I am planning on opening a bar, and I have no idea how long should I be prepared to work without profit? Nothing too big, but in great location with cheaper drinks

  • cassiuswright@alien.topBEnglish
    1·
    11 months ago

    Average is 3 years to show profits. It is one of the hardest things you can attempt. I am a hospitality consultant and always tell people to make a complete business plan and then double whatever amount of money you come up with as startup costs. Feel free to DM with specific questions

  • conzola@alien.topBEnglish
    1·
    11 months ago

    A bar, a pretty long time 3-5 years all going well, you can take a liveable wage whilst still paying debt down. Fist, work backwards, get you cost of doing business dialed in, rent, power, wate,r rates, licencing, wages, stock,etc etc and then at least have a monthly break even figure. Guess your average patronage and spent, adjust margins to suit your ‘is it worth it?’ profit margin

  • ChivvyMiguel@alien.topBEnglish
    1·
    11 months ago

    It really depends on a lot of factors, let me say this though… if you’re kind to yourself, you can set a time and follow it. For example set a goal of say a year and reflect your spendings on that to meet your goal. Hope this helps!