences, ambiance preferences, and demographics.

These categories may include factors such as craft cocktail enthusiasts, whiskey connoisseurs, cocktail novices, or customers seeking a specific atmosphere (e.g., speakeasy, rooftop bar).

By segmenting your market, you can offer a diverse selection of cocktails, spirits, and bar experiences that cater to each segment's preferences. For example, you might create a menu of creative and artisanal craft cocktails for enthusiasts, curate a collection of rare and aged whiskeys for connoisseurs, offer cocktail classes and tasting sessions for novices, or design a unique ambiance that matches the desired atmosphere.

Market segmentation allows you to effectively target your marketing efforts, create a distinctive bar experience, and establish a loyal customer base within each customer segment by providing a tailored and memorable cocktail bar experience.

In the business plan for a cocktail bar establishment , you will find a comprehensive market segmentation that helps you know and understand your customers.

How to conduct a competitor analysis for a cocktail bar establishment?

It's clear that you won't be the only cocktail bar establishment in your market. There are other venues offering a selection of handcrafted cocktails and mixology experiences to patrons.

A successful business plan requires a comprehensive market study that includes an analysis of your competitors' strengths and weaknesses.

Make sure to pinpoint their shortcomings (such as subpar drink recipes, lack of creativity in cocktail presentation, poor customer service, or using low-quality ingredients in their drinks).

Why is it important to address these concerns? Because these weaknesses can negatively impact the customer experience at cocktail bars. By focusing on these areas and developing unique strengths, you can create a standout cocktail bar establishment that attracts a loyal customer base.

It's what we call competitive advantages—enhancing them will help your business excel.

Here are some examples of competitive advantages for a cocktail bar establishment: expert mixologists creating innovative and signature cocktails, a carefully curated drink menu, stylish and inviting ambiance, live entertainment or events, exceptional bartending skills.

How to draft a SWOT analysis for a mixology bar?

A SWOT analysis can provide insight into potential strengths, weaknesses, opportunities, and threats to help ensure the successful launch of a cocktail bar establishment.

As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for a cocktail bar establishment

The strengths for a cocktail bar establishment

The "S" in SWOT represents Strengths, which are the project's advantageous areas or aspects.

For a cocktail bar establishment, potential strengths could include a knowledgeable and friendly staff, a vast selection of drinks, a unique atmosphere, and a variety of entertainment options.

The weaknesses for a cocktail bar establishment

The "W" represents Weaknesses, which are the project's areas or aspects that need improvement.

For a cocktail bar establishment, potential weaknesses could include a limited selection of drinks, inexperienced bartenders, inadequate staffing, and an inadequate budget.

The opportunities for a cocktail bar establishment

The "O" in SWOT denotes Opportunities, which are external openings or favorable conditions that can be advantageous for the project.

In the case of a cocktail bar establishment, potential opportunities could include offering private events, providing specialty cocktails, partnering with local restaurants, and developing a loyalty program.

The threats for a cocktail bar establishment

When we refer to the "T" in SWOT, we mean Threats, which are the potential obstacles or negative conditions from the external environment.

How to elaborate a marketing strategy for a mixology bar?

To attract customers and achieve sales, it's essential to include a marketing strategy in your business plan.

A mixology bar can attract cocktail enthusiasts and socializing patrons by developing a targeted marketing plan that showcases the bar's expert mixologists, creative and handcrafted cocktail offerings, and a sophisticated and vibrant bar atmosphere.

Cocktail enthusiasts won't visit your cocktail bar establishment without proper promotion; highlighting the skillful mixologists, unique drink creations, and vibrant ambiance is necessary.

Are you implementing effective marketing strategies for your mixology bar? Consider offering mixology classes or cocktail workshops, showcasing visually appealing cocktail creations on social media, and partnering with local restaurants or event planners for cocktail catering opportunities.

Don't panic if you're struggling to grasp the concepts of marketing and communication.

How to build financial projections for a mixology bar?

A successful business plan must include detailed financial information, such as income and expense projections, cash flow statements, and a break-even analysis.

As part of your business plan, it will be necessary to forecast the revenue for your cocktail bar establishment.

We need to make sure that this revenue forecast makes sense to everyone.

Our financial plan for a cocktail bar establishment is user-friendly, providing automated validations that allow you to rectify any assumptions swiftly. This guarantees the creation of credible projections with ease and assurance.

It goes without saying that you'll have to develop a provisional budget for your cocktail bar establishment. Don't overlook any expense. By the way, we've listed them all in our financial plan!

The break-even analysis is a crucial tool in your financial plan, providing insight into whether your cocktail bar establishment will be profitable or not.

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How to Write a Bar Business Plan + Free Sample Plan PDF

Elon Glucklich

6 min. read

Updated March 17, 2024

Free Downloads: Sample Bar and Brewery Business Plan Templates

From sports bars to neighborhood pubs to upscale cocktail bars—drinking establishments are one of the oldest and most enduring types of businesses.

And the industry is projected to grow nearly 2.5% between 2023 and 2030, leaving plenty of opportunity for new businesses..

But competition in the bar industry can be fierce. You need to know your clientele, competitors, and how you’ll stand out if you want to succeed. Not to mention mapping out all the details of your financials and operations. 

Luckily, you can cover all of that (and more) by writing a business plan.

• What should you include in a bar business plan?

These are the typical sections to consider including in your bar business plan.

• Executive Summary
• Market Analysis
• Marketing and Sales Strategy 
• Operations Plan
• Business Overview

Financial plan

The sections you need will vary depending on why you’re writing a business plan and what you intend to do with it . 

Suppose it’s to manage your operations and not something you expect anyone outside of the business to read. In that case, consider keeping it to a few pages and skipping sections like the executive summary.

If you’re applying for a loan, then you’ll need a more formal plan that includes all the sections listed above.

Check out our step-by-step guide to writing a full business plan for more details.

• The 6 elements of an effective bar business plan

Executive summary

Your executive summary is a short, high-level overview of your entire plan. 

The summary should give readers a sense of what factors will make your bar successful. That could include securing a high-visibility location, partnering with a chef who will oversee meal preparation, or negotiating deals with brewers to get their beers in your bar.

If you’re seeking a bank loan for your bar, the lender will read your executive summary first. In all likelihood, they won’t read any further unless the executive summary grabs their attention. 

So, make it clear and convincing.

Market analysis

The market analysis may be the most important part of your entire business plan. 

It’s where you carefully research and document:

• Who your target customers are
• What they want
• What other establishments they may consider

Start by identifying the size of your market . Focus on the number of potential customers above the legal drinking age in your area. Then, segment these customers based on demographics such as age, income level, and lifestyle preferences. 

Then look into who you will be competing with. List and research other bars as well as indirect competition from restaurants, clubs, and even grocery stores that sell beer or home entertainment options.

Here are a few examples of what this process will look like:

Bar customer segmentation

If you find there are a lot of college students and younger adults near your bar location, you should cater your offerings to their tastes. But if you’re near office buildings or event venues, you may want to focus on older customers with more disposable income.

Will you offer a more diverse drink menu, better food, or a unique theme? Explain how these factors will set your bar apart and attract customers. Or, if your area lacks a certain type of bar, such as a sports bar or a high-end cocktail lounge, describe how filling this gap in the market will serve as your competitive advantage.

Marketing and sales strategy

Your market analysis gives you insights into potential customers. Your marketing and sales strategy is where you use those insights to get those customers in your door.

As you looked around at your competitive landscape, maybe you gained some insight into how your ideal customers discover new bars — through social media, online reviews, local event listings, or word-of-mouth.

Start by developing marketing strategies that are tailored to those channels . Consider tactics like:

• Creating engaging social media content showcasing your unique drinks, events and ambiance.
• Partnering with local businesses or events to increase visibility.
• Introducing special promotions to encourage repeat visits and attract new customers.
• Hosting themed nights or events to create buzz and attract specific customer segments.

In your business plan, document how you will implement these efforts and the resources required. 

Operations plan

The operations section of your business plan is where you detail the day-to-day requirements for running the bar smoothly. Start by describing your physical space and key equipment, such as:

• Beverage dispensing systems
• Glassware and utensils

Specify the types and number of each that you’ll need. Then you can address staffing needs, describing the roles of bartenders, servers, and support staff. Document in your plan that you’ll have a staffing strategy to cover peak hours.

You should also cover inventory management. Describe how you’ll stock alcoholic and non-alcoholic beverages, ingredients for cocktails and food. Be sure to spend time discussing supply chains for sourcing these ingredients.

Document the types of technology you’re using, like point-of-sale systems, inventory tracking, or customer reservation platforms. 

Finally, ensure that your operations plan demonstrates how you will comply with any licensing, health and safety regulations and that you have a plan for ensuring responsible customer behavior.

Business overview

The overview should fill in any gaps the reader may have, including:

• The name of your bar
• When it was founded (if it’s an existing business)
• The inspiration behind the business

You should include the background and qualifications of key team members here. Include their experience in the bar industry and any other experience that’s relevant to their position.

If you’re running an existing bar, discuss previous achievements like revenue milestones, recognitions, or community events you’ve hosted.

You don’t need a deep financial background to run a successful business. But it’s important to develop projections for how you expect the bar to perform. If you’re starting a new bar, consider that you’ll need to pay upfront costs like equipment, supplies, licenses and rent.

Then there are the ongoing costs like employee salaries, marketing, and continuing to keep your shelves stocked.

Making educated guesses about the future will help you determine what’s working, and where you should make adjustments as you run your business.

Include sales and expense forecasts in your plan. The financial section also should include a cash flow statement , income statement , and balance sheet .

Remember, no one knows exactly how the future will pan out — these projections are your baseline for how you think the business will do, and you’ll adjust them over time as you update your plan with actual results.

• Bar business plan templates and examples

To see how other bar businesses have created their plans, browse our free library of bar and brewery business plans . You can also check out our full selection of food and beverage business plans , or our entire library of over 550 business plans across industries.

Download as many as you want in PDF or Word format to help you write your own business plan.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.

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For many with a passion for the nightlife and hospitality, the dream to open a bar remains persistent. If you’re one of them but are unsure about navigating the complexities of the bar industry, don’t have to worry. Writing a business plan is the first step in transforming this aspiration into a tangible reality. A detailed bar business plan will help streamline your vision, ensuring you’re well-prepared to venture into the bustling world of bar businesses with clarity and confidence.

What is A Bar Business Plan?

A bar business plan is a strategic roadmap that outlines your vision and the steps required to bring it to fruition. It encompasses every aspect of your business, from the fundamental business concept down to the intricate details of daily operations. In essence, it’s the blueprint to grow your business and ensure its longevity in a competitive market.

A great business plan doesn’t merely serve as an internal guide; it’s a persuasive tool to attract stakeholders, investors, and partners. It demonstrates how your bar will attract customers, generate profits, and stand out in the crowded nightlife landscape.

One might ask, “What makes a bar business plan unique?” It’s the blend of the universal principles of business, combined with the niche requirements of the bar industry. This includes, but is not limited to, licensing, menu crafting, entertainment provisions, and safety measures.

Given the dynamic nature of the bar industry, it’s important to include not only your immediate goals but also long-term objectives and strategies for adapting to market shifts. With a clear and comprehensive bar business plan, you’re laying a solid foundation for a successful enterprise.

Why A Business Plan Is Important For A Successful Bar Business? 

Owning a bar is a dream for many, but transforming this dream into a profitable reality requires meticulous planning and foresight. This is where a business plan plays a pivotal role.

Clear Vision and Objectives: A business plan helps establish a clear vision and set measurable objectives for your bar. Whether you aim to create a niche cocktail lounge, a bustling sports bar, or any other type of establishment, your business plan outlines the specific steps you’ll take to make your bar the go-to destination for potential customers. It provides direction and keeps all stakeholders aligned with the business’s overarching goals.

Financial Planning: One of the main reasons business owners create business plans is for robust financial planning. A bar has various financial intricacies, from sourcing ingredients to staffing and marketing expenses. A business plan ensures you’re well-equipped to manage cash flows, investments, and potential financial pitfalls. Moreover, potential investors often request a detailed business plan before committing funds, making this a crucial component for securing necessary capital.

Operational Efficiency: Every bar operates uniquely, depending on its target audience and theme. However, operational efficiency remains a consistent requirement for all bar owners. A business plan is a plan, after all, and it dives deep into the day-to-day operations, ensuring that every aspect, from supplier agreements to employee shifts, runs smoothly and cost-effectively.

Step-by-step Guide To Write A Bar Business Plan.

Navigating the world of the bar industry can be intricate, and the type of bar you want to open plays a pivotal role in shaping your business plan. Whether it’s a neighborhood bar, a high-end cocktail bar, or a wine bar with live music, each requires a distinct approach. This guide is tailored to help entrepreneurs and business owners create a comprehensive plan, ensuring the grand opening of the bar you dream of is a success.

1. Executive Summary

The executive summary is a concise overview of your entire business plan, acting as a snapshot that encapsulates the essence of your vision and strategy. Typically, it’s about one to two pages long and is placed at the beginning of your business plan, but it’s often written last.

What should you cover in an Executive Summary?

• Introduce your bar business, highlighting what makes your bar unique.
• State your mission and vision, giving clarity to the type of bar you aim to establish.
• Outline the main objectives, from your grand opening to long-term goals.
• Provide a financial overview, offering potential investors a glimpse into projected profits and growth.

2. Bar Description

This section delves into the specifics of your bar, painting a vivid picture of what patrons can expect and how you plan to operate.

What should you cover in the bar description section?

• Talk about your bar concept, whether it’s a wine bar, cocktail bar, or a bar with live music.
• Explain your unique selling proposition – what makes your bar stand out from the competition.
• Detail the operations, from opening hours to the ambiance you intend to create.

3. Market Analysis

This segment identifies and studies your potential customers, the location for your bar, and your competitors, helping you strategize accordingly.

Factors to cover:

• Target market: Define the demographics and preferences of those you plan to cater to.
• Location: An existing bar might already have an established clientele, but a new location needs careful consideration for accessibility, safety, and potential customer traffic.
• Competition: Analyze trends in the bar industry and see how competitors operate, ensuring your offerings are both competitive and unique.

4. Organization and Management

This is the operational backbone of your bar, detailing the structure of your business and the team that will run it.

What should you cover in the organization and management plan?

• Bar ownership information: Are you a sole proprietor, or is this part of a larger partnership or corporation?
• Profiles of your Bar management team: Include bios of key team members, showcasing their expertise and how they’ll contribute to running a successful bar.

5. Sample Menu

This section teases what your bar will offer in terms of food and beverages, acting as a tantalizing preview for potential patrons and investors.

What should you consider when creating a sample menu?

• Menu items: Detail the drinks and possibly accompanying food items.
• Unique Selling Proposition: Highlight specials or unique mixes. For instance, a cocktail bar might focus on signature mixes, while a wine bar could emphasize rare finds.
• Menu Pricing : Don’t forget to address pricing, taking into account costs and desired profit margins.

6. Marketing Strategy

This section delineates how you plan to attract customers to your bar and keep them coming back.

What should you cover in a marketing strategy for your bar business?

• Define your brand: From logo to interior decor, consistency is key.
• This could range from social media campaigns ,loyalty programs, SEO for website, or partnership with local businesses. 
• Considering using an  online food ordering system  in your bar
• Create a  digital menu with QR code  to make your menu easy for your customers to access online
• Sales Strategies: Special promotions, events, or partnerships that drive sales.

7. Business Operations

This segment breaks down the day-to-day functioning of your bar, ensuring nothing is overlooked.

BWhat operational issues should you address in your business plan?

• Supply chain: Detail your suppliers for everything from alcohol to garnish.
• Operating hours: Will you have a late-night license? Open only on weekends?
• Staffing: Consider the roles you need to hire for, from bartenders to security.
• Equipment: Everything from the bar counters to the sound system.

8. Financial Plan and Loans

How Many Ways to Fund Your Bar?

Securing funds to start and grow their bar business is a concern for many aspiring bar owners. While personal savings might be the go-to for some, others might look into bank loans, angel investors, or even crowdfunding campaigns. Exploring all available options can ensure you fund your bar easily and efficiently.

Important Questions to Consider When You Create Your Funding Request

Before approaching potential investors or lenders, it’s pivotal to have a clear plan detailing how the funds will be used. What renovations or modifications are necessary? What will the initial stock and equipment cost? What provisions have been made for operational costs until the bar starts turning a profit? Having these answers ready can make your funding request more compelling.

9. Financial Projections

When diving into the world of bar entrepreneurship, understanding your financial landscape is crucial.

Break-even analysis

 It’s an evaluation that helps you determine when your bar will be able to cover all its expenses and start making a profit.

To calculate the break-even point, use this formula: Break Even Point = Fixed Costs / (Price – Variable Costs)

Knowing this can help you write a more convincing business plan, highlighting the viability of your venture.

Projected profit and loss statement

A crucial part of your bar business plan that offers insights into potential profits and losses your business might encounter.

Cash flow analysis

This gives you the key elements to understand how cash moves in and out of your business. By following the bar business plan writing best practices, you can quickly and easily complete these projections. Ensuring that they include a winning strategy will make your financial plan more robust and appealing to potential investors.

Sample Bar Business Plan Template

The following is a comprehensive example of a bar business plan. It’s a great tool to guide you in writing your business plan.

Mission : To provide a unique drinking experience that celebrates local flavors and promotes community bonding.

Vision : To be the neighborhood’s top bar destination, known for its distinctive drinks and vibrant ambiance.

Bar Description : The Urban Vine, a wine-centric bar focusing on regional wines and locally sourced ingredients.

Costs : Estimated starting cost: $250,000.

Profits : Projected first-year net profit: $60,000.

2. Description of the Bar

Bar Concept : A contemporary wine bar featuring local wines and complementary tapas-style dishes.

Bar Name : The Urban Vine.

Bar Type : Wine bar with a secondary focus on craft beers.

Bar Location : 123 Vine Street, Downtown District.

Order Fulfillment : Table service and bar seating available, with an option for outdoor patio seating.

Working Hours : Monday to Thursday: 4 PM – 12 AM; Friday & Saturday: 3 PM – 1 AM; Sunday: 2 PM – 10 PM.

3. Menu Offer

Type of Food and Drink : Wine from local vineyards, craft beers, and tapas-style dishes made from locally sourced ingredients.

Offer : Regular wine tasting events showcasing new arrivals, paired with chef-special appetizers.

Unique Selling Point : Every wine bottle tells a local story, giving drinkers a taste of the region’s vineyards.

4. Market and Competition Analysis

Market Analysis : The Downtown District has a population predominantly comprised of working professionals aged 25-45, making it a prime location for a bar or pub.

Target Customer : Young professionals and wine enthusiasts looking for a quality drinking experience in a relaxed setting.

Size of the Target Customer : Approximately 10,000 individuals fitting the profile within a 5-mile radius.

Competition Analysis : Three other wine bars operate within the district.

Size of the Competition : Among the competitors, the largest has a seating capacity of 75, while the others can host around 50 patrons each.

Competitors’ Offer : Basic wine selections, some with occasional live music nights.

Competitors’ Prices : Average price of $8 per glass of wine and $6 for beer.

5. Investment Plan (Detailed Cost Analysis)

• Leasehold improvements: $80,000
• Furniture & Fixtures: $30,000
• Licensing & Permits: $20,000
• Initial Inventory: $40,000
• Rent: $4,000
• Salaries: $10,000
• Utilities: $1,500
• Miscellaneous: $2,500
• Total Cost : Anticipated first-year expense: $322,000.

6. Financial Forecast

 Considering the costs of starting and the projected revenue, breakeven is anticipated by month eight. The first-year projected revenue is $382,000.

Owner/Manager : Jane Doe – A passionate wine enthusiast with a background in business management.

Head Bartender : John Smith – Experienced in running a bar, skilled in crafting unique drink experiences.

Kitchen Staff : A team of three, led by Chef Anna, specializing in tapas dishes.

8. Marketing Plan

Strategies will focus on social media promotions, local partnerships, and hosting events. Ideas like wine-tasting events, collaborations with local vineyards, and monthly themed nights will be implemented. Special offers will be provided for group bookings, early bird timings, and repeat customers.

This business plan template will help prospective bar owners in crafting their unique plan to make their dream bar a reality. With a robust business strategy, The Urban Vine is set to become a renowned establishment in the Downtown District.

Tips For Creating An Effective Bar Business Plan Outline

Crafting a comprehensive bar business plan is pivotal in turning your vision into a successful venture. Here are some insightful tips to help you create an efficient outline:

Understand Your Niche : Begin by identifying the unique character of your bar. Is it a cozy neighborhood nook or a sophisticated wine bar? The specifics determine the kind of customers you’ll attract and the atmosphere you aim to create.

Include Comprehensive Details : The following bar business plan components are essential: executive summary, bar description, menu offer, market analysis, investment plans, financial forecasts, team structure, and marketing strategies. Don’t skimp on details; a comprehensive plan showcases your dedication and thoroughness.

Focus on Your Unique Selling Proposition (USP) : What makes your bar stand out? Maybe it’s an exclusive range of craft beer and wine, or perhaps it’s an innovative theme. Always include this unique factor in your business plan as it’s pivotal for attracting customers.

Plan Your Offerings : Are you focusing just on drinks or do you also plan to serve a variety of food items? Highlight your primary offerings, be it beer and wine or gourmet appetizers.

Keep It Adaptable : The bar industry is ever-evolving. Ensure your business plan is flexible enough to adapt to changing trends and customer preferences.

Seek Feedback : Before finalizing, share your draft with industry professionals or trusted peers. Their insights could help you include in a winning strategy that perhaps you hadn’t thought of.

Frequently Asked Questions

1. what makes a bar profitable.

A bar’s profitability hinges on multiple factors. A strategic location, a unique selling proposition, efficient cost management, and high-quality service all play pivotal roles. Moreover, understanding the preferences of your target audience and adapting accordingly, offering promotions during off-peak hours, and managing overheads effectively can significantly enhance a bar’s profit margins.

2. What is the executive summary of a bar business plan?

The executive summary is a concise overview of the bar’s business plan. It provides a snapshot of the business concept, its objectives, the financial outlook, and primary offerings. This section is particularly crucial for potential investors as it gives them a quick glance at the bar’s potential profitability and operational strategy.

3. How to write a good executive summary for a business plan with example?

When writing an executive summary, it’s essential to be clear and concise. Start with your bar’s mission and vision. Outline the primary objectives, the bar’s USP, and provide a brief financial overview.

Example: “ Sapphire Lounge aims to be the city’s premier wine bar, offering an eclectic range of international wines in a cozy, upscale environment. Located in the heart of the business district, our vision is to provide professionals a relaxing spot to unwind. We project an annual revenue of $500,000, with an initial investment of $150,000. Our unique wine-tasting events and wine-pairing dinners set us apart in the competitive landscape.”

4. Do bars make a lot of money?

The profitability of bars varies based on several factors like location, concept, management, and market demand. While some bars can yield high profits, especially those in prime locations with a unique concept, others might struggle due to competition, mismanagement, or changing market trends. However, with the right strategy, understanding of the target audience, and operational efficiency, bars can indeed be quite lucrative.  

Crafting a comprehensive business plan is the bedrock of any successful bar venture. By diligently addressing each section and meticulously detailing all elements you aim to include in your business plan, you’re not only preparing for potential challenges but also envisioning the pathway to success. Remember, a business plan is not a static document; it’s a dynamic blueprint that can evolve with the changing demands of the industry and your clientele. Every decision, from the drinks you offer to the promotions you run, should align with the vision set out in your plan, ensuring long-term growth and sustainability.

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Bar Business Plan Template

Written by Dave Lavinsky

Bar Business Plan Outline

• Bar Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Start Your Bar Business Plan Here

Bar Business Plan

You’ve come to the right place to create a business plan for your bar or pub.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their bars and pubs.

To write a successful bar business plan, you will first need to decide what type of bar you want to open. Do you plan to open a sports bar, a wine bar, a cocktail bar, or a nightclub? What kind of alcoholic beverages will you serve? Will you have live music?

You will then need to gather information about your business and the bar industry. This type of information includes data about your potential customers, marketing strategies to reach your target market, and 5-year pro-forma financial statements (income statement, balance sheet and cash flow statement).

Sample Bar Business Plan

The following bar business plan example gives you the key elements to include in a winning business plan:

• Executive Summary – The Executive Summary is the most important part of your business plan. It is a brief overview of your bar business concepts, its products and services, potential market opportunity, and competitive advantage.
• Company Overview – Also called the Company Analysis, here, you will provide a detailed description of your bar, its products and other services, and legal structure.
• Industry Analysis – In the Industry Analysis, you will provide an in-depth analysis of the industry in which your bar operates including major players in the local market, market size and growth, and profitability.
• Customer Analysis – In the Customer Analysis, you will identify your potential customers and provide insights into their purchasing habits. You will also create customer segments and discuss your marketing strategy for reaching them.
• Competitive Analysis – In the Competitive Analysis, you will identify your direct competition (other local bars and local businesses that serve alcohol) and provide insights into their strengths and weaknesses. You will also discuss your unique selling point and how you plan to stay ahead of the competition.
• Marketing Plan – The Marketing Plan includes a discussion of your marketing strategy to drive more foot traffic to your bar along with your pricing strategies. You will also provide a sales forecast and budget for your marketing efforts.
• Operations Plan – In the Operations Plan, you will discuss your bar’s day-to-day operations including inventory management, providing exceptional customer service, and creating loyal customers. You will also provide your business goals that you plan to achieve and a budget for your operating expenses.
• Management Team – In this section, you will provide a brief overview of your bar management team, including the bar owner, and their experience in the industry.
• Financial Plan – In this section, you will provide a three-year financial statement for your bar. This will include your income statement, projected balance sheet, and cash flow analysis.

Next Section: Executive Summary >

Bar Business Plan FAQs

What is a bar business plan.

A business plan is a planning tool used to start a new bar and/or grow your thriving bar business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your bar business plan using our Bar Business Plan Template here .

What Are the Main Types of Bars?

There are many types of bars . Most bars are local bars and are known as dive bars or a neighborhood bar.  Sports bars are also a very popular business option. There are also posh and luxurious bars that craft cocktails and offer high-end alcoholic drinks. There are trendy bars that offer the latest industry trends in cocktail and wine offerings. Other bars are location-focused and are unique to the area of town or location that it is in. Many bars also serve food as an option to accompany the alcoholic drink choices.

What Are the Main Sources of Revenue and Expenses for a Bar?

The primary source of revenue for a bar are the alcoholic drink items and food sold at the establishment.

The key expenses for a bar are the costs to purchase the alcohol (beer, wine, liquor) inventory, bar equipment and supplies, overhead expenses for the staff and rent, and any marketing costs the bar chooses to partake in.

How Do You Secure Funding for Your Bar?

Bar businesses are most likely to receive funding from banks. To attract potential investors, you should have an effective bar business plan with a solid business strategy and financial plan. Another option for a bar is to obtain a small business loan to help cover startup costs. SBA loans are a popular option as they offer longer loan terms with lower interest rates. Outside investors, crowdfunding, and/or friends or family are other typical funding options.

What are the Steps To Start a Bar?

Starting a bar business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

• Write A Bar Business Plan - The first step in starting a business is to create a detailed bar business plan for a bar that outlines all aspects of the venture. This should include market research on the local market and potential target market size, information about the services or products you will offer, the bar's concept, marketing efforts, pricing strategies and a detailed financial forecast.  
• Choose Your Legal Structure - It's important to select an appropriate legal entity for your bar . This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your bar business is in compliance with local laws.
• Register Your Bar Business - Once you have chosen a legal structure, the next step is to register your bar with the government or state where you’re operating from. This includes obtaining business licenses and permits (i.e., food service license and/or liquor license) as required by federal, state, and local laws. 
• Identify Financing Options - It’s likely that you’ll need some capital to start your bar or pub , so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 
• Choose a Bar Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your business operations. 
• Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 
• Acquire Necessary Bar Equipment & Supplies - In order to start your bar business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 
• Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your bar . Your marketing strategy should include creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a thriving bar business:

• How to Start a Bar Business
• How to Open a Bar Business

Where Can I Get a Bar Business Plan PDF?

You can download our free bar business plan template PDF here . This is a sample business plan template you can use in PDF format.

500+ business plans and financial models

How to write a Bar Business Plan: Complete Guide

• January 3, 2023
• Food & Beverage

Whether you’re looking to raise funding from private investors or to get a loan from a bank (like a SBA loan) for your bar, you will need to prepare a solid business plan.

In this article we go through, step-by-step, all the different sections you need in your bar business plan. Use this template to create a complete, clear and solid business plan that get you funded.

1. Executive Summary

The executive summary of a business plan gives a sneak peek of the information about your business plan to lenders and/or investors.

If the information you provide here is not concise, informative, and scannable, potential lenders and investors may lose interest.

Why do you need a business plan for a bar?

The purpose of a business plan is to secure funding through one of the following channels:

• Obtain bank financing or secure a loan from other lenders (such as a SBA loan )
• Obtain private investments from investment funds, angel investors, etc.
• Obtain a public or private grant

How to write your bar business plan’s executive summary?

Provide a precise and high-level summary of every section that you have included in your bar business plan. The information and the data you include in this segment should grab the attention of potential investors and lenders immediately. Ensure that the executive summary doesn’t exceed 2 pages in total.

The executive summary usually consists of the five major sub-sections that include:

• Business overview : introduce your bar and provide a brief of the products and services you will offer. For instance, it may be a sports bar, a social hub, a music venue, or something else. Also mention the number of customers your bar can host at once.
• Market overview : the market overview section will contain an overview of the expected market size and growth of the bar industry in your area as well as your target audience and its demographics. Another important part of any market overview is a clear and thorough analysis of your competitors
• People : introduce your bar’s management and employee structure. Provide a brief (no more than a couple of sentences each) of the knowledge and experience of the team. Also, speak about your hiring plans: who will you hire and who will report to whom?
• Financial plan : how much profit and revenue do you expect in the next 5 years? When will you reach break-even point and start making profits? Include here your key financials such as revenue, gross profits, and net profit
• Funding ask : what loan/investment/grant are you seeking? How much do you need? How long will this last?

Bar Financial Model

Download an expert-built 5-year Excel financial model for your business plan

2. Bar Business Overview

This is the section of your bar business plan where you properly introduce your bar and its business model.

Here is a sample list of questions that you must try to answer in this section:

• What is the rationale behind the bar?
• What’s the bar’s location and why did you select that location?
• Why did you select the type of bar you want to open?
• What will be the products and services you will offer?
• What will be your pricing strategy and why?
• Will your operating hours be the same as your competitors?
• Who is your target audience?
• How many customers can you serve at once (capacity)?
• What will be the legal structure of your company?

a) History of the Project

Here you should explain the background of your project, more importantly:

• The passion & experience of the business owner for the bar industry
• The rationale behind the business: why did you decide to create a bar today?

Passion & Experience

You may or may not have prior experience. If you have experience, speak about it and how it will help you to run your business. For instance, you may have been a senior manager in a bar for say 5 years, and now you want to start your own bar and use your knowledge to run it more efficiently.

However, if you don’t already have experience, that’s fine. You must demonstrate your passion and some industry knowledge (you may have conducted thorough research).

Is there a certain problem (or perhaps, a set of problems) that your bar will try to solve when it comes into existence? For example, there may not be any sports bar in your area where sports enthusiasts can enjoy sports on a big screen while enjoying drinks and food.

But that’s not all! The market must be suitable for a business to exist and thrive. For instance, if the area has a high rate of hooliganism and vandalism, opening a bar in the area might not be a good idea. Similarly, if the population of the target market has a high percentage of under-aged people and non-drinkers, you may not receive enough customers to keep the bar profitable.

b) Business Model

This sub-section of the Business Overview will explain your business model. Describe the following points briefly:

• Will you buy an existing bar and do some remodeling, or will you start a new bar and design it from scratch?
• The type of bar you want to open and why

What are the different types of bars?

There are multiple types of bars. Some of them that you may consider include, but are not limited to:

• Specialty Bar: They specialize in one or two things. For instance, it can be a Martini Bar or a Cigar Bar. If you decide to open a Martini Bar, expect to have more women customers since the drink is popular among women. Again, a Cigar Bar will attract people who want to enjoy a smoke while drinking
• Sports Bar: This is a type of bar that will televise sporting events continuously on a big TV screen. Usually, these bars remain crowded, and the male species will usually flock to these bars. Things can get raunchy and drunk men can pick up fights.
• College Bar: This type of bar attracts the college crowd – people who have just turned 21. With drinking becoming legal for them, you can expect people to have lots of fun and order a lot of booze. Sorority girls, frat boys, cheerleading squad, football team – you will find them all. But they aren’t among the most responsible drinkers. So, expect some mess
• Concept/Cocktail Bar: These bars are specially for people with big spending capacity. Usually, the bars have something unique to offer and often attract tourists. For example, you may consider an open-air rooftop bar offering a sweeping view of the city. These bars are more about expensive thrills and new trends, and they often tend to be very extravagant
• Irish Pub: They specialize in offering alcoholic drinks that come straight from Ireland. Usually, they have a great ambiance, and they are perfect for relaxation and de-stressing. They have that typical Irish feel complete with decorations and pleasant music

There are many more types of bars that you may consider. However, remember that the bar you are opening must have a high percentage of the target audience. For instance, if you are located in an area popular for expensive tourism, a Cocktail Bar Bar may be a better choice.

c) Products

Of course, the products you will offer in your bar will depend on the type of bar you are opening.

Here, you should provide an overview of the products you are selling, drinks and/or food. Whilst it’s always good to add details, keep the detailed menu for the appendix instead.

Instead, explain here what are the main products you will sell (if you’re specializing in specific drinks for example) which shall tie into how you differentiate yourself vs. competitors later (see Market Overview ).

d) Pricing Strategy

In this sub-section, you must explain the pricing strategy of your bar. If you have multiple competitors in the vicinity, you cannot have huge pricing variation, especially for the drinks. Pricing will, of course, depend on the type of bar you are opening. 

For instance, if you are going for a College Bar with a major focus on beers, you will most likely charge the standard beer rates. However, if you are offering additional entertainment services, you can charge for that, too.

Similarly, you cannot expect to charge super high like the concept bars if you are opening a Sports Bar. Yes, there can be significant price variations in the food that you are offering.

Create a pricing chart and ensure to provide an average price range for your products. You don’t need to provide exact pricing for each product. For example, if you are selling beer, you don’t need to list each beer brand and its price. You can just use a range instead (e.g. $6 to $9 for a pint).

Adding prices to your bar business plan is very important: it will allow investors to tie your pricing strategy with your financial projections later on (see Financial Plan ).

e) Legal Structure

Finally, your business overview section should specify what type of business structure you want. Is this a corporation or a partnership (LLC)? Who are the investors? How much equity percentage do they own? Is there a Board of Directors? If so, whom? Do they have experience in the industry?

3. Bar Market Overview

A complete understanding of the market where you want to operate is important for the success of your business.

For example, if you intend to open an Irish Pub in an area teeming with a college crowd, that will be a foolish choice. Similarly, if you want to open a Nostalgia Bar and try to attract a music-loving crowd, it will not work.

Only when you understand your target audience and weave your service offerings according to their needs, you will succeed.

Therefore, you must cover 3 important areas in the market overview or market analysis section of your bar business plan:

• Bar industry status quo : how big is the bar industry in your area? What is its growth rate (or decline rate) and what are the factors contributing to its growth or decline?
• Competition overview : how many competitors are there? How do they compare vs. your business? How can you differentiate yourself from them?
• Customer analysis : who is your target audience? What type of bars do they prefer? How regularly do they drink? What type of drinks do they prefer? How much do they spend at bars every month?

a) Bar Industry Status Quo

How big is the bar industry in the us.

The US bar industry is estimated to be at $26.7bn in 2022 , and it registered a growth of 16.4% in 2022. The primary factor driving the growth is the increased per capita expenditure on alcohol. Also, there are approximately 71,634 bars and nightclubs in the country.

How big is the bar industry in your area?

Once you provide the overall picture of the US, divert your attention to the area where you want to operate.

Yet, it might not be possible to find region or area-specific numbers online. In such case, you must estimate the size yourself. Read our article on how to estimate TAM, SAM and SOM for your startup.

For example, if there are 71,634 bars and nightclubs in the country with total annual revenue of $26.7bn, the average annual revenue for each establishment is $372,728. Therefore, if the area where you want to open your bar has 30 operational establishments, you can safely assume that the bar industry in your area is worth approximately $11.2 million.

How fast is the bar industry growing in the area?

You must show the expected growth rate of the bar industry in your area. This information may not be available via online research papers. However, assessing the growth rate will not be difficult.

You can approach each bar separately and ask for their year of establishment. You will get a clear picture of the overall growth rate. For instance, if there were 20 bars in 2018 and 30 bars in 2022, the average annual growth rate is 11%.

What are the current bar market trends in your area?

It is vital to understand the trends of the bar industry in your area. Understanding trends will allow you to devise marketing strategies.

Understanding trends won’t be easy. You must conduct research and talk with your target audience. Additionally, you must also study your competitors to understand their target audience, the products they sell, etc.

Some common questions you may ask the target audience include:

• What type of bars do they prefer?
• At what time of the day do they prefer to visit a bar?
• How frequently do they visit bars?
• What type of drinks and food do they usually order?

You can ask as many questions as you need to understand the evolving trends.

b) Competition Overview

Studying your competitors’ business models is vital. You need to understand what makes them successful or why they fail. A clear understanding of their products and services, marketing strategies, etc., will allow you to provide a better service.

If your competitors are offering nearly the same products & services, then what is their market share and how do they market their products & services to attract new customers?

It is always a good idea to do some research (if necessary, physically visit your competitors without revealing your business intentions) and create a comparative table summarizing their product & service offerings, marketing strategies, target audience, etc.

Here is a sample table that you can use as a reference:

Bar SWOT Analysis

Try to provide a SWOT analysis as part of your competitor analysis too. It must be crisp and highly focused. SWOT stands for Strength, Weakness, Opportunities, and Threats.

Here is a sample that you can use as a reference:

• Strengths : 8 years of experience bartender experience and 6 years of senior management experience in a reputed bar, experienced staff with a minimum of 4 years of experience
• Weaknesses : Startup cost, no initial brand reputation
• Opportunities : A massive campus crowd of legal drinking age, no college bar catering to the specific needs of the campus crowd
• Threats : Increasing rent due to increased demand for commercial spaces, a high street brand will start operations shortly

A clear understanding of your strengths and weakness along with opportunities and threats in the real market can help you to design your marketing strategy . It also helps potential investors to assess the risk and reward profile of your business.

c) Customer Analysis

This is the sub-section where you will provide a detailed analysis of your target audience. You will expand the data points your provided earlier in the Business Overview segment.

Some important points that you must include in your customer analysis include:

• Age and gender distribution (you can get local demographic data from census.gov )
• Per capita expenditure on alcohol
• Frequency of bar visits
• Average monthly income and disposable income
• Average bill size per visit
• Average yearly or monthly spending on alcohol and food at bars
• Type of bars preferred
• The expected price range for drinks and food
• Inclination towards loyalty programs & free perks
• Things they dislike about existing bars and what they expect to be improved

You can add as many data points as required to validate your business decision. The idea here is to display your deep understanding of the target audience and the needs, preferences, and expectations. This knowledge can help you to tailor your products & services to attract new customers.

4. Bar Sales & Marketing

This is the segment where you outline your customer acquisition strategy. Try to answer the following questions:

• What are the different marketing strategies you will use?
• How do you intend to track the success of your marketing strategy?
• What is your CAC or customer acquisition cost?
• What are your USPs?
• What is your marketing budget?
• What promos and offers do you intend to provide for attracting new customers?

Let’s expand a bit on a few questions below:

What marketing channels do bars use?

A few marketing channels that bars typically use are:

• Content marketing (share content like best foods that pair with beer, wine, whiskey, rum, and vodka; how to make crystal clear ice balls or cubes at home, etc.) on platforms like blogs, social media, etc.
• Word of mouth
• Local listing
• Instagram/Facebook ads, etc.

It is not necessary to use all channels. You can start by focusing on a few of them. You can include other marketing strategies later.

Also, you must have a fair and nearly accurate estimate of your marketing budget. Failure to display a well-planned and adequate cash flow for advertising and marketing can lead to investors losing confidence.

What are your Unique Selling Propositions (USPs)?

In other words, how do you differentiate yourself vs. competitors? This is very important as you might need to win customers from competitors.

A few examples of USPs are:

• Happy Hours : Enjoy a 30% discount on all drinks at food between 2 PM and 4 PM
• Free Drinks : 2 drinks on the house for bills above $200
• Price Match : Find a bar with a lower price for the same drinks and we will match the price

Your USP will depend on your business model, competitor analysis, and target audience. Whatever your USP be, it should appeal to your potential customers and attract them. Plus, The USP you offer should be convincing enough for investors and lenders.

5. Management & Organizational Structure

You must address 2 things here:

• The management team and their experience/track record
• The organizational structure: different team members and who reports to whom?

a) Management

Small businesses often fail because of managerial weaknesses. Thus, having a strong management team is vital. Highlight the experience and education of senior managers that you intend to hire to oversee your bar business.

Describe their duties, responsibilities, and roles. Also, highlight their previous experience and explain how they succeeded in their previous roles.

It is also important that you explain how their experiences and qualifications help you in implementing the bar you are proposing. If they have specialized training and education (such as business management, bartender certification, etc.), add that information.

b) Organizational Structure

Even if you haven’t already hired a senior manager, bartender, waitress or waiter, barback, security guard & bouncer, and other relevant staff members, you must provide a flowchart of the organizational structure defining the hierarchy of reporting.

Such a flowchart will demonstrate your management skills and plans to the interested investors or lenders. If necessary, they may even suggest changes to improve the management structure.

6. Financial Plan

The financial plan is perhaps, with the executive summary, the most important section of any bar business plan.

Indeed, a solid financial plan tells lenders that your business is viable and can repay the loan you need from them. If you’re looking to raise equity from private investors, a solid financial plan will prove them your bar is an attractive investment.

There should be 2 sections to your financial plan section:

• The startup costs of your project (if you plan to start a new bar, purchase new equipment, renovate your bar, etc.)
• The 5-year financial projections

a) Startup Costs

Before we expand on 5-year financial projections in the following section, it’s always best practice to start with listing the startup costs of your project. For a bar, startup costs are all the expenses you incur before you open your bar and starting making sales. These expenses typically are:

• The renovation / refurbishment of the building / space
• Equipment & furniture
• Initial inventory
• Licenses & permits

As an example, it costs on average $148,500 to $239,000 to open a hard liquor bar with 80 seats in a premium location.

Note that these costs are for illustrative purposes and may not be fully relevant for your business. For more information on how much it costs to open and run a bar, read our article here .

b) Financial Projections

In addition to startup costs, you will now need to build a solid 5-year financial model for your bar.

Your financial projections should be built using a spreadsheet (e.g. Excel or Google Sheets) and presented in the form of tables and charts in the business plan of your bar.

As usual, keep it concise here and save details (for example detailed financial statements, financial metrics, key assumptions used for the projections) for the appendix instead.

Your financial projections should answer at least the following questions:

• How much revenue do you expect to generate over the next 5 years?
• When do you expect to break even?
• How much cash will you burn until you get there?
• What’s the impact of a change in pricing (say 20%) on your margins?
• What is your average customer acquisition cost?

You should include here your 3 financial statements (income statement, balance sheet and cash flow statement). This means you must forecast:

• The number of customers over time ;
• Your expected revenue ;
• Operating costs to run the business ;
• Any other cash flow items (e.g. capex, debt repayment, etc.).

When projecting your revenue, make sure to sensitize pricing and the number of customers as a small change in these assumptions will have a big impact on your revenues.

7. Funding Ask

This is the last section of your bar business plan. Now that we have explained what your bar is about, the products you sell and to whom, what’s your strategy, where you go and how you get there, this section must answer the following questions:

• How much funding do you need?
• What financial instrument(s) do you need: is this equity or debt, or even a free-money public grant?
• How long will this funding last?
• Where else does the money come from? If you apply for a SBA loan for example, where does the other part of the investment come from (your own capital, private investors?)

If you raise debt:

• What percentage of the total funding the loan represents?
• What is the corresponding Debt Service Coverage Ratio ?

If you raise equity

• What percentage ownership are you selling as part of this funding round?
• What is the corresponding valuation of your business?

Use of Funds

Any bar business plan should include a clear use of funds section. This is where you explain how the money will be spent.

Will you spend most of the loan / investment in paying your employees’ salaries? Or will it cover mostly the cost for the lease deposit and the renovation?

Those are very important questions you should be able to answer in the blink of an eye. Don’t worry, this should come straight from your financial projections. If you’ve built solid projections like in our Bar financial model template , you won’t have any issues answering these questions.

For the use of funds, we also recommend using a pie chart like the one we have in our financial model template where we outline the main expenses categories as shown below.

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How to Write a Business Plan for a Bar

Craft a successful bar business plan with our 2024 template. Get expert tips on key aspects of a thriving bar. Perfect for new and existing owners.

When crafting a business plan for a bar, understanding its profitability and maintaining a keen eye on cash flow are crucial for bar owners. The average profit margin for bars and nightclubs typically ranges between 10 to 15% , depending on various factors such as the type of bar, operating costs, and location. Bars that also serve food, like pubs, usually see a slightly lower profit margin of around 7 to 10%. In comparison, the average profit margin for restaurants is significantly lower, typically falling between 3–5%. This difference is partly due to food having a lower profit margin than alcohol and the additional overhead costs associated with maintaining a kitchen.

Opening a bar requires a substantial initial investment, ranging from $100,000 to as high as $800,000. This cost includes location, licenses and permits, renovations, equipment, and marketing. However, despite the high startup costs and operational expenses, owning a bar can be a lucrative business. The average monthly revenue for a bar is approximately $27,500, translating to around $330,000 annually.

Given these figures, opening a bar can be a good investment, often yielding higher average annual returns than the stock market. It's important to note that these are average figures, and profitability can vary greatly depending on numerous factors such as location, quality of service, market trends, and the ability to effectively manage costs and maximize revenue streams.

To navigate these complexities and set a strong foundation for success, a well-structured bar business plan template is essential for a successful bar business. Let's dive into the details of what to include in each section of your bar business plan.

1. Executive Summary

Crafting an engaging overview.

The executive summary is a pivotal section of a successful bar business plan, offering a high-level overview of your venture. It's essential to articulate the core aspects of your business succinctly, capturing the essence of what your bar stands for. Begin with an engaging statement that encapsulates the unique selling proposition of your bar. Briefly highlight the key aspects such as the business concept, target market, and what sets your bar apart from the competition.

Outlining Goals and Strategic Direction

In this part of the executive summary, present your business goals clearly . Whether it's to become a go-to local spot, a leader in craft beers, or the best live music venue, these objectives should align with your overall business strategy. Articulate how you plan to achieve these goals, including a brief overview of your marketing, operational, and financial strategies. This provides readers with a clear understanding of your business direction.

Mission, Vision, and Core Values

Your bar's mission, vision, and core values are more than just words; they are the guiding principles of your business. The mission statement should define the primary purpose of your bar , such as offering an unparalleled selection of beverages or creating a unique atmosphere for socializing. The vision statement looks forward, describing what you aspire to achieve in the long run , like setting new standards in the bar industry or expanding your presence. Core values , such as commitment to quality, sustainability, or community engagement, underpin how your business operates and interacts with customers and the community.

Financial Summary and Future Prospects

Conclude your executive summary with a snapshot of the financial aspects of your bar. Provide an overview of the expected revenue streams, major expenses, and profitability forecasts. Mention any funding requirements or investment opportunities. Lastly, touch on the future prospects and growth potential of your bar, which might include plans for expansion, diversification of services, or tapping into new markets.

2. Bar Concept and Description

Defining the bar's concept.

The concept of your bar is the foundation upon which your business is built. It involves more than just deciding on the type of drinks you will serve. Consider what unique experience or atmosphere you want to offer in your bar business plan. Are you envisioning a cozy, traditional pub, a high-energy nightclub, or a sophisticated cocktail lounge?

When detailing your concept, think about the themes or experiences that will distinguish your bar from competitors. This could be a focus on local craft beers, a specific cultural theme, or a unique entertainment offering like live music or themed nights.

Factors Influencing Your Bar's Concept

• Type of Bar : This includes the general category your bar falls into, such as a sports bar, wine bar, or cocktail lounge. Each type appeals to different customer segments and sets expectations for your offerings.
• Name of the Bar : The name should reflect your concept and be memorable. It should resonate with your target audience and give a hint of the experience they can expect.
• Location : The location plays a critical role in the success of your bar. It should align with your target market – for instance, a college bar might be near a university, while a high-end cocktail bar might be in a bustling city center.
• Theme and Ambiance : The theme and ambiance should complement the type of bar you are planning. This includes interior design, music, lighting, and even the type of furniture. It all contributes to the overall experience of your patrons.

3. Market Analysis

Conducting effective market research.

Effective market research in a bar business plan is the cornerstone of understanding your bar's potential market. Begin by gathering data on the local bars , including size, growth trends, and customer preferences. Utilize both primary and secondary research methods. Primary research might involve surveys or interviews with potential customers, while secondary research can include analyzing existing data and reports on industry trends.

Assess the local demographic and psychographic characteristics of potential customers , such as age range, income levels, lifestyle, and drinking preferences. This will help in tailoring your bar's offerings to the desires of your target market. Also, examine the local economic conditions to gauge spending power and leisure habits.

Identifying Target Demographics and Local Competition

Identifying your target demographic is critical for defining your marketing and operational strategies. Consider factors like age group, gender, occupation, and social interests. Are you targeting young professionals, college students, or a more mature clientele?

Understanding your local competition is equally important. Analyze other bars and nightlife establishments in your area to identify what they offer and what they lack. Look at their customer base, menu offerings, pricing, and promotional strategies. This will help you identify gaps in the market that your bar can fill. Assess their strengths and weaknesses and consider how your bar can differentiate itself from them.

4. Menu Design and Beverage Selection

Curating a drinks menu aligned with your concept.

Your drinks menu is a critical element that reflects your bar's idea, which is also an important part of a bar business plan. Start by deciding the range of beverages you will offer, such as craft beers, cocktails, wines, or non-alcoholic drinks. Each selection should align with your overall theme and appeal to your target demographic.

Consider developing signature drinks that can become synonymous with your brand. These unique offerings can set your bar apart and create a memorable experience for your patrons. Also, be mindful of menu design - an aesthetically pleasing and easy-to-navigate menu can enhance the customer experience.

Considerations for Product Sourcing and Staying on Trend

Effective product sourcing is vital for ensuring the quality and profitability of your beverages. Establish relationships with reliable suppliers for consistent quality and cost-effective procurement. Consider sourcing locally where possible to support the community and reduce supply chain expenses.

Staying abreast of industry trends is crucial in the rapidly evolving bar sector. Keep an eye on emerging trends in beverages, such as the rising popularity of craft spirits or health-conscious options like mocktails. Attend industry events, follow relevant publications, and join professional groups to stay updated. This will allow you to continuously innovate and keep your menu fresh and exciting.

5. Marketing and Promotional Strategies

Building a strong brand and online presence.

Creating a strong brand for your bar is essential in establishing its identity and attracting customers. Your brand should reflect your bar's idea, target audience, and unique value proposition. Start by developing a memorable name and a visually appealing logo that resonates with your target market.

In today's digital age, an online presence is crucial. Develop a professional website that showcases your bar's atmosphere, menu, and special events. Ensure that the website is mobile-friendly, as many customers will access it via their smartphones. Utilize social media platforms like Instagram, Facebook, and Twitter to engage with your audience, share updates, and promote events. Regularly post high-quality content that aligns with your brand's voice and aesthetic.

Pre-Opening Promotions and Ongoing Marketing Efforts

Before opening your bar, generate buzz and anticipation through pre-opening marketing strategies . Consider hosting a soft launch or a VIP night for local influencers, media, and potential regular customers. This can create word-of-mouth promotion and provide valuable feedback.

For ongoing marketing strategy, leverage both digital and traditional marketing channels. Email marketing can be an effective tool to keep your customers informed about upcoming events and special offers. Collaborate with local businesses and participate in community events to increase visibility. Regularly host themed events, happy hours, and special promotions to attract and retain customers. Monitor the effectiveness of your marketing strategies and adapt as necessary to maximize their impact.

6. Operational Planning

Bar layout, equipment needs, and operational hours.

The layout of your bar plays a crucial role in its functionality and customer experience. Design a layout that maximizes space efficiency while creating an inviting atmosphere. Consider factors like seating arrangements, the location of the bar counter, and the flow of customer traffic.

Your equipment needs will depend on your bar's concept and menu offerings. Essential equipment might include beverage coolers, glassware, a point-of-sale system, and appropriate bar tools for making drinks. Also, consider the need for kitchen equipment if you plan to serve food.

Determine your operational hours based on your target market and local regulations. For example, a bar in a business district might see more traffic during weekday evenings, while a bar in a residential area might be busier on weekends.

Importance of an Efficient Operational Workflow

An efficient operational workflow is key to providing excellent customer service and ensuring the smooth running of your bar. This includes everything from inventory management to staff scheduling . Develop standard operating procedures for daily tasks such as opening and closing routines, cleaning, inventory restocking, and order processing.

Train your staff on these procedures to ensure consistency in service. Implement systems for managing peak times effectively, such as a well-organized bar area and clear communication channels among staff. Incorporating advanced tools like 5-Out AI sales forecasting can significantly enhance your operational efficiency. This software aids in precise inventory management and staff scheduling optimization, adapting to your bar's unique trends and demands.

With 5-Out AI sales forecasting, you can predict future demand, even detail in each menu item, allowing for better preparation and resource allocation. It can help you anticipate busy periods, ensuring that your bar is adequately staffed and stocked, thus minimizing waste and maximizing customer satisfaction.

Regularly review and refine your operational processes to improve efficiency and customer satisfaction. Utilizing such technology not only streamlines your operations but also provides valuable insights that contribute to a smoother, more efficient bar experience for both staff and customers.

Book a demo of 5-Out today , ensuring your bar runs smoothly and efficiently.

7. Licensing and Legal Requirements

Overview of necessary permits and legal considerations.

Operating a bar requires adhering to various legal and regulatory requirements, which are essential for lawful operation. The first step is obtaining the necessary permits and licenses, which can vary depending on your location. Commonly required permits include a liquor license, business license, health department permit, and music licensing if you plan to play music.

Each type of license has specific requirements. For example, liquor licenses can vary significantly by state and locality, with different types for serving beer, wine, or spirits. It's crucial to understand the regulations in your area regarding the sale and consumption of alcohol.

Additionally, you should be aware of zoning laws, building codes, and fire safety regulations. Compliance with health and safety standards is also mandatory to ensure the well-being of both customers and employees. Consider consulting a legal expert to navigate these requirements effectively and ensure compliance.

8. Staffing and Management

Hiring and training the right team.

Building the right team is critical to the success of your bar. When hiring staff, look for individuals who not only have the necessary skills but also fit the culture and atmosphere of your bar. For bartenders and servers, experience, knowledge of mixology, and a friendly demeanor are key qualities.

Training is an essential part of staff development. New employees should be trained not only in their specific roles but also in understanding the overall concept of your bar. This includes training in customer service, handling difficult situations, knowledge about the menu, and understanding your point-of-sale system. Regular training sessions can keep staff updated on new drinks, menu items, and operational changes.

Managing Staff Effectively for Smooth Operations

Effective staff management is crucial for maintaining a high level of service. Develop clear communication channels and a hierarchy for resolving issues and making decisions. Scheduling staff efficiently is important to ensure that you are adequately staffed during peak times while managing labor costs.

Utilizing tools like 5-Out AI sales forecasting can significantly enhance your labor optimization strategies. By leveraging its advanced and accurate sales projections, 5-Out provides invaluable insights for labor scheduling, helping you align staff numbers with predicted customer volumes. This not only minimizes labor costs but also boosts both customer and staff satisfaction by avoiding understaffing or overstaffing scenarios.

Motivating and retaining staff is also essential. Consider implementing incentives for exceptional performance and creating a positive and supportive work environment. Regularly solicit feedback from your team and involve them in decision-making processes where appropriate. This can lead to improved staff satisfaction and retention, ultimately contributing to a smoother operation of your bar.

9. Financial Planning and Analysis

Creating realistic financial projections.

Developing realistic financial projections is a critical component of a bar business plan. These projections should include detailed forecasts of revenue, costs, and profitability over a specified period. Begin by estimating your potential sales based on factors like bar capacity, average spend per customer, and expected foot traffic. It's important to consider seasonal variations and industry trends in these calculations.

Next, outline your expenses, which will include both fixed costs (like rent, utilities, and salaries) and variable costs (such as inventory, marketing expenses, and maintenance). It's essential to be as accurate as possible in estimating these costs to avoid unexpected financial shortfalls.

Startup Costs, Funding Options, and Break-Even Analysis

Detail the startup costs for your bar, including expenses for leasing or purchasing a location, renovations, initial inventory, licensing, and marketing. Clearly outline the sources of funding for these costs, whether through personal investment, loans, or investors.

Conduct a break-even analysis to determine the point at which your bar's revenues will cover its costs. This is a crucial metric for understanding when your business will start to be profitable. The break-even point will also be a key figure for potential investors or lenders, as it indicates the financial viability of your business.

In conclusion, creating a comprehensive bar business plan is a multifaceted endeavor that requires attention to detail in every aspect. From understanding the essential licensing and legal requirements to managing your staff effectively, each component plays a critical role in ensuring the success of your bar. Implementing efficient operational workflows and utilizing advanced tools like 5-Out AI sales forecasting can greatly enhance your management capabilities, leading to optimized operations, reduced costs, and increased satisfaction for both staff and customers. By focusing on these key areas, you can build a solid foundation for your bar's success and sustainability in the competitive hospitality industry.

Book a demo with 5-Out today and discover how our innovative solution can transform your labor scheduling and inventory management, setting the stage for a thriving bar business.

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The essential steps to writing a business plan for a bar

So that's it. You're dead set on swapping your nine to five in for a fast-paced lifestyle of sleek countertops, jazzy music, and colourful cocktails. In other words, you've decided to open your very own bar. 

Although it's exciting, the road to opening a bar is a long and difficult one. To get the best chance possible, we recommend that you put your money on a business plan right from the start. Underneath its elusive exterior, writing a business plan for a bar is your clear path to success.

The main objectives of a business plan for a bar:

1. to find investors.

Not every entrepreneur has the capital needed to kick-start a new business without a lending hand from the bank.

To obtain all the resources needed to open your bar, you'll have to convince bankers to finance part of your project. In an uncertain economic climate, this is no easy task.

You'll have to use your business plan to prove the viability of the project and your own credibility as an entrepreneur. The business plan for a bar is the document, upon after reading, investors will assess whether their own values and ambitions align with those of your project - and consequently, whether they're willing to provide financial support. 

The business plan for a bar will also be used to facilitate credit and loan agreements, which prove useful in helping the business owner compensate for any unforeseen events that may impact the projected success of the business. 

In addition, a bar business plan is a valuable tool for convincing investors of all kinds, from family and friends to angel investors, and for obtaining aid from local authorities. 

2. To see the big picture of your business

The business plan for a bar is not only created for potential investors. Above all, it's addressed to you. Through the act of writing up the plan, you're obliged to understand, in detail, each aspect of your project in as realistic a way as possible.

The financial forecast for a bar  is the section that potential investors will be most interested in. However, a well-designed bar business plan should cover each of the following topics: 

• a description of your industry
• characteristics specific to your bar
• market research
• your pricing and marketing strategy
• your development plan
• your operational plan

Getting into the nitty-gritty of these sections will allow you to paint a clearer picture of what your business looks like - including the concept you've chosen for your bar , your resources, strengths, and weaknesses - to be able to adequately address any potential problems. 

You can use these details to reflect on your business as its plan is being drafted - and adjust it accordingly in your bar business plan. And don't think for one second you'll be able to throw it away once you've finished using it to present to investors. It should be viewed as the roadmap of your project and a document you consult regularly to ensure that things are operating as they should be. 

Is the bar market in trouble?

Since 2010, the number of bars in the UK has fallen from 55,400 to 47,200 in 2019. In fact, according to a 2019 Market Growth Monitor from CGA and AlixPartners, Britain experienced an average net closure of six pubs per day the same year. 

With an unstable economic climate and rising drink prices, increasingly people within the UK are opting to drink with their loved ones from the comfort of their own homes. It's fair to say that, in this context, the task of opening a bar is rather risky.

With the bar industry in deteriorating health, writing a solid bar business plan for a new bar has never been more important, as you'll be able to use your knowledge of the current climate and risks to draw up the most realistic project possible.

Thoroughly conducted market research will also show you that not all bars will be impacted by the same risks. For example, bars in more rural areas tend to be more resistant to closures than those situated in cities.

As a general rule, the bars that tend to hold up best are those that attract the under-25s and regularly offer their customers a range of drink promotions and themed nights. 

With this data in tow, you'll be able to design your dream project that best suits your location and ambitions, whether it be a pub, brewery, or cocktail bar. Want to know more about how to develop a popular bar business model? Check out our key factors for a successful bar here .

Need a helping hand with your bar business plan? The Business Plan Shop is here!

Now it's time to write the business plan for your bar. If you find this part of the process overwhelming, there are plenty of solutions to make things easier. 

Since not everyone has a strong accounting background or can afford to hire a consultant, we have developed software to enable you to easily create a business plan for your bar.

With our business plan software , you will be guided step-by-step (by clear instructions and examples) through the process of writing a plan, and get a professional document ready to be presented to your bank.

If you are interested in this type of solution, you can try our software for free by clicking here .

We hope that this article has convinced you of the importance of making a solid business plan for a bar to give your bar business every chance of success. If you have any questions about the business plan or about other aspects of your business creation project, do not hesitate to ask us.

Also on The Business Plan Shop:

• How to take over a bar
• Business plan template for a bar
• Open a craft beer bar

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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How to Write a Business Plan for a Bar

Building the right food and beverage operation starts with a detailed blueprint that runs through strategies, financing, and operations.

A well-crafted business plan is the foundation for any successful bar venture. It serves as a roadmap that outlines goals and strategies, helps navigate the complexities of the restaurant industry, and secures financing. The following information provides a step-by-step guide, from conducting market research to developing financial projections:

Executive Summary :

The executive summary is a concise overview of your entire business plan. It should capture the essence of your bar concept, target market, competitive advantage, and financial projections. This portion must grab the attention of potential investors and shouldn’t be longer than two pages, according to SharpSheets , a financial modeling platform. 

Description of Concept :

In this section, provide an in-depth description of your bar, including its name, location, legal structure, and the type of bar you intend to operate (e.g., sports bar, cocktail lounge). This is also the place to discuss your unique selling proposition, which should clearly state how the concept will be different and stand out among competitors. Toast recommends using this part to talk about labor and hiring practices, capacity for service, logos, color schemes, and what the environment will generally feel like. 

Market Analysis :

Coursera , an online learning platform, describes market analysis as determining a business’s target market and its competitors. Much of this research should involve statistical information around the actual size of the area where you want to place the bar, what prices customers are willing to pay, and what sales will look like. And in terms of qualitative data, the analysis should include guests’ values and motives, Coursera said. Additionally, there should be information on potential opportunities or challenges that may impact your bar’s success.

Organization and Management :

Make sure that whoever is reading your business plan understands the organizational structure of your bar. For example, provide specific background on who will run the venue and list their qualifications. Toast said it’s important to also include information on who will create publicity for the bar, like branding efforts, online and offline channels, social media plans, or potential loyalty programs. Expertise in the hospitality industry, bar management, and customer service should be a part of each team member listed. 

Products and Services :

Describe the range of products and services your bar will offer, and that means everything, said Square. Discuss your beverage menu, food offerings (if applicable), special promotions or events, and any unique features that set your bar apart from competitors. Square recommends going over product sourcing and what inventory management system will be used to monitor SKUs. Also, emphasize how your offerings align with customer preferences and market demand.

Operational Plan :

Detail the day-to-day operations of your bar, including opening hours, staffing requirements, staff training and development programs, customer service standards, and inventory management procedures. Discuss your suppliers and vendors, quality control measures, and any strategic partnerships you may have.

Financial Projections :

Present realistic financial projections for your bar, including startup costs, revenue forecasts, and expense estimates. Square said business plans should emphasize whether the venture will be self-funded, be propped up by investors, or paid for via small business loans. In addition, it’s crucial to include an income statement, cash flow projections, and a break-even analysis. Consider factors such as pricing strategy, sales volume, cost of goods sold, payroll expenses, and overhead costs.

Risk Analysis and Mitigation Strategies :

Identify potential risks and challenges that your bar may face, such as changing consumer preferences, regulatory compliance, or economic fluctuations. Outline strategies to mitigate these risks, such as diversifying your revenue streams, maintaining strong relationships with suppliers, and adapting your offerings to evolving market trends.

Conclusion :

Writing an informed business plan is a critical step in launching a bar. A well-structured and thought-out strategy not only demonstrates professionalism and commitment but also provides a blueprint for turning your bar dream into reality. 

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Mobile Bar Business Plan Template

Written by Dave Lavinsky

Mobile Bar Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their mobile bar companies. 

If you’re unfamiliar with creating a mobile bar business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a mobile bar business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Mobile Bar Business Plan?

A business plan provides a snapshot of your mobile bar business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Mobile Bar Business

If you’re looking to start a mobile bar business or grow your existing mobile bar company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your mobile bar business to improve your chances of success. Your mobile bar business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Mobile Bar Businesses

With regards to funding, the main sources of funding for a mobile bar business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan (hand it to them in person or email to them as a PDF file) and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for mobile bar companies.

Finish Your Business Plan Today!

How to write a business plan for a mobile bar business.

If you want to start a mobile bar business or expand your current one, you need a business plan. The guide and sample below details the necessary information for how to write each essential component of your mobile bar business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of mobile bar business you are running and the status. For example, are you a startup, do you have a mobile bar business that you would like to grow, or are you operating a chain of mobile bar businesses?

Next, provide an overview of each of the subsequent sections of your plan. 

• Give a brief overv iew of the mobile bar industry. 
• Discuss the type of mobile bar business you are operating. 
• Detail your direct competitors. Give an overview of your target customers. 
• Provide a snapshot of your marketing strategy. Identify the key members of your team. 
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of mobile bar business you are operating.

For example, you m ight specialize in one of the following types of mobile bar businesses:

• Beer or Tap Truck : A beer truck is simply a good-sized truck or van that is equipped to transport and sell beer by the glass from the truck. Often customized, beer trucks are easy to maintain and offer a variety of beer choices for customers. 
• Cocktail Cart Service: Used at upscale outdoor events or fundraising evenings, a mobile bar is one that can be transported in a truck or van and is designed to serve several guests with a variety of favorite cocktails produced on order. Some cocktail carts serve only champagne and a variety of champagne cocktails in specialty glassware.
• Full Bar Table: A wedding reception or fancy-dress dinner may call for a full bar table, which is typically transported by truck. A full bar table is usually built with a custom-made design on wheels, with a length of four to six feet, and is covered in elegant fabric. Offerings may include a wide variety of alcohol and mixed drink ingredients.
• Custom-made Mobile Bar: From a bathtub on wheels to a custom-fitted horse trailer, custom-made bars are showcased at casual gatherings as the center of attention. Often stocked with beer and wine, these unique, fun custom-made mobile bars are popular with all ages.

In addition to explaining the type of mobile bar business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of customers served, the number of mobile bars your business owns, reaching X number of clients served, etc.
• What is your legal business structure? Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the mobile bar industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the mobile bar industry educates you. It helps you understand the market in which you are operating. 

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your mobile bar business plan:

• How big is the mobile bar industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your mobile bar business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your mobile bar business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: wedding receptions, barn dance parties, corporate events, and college grad parties.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of mobile bar business you operate. Clearly, a wedding party seeking a full bar table would respond to different marketing promotions than those customers planning a barn dance, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers. Ideally you can speak with a sample of your target customers before writing your plan to better understand their needs.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are othe r mobile bar businesses. 

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes wedding venues with bars, cocktail lounges, and home parties with beer kegs. You need to mention direct competition, as well. 

For each direct competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of customers do they serve?
• What type of mobile bar business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide options for the uninsured?
• Will you offer products or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a mobile bar business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type o f mobile bar company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide more than one bartender for each cocktail bar? Will you offer a craft beer variety of ales and lager from your beer truck?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of yo ur plan, yo u are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your mobile bar company. Document where your company will operate and mention the general region and your scope of business. Mention how your portability and custom features will positively impact your success and add to the interest of potential customers who will bring in future business. For example, is your mobile bar business adjacent to a dance hall or nightlife area? Do you travel in a regular pattern throughout an area saturated with sports parks and outdoor venues? Do your customers know where to find you if you regularly cruise to several locations in one evening? Discuss how your mobile bar is perfectly situated to conveniently travel to your customer’s party site. 

Promotions : The final part of your mobile bar marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites 
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your mobile bar business, including answering calls, taking mobile bar reservations, restocking supplies and glassware, cleaning and maintaining your vehicle and mobile bar. 

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth mobile bar event, or when you hope to reach $X in revenue. It could also be when you expect to expand your mobile bar business to a new city.

Management Team

To demonstrate your mobile bar business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally, you and/or your team members have direct experience in managing mobile bar businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a mobile bar business or successfully running a restaurant bar.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance s heet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you book at least 5 mobile bar events each week, or will you offer snack foods for purchase with your beer truck to increase revenue?  And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your mobile bar business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. 

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a mobile bar business:

• Cost of mobile bar ingredients, barware, equipment and/or vehicle
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and other equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include the party bookings you have had in the last year or a list of potential customers reviewing your offerings and services.

Writing a business plan for your mobile bar business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the mobile bar industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful mobile bar business.

Mobile Bar Business Plan FAQs

What is the easiest way to complete my mobile bar business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your mobile bar business plan.

How Do You Start a Mobile Bar Business?

Starting a mobile bar business is easy with these 14 steps:

• Choose the Name for Your Mobile Bar Business
• Create Your Mobile Bar Business Plan
• Choose the Legal Structure for Your Mobile Bar Business
• Secure Startup Funding for Your Mobile Bar Business (If Needed)
• Secure a Location for Your Business
• Register Your Mobile Bar Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Mobile Bar Business
• Buy or Lease the Right Mobile Bar Business Equipment
• Develop Your Mobile Bar Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Mobile Bar Business
• Open for Business

Where Can I Download a Free Business Plan Template PDF?

Click here  to download the pdf version of our basic business plan template.

Our free business plan template pdf allows you to see the key sections to complete in your plan and the key questions that each must answer. The business plan pdf will definitely get you started in the right direction.

We do offer a premium version of our business plan template.  Click here to learn more about it.  The premium version includes numerous features allowing you to quickly and easily create a professional business plan. Its most touted feature is its financial projections template which allows you to simply enter your estimated sales and growth rates, and it automatically calculates your complete five-year financial projections including income statements, balance sheets, and cash flow statements.  Here’s the link to our Ultimate Business Plan Template.

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