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You will revise your business plan a lot, because the more you work on it, the more you’ll see what will work, what should work, and what you need to forget about.Once you have your business plan in order, and it’s financially sound, scout out a location.
You’ll need to consider items like parking, size, logistical flow within the space, local and city ordinances, amount of renovation needed, rent, atmosphere, terms of lease or purchase agreement, and many other items we don’t have room to dive into individually here.
The contacts that you made while in your exploratory phase can help you here. Opening a business like a gaming lounge means engaging with the local bureaucracy, which takes both time and money.
They gave me advice and taught me a lot about profit margins and the day-to-day workings of the industry.
What works in Milwaukee probably won’t work in Seattle, and so on.
Figuring out how to obtain startup capital could be the topic of a whole other article, but the important part is using your business plan to show you what you need to do to make money, what you might want to do if you make enough money, and what they market is telling you to not do.
Do you charge for those Smash Brothers tournaments?Ready to play video games, drink, oh, and work really hard? This article serves as a basic template on how to do just that.This is the fun part, where you brainstorm concepts with friends and family.Pro tip: Do not — whatever you do — sign a lease for the first place you see. You’ll need to work with your local city officials — including health inspectors, plumbing, electrical and construction inspectors — and dozens of other individuals to get to the point where you can open your bar.Also, get a good lawyer to review any lease documents before you sign them. This is the first place where a business plan pays off.It can help you claim share in your market, but you should also be OK with emulating successful elements of other bars and restaurants.The best way to learn about the bar business is to get a job as a bartender.When I tell people I own a geek bar, they get very excited for me. “You get to hang out, drink, and play video games all day!” I do get to do those things (though not as much as I used to), and I’m lucky to have a great community that supports us, but it took a lot of hard work to get where we are today — where I am still doing a lot of hard work to make it look like I’m not.I had a recent hearing for a new location and, not only did we not have anybody opposed to us, we had several members of our awesome community come out and support us, which meant a lot to me and to the people at the meeting.Being the owner of a gaming lounge is a lot of fun.