How to start a speakeasy bar business


how to start a speakeasy bar business plan template

Are you interested in starting your own Speakeasy Bar Business?

In the early days of alcohol prohibition in the United States, many people turned to illegal speakeasies to get their fix. These hidden bars were often located in secret locations, and patrons had to know the right password or handshake to get in. Today, speakeasies are making a comeback as people are looking for unique and upscale drinking experiences. If you're thinking about starting your own speakeasy bar business, there are a few things you need to know. First, you'll need to find a suitable location. This is probably one of the most important aspects of starting a speakeasy bar. The location should be hidden or difficult to find, but not so hidden that people can't find it. You'll also need to make sure that the location is large enough to accommodate your expected crowd. Once you've found the perfect location, you'll need to start stocking your bar. This includes everything from the alcohol to the glassware. Be sure to choose a good selection of spirits, as well as mixers and garnishes. Next, you'll need to create a unique atmosphere for your speakeasy. This includes everything from the decor to the music. You'll want to
Business Plan
If you're thinking about starting a speakeasy bar business, the first thing you need to do is create a business plan. This will help you figure out the feasibility of your business, set goals and objectives, and map out a path to success. To get started, you'll need to research the speakeasy bar industry and come up with a unique concept for your business. Once you have an idea of what you want your speakeasy to be, you can start putting together your business plan. Your business plan should include an executive summary, a market analysis, a competitive analysis, a description of your business concept, a management plan, and a financial plan. The executive summary is a brief overview of your business plan. It should include your business name, location, and a brief description of your concept. The market analysis should include information on the size of the speakeasy market, the target market for your business, and the competition you'll face. The competitive analysis should identify your competitors and their strengths and weaknesses. This will help you determine how to position your business in the marketplace. The description of your business concept should include the name of your speakeasy
Target Market
Your target market for a speakeasy bar business are people who are looking for a place to drink that is unique and has a feeling of exclusivity. This could be people who live in a city and are looking for a bar that is different from the typical bar scene. It could also be people who are looking for a place to have a private event or party.
Business Model
There are a few different ways that you can go about starting a speakeasy bar business. The first option is to find an existing bar that you can lease or purchase. This option is typically the most expensive, but it does have the advantage of already having a built-in customer base. Another option is to start your own speakeasy from scratch. This option is less expensive, but it will take more work to get your business up and running. You will need to find a suitable location, build or renovate your space to fit your needs, and market your business to attract customers. Whichever route you choose, there are a few key things that you will need in order to make your speakeasy successful. First, you will need a liquor license. You can typically get this through your local government. Second, you will need to create a unique and inviting atmosphere. This includes everything from the décor to the music to the menu. Finally, you will need to hire staff who are passionate about giving your customers a great experience..
Competitive Landscape
When you’re planning to open a speakeasy bar, it’s important to understand the competitive landscape. Who are your potential customers? What do they want? How much are they willing to spend? To get a better understanding of the competitive landscape, start by doing some research. Talk to people who have been to speakeasy bars, read online reviews, and visit potential locations. This will help you get a feel for what’s out there and what you need to do to stand out from the competition. Once you have a good understanding of the competitive landscape, you can start planning your own speakeasy bar. Keep in mind what your potential customers want and make sure your bar has something unique to offer. If you can provide a great experience that’s different from what’s out there, you’ll be sure to attract customers and build a successful business.
Costs & Pricing Strategy
One of the most important aspects of starting a speakeasy bar business is creating a pricing strategy. This will help you determine how much to charge for your drinks and other services, and will ultimately determine your profitability. There are a few things to consider when developing your pricing strategy:
1. Cost of goods: This includes the cost of the alcohol you'll be serving, as well as any mixers, garnishes, and other supplies. Be sure to factor in the cost of shipping and handling when ordering your inventory.
2. Operating costs: These are the costs associated with running your business, such as rent, utilities, and staff salaries.
3. Marketing costs: You'll need to budget for marketing and advertising expenses, which can include everything from print and online ads to promotional events.
4. Regulatory costs: Depending on the state and city where you're located, there may be licensing and permit fees associated with opening a speakeasy bar. Be sure to research these costs in advance.
5. Competition: Take a look at what other speakeasy bars in your area are charging for their drinks and services. You'll need to price your own offerings competitively in order to
Forming a Legal Entity
If you want to start a Speakeasy Bar business, you will need to form a legal entity. This will protect you from personal liability and help you raise money for your business. You can choose to form a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each type of entity has its own pros and cons, so you will need to choose the one that is right for your business. If you are the only owner of your business, a sole proprietorship may be the best option. This type of business is easy to set up and you will not have to deal with much paperwork. However, sole proprietorships offer no personal liability protection, which means that you could be held responsible for debts incurred by your business. Partnerships are similar to sole proprietorships in that they are easy to set up and offer no personal liability protection. If you decide to form a partnership, you will need to choose a business partner who you can trust and who has complementary skills. It is important to have a written partnership agreement that outlines each partner's roles and responsibilities. A limited liability company (LLC) offers personal liability protection and is a good option for a small group of founders.
Opening a Business Bank Account
When you’re ready to start your Speakeasy Bar business, one of the first steps is to open a business bank account. This will help you keep your personal and business finances separate and will make it easier to track your expenses and income. To open a business bank account, you’ll need to have the following information and documents:
-Your business name and address
-Your Social Security number or Employer Identification Number (EIN)
-A list of the owners, officers, and directors of the company
-Articles of incorporation or a business license
-A voided check or deposit slip from the account you’ll be using for your business
Once you have all of the required information and documents, you can visit your local bank or credit union to open a business checking account.
Setting up Business Accounting
If you're starting a Speakeasy Bar business, one of the first things you need to do is set up your business accounting. This will ensure that you're keeping track of your finances and that you're complying with any financial regulations that apply to your business. Here's a quick guide to setting up your business accounting:
1. Choose an accounting software. There are many different accounting software packages available, so do some research to find one that will suit your needs.
2. Set up your chart of accounts. This is a list of all the categories of income and expenditure that you will track in your accounting system.
3. Set up your bank account. You will need a business bank account to manage your finances effectively.
4. Keep track of your income and expenditure. Make sure you keep accurate records of all money coming in and going out of your business.
5. Prepare and file your tax return. Once a year, you will need to file a tax return for your business. Make sure you keep on top of this so that you don't miss the deadline
Setting up Business Insurance
As a business owner, it is important to protect your company with the proper insurance. When setting up a Speakeasy Bar business, you will need to consider the following types of insurance:
-Product liability insurance: This will protect you in the event that a product you designed and printed causes injury or damage.
-Professional liability insurance: This will protect you in the event that a client suffers damages as a result of your work.
-Business property insurance: This will protect your equipment and premises in the event of damage or theft.
-Business interruption insurance: This will protect you in the event that your business has to stop operations due to a covered event.
-Employee dishonesty insurance: This will protect you in the event that an employee steals from your business.
Speak with an insurance agent to determine which policies are right for your business
Setting up a Business Website
If you want to start a Speakeasy Bar business, one of the first things you need to do is set up a website. This will be your online home base, where potential customers can learn more about your business and what you have to offer. There are a few key things you need to include on your website:
-An About page: This is where you can tell your story and give potential customers a sense of who you are and what you stand for.
-A portfolio: Showcase your best version on your website so that potential clients can see your work.
-A contact page: Make it easy for people to get in touch with you by including your email address and/or social media links.
-Pricing information: Let visitors know how much you charge for your services.
By having a well-designed website, you’ll be able to attract more customers and grow your Speakeasy Bar business
Obtaining the Necessary Permits
If you want to open a speakeasy bar, the first thing you need to do is obtain the necessary permits. Depending on your location, this may require a liquor license, a business license, and other permits. You will also need to make sure your bar complies with all fire and safety regulations. Once you have all the necessary permits, you can start looking for a location for your bar.
Setting up a Business Number or Appointment Setter
When you’re ready to start your Speakeasy Bar business, one of the first things you need to do is set up a business phone number or an appointment setter. You can use a service like Google Voice to set up a business phone number for your Speakeasy Bar business. Google Voice will give you a free business phone number that you can use to make and receive calls. Once you have a business phone number, you can start taking calls from potential customers. When you get a call, be sure to take down the customer’s name, contact information, and what they need. Once you have this information, you can give the customer a call back to discuss the project in more detail and give them a quote.
If you're interested in starting your own speakeasy bar business, there are a few things you should keep in mind. First, research the competition and make sure you have a unique selling proposition. Next, create a detailed business plan including your start-up costs, operating expenses, and projected revenue. Finally, get the necessary licenses and permits to operate your business legally. With careful planning and execution, you can be on your way to success in the speakeasy bar business.

Why write a business plan?

A business plan is a critical tool for businesses and startups for a number of reasons:
  • Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
  • Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
  • Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
  • Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
  • Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the market.
  • Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
  • Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
  • Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
  • Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
  • Business plans allow you to position your brand by understanding your company’s role in the marketplace.
  • Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
  • Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.

Business Plan Content


Many people struggle with drafting a business plan and it is necessary to ensure all important sections are present in a business plan:
  1. Executive Summary
  2. Company Overview
  3. Industry Analysis
  4. Consumer Analysis
  5. Competitor Analysis & Advantages
  6. Marketing Strategies & Plan
  7. Plan of Action
  8. Management Team

The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.

Instructions for the Business Plan Template

To complete your perfect Speakeasy Bar business plan, fill out the form below and download our Speakeasy Bar business plan template. The template is a word document that can be edited to include information about your Speakeasy Bar business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

Ongoing Business Planning


With the growth of your business, your initial goals and plan is bound to change. To ensure the continued growth and success of your business, it is necessary to periodically update your business plan. Your business plan will convert to a business growth plan with versions that are updated every quarter/year. Avvale Consulting recommends that you update your business plan every few months and practice this as a process. Your business is also more likely to grow if you access your performance regularly against your business plans and reassess targets for business growth plans.


Want a Bespoke Business Plan for your Speakeasy Bar Business?

Our Expertise


Avvale Consulting has extensive experience working with companies in many sectors including the Speakeasy Bar industry. You can avail a free 30-minute business consultation to ask any questions you have about starting your Speakeasy Bar business. We would also be happy to create a bespoke Speakeasy Bar business plan for your Speakeasy Bar business including a 5-year financial forecast to ensure the success of your Speakeasy Bar business and raise capital from investors to start your Speakeasy Bar business. This will include high-value consulting hours with our consultants and multiple value-added products such as investor lists and Angel Investor introductions.


About Us


Avvale Consulting is a leading startup business consulting firm based in London, United Kingdom. Our consultants have years of experience working with startups and have worked with over 300 startups from all around the world. Our team has thousands of business plans, pitch decks and other investment documents for startups leading to over $100 Million raised from various sources. Our business plan templates are the combination of years of startup fundraising and operational experience and can be easily completed by a business owner regardless of their business stage or expertise. So, whether you are a budding entrepreneur or a veteran businessman, download our business plan template and get started on your business growth journey today.