According to the market analysis by Technomic’s BarTAB, in 2013 the top 100 Nightclub & Bar venues generated $1.5 Billion in revenue. Moreover, two-thirds of the clubs reported revenue growth in excess of 10%, outperforming every other sector of the drinking establishment industry. For the savvy entrepreneur, socialite and night owl, this represents a great opportunity. If you’re thinking about starting your own night club, there are some things to consider:
1. Define your Concept: What’s going to set your club apart from the others? Take some time to outline a concept that will cater to your target demographic. For example, in Las Vegas, the club TAO has an asiatic decor, The Bank looks like an underground vault, and Encore Beach Club has the classic red and white stripes that create a pool party atmosphere.
2. Create a Business Plan: Opening a nightclub isn’t cheap. Between alcohol, promotions, staff, and real estate, it can add up quick and having an organized business plan to outline your prices, financials, marketing efforts, short and long term goals, and everything in between will serve as a reference to keep you above the day-to-day clutter. Don’t know how to write a business plan? Don’t sweat it, there are plenty of great online resources to help you through the process, like this one from the Small Business Administration.
3. Marketing: The digital age has made advertising easier and more cost efficient. Most nightclubs design websites with matching decor, like The Bank’s website here. Social media sites like Facebook, Yelp, Twitter, and Instagram will help spread the word with photos and reviews. First things first, you need a catchy, memorable name. Here’s some nightclub names we found:
The Emerson Theatre
Greystone Manor Supperclub
The Office Club
The Office Club
The Conga Room
Club Monte Cristo
No Filter Nightclub
The Crocker Club
‘Nightclub’ interest over time:
The truth is, naming a business can be frustrating and downright time consuming…
Your company name is important, there’s no doubt about that, but it’s really something you need to ‘get out of the way’ so you can focus on the nuts and bolts of the business. So the question is…
“How do these companies get such good names?”
One option is hiring a ‘boutique’ branding agency to handle this critical step, and this does NOT come cheap. Some of these branding agencies charge as much as $100,000 for a brand that SELLS tons of product…
Does it work?
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This is what they WANT you to think:
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