What type of bar is most profitable?
In fact, small bars can be just as profitable as larger ones with a solid marketing strategy. Operating costs are lower in a smaller space. Profits for smaller bars average around $900.
The average monthly bar revenue is $27,500. Average monthly expenses are $24,200. That leaves about $39,600 annual net profit.
Maximizing Profits
A few ways to maximize profits:
- Partner with local businesses to reach new customers.
- Focus on customer experience with personalized service, events or live music, and signature drinks.
Consider your target audience and local competition when setting prices. With creativity and careful planning, a small bar can be a profitable and rewarding business.