The lucrative and dynamic nightclub industry is one that many business owners strive to be in. However, this sector is not without its inherent risks. But, if you’re an aspiring entrepreneur and you enjoy late nights, hosting, and socializing, then this is the perfect venture for you. In addition to securing the right NM Hospitality Insurance program, here are some tips to ensure your new nightclub is a success.
Create a concept.
Implement a fresh concept or theme for your nightclub- the more unique the better. Hire a professional to style and furnish the nightclub to your liking as this will either make or break the success of your club.
Keep the bar stocked.
Alcohol is a major revenue-booster for the nightclub industry and you’re only limited to what you have in stock to sell. While some clubs choose to only keep a few different liquors fully stocked, offer something for everyone. The more variety you have, the bigger demographic you can appeal and sell to!
Keep it professional.
While it may be easy to have fun at work, it’s important to remember to treat the nightclub as your business and not a hobby. Ensure employees are well-trained, don’t over pour drinks, carry the right insurance protections, price the menu and drinks properly, and follow health codes.
Promote your business.
Consider advertising on the radio, on television, in the paper and online. Many bars also use cross promotional strategies and work with other businesses, says Small Business Chronicle. This will help you develop regular customers, so be diligent.
At Daniels Insurance, Inc., we specialize in protecting the hospitality industry. Our policies are specially crafted to protect against the various exposures you may face including workers’ compensation, employment practices liability, liquor liability, food contamination and more. For more information about our products, contact us today at (855) 565-7616.