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It can help you claim share in your market, but you should also be OK with emulating successful elements of other bars and restaurants.
I quit my job and worked in the industry for years before I opened my bar.
Not only did I get practical experience, but I also found other bar owners within the local community who were willing to help.
Even with that experience, there are plenty of other lessons I had to learn once I was a gaming lounge owner.
Remember all that fun stuff about parties and weekly Smash Brothers tournaments?
A good business plan will help you have answers to questions before they are even asked.
When we had our first liquor license hearing, neighboring residents showed up who were unhappy with the idea that a new bar was opening up in the space.
They gave me advice and taught me a lot about profit margins and the day-to-day workings of the industry.
What works in Milwaukee probably won’t work in Seattle, and so on.
You’ll need to consider items like parking, size, logistical flow within the space, local and city ordinances, amount of renovation needed, rent, atmosphere, terms of lease or purchase agreement, and many other items we don’t have room to dive into individually here.
The contacts that you made while in your exploratory phase can help you here. Opening a business like a gaming lounge means engaging with the local bureaucracy, which takes both time and money.