Small salsa bar with weekly dance nights

Dancers, couples, groups of friends and tourists who pay for drinks and, on event nights, a cover charge or lesson ticket.

Drink sales are the main income. Add door entry or lesson tickets, private function hire, dance class hire and some food or snacks.

• Running a bar and managing staff
• Knowing the Latin dance scene and its community
• Marketing and social media
• Budgeting and stock control

• Liquor licence rules and approval times differ by state and territory, so check with your state's licensing body early
• Council planning or development approval, noise limits, trading hours and venue capacity, so check before signing a lease
• Music licensing for playing recorded or live music publicly, so check what you need from OneMusic Australia
• Responsible service of alcohol training for you and your staff, and any security or crowd controller licence rules in your state
• Public liability and other insurance, plus workers compensation once you hire staff
• High fixed costs such as rent, wages and fit-out, and a slow start while you build a regular crowd

Startup costs are typically around $120,000 to $500,000, depending on the premises, fit-out and how you set up the bar and dance floor. Fixed costs such as rent and wages are high, so test your numbers carefully.

Check liquor licence rules and approval times with your state's licensing body early. Also check council planning approval, noise limits, trading hours and capacity, music licensing through OneMusic Australia, and responsible service of alcohol and crowd controller rules.

Monthly revenue is typically around $40,000 to $150,000, depending on location, opening nights and the crowd you build. Expect a slow start while you build a regular crowd, and plan for high fixed costs.