Factors to Consider When Choosing a New Bar Location - Essay Example

Factors to Consider When Choosing a New Bar Location In real e location is one of the most important rules and should be strictly adhered to. As a potential bar owner, he or she must choose a location that fits into the patrons and the business to be able to meet the goals. It is important to note that not every space that comes along serves the right purpose, what this means is, not every space is right for a bar. A good bar location is not easy to locate, and the best locations are always expensive. Cost is an important factor because, as an entrepreneur who hopes to start a bar, you get what you pay for. Therefore, there is a need for extra creativity because one can save more funds. When picking a site for opening up a bar, location is everything. But the factors that constitute a prime location are varying to different individuals (Blog.foodservicewarehouse.com). Most people will take a look at the current real estate market and find potential areas in one of the following ways. Speculation of a turnaround; some people choose to be prospectors and start their bars in areas that are yet to become popular. Prospectors pay less rent, but they will not have a built in customer base. They will, therefore, spend more on advertising and marketing to bring in the clients. People who start a bar in an area that is not trendy will have to wait longer to realize the bar’s potential. Sure thing; this is the route taken by the majority of bar owners. They open the bars in trendy places with the aim of making quick returns. Trendy places contain many people who are always mingling on regular intervals. Opening up a bar at such a location will attract such people and create a perfect customer base. These places are expensive in terms of rent (Mealey). Accessibility The general ideas of finding the best location to open up a bar are; finding a spot that is close to offices, strip malls, residential neighborhoods or near sports venues. These areas form the most favored locations since people have already settled in these areas to take advantage of the offered services. Prospective patrons will quickly step by from their usual routines to and from these places. Corners are the most desirable places since people have the ability to view two streets instead of one. A bar situated at the edge gets more exposure than the one in the middle of the block. Corner locations are more expensive so it is important to calculate whether the added exposure will provide the best answers for your business. Situating the bar closer to freeway exits or highway exits makes it more accessible to customers. Motorists will reach the bar without the need for driving out of their way or facing immense traffic. A good bar should be easy to find (Mealey). Parking People are against the idea of walking a long way to get to a bar. They may choose to visit another bar that is more convenient. This is an important factor to consider whether the bar is at an urban area or an out of town bar. In the instance of an out of town bar, parking is a more critical aspect since people have to use their automobiles to get there, parking must also be available. The bar owner must also have a parking large enough to accommodate many customers. Urban area bars must have a parking and also be located at a place where it is easy to walk to a public transport area. Since most bars will operate at night, the parking must be well lit to enhance visibility and security (Entrepreneur). Building Size Large buildings mean that the available spaces are big in size and, therefore, more desirable when opening a bar that can accommodate many people. Urban areas create the need for spacious bars to accommodate various uses. Large bars require high power consumption, specialized wirings and meeting places. The bar owner may also need an office for himself and the employees; this is not possible in small sized buildings. A large building will also enable the owner to set up different locations within the bar for different purposes. He can set up a counter, Very important persons (VIP) sector, dancehall and a regular seating area (Entrepreneur). Price (Rental) As noted earlier, when it comes to setting up a bar and choosing the right location, money will come into play. Some of the most desired areas for setting up a bar are hotly contested by prospective bar owners, and this makes them more costly. Places that are ideal for opening up a bar are corner locations and densely populated areas in towns or cities. Building owners realize this potential and will raise the rent for such buildings. As a bar owner, it is important to calculate whether moving in at a place that requires more rent will lead to more customers and as a result translate to more profits (Entrepreneur). Condition of a Site While starting a new pub in a new location, it is not ideal to pick a place that requires extra repairs. When starting a new business, one is not supposed to use much capital on unnecessary needs such as additional repairs. If the condition of the site is not up to the required standards, the building’s owner must carry out the repairs, not the prospective bar owner. But, if they both agree that the prospective bar owner should improve the site, the owner must cancel rent for the first couple of months or reduce it as per the amount used for repairs. The bar owner should agree to this only if he views the location of the building in question to be favorable (Entrepreneur). Road Construction If a bar is opened up in a place whose road is under construction, it means that there are fewer customers at the point of development. But after the road construction is completed, the new road will attract more traffic and a new pub at such a place will be a stopover for many people. This is a risk, especially for a new bar that does not have a loyal customer base. The prospective owner will have to assess whether that location will be opened up by the new road to become a trendy area suited for a bar (Entrepreneur). Crime and Traffic An area with more traffic increases the chance that someone will drop in for a drink. Such high populated areas are more susceptible to higher crime rates, for example; in downtown areas and the inner city. For a new bar, it is not advisable to move to such areas with high crime rates, this will instill fear in prospective customers who will choose safer destinations (Mealey). Visibility For a new bar, a location that is based on a corner or a busy intersection will acquire a lot of interest and traffic. Bars that are situated in a grove of trees are at a disadvantage due to their location. To get customers, your spot must be easily visible to remind customers that you are open. Installing clear signs that are visible even to the drivers is ideal for bars (Mealey). Conclusion A prospective bar owner must note the stated factors because they are a must for succesful bars. Leaving one factor unchecked may lead to less profits or even a failure to meet the objectives. Works Cited Blog.foodservicewarehouse.com,. Choosing a New Restaurant Location. N.p., 2014. Web. 6 Apr. 2015. Entrepreneur,. How to Start A Bar/Club. N.p., 2010. Web. 6 Apr. 2015. Mealey, Lorri. The Best Place To Open A Restaurant. About.com Money. N.p., 2015. Web. 6 Apr. 2015. Read More