Yes! It is the right time to start a sports bar because, as anyone who loves sports will tell you, there’s a ball in play somewhere 24 hours a day. And, as anyone who loves a great bar will tell you, there’s a cold and crisp beer waiting for you in the bar, as well. Of the 70,000 bars in the U.S., over 31% of the owners identified theirs as sports bars, according to the Trade Association in 2022. That says everything about the possibility of creating a successful venue and profitable bar. Let’s talk about what it takes to create a great sports bar.
Choose the Ideal Location and Assess the Target Audience
Ideally, a sports bar is large enough to hold several television screens for viewing sports, along with a few for those who choose to watch a home decorating show. A sports bar needs to be fairly large to accommodate gatherings of fans, which means long high-top tables with stools, a bar running along one side of the room, and kitchen facilities. Finding the right location will be especially important, as there must be enough traffic coming through the door to cover the cost of the room and furnishings.
The target audience for the sports bar will be those who enjoy drinks, bar fare, and community gatherings. You’ll want to assess the patrons of sports bars in locations around the region before opening your sports bar to conduct research: what are the ages of most people in the bar, what kind of drinks are they ordering and are they ordering food with drinks? How long are the customers staying in the bar? These are questions that will help form a demographic picture of the people who will enter your sports bar, looking for a similar experience.
Carefully Consider Your Competitors
Before opening your doors, check every bar in the vicinity. Determine which competitors will come the closest to your sports bar in atmosphere and offerings and conduct research into the audience who visit, the ages of the patrons, the size of the room, and the amenities offered. Observe how the bar is run and how the servers interact with patrons. With this information, create a unique offering that will be present in your bar, whether a certain menu, unique atmosphere, or special drink menu; this will differentiate your sports bar from any other bar and allow you to overcome any potential threats from competitors.
Take Care of the Requirements and Legal Business
This step in opening a sports bar is the one that involves legal forms and filings. There are permits and licenses to acquire to open a sports bar. File these at least 3 to 6 months before opening. The city and county offices may be slow to return your approvals.
It’s also time to choose the legal structure of your sports bar: will you be a sole proprietorship, a partnership, a C or S corporation, or a limited liability company? Each of these types of business has its purpose and pros with cons; you’ll make your choices based on your situation as an owner. Check with an attorney if you have questions.
Build a Business Plan for Your Sports Bar
As important as all the steps to start a sports bar might be, there are none more important for the stable life of your bar than of creating the bar business plan that will act as the foundation for everything in the bar. Complete the process and place everything into one final business plan. This is the foundation of your business; keep it as a reference and guide for decision-making.
Purchase Tech and Software for Your Sports Bar
The earliest days of sports bars included many “active” arguments regarding the television controllers and who was in charge of them. Today’s tech removes that issue and control of the screens is out of the hands of bar patrons. Hire a professional television provider and installer to take care of the job. A service technician will place all controls in one system, with tech processes to assist in controlling the televisions. Along with the visible tech in your sports bar, invest in a security system to protect it. Purchase software to assist in inventory control, bookkeeping, and other admin tasks.
Starting a sports bar will be exciting and challenging; undoubtedly, patrons will enjoy the community within it, along with the atmosphere of sports on the screens. We hope you take time to enjoy your success as you build toward long-term growth and personal wealth.