Though it can be a complicated process, here is a brief and general overview of the steps involved in owning a bar or restaurant:
- Step 1: Develop a knowledge base.
The first step in owning any business is becoming an expert on the product you are selling and the market which you are entering. This does not always mean a college or university degree or diploma, but can also be experience in the industry, individual courses or other relevant education. It can also be self-taught using a combination of resources and tactics.
- Step 2: Resources and funding
To put your new found useful knowledge into practice, you must ensure that you have adequate resources and funding to do so.
- Step 3: Planning
Make sure to understand all of the requirements from a legal and regulation standpoint to make sure you know what steps, resources and time are required.
- Step 4: Obtain permits and licenses required, and ensure they are the correct permits
- Step 5: Continual improvement
From an ownership standpoint, it is essential to look for ways to further your knowledge and understanding.