Alcohol is one of the most stable industries even in the face of recessions. It’s a socially acceptable, at times expected form of leisure for many people around the world. It’s a way to unwind, relax, celebrate, bond, mourn and ease their sorrows. If you are quite passionate about it, you may find that starting your own bartending business will be quite rewarding and successful. Follow this guide to get started.
Create a plan
With any business, you need to develop a solid business plan. You need to have thought about the customers, costs, the potential profits, the marketing and any legal issues so you can have a successful business.
Target market
Trying to figure out a target market for such a wide customer base is going to be difficult. It’s not like selling kids clothes, where the customer base is mostly parents or expecting parents.
Everyone above the legal drinking age at some point will probably purchase alcohol. As a present, for themselves, to share with friends, or to add to a collection. This is where segmenting comes in.
Each segment will be drawn to a particular type of alcohol as well. Beer, whiskey, gin, soju, sake, champagne, and ciders to name a few. Understanding their tastes and when they like to drink is key here. This will ultimately effect what you supply and when you supply it. It will dictate your entire inventory base and working hours.
Costs
When calculating your costs, there are a few main things to consider. Glassware, straws, napkins, and of the big seller; alcohol. Consider eco-friendly options for all your little things as well, because it is not only considerate to the earth but a great marketing tactic. People nowadays are very passionate about using eco-friendly options, and will often support and be loyal to businesses who do the same.
If you are going mobile, you also need to find yourself a bartending vehicle to operate from. These are fantastic for events if you get hired to supply alcohol to a work event, graduation, birthday or any number of occasions. Having all your own equipment and inventory will make it easier for you to ensure quality as you are experienced with it already.
An administrative cost that is often overlooked is the registration of your new business. Before you can officially start your bartending business, you need to register it and have all the correct legal paperwork filed. This allows you to claim GST if needed, employ people, and operate under the protection of the law.
Legals
Alcohol is a heavily governed industry, but can be incredibly profitable. You’ll need to do thorough research on all the laws surrounding your new work industry so that you are fully prepared. If you need more legal help, you can always consult a business lawyer.
You also need to have your RSA before you can even start operating. Your responsible service of alcohol license will show your customers that you can be trusted at their event to not only serve alcohol, but know when to stop. This is one of the main worries when entering into this business because you don’t want to be the cause of someone being hospitalised or killed.
This skill is developed throughout your experience as a bartender. It’s ideal to have worked first for a few years in a bar or club before venturing out on your own so you have the mentoring and help needed. This way you can start your business with professionalism straight away.
Marketing
This will be your biggest investment, besides the alcohol of course. An effective marketing strategy will put you on the map, and ensure a steady flow of income. From the segments that you created earlier, you will know how to start marketing to each segment.
For example, for event companies, you’ll want to have your ad straight to the point. These professionals are in charge of hiring different companies to complete an event, and having a bartending business can definitely elevate it. You can also switch up the ad to cater to parents or young teenagers. Celebrating a big birthday, anniversary or graduation might call for a big house party, and a bartender could really help.
A huge market for you is weddings. With the trend of more bohemian, rustic decor, a nicely decorated mobile bartending vehicle would be the perfect fit. Consider attending wedding expos to get your exposure for this, or paying for a feature in a wedding magazine.
Conclusion
Due to the never ending need for alcohol, a bartending business can be a very safe and stable job. The only thing you will need to take into account is the laws that govern the industry. Do the research and earn the experience before starting this business, and you will surely be successful.
