Ins and Outs of owning a night club

[JWell]

I have been wanting to own a nightclub for some time. My dream would be to own one in Miami on south beach. I know of one that is for sale in a major metro, good downtown location. 4 bars, 2 levels, vip etc. My questions are involved around the unforseen and downsides of this business. Expenses seem to be alcohol, dj, special promotions i.e. famous guests, waitresses, bartenders, security, electricity, insurance. The one I want to pruchase, I believe I can gross $500k per year and clear about $150k after all expenses taxes etc.

What other expenses am I forgeting?

 

[BookerTee]

http://www.nightclub-business.com

This is one of the best 'real talk' club/bar sites I've come across, very good forum to chop up game.
Also read some industry books and try to talk to owners in OTHER states.
Be prepared to spend most of your time there unless you have a VERY capable and trustworthy GM because employees will steal steal steal.

And lastly, holla at a playa if it goes through so I can get some miami VIP

 

[hustlehard718]

You can do alot more than 150k if u get to business. Your main aspect of owning a club just like so many other business would be in connections. Right now hip hop is a bank in itself but its VERY risky. Security has to be trippled if u plan on having a hip hop club. I have a friend that works at the China Club up here in NYC, she said there are 15 bartenders and each bartender cashes in atleast 2k per night. So if u work with the right promoters you can let them keep the door money and you keep the bar money. Its simple but you need a strong team around u.