Top 5 Things to Keep in Mind, If You Plan to Start a Bar Business
Slowly all the restaurants have started serving mocktails and wine or have changed their names to “bar and restaurant”, for every small or big celebration is incomplete without clinking the glass of drink together in unison.
Future Market Insights recently published its study on India’s alcohol market, which estimated that more than INR 2.5 trillion worth of alcohol was consumed in 2016.
By the end of 2026, more than 14 billion litres of alcohol will be sold across India.
According to the report, revenues amassed from sales of alcohol in India will soar vigorously at 7.4% CAGR, and reach INR 5.1 trillion value by the end of 2026.
It has become a customary tradition being followed by the present generation leaving enough room for the startups and entrepreneurs to keep their bar business grow.
Here are top 5 things that make pubs and bars, one of the most profitable business:
To start a liquor business is not a joke, not anyone and everyone, who wishes to start, has easily succeeded in pulling a bar or pub.
Opening a bar or a pub is a painstaking, as well as an expensive affair, just the thought of setting up, will cost you around INR 2-10 crore.
Not everyone is capable of spending so much for this business when they can pick an easy way.
Responsibility for Business:
Doing business is not enough; you have to take care of the customer responsibly as well because there is no room for turning down customers.
When one is serving the drink, asked by the customer, one has to also take care of the ambiance, to not get spoilt by the drunkards or misbehaving with other customers.
There are times when youngsters below the age limit, families and ladies are also present in the bar, and one who has had enough of alcohol is most likely to go out of senses, where the bar owner and staff have to take care of such situations without losing the customer’s interest.
Ever ready for Bearing Losses:
Since your business deals with drunken people, who are often loud, short-tempered and delicate customers to deal with, which is why you have to keep your heart strong enough to bear the losses.
Drunken people tend to break plates, glasses, sometimes break fights inside the pub or bar and damage the interior as well as furniture, which are often disclosed hours after the guests are gone, so you cannot charge for your losses. Not everyone carries that big a heart on their sleeves and those who do, turn out to be extremely good in their profession.
Able to Handle Pressure:
There is always a tough competition going between the bar owners under the surface. When there are too many options available for the customer, it is difficult to make them come back to you again and again.
So bar owners and pub owners are always on their toes to bring the best to the table for their customers.
Bar owners and pub owners always try to keep their customer happier than the ones in the market, to let the customer choose you over others.