Owning a club

[Cuts]

What do y'all think about opening a new bar/lounge/club? I realize the risk is high and the success rate is low, but for those clubs that do become successful, how do you think the owners fare, profit wise? I personally don't know any club owners so I really have no idea.

Input appreciated bros.

 

[Cuts]

Alright dudes. Here's the deal, I'm considering teaming up with a few colleagues, recruiting some investors, and opening up something here in d-town Chicago within the next 1-3 years. The mark up for selling alcohol is the highest there is. Thus, logic would dictate that owning a lounge would be highly profitable venture. I'm seeking some anecdotal evidence for this.

Input? Opinions? Thoughts? Please ?

 

[dork]

My best friend is looking into doing this in the NYC area. It's a VERY risky business (of course he is convinces he will be a millionare)

You are gona need investors, real estate brokers, etc...

Good luck

 

[HulkRow]

it seems easily on paper, but you gotta hook up your ads, bouncers/ djs/ building/ premits..

unless your doing one of those "under-the-table" tax free rent-a-building type things ($$$)

 

[Lostdog]

Have fun trying to obtain a liquor license in Chicagpening a club is very High risk.For every 1 that opens 3 close the doors.Most investors are not willing to throw their money to people with no experience.Especially when it comes to nightclubs.Not to mention it will cost a couple mill.$$

 

[Cuts]

Good info. A couple mill start up huh? Shit. That might pose a small problem ...

Are they profitable though?

 

[Slugfast]

My dad opened a few night clubs in the Myrtle Beach area, and they have been pretty successfull, but as with any seasonal place, it is hard to keep up business during the off season. I believe that is not too big a problem in the Chicago area though. But he took a few cuts on it for the first 5 or so years, and has now recouped his investment, and has been steadily making some easy side money (as an owner), recieving a yearly check in the mail that is quite substantial.

If I was you, I would realize that you will not see any profitable gains, but breaking even, for the first couple of years (probably about 1-5 years), it just depends on one thing PUBLICITY.

Do alot of radio ads on the type of demographic stations you want, ie if you don't want a thugged out crowd, watch on the hiphop heavy stations, and if you want an older crowd, hit up the classic rock crowds and all that.

Also keep in mind that College kids will always spend money on alchohol and are always interested in the next hot club, so do alot of College specials, ie free admisison with a college id, or drink specials on Natural LIght.

If you want any more detailed info, PM me, but I dont' want to post alot over the net.

 

[Cuts]

Excellent info Slugfast. I'll be in touch in the near future... thanks.

 

[clubhead]

let ladies in for free and make up for their admission charging the guys a little more....if it is a club, cater somewhat to bachelorette parties and have a vip are for groups....also, make it a pretty classy place...have bouncers dress up in more then black pants and a black t-shirt and have very clean bathrooms....classy places keep the trash away, or at least make the trash be more respectful and dress more respectful (not saying not to let people in with jeans and diesels, because jeans and diesels can look really nice) or they will be under the threat of not possibly getting in the club, know what i mean....class draws less attention from authorities and overall is a better for everybody...

 

[Vulgar_Display_Of_Power]

or drink specials on Natural LIght.