Setting up Your own Cocktail Bar
For many people in the hospitality industry, managing a cocktail bar in a prestigious location is their ultimate aspiration. In addition to the images of glamorous, celebrity-filled nights that these businesses summon up in our minds, cocktail bars have several advantages over other types of establishments. At the high-end of the market – a target for many cocktail bars – people are willing to pay more for a premium experience. This means that a successful cocktail bar is potentially more profitable than other establishments.
Of course, creating a premium experience comes with its own challenges. First, service in premium environments is more difficult – product offerings tend to be more bespoke, requiring a deeper product knowledge and demanding a high degree of professionalism from staff. Second, the costs of offering a high-end product tend to be higher, so planning becomes critically important.mobile cocktail bars
The hospitality industry offers endless opportunities – everyone has an idea, and everyone is looking for the resources to make their idea come to life. That is where proper planning comes in. The most important thing you can do when planning your cocktail bar involves defining and understanding your target market. This can be challenging, and it is one of the areas that we often help our clients with. You should try and be as specific as you can. Not only will this focus your efforts, but it will also help you avoid the common mistake of investing far too much in product that doesn’t sell. We have all seen the huge number of bottles on display behind the bar – but how many of those are actually of interest to your target market?
(TIP) Opening – The best times to open are during “buzzing seasons”, or in the Autumn when you can build bookings for Christmas. Try to avoid opening your bar during holidays or the summer months – of course, not everyone has that choice!