Neighbourhood bar in your own premises

Local residents, after-work groups, friends meeting up and people on a night out.

Customers pay for each drink. Your profit is the gap between what you pay suppliers and your menu prices, minus rent, staff, utilities and licence costs. Events and good food-and-drink pairings can lift the average spend.

• Customer service and hosting
• Managing stock and cash
• Hiring and managing staff
• Local marketing

• A premises licence and a designated premises supervisor with a personal licence are usually needed in England and Wales. Scotland and Northern Ireland have different rules, so check with your council
• Planning use class, opening hours and noise rules, so check with the council before signing a lease
• Fire risk assessment, food hygiene registration if you serve food, and music licensing if you play music
• Public liability insurance, employer's liability insurance once you hire, and business rates
• Long hours, tight margins and a high cost of failure if the lease is long, so check lease terms carefully

Startup costs are typically around £40,000 to £200,000, depending on the unit, fit-out and stock. Monthly revenue is typically estimated at £15,000 to £60,000, depending on location, opening hours and events. Check lease terms carefully before committing.

A premises licence and a designated premises supervisor with a personal licence are usually needed in England and Wales. Scotland and Northern Ireland have different rules, so check with your council. Also check planning use class, opening hours and noise rules.

Estimates suggest from around 40 hours a week, often with long hours. You will need customer service, stock and cash management, staff management and local marketing skills. Also check fire risk, food hygiene, music licensing and insurance requirements.