Bars & Nightclubs Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 1/17/2023
SIC Codes: 5813
NAICS Codes: 722410
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Bars & Nightclubs Industry Profile

Companies in this industry sell alcoholic beverages for on-premises consumption and may also offer limited food service. The industry mostly consists of small, single-location businesses, as inconsistent liquor laws make it harder to operate establishments in multiple states or countries. Some larger US-based bar chains include McMenamins, Winking Lizard Tavern, and World of Beer. Top-grossing nightclubs LAVO Nightclub, Marquee Nightclub, and Tao Downtown Nightclub each have locations in New York City and Las Vegas. Leading companies in the less-fragmented UK market include pub operators Punch Pubs & Co and Stonegate Group, as well as the nightclub chain REKOM UK.

Bars and nightclubs market is forecast to reach over $30 billion at a compound annual growth rate (CAGR) of 5.09% between 2022 and 2027, according to Technavio. The increasing number of pubs and bars drives the market growth as the urban population worldwide has increased by more than 4% over the past ten years, according to the United Nations Conference on Trade and Development (UNCTAD).

The US bar and nightclub industry includes about 40,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $24 billion.

COMPETITIVE LANDSCAPE

Personal income and entertainment preferences drive demand. The profitability of individual companies depends on the ability to drive traffic and develop a loyal clientele. Large companies can offer a wide variety of food, drinks, and entertainment, and have scale advantages in purchasing, ...

 
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