Answers in a nutshell -
And SMS was not far off anyway ..
Shark. wrote:
I'm thinking about setting up a bar in Singapore , simple design , just Pool , Music and of course the bar itself ...
Well, that about sums up 99% of the bars- what is your differentiator ?? And in my few years mopping floors in bars, there is a trade-off - pool table occupies space, and that space can be used to put more tables / seats .. And the prime winner is location, location, location and location ..
My questions are simple , I understand the idea has been used a million times over in Singapore , i would obviously personalize my bar but no thought have risen on that yet.
You need to fix that first, as the 'concept' - even if it means no-frills, should be fixed and workable - not change on the fly .. and the music too - rock, pop, RnB, country, soul, blue-grass .. there is no one size fit all, except those bars that caters to the Sunday Drinkers in a few certain locations where any music goes ..
I understand that you guys are very knowledgeable when it comes to things like this so i'm asking for advice and opinions.
Dunno about the others, but as a newbie - I AM FLATTERED MATE
1. Do you think it's a profitable idea ? ( obviously depending on the location).
Somebody told me - to start a bar, take 50,000 $ and flush it down the toilet, and then if you feel no remorse, do it again, and if you still don't feel bad - you are ready to start one ..
2.Are there any age restrictions on Permits such as Liquor and food ? ..
Yes, the Police Licensing is very strict for liquor, and enough bars have been planned, furniture bought, and credit established with suppliers, and with a missing license, had to call in the liquodators .. I know a few personally
Food - NEA needs to check the premises, and certify it as well.
e.g Are people under the age of 20 likely to be accepted?
You are kidding right ??? don't tell me you are in your teens ??? Pray, legally speaking, if you are caught inside a bar with or without alcohol in your hand, you can still create enough trouble for the licensee - now how would you run a bar if you can't even be inside ??
Also , i will probably be bringing in a partner/investor in the business, and they are Singaporean citizens.
Good idea - spread the losses ..
I'm looking for open thoughts, Advice and opinions on the matter, and please do tell it like it is , the truth is sometimes harsh.
Ok - here I go - I have worked for about 3 years plus in bars, invested in a bar that went belly up in 3 months and lost about 30,000 $ and now limit myself to an occasional drink in the bar - though my dream of an ideal bar still floats around once in a while.
If you want to start one - you should go at a start up capital of atleast 300,000 or more - considering average rental for a decent place can set you back atleast 15,000 or more, and you need to bunk in 5 months rental as standby, and then put up money for suppliers, and add in the furniture, that is not a bad number - and remember: the more you dump, the more you need to make sure your place is filled - the smaller it is, the lesser stress you have ..
Most of the successful bars started off at 300,000 or higher as initial: those below that - yah, they do run, but it is a hand to mouth existance, and a continuous downpour or a government remark that the economy maybe going downhill is enough to keep customers away ..
I personally am close with a few bar operators - more than as a customer - and wouldn't mind doing a reference - but the key thing in bars is - you got to have money to make money. A rare few started small and grew big. Most started big and became medium / small - unless there is some xyz affair to keep dumping money or it is OPM (other people's money)
Final word: YOU NEED TO BE DAMN FREAKING LUCKY AND LUCKY LIKE HELL TO MAKE IT IN THE BAR BUSINESS
I MEAN LOADS AND LOADS OF LUCK ..
Cheers
