Starting a new business is always a huge and scary step. There are a lot of things to think about, there are always going to be high and lows, failures, and success. If you want to take the risk and start building your own empire. Here are some of the things you need to consider before opening one.
Have You Created a Business Plan?
A business plan is essential to establish your business focus and to plan for the future. Creating a thorough and detailed business plan is going to secure your funding or apply for a loan. Moreover, a business plan can be your guide on how to operate your business. Your wine bar business plan should include an executive summary, your bar’s overview and description, market analysis, your business offering and management, and lastly, financial projection. If you secure this, you can proceed to the next step.
Do You Have an Attractive Concept, Brand, and Name for Your Bar?
Every day, there are a lot of food establishments and bars opening up all throughout the world. You have to make sure that you have an attractive concept, brand, and a name for the bar you will open. Your brand and concept will be the identity of your business. This includes symbols, slogans, basic information, and a unique selling proposition that will make you known and give you an advantage over your competitor. How would your wine bar like to be known? What ambiance would you like your customer to feel when they dine at your bar? This is very crucial, and you should make a distinctive identifier from other wine bar competitors.
In choosing a name for your wine bar, think about a unique and catchy name that will look good in everything it will be associated with. Picture it being on the signboard, menu, uniforms, and advertisement. Ensure that it is appropriate and not too complicated for easier brand recognition. Before registering, make sure that there is no existent brand name and trademark it right away.
Where Would it Be Located?
In choosing the location for your wine bar, there are a lot of things to be considered. Choosing a site cannot be undone, so you have to ensure that it is the right location before you get things started. Your location should be based on your target demographics. To explain it briefly, if your target market is business professionals, you should look for a location near business centers. Next is the visibility and access, it is important to look into highway and foot traffic. Will a lot of people pass by and see my bar? Can it be accessible to a lot of people? Will there be parking near my bar? If the answer to all of the questions is yes, then the location is suitable.
Another thing to consider is the competition in the area. If you are confident that your product and business can outsell your competitors, then you can position your business near them. However, you should check if it is feasible for your company to be in an area already saturated with bars. Lastly, familiarized with the health regulations and zoning in the area.
Are Permits and Licenses Ready?
Getting permits and licenses varies from one country or state to another. A license is required for businesses because it can identify your business and make you accountable for your actions. It will also protect public health and safety and help you track your finances for tax purposes. Some licenses you should obtain are liquor and food service license and business permit, occupancy certificate, and Employer Identification Number or EIN.
On the other hand, business permits are issued by your government to authorize you in conducting and starting your business legally. Some of the most important licenses required are a sign permit, music permit, and Certificate of Occupancy. You can ask for legal help to ensure that everything will be processed correctly.
How Would You Like to Design Your Bar?
The design of the bar is vital to any restaurant or hospitality business. It is as equally important as the food. The ambiance, decorations, design, and style. For example, Australians love a drink after a busy day at work, but with many wine bars around the country with different restaurant fitouts, Sydney citizens mostly prefer a place with a good ambiance so they can relax. So make sure you include a good decor that reflects your concept, a functional space that allows staff and customers to move freely, and an appealing design that creates a perfect dining mood and experience. You should not compromise between comfortability and aesthetics, as this can be done equally by proper research and the right contractors.
Are Your Equipment and Supplies Complete?
Serving wine is different from serving any other alcoholic beverage. You need to consider a lot of factors such as temperature and the glass you use, as they can alter the taste of the wine. For you to be able to serve drinks, you need to make sure that you have the complete and appropriate equipment and supplies. Here are some of the items you need:
- Wine Glass
- Drink Tray
- Ice bucket and Tripod
- Decanting Equipment
- Wine cloth
- Wine Opener
- Wine Cooler
Do You Have a Reliable Wine Supplier?
Research about the wine that you will be offering to your customer. Find a wine supplier that provides the wine that you have on your mind. If you want, you can also ask for wine samples to taste what you will sell. Some factors you need to look into when finding a supplier is Brand Selection and Variety, Price, Payment terms, Delivery Process, and Reviews. Ensure that you carefully select a supplier and maintain a good relationship with them. Your liquor inventory will determine how your wine bar performs. Make an inventory to monitor which selections are doing well and not.
After all of these steps are carefully followed and considered, you can now start advertising your wine bar! Entice your customers by having grand launching and promotions. Grand launching will be a good time to show your customer your products and services. Ensure that you make a good impression on every customer that you’ll have.