Opening a daiquiri bar is an exciting venture. There are many things to consider, from the licensing and permitting process to the layout of the daiquiri bar.
This article will walk you through the entire process, from start to finish. Here are the nine steps you can take to build a daiquiri bar.
Nine Steps to Launching a New Daiquiri Bar
1. Name Your Daiquiri Bar
Give your daiquiri bar an identity so people will consider it a well-known and respected brand. You can take the name of your daiquiri bar from your industry, focus on a geographical location, or use your name, among other options.
The main goal of naming your daiquiri bar is to make it sound appealing and trustworthy so people will visit it.
2. Determine Your Daiquiri Bar Business Model
There are several possible types of business models for a daiquiri bar, including:
- Daiquiri bar that serves food
- Daiquiri bar that does not serve food
- Restaurant with a daiquiri bar
- Daiquiri bar that has live music
No matter which model you choose, ensure that it aligns with your business goals and the services you offer.
3. Choose a Legal Form for Your Business
By incorporating your daiquiri bar business, you will limit your liability. You can incorporate as a Limited Liability Company (LLC), a C Corporation (C-Corp), or an S Corporation (S-Corp). Or you can operate as a sole proprietorship.
The business structure you choose for your daiquiri bar business will determine the taxes you pay and which state or federal tax forms you need to file.
Read our article comparing the most common daiquiri bar business structures.
4. Write a Daiquiri Bar Business Plan
All daiquiri bar business owners should develop a business plan.
A business plan is a document that outlines the goals, strategies, and operations of a business. It can be used to secure funding from investors or lenders, as well as to guide the day-to-day operations of the business. The business plan should include information on the company’s products or services, market analysis, financial projections, and management team.
Read our article about how to write a daiquiri bar business plan.
5. Apply for the Necessary Permits and Licenses
You may need to obtain required licenses and permits before launching your daiquiri bar.
For example, you will need to obtain a liquor license. The process for obtaining a liquor license can vary from state to state.
You will also need to get a business license, which you can get from your local city or county clerk’s office.
You must also register your daiquiri bar as a legal entity with the state where you plan to do business. You can simply file an online form through your Secretary of State website.
Registering with the federal government is also essential so you can properly pay taxes for your business. You will also need an Employer Identification Number (EIN), which you can apply for at the IRS website, if you plan to hire employees.
Read our article about obtaining the proper daiquiri bar business licenses.
6. Determine Your Budget and Apply for Funding as Needed
In developing your daiquiri bar business plan, you will figure out how much funding you need to start and grow your business.
If you have your own funds to invest in your daiquiri bar, you may consider taking advantage of that. In addition to your personal funds, other forms of potential funding for your daiquiri bar include traditional bank loans, SBA loans, credit cards, angel investors and family and friends.
Read our article about the costs associated with starting a daiquiri bar to help you determine if funding is needed.
7. Get the Technology and Software Needed to Run Your Business Efficiently
When you start your daiquiri bar, it’s essential to have the right technology in place to maximize efficiency. You definitely need a computer with Internet access, and accounting software for tracking expenses and revenues.
You may also want to invest in bar management software to help you with tasks like inventory management and employee scheduling.
8. Market Your Daiquiri Bar to Potential Customers
Before you start selling your services, you have to let the world know you exist. The first step is to create a website so people can learn more about your services and how they benefit them.
After you launch your website, start promoting it through social media channels like Facebook, Instagram, and TikTok. Also consider networking with other people in the bar industry through social media and blogs so they can help share your business.
You also need to start gathering the materials needed to execute on your promotions strategy, which is your strategy for attracting new customers. Daiquiri bars should consider the following promotional strategies for which you should start getting prepared:
- Developing a database of potential customers
- Designing and distributing print materials like menus and flyers
- Organizing special events or promotions
- Advertising in local publications
- Engaging in online marketing efforts
Read our article about how to market your daiquiri bar for more tips.
9. Get New Customers and Grow Your Business
When you promote your services, you’ll start to get interest from potential customers.
Make sure you’re ready to serve these customers. Also, be sure to establish systems to ensure consistency and reduce costs. And be sure to find and train the right people to help you grow your daiquiri bar.
Read our article about how to effectively grow your daiquiri bar to learn more.
Starting a Daiquiri Bar FAQs
Why Start a Daiquiri Bar?
The barriers to entry for starting a daiquiri bar are relatively low, which makes it a great option for entrepreneurs. Additionally, bar demand is always high, since people love socializing and drinking alcohol.
What is Needed to Start a Successful Daiquiri Bar?
To start a successful daiquiri bar, you need to have a strong business plan, the right location, the right technology and software, a good marketing strategy, and the right people working for you.
How Can I Start a Daiquiri Bar From Home?
If you want to start a daiquiri bar from home, the first step is to develop a business plan. Then, you need to find the right location for your daiquiri bar and get the necessary technology and software in place. After that, you must market your business to potential customers and get new ones.
How Can I Start a Daiquiri Bar Online?
The first step to starting a daiquiri bar online is to develop a strong website. Then, you need to promote your website through social media and other channels. You also need to gather the materials needed to execute your promotions strategy, which is your strategy for attracting new customers. Finally, you need to start getting new customers and growing your business.
The most important things to consider when starting a daiquiri bar is your business plan, location, technology and software, marketing strategy, and people.
What are Some Tips for Starting a Daiquiri Bar?
Some tips for starting a daiquiri bar include finding the right location, getting the right technology and software, developing a strong marketing strategy, and hiring the right people.
When starting a daiquiri bar, you also need to have a strong business plan, the right location, the right technology and software, a good marketing strategy, and the right people working for you.
Where Can I Find a Simple Checklist for Starting a Daiquiri Bar?
A simple checklist to use when starting a daiquiri bar is as follows:
- Name Your Daiquiri Bar: This should be done with care, as your brand is important for attracting the right customers. A simple, memorable name will go a long way.
- Choose a Legal Form for Your Business: Whether you choose to become a sole proprietorship, partnership, LLC, corporation or another option will depend on your business. Ensure that you are aware of all the implications of each type.
- Determine Your Daiquiri Bar Business Model: Determine how your business will make money. Will you sell products, services, or a combination of both?
- Write a Daiquiri Bar Business Plan: Your business plan will also help you determine what your start-up costs will be and will provide a roadmap with which you can launch and grow.
- Apply for the Necessary Permits and Licenses: In most locations you will be required to apply for a business license and/or permits before you can begin operations.
- Determine Your Budget and Apply for Funding as Needed: You will need to know how much money you have to spend on all of your business-related expenses before opening any doors. If needed, apply for a small business loan or other funding options.
- Get the Technology and Software Needed to Run Your Business Efficiently: You need the right tools to succeed. Implement software that will help you manage your time, contacts, and business operations in general.
- Market Your Daiquiri Bar to Potential Customers: A solid marketing plan will be crucial to your success. It should focus on attracting the right customers so that you can provide them with the services they truly need.
- Get Customers and Grow Your Business: Once you have a solid marketing plan, it's time to actively pursue and secure those who could benefit the most from your services.
Summary
Opening a daiquiri bar can be a lucrative and exciting business venture. There are many things to consider when opening a daiquiri bar, such as naming your business, writing a business plan, getting the necessary permits and licenses, and marketing your business.
With the proper planning and execution, you can open a successful daiquiri bar that attracts customers and helps you grow your business.