I want to start a sports bar?!

Best Answer - Chosen by Voters

No you don't.

Work through all of the financials to figure out what your total startup and operating expenses will be (for equipment, signage, marketing, paying staff, licenses, insurance, rent, utilities, etc.) Make sure you're starting with at least 6 months of operating expenses beyond just your startup costs. Plan the whole thing out (design, menu, pricing, etc.) Try reaching out to your local liquor reps and let them know you're getting ready to open a bar - see what they can tell you, they might be able to give you some basic pricing, just so you can start making calculations.

Then, work backward. If you see your total expenses will be $8,000/month, then you know you need that much in profit to break even, then you can figure out how many drinks you need to sell, at an average profit of (whatever amount, let's say $1.) Figure out how many drinks the average person has in a visit, (let's say 4) and now you know how many visitors per month you need 2,000 visitors per month to make your 8,000 profit. (these numbers are likely nowhere near the real numbers, but just to demonstrate.) Anyhow, once you get to that point, then you can consider whether your place can be made into a reality, or whether you need to go back to the drawing board and rethink some things.

Another key item: start looking into what the possibilities of getting the proper liquor license where you want your bar are. In some places, you have to wait until one closes to get one. In others, you need to brown-bag a couple tall stacks to a local government official to get the license approved. In some, they're just happy to have a business opening, you pay your license fee, and you're good to go.

I guess my main point is, just don't rush, that's just a small start to what you need to do and consider. Take your time, think it all the way through, and keep refinining your plans until its fully polished and ready to be implemented.

Yay