Post #666967 by christiki295 on Mon, Feb 11, 2013 8:15 AM

On 2007-08-04 07:45, christiki295 wrote:
Make sure you factor the cost of insurance.
Patrons drinking and tripping and falling may eventually file a claim.
Even if it is not a legit case, you need to have defense costs prepaid.

One cannot emphasize enough having a business plan . . .

Also, claims will be made arising out of bar fights, whether from injuries sustained due to insufficient security, or over zealous security. Probably all bogus, but better to have insurance than to pay for defense counsel instead of from out of your own pocket.

I cannot agree enough with the business plan recommendation. It is a business, not a hobby.

With that said, a busy bar can generate a lot of cash, which I hear is virtually tax free.

[ Edited by: christiki295 2013-02-11 08:17 ]