Are Bars Still Profitable? 3 Things To Know Before Opening One

Bars have been around for many years, and there’s every reason to believe they’ll continue to be around for many more to come. People love going down to their local bar for a few drinks over the weekend, or to catch up with friends at lunch. No matter where you go, you’ll always find a fair few bars in any given town.

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This begs the question: if there are still loads of bars around, are they still profitable business ideas? Could you open a bar in your local town and start raking in a lot of money?

In truth, there are loads of factors that come into play when you open a bar and start your business. These factors will ultimately decide whether or not your business is successful and makes a profit.

So, if you think starting a bar business is an idea you want to run with, then here are some things to consider before you open:

Location Matters More Than Anything

There’s a reason many towns and cities have dozens of bars all clustered close to one another. It all has to do with their location. If a bar is in a popular hotspot that generates lots of foot traffic, it will always end up with customers. People have their favorite bar, and it’s mainly down to the atmosphere you create in yours.

The clever idea is to have a look at all the bars in your area and see what they offer. You will soon find that there’s a gap in the market for a certain type of bar in this location.

For example, let’s say you notice no one really offers a ‘family friendly’ bar—this can be your unique selling point to draw a specific crowd. Likewise, it may be missing a student bar, so you can swoop in and provide this.

The most important thing is that you get your location right to begin with. A bar in a great location will always attract customers, regardless of how much competition is around.

Alcohol Sale Laws Differ By State

If you sell alcohol—which you’ll probably do in a bar—then you have to abide by certain laws and regulations. These laws can differ, depending which state you open your bar in.

Did you know that in the state of Alabama you can’t sell alcohol between 12am and 12pm on Sundays in some counties? Then, in Texas, everyone who sells alcohol is required to obtain a TABC certification. Different states have different laws, and you should get to grips with yours before you start your business.

After all, it could have a massive impact on how much money you make. If the alcohol selling hours are very restrictive in your state, then you’ve got less time to make money through the week!

Speaking of laws, it’s illegal to sell alcohol to people under the age of 21 in the U.S. This immediately makes a difference, as it restricts your target market. Let’s say you open a bar in an area of town that’s mainly populated by families with children under 21. You don’t really have a lot of people to sell alcohol to, which can limit your income.

Overhead Costs Can Be Quite Steep

One of the biggest obstacles facing bar owners is the cost of running one. Overhead costs can be fairly steep, and the main concern is keeping them as low as possible. Naturally, you’ll have to purchase a lot of materials to sell in your bar. No one has the time to brew their own booze, although this can be a smart way of saving money! So, you have to find and buy alcohol, food, and snacks to sell in your bar … not to mention the cost of hiring employees to serve customers.

There are some things you can do to keep these costs as low as possible – buying your goods wholesale is the best idea here. However, you should probably put most of your focus on raising your sales to counter these costs. If you’re selling enough goods, you’re going to end up making a profit.

Therefore, make an effort to market your bar properly and reel in as many customers as can be. Mentioned earlier was how the location of your business is key, so you should also try to find a unique selling point. Another idea can be to host events during the week that draw in big crowds or hold happy hours where drinks are discounted.

So, are bars still profitable business ideas? Yes, but it depends on where you open yours and how you market it. Some bars see a lot of success, while others falter. It’s a gamble, but when it works, it can really pay off.

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What to Do When an Employee’s Social Media Activity Is Hurting Your Business

(Special guest post by Dawn Mentzer)

Employees can be among your best brand advocates, as their positive messages about your company reach their friends and followers on social media.

But their online activity can be the proverbial thorn in your side when it (intentionally or not) begins to reflect negatively on your company’s public image.

Consider the following plausible scenarios that could reflect badly on a business’s reputation:

  • Sales consultant Larry’s extracurricular escapades on Instagram

  • Tech support specialist Emma’s spirited political rants on Twitter

  • Overenthusiastic customer service representative Bill’s snaps about a confidential product enhancement that’s under development to 102 of his closest friends

  • Accounts payable clerk Lisa’s digs directed at a co-worker on Facebook

What can you do if employees’ online conduct is putting your company’s character in jeopardy? Is bad behavior online grounds for firing employees?

Maybe. Or maybe not.

In this article on the Monster blog, the attorneys interviewed share that employers need to proceed with caution. The National Labor Relations Board protects employees’ rights regarding off-duty conduct, and the laws on businesses’ rights to discipline employees for inappropriate online activity on their personal time vary from one state to the next. And every case is unique.

It’s tricky territory. But a reasonable start for business owners is to take to heart this idiom: the best offense is a good defense.

Companies that have a clear social media policy in place for their employees may have a better chance of avoiding issues and a stronger leg to stand on when someone goes against their wishes.

Small Business Social Media Policy Food for Thought

As with any HR policy and document that has potential legal ramifications, small business owners could run into trouble if they try to create a social media policy completely on their own. An HR professional and attorney can provide specifics about what restrictions a policy can or cannot not include.

Here are some considerations for business owners to mull over as they think about creating their social media policies.

A Business May Need Two Social Media Policies

One for employees who use social media for personal purposes and another for employees who manage the company’s social media accounts.

For the employees using social media for their personal purposes, there are two flavors of social media activity to address:

  • Using social media on company time

  • Posting about the company, the people who work there, and things that are happening at the company — during employees’ personal time.

What Guidelines for Social Media Use Do Businesses Include in Their Policies?

From several social media policies online, including those shared in a Hootsuite published blog post and on the Society for Human Resource Management (SHRM) website, some reminders made for employees are:

  • Online activity should not violate a company’s confidentiality policy.

  • Everything published online may never disappear; therefore employees are encouraged to act responsibly and appropriately.

  • Readers may view employees as spokespersons for the company.

  • Conduct that adversely affects job performance (of the employee or associates) or otherwise adversely affects those involved with the business may result in disciplinary action.

Some of the guidelines within the policies include language about:

  • Limitations on use of blogs, personal social media, social media monitoring tools, and e-commerce sites during business hours

  • Making it clear to readers that the views expressed are the employee’s thoughts and not necessarily those of the company

  • Thinking judiciously before forwarding emails that contain jokes, silly GIFs, urban legends and get-rich business opportunities

  • Being respectful to the company, fellow team members, customers and competitors

  • Responding to or contacting the media

  • Respecting financial disclosure laws

  • Refraining from disclosing your location by checking into apps when visiting prospective and current clients

  • Understanding and not divulging company confidential or legally sensitive information on social media

This is just a sampling of what a social media policy might cover. Depending on the type of business a company conducts, the guidelines may need to be less or more extensive. Business owners can help ensure their policies don’t violate employees’ rights or otherwise put their companies at risk by getting guidance and feedback from an HR professional and attorney.

Social Media and the Legal Landscape are Continually Evolving

With the certainty that new platforms will enter the digital playing field and existing systems will add new features and functionality comes the uncertainty of what hurdles lay ahead. Companies will continue to face the challenge of creating policies that minimize the risk of employees hurting their brand reputation but don’t violate employees’ rights or discourage them from serving as loyal brand ambassadors.

 

Author Bio:

Dawn Mentzer is a contributing writer for Straight North, one of the leading Internet marketing agencies in Chicago that provides SEO, PPC and web design services. As a solopreneur and freelance writer, she specializes in marketing content — and collaborates with clients nationally and globally.

Mistakes Made When Juggling Studying and Working

Image source – https://c1.staticflickr.com/1/101/296747958_8c15e91e3f_b.jpg

 

If you are a student and trying to hold down a job at the same time, there is no denying that it can be incredibly difficult. You can feel like you have no time to yourself and it can often feel like your life is spiraling out of control.

You don’t want to let your employer down, yet you need to pass your exams with flying colors. So, how do you go about balancing these two important elements of your life? Well, if you can avoid the mistakes mentioned below, that would be a brilliant start…

Ignoring the option of taking an online course – This is one of the biggest mistakes that people make. They assume that online courses are of a lesser quality, or that they don’t mean as much when it comes to the individual’s credentials. However, this could not be further from the truth.

Online courses are just as valuable. After all, it is the accreditation you get at the end that matters, not how you got it. Moreover, online courses, such as online nursing MBA courses, are ideal for those attempting to juggle a job at the same time. You will be able to study during hours that are convenient for you. Plus, you won’t waste time by having to commute to and from university every day.

Failing to keep your boss in the loop – A lot of employees do not want to tell their boss about their academic studies for several reasons. One reason is that they fear it shows a lack of commitment on their behalf and that it will not go down very well with their boss. Another reason is that they are worried it indicates they are going to be looking for another job once their studies are finished, and so they may end up being replaced.

You certainly shouldn’t fret about matters like this. In fact, it will be much better if you tell your boss about your studies. You will find that most managers are supportive.

They will be happy for you to take time off to study so long as you make up for it by working later or coming to work early during other days.

Using your holiday days for actual holidays – Yes, your holiday days are designed to give you a break from work. However, when you are attempting to study at the same time, you should be using your holidays for study breaks.

Now would be a good time to find out how many days off you have available. You should then book these days off close to your exams so that you can fit in some extra study time. Yes, no one wants to use his or her holiday days for something boring like studying, but it is vital!

Failing to take a strategic study day – You need to take a strategic study day before every exam. This means that you assign at least one day in the week leading up to your exams to studying and nothing else. This will ensure you feel less stressed in the run up to your test.

You are not prioritizing your health – You are never going to get anywhere if you make yourself ill and you have to spend a week in bed. Yes, it can be difficult to look after number one while you have so many other things to worry about. However, if you do not get enough rest and you don’t eat right, your body is going to shut down on you, and this could cost you much more in the long run.

So, make sure you are getting the required amount of sleep, and that your body is getting all of the nutrients it needs. If you do this, you will not only ensure your health and well being, but you will find that you are a lot more productive too.

You are not making the most of every minute of the day – In order to balance work life and study life effectively, and take care of your health too, you need to make the most of every spare minute you have available. For example, if you are waiting to pick your children up from school, why not watch a YouTube study tutorial on your phone? You should also carry flash cards with you at all times so that you can make the most of any spare moments you have available.

Your daily commute is another part of the day that should be maximized in terms of studying. If you are driving, you can listen to audiobooks or a recording of you speaking your study notes. You should also record lectures and listen to them in the car. Turn the speed up to 1.5x so you can take in more information during your drive.

You aren’t making a sacrifice – In order to study effectively while holding down a full time job, you are going to need to make a sacrifice. For example, if you are someone who watches television on an evening, you should sacrifice one hour of this time so that you can study instead. You will never achieve your goals if you do not make adjustments in other areas of your life.

If you can avoid the errors that have been mentioned above, you will give yourself the greatest chance of balancing your work life and study life effectively. There is no denying that is challenging, and it won’t be plain sailing along the way. You will need to make sacrifices, and though it will be trying from time-to-time, in the end, when you ace your exams, it will be more than worth it.

How Technology Made its Impact on Business Communication

How Technology Made Its Impact on Business Communication

Guest Post by David Webb

 

Nowadays, business communication has not only become faster, but more reliable as well. We no longer use carrier pigeons to relay our messages across great distances. Instead, we use communication software such as Skype and Viber to contact people in real-time wherever they are on the planet.

As a result of this technology, businesses, especially small businesses, are more efficient with their use of resources as well as their team management overall. Communication breakdowns were known to be quite costly in the past, but luckily for us, we’re living in the digital age, where swift communication is the name of the game. Therefore, here’s a more detailed explanation on how technology has made its impact on business communication:

Reliable Communication

 

Digital communication is both reliable and inexpensive, so much so that it totally replaced physical messaging of any kind in the business sphere. Once sent, digital messages have a better chance of reaching their destination than paper messages. As an example, there are no mailmen involved, so you won’t have to worry about them getting attacked by a guard dog and accidentally switching your letters in the process.

Also, apart from the occasional glitches, digital messaging is less prone to human error, as computers are more efficient at delivering them to the right source than we are. However, text messages are not the only thing we can send to our colleagues; the exchange of files is yet another thing we take for granted nowadays.

By using cloud storage software, employees can access their files even from home and can share them with the rest of the company as easily. This makes business data more secure as there are constant backups online in the case of a security breach.

Moreover, business communication has become instantaneous, with multiple colleagues often editing the same document or file in real-time. No matter where they are, the USA or Australia, co-workers can engage in work together from anywhere around the world at the same time.

Source

Video Streaming

 

Speaking of the land down under, there’s a technological revolution taking place. Sydney is slowly turning into Australia’s Silicon Valley. Companies are shifting from outdated business tech and practices to new innovative ones.

For example, large conference room meetings are becoming obsolete as they are steadily being replaced by video conferences instead. With these, workers don’t even have to abandon their work stations in order to attend one such meeting. Everything can be done from the comfort of their desks as webcams do the rest.

It saves businesses a lot of time and space and is better overall than making a phone call because you can actually see the person you’re talking to. In that sense, video streaming is more in-depth as you can convey both visual and audible information at the same time.

However, what this means is that workers in general, not just the managers, need to fall back to their presentation skills every once in a while to be effective during such digital conferences. Thus, this skill is becoming an essential trait for any successful employee, and will likely become the business standard in the near future, so honing it might be an excellent idea. Many local startup companies actually send their workers to presentation skills training in Sydney so they can acquire new and useful skills and get a head start.

Finally, video conferences can be recorded and stored as data to be replayed at a later date. Meaning, the information is never lost and can be looked up fairly easily when the need arises.

Source

Increased Productivity

 

Organizing a large group of people is cumbersome work for any manager out there. This is why, with the advent of technology, organizing your workers and co-workers has never been as simple as it is today. Project management tools allow everyone involved in the project to keep track of what exactly is going on it at all times. Tasks and sub-tasks are assigned to specific employees so there can be no confusion about what needs doing.

Consequently, this enables everyone to be on the same page both literally and metaphorically, as everything necessary is kept in a single virtual office. Moreover, the location of the employees doesn’t really matter, they could be half a world away and they could still work on the same project and the same boss could oversee their work as if they were all present in the same office.

Lastly, because communication is so rapid and data transfer made so accessible, businesses can use technology to their advantage and outsource some of their workload to other companies. This way, businesses can focus all of their efforts on growth rather than investing money into building their own in-house departments for certain services. Data storage and IT service companies are just one of the many examples where businesses can offload their extra workload because it’s made a lot cheaper by technology.

All in all, we’ve yet to see the full impact of technology on business communication. What we’ve seen so far is just the beginning of technology’s true potential. New innovations will surely make communication cheaper and more enjoyable as is the case so far.

 

About the Author:

 

David Webb is a Sydney-based business consultant,online marketing analyst and a writer. With six years of experience and a degree in business management, he continuously informs the public about the latest trends in the industry. He is a regular author at BizzmarkBlog. You can reach him on Twitter or Facebook.

Top Reasons Why You Should Opt for an Online Education

It’s true that an online education isn’t the best option for everyone, but did you know that a lot of students thrive in an online environment? Here are some reasons why online education might be the right route for you.

 

Studying Online

When you study online, you are given the chance to choose from a huge variety of schools and programs as well. There is a chance that you don’t live anywhere near schools that offer the course that you want, or even courses that you are interested in. This is especially the case if you live in a rural area, so online courses can give you the chance to really expand your bank of knowledge.

Take a masters in public safety course for example. It’s an essential degree for a huge range of jobs, yet not many universities have it available for their students.

https://www.pexels.com/photo/notes-macbook-study-conference-7102/

 

Flexibility

When you opt for an online education, it can give you a level of flexibility that cannot be compared to a standard university setting. You can find an online program that works around your schedule, and some courses give you the chance to set your very own weekly schedule as well.

If you struggle to stay organized when it comes to getting work in on time or even when taking your books to university, you don’t have to worry about this at all because when you study online, you can do it all from the comfort of your own home.

 

Networking Opportunities

 

Students who enroll in an online education usually end up meeting people from all around the world. When studying online, you don’t have to feel isolated at all and can even work with other people as well to try to get your studies done.

You can develop excellent references by doing this and also benefit from the huge range of educational resources that are available.

 

Savings

Online education is usually much cheaper when compared to traditional schooling. Virtual programs are ideal, and if you are an adult who is looking to go back to university then they are a great choice. They are also a great choice if you already have some student debt, because usually you pay one flat fee and then the rest of the course is paid for.

https://www.pexels.com/photo/blur-cash-close-up-dollars-545065/

 

Pace Yourself

 

Most online educational programs give you the chance to work at a pace that suits you. A lot of students love this because it means that they don’t have to follow the traditional pace of the other students. It also means that they can study at their own pace without getting left behind or even bored with the existing material.

So, online education is certainly a brilliant way for you to really make the most out of your education options, and you just might be surprised at how easy it is for you to benefit from everything that they have to offer. Not only are online courses very affordable, but they are a great way for you to step things up to that next level while also enhancing your career prospects for the future.