FOR THE LOVE OF THE BARS/CLUBS/LOUNGES

From the Islands to the main lands of Lagos and also other cities and towns in Nigeria as well as other parts of the world, from time to time you get vibes of individuals especially celebrities delving into the business of bars, night clubs and Lounges as they recognise daily that the business has diverse and millions of existing and potential customers. 

Sadly, also just as they are launched open, a large number of them fold up within two to three years after, while a few others are either restructuring or operating prematurely. The ones who have gained the edge are those who have been able to weather the storms in the business. In Lagos alone, there are several and lately a few of them have included some bit of accommodation to make extra income from those who come from out-of-town or perhaps from those who are unable to get home in whatever unstable state they find themselves at the end of the night-out as these places not only afford a setting for individuals to meet, mix or network but also serve intoxicating drinks while having fun.

However, it is worth stressing here that even though sometimes the excitement and societal rewards of being an owner of one of such businesses are attractive, nevertheless, prospective investors should not have the wrong impression that the prerequisites of running a successful business such as a club or bar is by just being wealthy, sociable or having a large circle of friends. It sure requires more than that.

Like every other business, starting a club could be tough but tougher than most other kinds of businesses to keep it running successfully. That is one of the reasons why a lot of bars/clubs are always bought over by new owners or shut down by initial owners due to their inability to brace up with the many challenges that their successful counterparts meet up with on a daily basis.  Apart from the overwhelming fact that the biggest challenge of running a successful bar/club is that of cash flow and business overheads, such as labour, drinks, continuous upgrade of environment, cost of running generators, and other general work of keeping the business alive, there are also other innumerable challenges which are faced by owners of these businesses.

Some of these challenges include less sleep. Most successful club/bar owners have a propensity to sleep a lot less than the average person. Some people would disagree and say they would hire capable hands to manage the business but another group would still proffer that it is best when the owner of a club is always around to oversee things despite having a ‘capable hand’  to ensure things are done properly and that clients have good service encounters.

Another challenge is, retaining staff especially those whose services customers already feel comfortable with. This is a tougher challenge for a new owner who is buying over an old club and changing staff as retaining customers will be a hard nut to crack and it is toughest if the business he/she is buying over was a complete failure in the hands of the old owner. Hence potential buyers should always carry out a good research before they conclude transactions. It is predominantly advisable to change a business name to indicate the new ownership of the club/bar for a fresh start and also try and retain some of the old staff as the experienced staffs is always a good asset to a business.

Additionally, club/bar owners ought to be firm but friendly with customers so that they do not take advantage of him/her especially by buddies who would want some credit, enjoy some happy hours and late-night freebies/fares as well.  A few months ago on one of the radio stations, there was a debate about how some ‘Island big boys’ after rounds of drinks at some bars would drop their business cards with a promise to get back at a later date to pay for their drinks which they rarely fulfill. It is such habits that run a thriving business out of the market. There is a common cliché that “businesses flourish when friends and families pay” which is funny but true. These and many other challenges face the club/bars owners.

The business is not cut-out for everyone, in order to succeed; it ought to be your way of life as you must be willing to sacrifice your energy, time, passion, social life and money. Peace!!!

Let’s have your feed backs, thoughts and comments (for we always stand to be corrected and also learn more from you).