Open a bar if you've got a smart business sense, an outgoing personality and the desire to provide a popular center of entertainment. Bear in mind that running a bar isn't all fun and games; it will require countless hours of preparation to get your bar running, and for a while you could be working 16-hour days to keep the bar afloat. Before you start ordering bulk quantities of liquor, make sure you're well prepared to open a bar.

Planning

Planning your bar entails creating a detailed business plan, finding a partner and investors, finding a location and conducting thorough market research. A business plan must look ahead, account for the day-to-day operations of your bar, prepare for problems and focus on key points such as expenditure and profit. If you haven't had much experience working in or running a bar, find a business partner who has. Having an experienced partner is essential to formulating a smart business plan and finding investors. Without investors, you won't have the required start-up money, and without that you won't have a bar. Next, consider your location. Research your bar's location by visiting other bars in the area. Consider the bar's target demographic and theme. If you're trying to open a new sports bar in an area where there's already a highly popular sports bar, be prepared to offer something the other bar doesn't---cheaper prices, a friendlier atmosphere or better location. Also consider the income level of your demographic. For example, an expensive craft microbrewery probably won't fare as well in a low-income area. Consult local alcohol suppliers to get an idea of what drinks sell well in the area. Meet with local newspaper entertainment section writers to find out what makes local bars popular.

Legal Considerations

Thoroughly research your state's liquor licensing laws before you open a bar. In the United States, liquor licensing is handled on a state-by-state basis. To further complicate matters, you'll find that some states let individual localities handle liquor laws. In addition to liquor licensing, states have various laws regarding legal responsibility. It's important to know, for example, whether you'll be held accountable if a patron leaves your bar, drives away drunk and gets into an automobile accident.

Source:

Club Planet: How to Open a Bar

BPlans: What is a Business Plan?