Last-minute checks to ensure your small bar is ready for opening.
Are you all set to open your small bar? While you may have everything in place, there could be a few key considerations that you’re missing. Ensure that you are set and your business is well-protected before opening those doors.
Know Your State’s Quirks
Every bar in the U.S. must apply to sell alcohol through the federal Alcohol and Tobacco Tax and Trade Bureau, but each state has its own permits and requirements. Read up on what your state requires and ensure that all is in order before you think about opening the doors.
Make Your Business Official
Many bar owners go into business with family and friends and want to keep it casual. However, experts recommend you take it as seriously as any other business relationship. If you’re going in with partners, the owners’ individual lawyers should work out the arrangement together. What’s more, consider making your bar company into a limited liability company. If you don’t, you may be leaving your personal assets at risk if you’re sued or default on a business debt.
Put Clear Policies in Place
Without proper training and policies in place, you’re in trouble if an employee attempts to sue for a hostile work environment or other concern. Along with policies, ensure that each member of staff goes through suitable training and signs an employee handbook. This helps you to create a paper trail to cover all of your bases.
Secure Liquor Liability Insurance
When you operate any business that involves the sale of alcohol, you will need liquor liability insurance. There is a wide range of risks that expose your business to liability and third-party claims of bodily injury or property damage. Luckily, liquor liability can provide you with defense coverage and claim reimbursement.
By simply following state law, such as only serving to those above the legal drinking age and serving alcohol to someone who is intoxicated, you will protect yourself against most claims. However, despite your best efforts to serve alcohol in a purely legal fashion, liquor liability insurance is extremely important for a bar, tavern or restaurant. This insurance will cover not only a substantiated claim made against your business, but also legal fees associated with a groundless claim.