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What is a rough estimate of how much money it takes to open a bar?
The location would be a suburb in the Midwest. The theme would be a sports bar with a limited menu.
voted interesting: buddawiggi
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Did you want to start from scratch?
I hope not that could be far more expensive.
You said "midwest suburb" so I looked for a Sports bar and "limited menu" grill in the area around Terre Haute, Indiana, hope thats ok.
This one is for sale with everything you need including an established clientele for $129,900
http://terrahaute.craigslist.org/bfs/1183903352.html
Purchacing the business will be just on expense of many.
1. You will need to have a cushion of business cash or credit to operate on until your settled and profitable.
http://www.allfoodbusiness.com/financing_business.php
2. You will need to be able to pay youself at least enough to survive until profitability.
3. You will need liability insurance, this could get expensive and rates/requirments vary by state.
http://www.nationwide.com/restaurants-insurance.jsp
4. You will need to be able to pay your employees and the necessary workmans compensation/unemployment insurance on them.
http://www.workmanscompinsurance.net/
5. Pay the money for an accountant. It's harder than it seems.
6. If I could start over, many headaches could have been avoided with the simple solution of more cash or credit. I opened a small restaurant in Feb. 1999 we were closed in June of 2004.
7. Have a source of cash for emergencies and have a plan B.
8. Good Luck!
9. $250,000 to answer the question.
I hope not that could be far more expensive.
You said "midwest suburb" so I looked for a Sports bar and "limited menu" grill in the area around Terre Haute, Indiana, hope thats ok.
This one is for sale with everything you need including an established clientele for $129,900
http://terrahaute.craigslist.org/bfs/1183903352.html
Purchacing the business will be just on expense of many.
1. You will need to have a cushion of business cash or credit to operate on until your settled and profitable.
http://www.allfoodbusiness.com/financing_business.php
2. You will need to be able to pay youself at least enough to survive until profitability.
3. You will need liability insurance, this could get expensive and rates/requirments vary by state.
http://www.nationwide.com/restaurants-insurance.jsp
4. You will need to be able to pay your employees and the necessary workmans compensation/unemployment insurance on them.
http://www.workmanscompinsurance.net/
5. Pay the money for an accountant. It's harder than it seems.
6. If I could start over, many headaches could have been avoided with the simple solution of more cash or credit. I opened a small restaurant in Feb. 1999 we were closed in June of 2004.
7. Have a source of cash for emergencies and have a plan B.
8. Good Luck!
9. $250,000 to answer the question.
source(s):
Been through it.
Been through it.
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