4 ms·

Not sure if it's what you're looking for, but I have a non-tech story: I bought a small B&M business--a bar--in 2010. I had 2 partners, which quickly became ju

by mod 5y ago

Not sure if it's what you're looking for, but I have a non-tech story: I bought a small B&M business--a bar--in 2010. I had 2 partners, which quickly became just one partner. The existing business was using a small bar area, but the building had a much larger back room with a separate bar which we planned to move into after we got it ready. (The building was previously a VFW). The existing business was also poorly ran, dirty, and the customers frequenting it were not very--desirable? Lots of silly practices were occurring--for instance, if you did the math on the pitcher, it was more per ounce than the mug. Over time we did move into the back, and after a few years of sticking it out, having good food, good service, and a good atmosphere, we had a nice steady business. It's doing quite well now, and I've mostly eliminated my own role there, whether via trustworthy staff, or automation (I'm a developer as well). For numbers, I think our sales have scaled roughly 20x from the time of acquisition. Possibly a bit more, I am working off memory for the original sales. We also scaled from working it entirely ourselves, to having about 10 staff members--6 bartenders, 2 cooks, and 2 door people.

awb 5y ago
Congrats and thanks for sharing! What made you want to invest in an existing business versus setting up your own bar in a new space?
- mod 5y ago
  We thought it made sense given our limited budget, the price the guy was asking, and the ready-to-go equipment and clientele. It was a minimal investment, but I was simultaneously all-in. We had to be profitable to start, and frankly that undesirable clientele kept our heads above water. It was also easy to see how we could improve on an already-profitable business
tomcam 5y ago
Every dude’s dream. Mad props.
- mod 5y ago
  Thanks. I don't think it should be every dude's dream, though. When we bought the bar, I had never had a drink in my life! I was an active pool player, though, and pool league was important in our growth. The bar scene definitely is still not for me most days, and I'm actively finding ways to stay out of there. It sucks you in and the people you spend the most time with are the 6- nights-per-week regulars. It can be depressing, but I'm finally at age 37 starting to manage that pretty well.
cosmodisk 5y ago
What you've written here is a common sense that apparently isn't that common in many establishments. I have a feeling it did help a lot that you weren't from the industry,so you could see through a lot of bs.
- mod 5y ago
  That's likely. We had one partner who had worked in bars for a long time, so he had those ideas about good service etc. I brought "all things computer" and a willingness to bust my ass. I also am the most logical and money-conscious, so I shot down a lot of ideas like spending 12k/ month or something in radio ads, as an early example. I also handled all the legal stuff, LLC, licensing etc. I think what made it stick was just knuckling down, working our own bar, and caring about the customer experience above our own.
  - cosmodisk 5y ago
    "I think what made it stick was just knuckling down, working our own bar, and caring about the customer experience above our own". That's 90% of job done out there! It amazes me how many places fail on these simple things. You walk into the toilet and that lock hasn't been fixed since last Christmas. The wobbly table is still there,or the kitchen that mix up orders all the time. But then I suppose It's no different to any other businesses, where simple things never get fixed too.

by mod 5y ago

awb 5y ago

Congrats and thanks for sharing! What made you want to invest in an existing business versus setting up your own bar in a new space?

mod 5y ago
We thought it made sense given our limited budget, the price the guy was asking, and the ready-to-go equipment and clientele. It was a minimal investment, but I was simultaneously all-in. We had to be profitable to start, and frankly that undesirable clientele kept our heads above water. It was also easy to see how we could improve on an already-profitable business

tomcam 5y ago

Every dude’s dream. Mad props.

mod 5y ago
Thanks. I don't think it should be every dude's dream, though. When we bought the bar, I had never had a drink in my life! I was an active pool player, though, and pool league was important in our growth. The bar scene definitely is still not for me most days, and I'm actively finding ways to stay out of there. It sucks you in and the people you spend the most time with are the 6- nights-per-week regulars. It can be depressing, but I'm finally at age 37 starting to manage that pretty well.

cosmodisk 5y ago

What you've written here is a common sense that apparently isn't that common in many establishments. I have a feeling it did help a lot that you weren't from the industry,so you could see through a lot of bs.

mod 5y ago
That's likely. We had one partner who had worked in bars for a long time, so he had those ideas about good service etc. I brought "all things computer" and a willingness to bust my ass. I also am the most logical and money-conscious, so I shot down a lot of ideas like spending 12k/ month or something in radio ads, as an early example. I also handled all the legal stuff, LLC, licensing etc. I think what made it stick was just knuckling down, working our own bar, and caring about the customer experience above our own.
- cosmodisk 5y ago
  "I think what made it stick was just knuckling down, working our own bar, and caring about the customer experience above our own". That's 90% of job done out there! It amazes me how many places fail on these simple things. You walk into the toilet and that lock hasn't been fixed since last Christmas. The wobbly table is still there,or the kitchen that mix up orders all the time. But then I suppose It's no different to any other businesses, where simple things never get fixed too.