The positive and negative of opening up a bar style establishment?

[UberEatsDriver]

drop some gems for me please. As you can see I live in NYC.

Also what are some licenses you need?

I’m on my business knowledge now so I will be making a thread here and there about different ownership opportunities.

 

[Dolla$]

Bro good look dealing with the NYPD

 

[UberEatsDriver]

Bro good look dealing with the NYPD

Yea I guess that’s true if I’m in a gentrifying hood or cac hood. I would be looking more into areas like Flatbush/East Flatbush or some spot in Queens.

 

[Ghostface Trillah]

Liquor license and rent are probably going to be your biggest expenses.
Liquor costs will vary depending on different factors.
You will definitely need insurance
I think that NYC is one of the places that makes all bars serve food so you might have to account for food storage and food prep certificates

 

[Cynic]

drop some gems for me please. As you can see I live in NYC.

Also what are some licenses you need?

I’m on my business knowledge now so I will be making a thread here and there about different ownership opportunities.

• High staff turnover
• Security liason liabilities
• Liquor licensing

There are better businesses out there.

 

[UberEatsDriver]

• High staff turnover
• Security liason liabilities
• Liquor licensing

There are better businesses out there.

What are some better businesses?

I do have a vision of opening a restaurant but first I’m trying to master the food I want to serve.

 

[phcitywarrior]

What are some better businesses?

I do have a vision of opening a restaurant but first I’m trying to master the food I want to serve.

Not to dissuade you, but restaurants are some of the most flimsy businesses to open. If you can't turn a profit in 6 months then it's curtains.

A bar/club can work but you have to capitalize on the "newness" factor. Let me explain.

My uncle owns some clubs/lounges/restaurants in Nigeria. He'll open a new club e.g. Lux at location A. Lux will be like the hottest club in town until he opens up Viper at location B. All the people from Lux will migrate to Viper for a while until he launches a "new" club e.g. Truth at Location A. Rinse and repeat. Same management, same locations, but different branding that capitalizes on the "newness factor".

You could do the same thing with a restaurant where you start a holding group which rotates different offerings at a specific location. From Jan - Jun it could be Afro-carribean fusion, then Jul - Dec it could be Afro-latin fusion etc. With restaurants the big thing is good food and newness, especially in a city like NYC where you're spoiled for option.

I will say this, however, if you can identify a niche that hasn't been well served, you could eat well.

Buka home

That's a spot in NYC that I'll have to try next time I get to BK. A lot of Nigerian restaurants I've been to are just to "local" and haven't really invested in the atmosphere aspect of the restaurant.

 

[UberEatsDriver]

Not to dissuade you, but restaurants are some of the most flimsy businesses to open. If you can't turn a profit in 6 months then it's curtains.

A bar/club can work but you have to capitalize on the "newness" factor. Let me explain.

My uncle owns some clubs/lounges/restaurants in Nigeria. He'll open a new club e.g. Lux at location A. Lux will be like the hottest club in town until he opens up Viper at location B. All the people from Lux will migrate to Viper for a while until he launches a "new" club e.g. Truth at Location A. Rinse and repeat. Same management, same locations, but different branding that capitalizes on the "newness factor".

You could do the same thing with a restaurant where you start a holding group which rotates different offerings at a specific location. From Jan - Jun it could be Afro-carribean fusion, then Jul - Dec it could be Afro-latin fusion etc. With restaurants the big thing is good food and newness, especially in a city like NYC where you're spoiled for option.

I will say this, however, if you can identify a niche that hasn't been well served, you could eat well.

Buka home

That's a spot in NYC that I'll have to try next time I get to BK. A lot of Nigerian restaurants I've been to are just to "local" and haven't really invested in the atmosphere aspect of the restaurant.

I have yet to try African food other than Ethiopian. Luckily for me there is a new Nigerian Spot named HoneyBee that opened up in Canarsie. Food looks good. I am also making sure I attend the Jollof Rice festival in the DMV as well.

But you are spot on about the club life. It looks like hard work that has to be met with whats "IN". Perhaps Ill stick to the restaurant business. I am Haitian American and I do think the Haitian community in NYC does a poor job at attracting others when it comes to their food for many reasons "(Poor signage, language barriers, seems the goal is to only entertain their community etc).

There is a Haitian spot named Chloes Lounge which draws all type of people and that is the type of Haitian spot that I want. Also I am looking to have that one item on the menu that could be a top seller at the restaurant.

For example there is a Jamaican franchise in Brooklyn called "Blue Mountain", and they are known for their Honey Jerk Chicken which isn't served by any other Jamaican franchise in the borough.

 

[Cynic]

What are some better businesses?

I do have a vision of opening a restaurant but first I’m trying to master the food I want to serve.

Anything in services which gives you a great margin ....

If you still want to get into the restaurant business then watch the 2 videos below in full.

It will give you a real insight into WHAT THE EXACT CHALLENGES ARE in this business