1. Write a business plan. Include your focus like what type of bar you’re interested in opening, market research and analysis, your objective and mission statement as well as an itemized list for your startup cost. Include items such as estimates for monthly rentals, utilities and payroll.
2. Find a location to open your bar. An ideal place to open your bar should be a place that has high traffic by people who travel on foot and by car. It should be visible to consumers. Look into a downtown city or metro area in your state. Research local bar and grill restaurant publications to get an idea of where to open a bar.
3. Choose a catchy name for a bar. Remember a name that’s simple will always stay in a customer’s memory. Have your name relate your bar like 21 Bottles.
4. Apply for a small business loan at your city or county’s financial institution. Obtaining a small business loan with low interest rates would be beneficial with helping you reduce accounts payable when opening your bar. Try a credit union that offers small business loans. Look into approaching silent investors and angels that are willing to invest in opening a bar that you both are interested in establishing. Remember investors will put in their suggestions and opinions due to their monetary contribution to opening your bar.
5. Go to your city or county’s clerk’s office to apply for your business license to open your bar. To apply for your business license, you’ll need your driver’s license, social security number, and a contact number.
6. Visit the IRS website to apply for your Employer Identification Number. To apply, you must fill out the IRS-Form SS-4. You’ll need your social security number and the name of your bar’s business license. Once the application is submitted electronically, you’;ll immediately receive your EIN.
7. Check to see what your state requirements are for applying and receiving an alcohol license. You may have to pay an upfront fee to obtain your alcohol license if you want to serve alcoholic beverages in your bar.