Economics behind high-end nightclubs?
I noticed that the typical lifespan for clubs in Chicago/NYC usually doesn't last more than a couple of years.. However, the most exclusive venues in Vegas have been around for a while and they gross over $30-50 m annually.
What are the biggest challenges and keys to success in this highly competitive industry? Any idea on the typical start up capital requirements and operating costs (specifically licenses/permits)?
Did anybody of you monkeys or somebody you know had some success operating this business/investing in it?
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