Sports Bar Management
A sports bar represents a business that could not only be a blast to manage, but also an incredibly profitable endeavor. Yet, at the same time, there is also a significant amount of risk involved in such a business and efficient and effective management is a critical success factor in overcoming any obstacles that are created by the risks in the industry and the local environment. Furthermore, there is a high failure rate associated with the industry based on the associated risks. According to a frequently cited study by Ohio State University on failed restaurants, 60% do not make it past the first year, and 80% go under in five years (Feloni, 2014). There are many factors that can account for the high failure rates of small restaurant and bar businesses, however mis-management is commonly cited near the top of most lists. The most common reasons why failure rate increase in the beginning of the business (Aida, 2015):
Low start-up capital
Poor knowledge about competition
Wrong Location
Poor restaurant promotion
Inconstant offer
The bad partnerships relations
Poor inventory and staff management
The lack of original ideas
Many aspiring sports...
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