Watch How to use a Bar and Lounge Business Plan

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Video Transcript

Introduction

Hey all, my name is Paul Borosky, and I am the owner of Quality Business Plan. Today, I’m going to show y’all how to use my Bar and Lounge Business Plan Template.

What the Template Includes

The template includes a customizable Word document and a financial model in Excel.
You can insert your bar or lounge name, add drink/menu information, and use the provided format and industry research. The Excel model includes temporary financial projections you can update; then copy/paste results into the Word template.

Purpose of This Video

I’ll show you how to use the Word document and the Excel file that comprise my bar and lounge template. Based on client feedback and my experience, you should be able to update the plan within about 30 minutes for landlords, small loans, or sharing with friends/family. You can later expand it for investors.

About Me

I’m a professional business writer who loves writing business plans. If customizing feels heavy, call, text, or email me—I’ll gladly write it for you.
Prefer DIY? Check out my books on Amazon about business plans.
I’m also an adjunct professor and subject matter expert in business and finance—I can help with financial projections as well.

Using the Word Template

• Title Page: Add your business name and logo.

• Find/Replace: Use Ctrl+F → Replace to switch “bar and lounge” to just “bar” or “lounge,” if needed.

• Table of Contents: After edits, click Update Table → Update entire table to refresh page numbers.

Executive Summary

Update highlighted areas: company name/structure, location (city/state; street optional), owner, beverage/food items, target market, financial highlights, and funding request. Generic numbers are provided and explained later in the financials section.

Company Description

Ensure it aligns with the Executive Summary.
Add menu details (e.g., craft beer, wine, mixed drinks—list a few like Mai Tai or Sangria).
Competitive advantages are generic placeholders—replace or remove as needed.
Define primary target market (e.g., radius or tourists), pricing strategy (benchmark competitors), hours, location size/layout, and front/back-of-house split.

Objectives & Timelines (1–3, 3–6, 6–12 Months)

Start with 6–12 month outcomes, then work backward to 3–6 and 1–3 months so milestones ladder up logically. I can formalize this in a custom plan if you’d like.

Industry Analysis

A concise one-page summary (based on IBISWorld) is included in some versions—generally no changes needed.

SWOT Analysis

Provided at a general level:

• Strengths: management experience

• Weaknesses: startup status

• Opportunities: community involvement, festivals

• Threats: local competitors, economic downturns

Organizational Structure

Note your legal structure (LLC, corporation, etc.).
Generic job descriptions (CEO, GM, bartenders, servers/assistants) are included—add/remove as needed.
Update the organizational chart by clicking the chart and editing labels.

Marketing Plan

Three-part approach: traditional (signage, word-of-mouth), internet (website), and social (Instagram, X/Twitter, Facebook). Adjust channels to fit your market.

Funding Request

A placeholder (e.g., $200,000) is included—change as needed.
For loans, list a range for term (e.g., 15–30 years) and the anticipated interest rate.

Financial Projections (Word ↔ Excel)

The Word file includes monthly/quarterly Year 1 and Years 1–5 summaries.
If you change numbers in Excel, remember to copy/paste updated Quarter 1–4 tables and the Income Statement back into Word.

Excel Model — Key Inputs

• Daily Revenues: Average ticket (e.g., $16), customers/day (e.g., 80), COGS % (e.g., 25%), operating days/week.

• Labor: Owner salary, manager/bartenders/other; hour assumptions (172 ≈ 40 hrs/week; use 86 for part-time). Consider bumping hourly pay to cover taxes.

• Startup Funding: Equity and Loan amounts; set interest rate and term to auto-calc payments and interest expense.

• Startup Costs: Buildout, working capital, FOH/BOH equipment, inventory/supplies, advertising, office, licenses, miscellaneous.

• Monthly Fixed Costs: Rent, utilities, insurance, etc. The chart auto-updates for easy copy/paste into Word.

• Growth Rates: Defaults are fine unless you have better assumptions.

Download & Unzip After Purchase

You’ll receive an email receipt with a Downloads link.
Download the ZIP, unzip to a folder (e.g., Bar and Lounge Templates), and you’ll see the Excel model and Word template ready to use.

Closing

If this tutorial helps, please like the video.
If you want a professional business plan or financial projections, call, text, or email me—my contact info is on the screen.
As always, have a fantastic day—thank you!

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