Bar Business Plan Template
If you want to start a bar business or expand your current one, you need a business plan.
Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their bar businesses.
The bar business plan template below has been designed to help you write your own business plan more quickly and easily than ever before. We hope this template will provide you with all of the information that you need to get your bar business off the ground and running as smoothly as possible.
Bar Business Plan Outline
In this article, we’ll go over how to write business plan for a bar. Below are links to each section of the bar business plan:
Bar Business Plan FAQs
Growthink's Ultimate Bar Business Plan Template allows you to quickly and easily complete a business plan for your bar. This template includes all necessary sections of the traditional business plan allowing you to quickly and easily complete your business plan for a bar.
You can download our bar business plan PDF template here. This is a business plan template you can use in PDF format.
A business plan provides a snapshot of your bar business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
The business plan is also your chance to show potential investors how you intend to make revenue in your bar or pub. This type of bar business plan can also be used to convince banks that you are capable of running a bar, and that the bank should lend you money.
Yes! In fact, starting a business without a business plan is one of the biggest mistakes small business owners make. A bar business plan will help you start your bar on the right foot by laying out your objectives, how to achieve them, and what you need to do to get where you want to go.
It will take approximately 30-45 hours to write a bar business plan, but this depends on how much information you already have and how detailed you would like each section to be.
Growthink's Ultimate Bar Business Plan Template makes it easy allowing you to complete your business plan in less than 1 day! It contains the core information about the bar industry and guides you through the necessary information to create a winning plan. Our bar business plan template can help you develop your full plan quickly and successfully.
An executive summary (1-3 pages) is your chance to show investors how you plan to make money in your business. Your bar business plan should include more detailed information about every aspect of your business, including market analysis, management team, marketing strategy, financial plan, and competitive comparison.
A marketing plan is part of your bar business plan and should include information about how you will promote your bar to potential customers. A marketing plan will often contain specific details about your target audience, how you intend to reach out to them, and how to keep your business competitive.
A bar business plan should be anywhere between 10-30 pages long, depending on the complexity of your bar or pub. Make sure you can clearly explain what makes your bar unique before moving forward.
Your bar business plan should include as much detail as possible about your bar, including background information on how it came to be and your business strategy. This will help you attract investors who want to learn more about what makes your bar stand out from the competition. Market research, financial plan, sales projections, and management team bios are also important aspects to include in your business plan.
No! When you order a bar business plan template through Growthink, you get access to our vast network of expertise that was used to create our proven template. Growthink's bar business plan template is designed to give you clear and easy-to-follow instructions about how to write a business plan for your bar.
If you’re looking to start a bar or grow your existing bar you need a business plan. A business plan is an essential part of the business planning process and will help you raise funding, if needed, and plan out the growth of your bar in order to improve your chances of success. Having a bar business plan will help you stay on track with your goals and the direction of your bar/pub throughout the year. Your bar business plan should be updated annually as your business grows and changes.
To launch a bar business, it is estimated that you'll need between $100,000 and $825,000 in start-up expenses, depending on your physical location and lease or mortgage expenses. This is the amount required for you to open for business, including start-up expenditures such as licensing fees, leasehold improvements, and equipment purchases.
Bars are usually funded through small business loans, personal savings, credit card financing, and/or angel investors. If your bar is a part of a larger restaurant or franchise, you may be able to receive funding from them as well.
A bar is a place where alcoholic drinks are served over the counter. It may be a pub, tavern, sports bar, or an establishment that serves mixed drinks such as a cocktail bar or wine bar with meals and entertainment. Bars often serve only beer, wine, and liquor through a bartender, though some also have staff capable of mixing classic cocktails. To get started on your bar business, first, decide what type of establishment you want to open, then follow the steps below:
- Write out a business plan for your bar. This will help you stay on track with your goals and the direction of your bar/pub throughout the year.
- Market research is key when it comes to starting or running a successful bar/pub. Make sure you understand your target market including how your customers think, what they want, and how you can provide it for them.
- Find an excellent location for your bar/pub. A good location will help build buzz about your business, make your establishment more accessible to customers, and give you a steady stream of income.
- Make sure to assemble the best management team possible for your bar/pub before opening day arrives. This ensures that your bar/pub will run smoothly when it first opens.
- Set up all your systems before opening day, including payment methods, inventory management, job descriptions for each employee, and so on.
- Choose a business name for your bar/pub that will help you stand out in the area. This can be based on unique aspects of the bar/pub, such as locations and decorations.
- Choose a theme for your bar/pub that will attract customers to your establishment. The theme should be reflected in the drinks you serve, the music you play, the decor inside your bar/pub, etc.
- Grand Opening! List all of your bar/pub’s daily specials and encourage customers to get involved in your business.
- Promote your bar/pub through social media, flyers, etc., to get the word out about what you have to offer. Make sure you post regularly so that customers can see how frequently new things are happening at your establishment.
- Hold special events to add excitement and draw in new customers. You can do this through live music, karaoke nights, trivia competitions, theme parties, etc.
- Keep track of your inventory and how much you’re using at all times so that you have a good idea of how much money is going out vs. coming in. You can do this with software or by utilizing an excel spreadsheet so you know how much of each item you have on hand at all times.
- Keep up with trends in the bar business, especially when it comes to decor and drink selections. This will help keep your bar/pub exciting for customers while staying efficient enough that it becomes a sustainable business.
Learn More: How to Start a Bar
Owning a bar/pub can be very profitable for the right person with the right management skills. However, owning a bar is expensive and time-consuming. Before you start your own bar/pub, make sure to weigh all of your options carefully so that you can ensure long-term success.
Your bar/pub’s profits will vary greatly depending on a variety of factors. These include your location, bar theme, drink prices, marketing efforts, customer interest in the business, and more.
A bar can be a limited liability company (LLC), a partnership, or a sole proprietorship.
Creating a successful bar/pub comes down to understanding how your customers think, what they want and how you can provide it for them. Downloading our bar business plan template will help you get started on the right track to make your bar business dream a reality.