You might have been asking yourself this question, Is a bar business lucrative? Will starting a bar business bring me money? Do not be confused, a Bar Business is very lucrative and is something i can advice anybody that has the will to go for it.
Starting a bar business in Nigeria has been one lucrative business some people just don’t know. Bars generate much income on a daily basis as people who drink make it a culture to always take at least a bottle every day to keep their head high.
Heineken has it that so many Nigerians have increased their drinking habit despite the economic downturn. This is a plus for bar owners as they will continue to be in business no matter the state of the economy.
From what I’ve noticed around my community, the male folks tend to have a great time with each other when drinking and because of this drinking seems to be an activity that brings friends together.
Bars that are open till midnight have more sales than those that are open only during daytime. This is so because many people love drinking at night after working hours.
To experience success in your bar business you need to consider these tips:
The first thing you should have in mind when planning on coming to this line of business should be the location of the bar. Your bar should be located in a busy and visible environment where you can be patronized by many customers.
You should have a spacious bar and serene place for customers that would want to drink outside.
The kinds of drinks that you sell also affects the number of customers you have. This is so because if you are selling a brand of drink that many people do not like, then you are likely going to lose your customers to the next competing bar that has the type of drink that many people are looking for.
Price of drinks
This is another sensitive and important thing to note when considering starting a bar. How you sale your drinks will have a great impact on your customer base. As a starter, you have to lower your profit limit and try to build up the number of customers you want.
Some beers sell for 250 naira per bottle, and some for 300 or 400 depending on the company.
You can choose to give out promos during festive seasons. You will realise that the more people buy from you the greater your gain.
To be on the safe side when you have power outage during the day or night, you need a powerful generator in your bar. You need a generator that will be able to power your freezer. You will not want to sell drinks that are not cold as beers are always served cold.
Having a barbecue in your bar is another way of making additional money to yourself and also a way of attracting customers. A bar business is not complete without a Suya, Sharwama or Grilled chicken spot. This is what will motivate customers to always come out to your bar to chill in the evening.
Selling things like cigarettes and cigars also have a way of making a bar have more customers. Some people choose to go to bars where smoking is allowed.
When starting a bar business, having music in place will make the bar lively. Music triggers relaxation and the joy music brings will allow for more bottles to be drank. Your bar should not be dull, you need to spice it up with latest songs for maximum enjoyment of your customers.
You need to be alert and know the latest songs. Services of a DJ or live band can also be subscribed to so that your bar does not lag behind.
Hire more hands
A standard bar should have a bartender, this will make it easier when serving customers. Without additional hands, you will be left alone to do all the cleaning, stocking and serving.
When starting a bar business, employ someone to help you out with some of the work in the bar. Advert placement might be helpful.