I've been reading a book about running a bar.
I'm interested in this idea, of opening the Brodie Ln. Tavern. Mike calls it the BLT. I think that it would make someone a lot of money. The more I read about it, the more I believe in it. Initial cost / price scenarios look good. There are some problems though:
- High cost of failure. This is a comparatively risky investment, at least if you pay heed to warnings which suggest that a high percentage of new business fail in the first year. Don't want to get stuck owing an assload of money.
- How do you balance the time required to do this with a software design job & the other ways that you want to spend time? This would end up consuming all possible free time for the next... 30 years. Is that a good use of the rest of your time?
- I've never worked in a bar. Seems like I should work in a bar for a while before trying to enter that biz. Don't think it would be that hard, but I would have to hire to agressively compensate for my lack of experience in this area.
As I continue to read 'Start and Run a Money Making Bar' by Bruce Feir, I will no doubt have more boring thoughts to share on this matter...