Anyone own/run a club or bar?

[younger brother]

Hi guys- this is my first post here, and if this topic would be more appropriate in another forum I apologize!

Basically I’m looking to get advice from those of you who may own/run a club or bar. You guys have my dream job! Some info on the matter would be great, i.e., do you like the job? How did you get started in the business- promoting concerts? did you get a loan, have friends in the business, buy an existing club or create a new one etc.? What kind of bar/club do you have?

I have no idea how this works or the first step to take (I have a degree in Psychology- no business experience). Perhaps my first step should be to get an MBA?

About me: I’m from Boston (have only been here for about a year) and feel that there is a huge lack of good psytrance in the area. Considering the large number of college students in this city (BU, BC, MIT, Harvard, etc.) I think this area could really benefit from a good psytrance club (and a good club in general). Granted, Boston is somewhat limited by its 2am policy (no alcohol served after this point), but it’s fun to dream…

Anyways, any advice would be great!

 

[spork]

I'm going to move this over to Education & Careers

 

[PottedMeat]

I have five really good friends that own and have owned fairly nice clubs/bars.

Bar no. 1: three of my friends went in equal partners. They did not contribute equal amounts of capital. Dude 1 put up 50% of the initial Capitol. The "money man". Dude 2 put up 25% and actually worked at the bar part-time. Dude three put up the remaining 25%. He was the manager and worked his ass off.

The complicated part is dividing the profits and setting aside working Capitol for expenses and growth funding. I drew up the partnership agreement and it was quite a difficult task.

The place blew up (in a good way) in the first year big time. It was a sports themed bar capacity of 500. It was a great location.

The hard part (of a million others) was obtaining the liquor license/beer permit. Its a time consuming feat going before the city counsel. It takes three readings prior to passage if a liquor license is available. We had to buy one from a prior owner. Seems like it was $120,000 & change. The person who has their name on it must have a spotless record in many areas.

Ill have to pick up later dude.

 

[Cyc]

No personal experience, but I do know one thing. It's risky.

The public is fickle when it comes to its entertainment. Your bar or club could turn into a watering hole overnight despite your best efforts.

Location, location, location and I'll throw luck in there for good measure.

 

[whyterabbit]

after reading your post, i agree with the above, and also want to point out to you that often clubs that have a focus on electronica will get a little more flak from the public than your average awful irish pub...simply because of the instant connection that most people make, 'electronic music = drugs'.

if you're really into psytrance, it would be a lot, lot, lot easier to start by throwing parties. that can be done with a pretty reasonable amount of venture capital and will teach you some of the ropes of how to manage a music-related business, maybe give you a taste of what you'd be in for owning your own club. plenty of people with no college education have thrown some amazing, memorable events.

i like to think i know a little about putting on an event, you can PM me if you want some details...it's long and boring, really.