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First and foremost, it’s a Management Tool, It forces you to think through important issues you may not otherwise consider The recipe to grow your law practice If you are going to buy a book, look for one that offers general advice and suggestions applicable to all businesses.And, if you choose a software package, eliminate the “techy” things like their numbering system; that is a dead giveaway that you’re using a software program. Suggestion: Don’t just buy one from an online bookstore.- The type of clientele you’d like to attract - The bar concept and design. Some say location plays a huge role, other claim that with a right approach you can make a profitable bar business at any place.
Double-check everything closely related to your niche to avoid unpleasant surprises and lost profits in the future. Usually, you potential suppliers can provide all the valuable information about your customers and what they like to drink. Scan your local papers and magazines to get the idea of successful establishments in your area and what concept lies behind them.
It would be profitable to open a smoothie/juice bar in a community interested in healthy living and sports.
- Concentration strategy implies focusing on specific clientele only and avoiding competition in the first place.
For instance, when opening a whiskey bar you should rather market it to one specific segment of population (those with higher income), rather then everyone else.
Pay attention to the age, gender, matrimonial status and income levels.
Your bar’s concept might need to go to the opposite direction if you are in a sophisticated upscale neighborhood, than if you are in a college town. Some cities have really odd laws you had no idea about.
The choice of location should depend on the following factors: - Your budget.
Low rent and high visibility rarely come hand in hand.
We’ll talk of more specific marketing techniques to help you dominate the market and attract more customers shortly.
Before that, you’ll have to make another important decision.