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Alix McEntegart has a solid background in café and restaurant management but the decision to buy a bar was a little outside of her area of expertise. A risky decision and not one that she took lightly.
Through a sound combination of skills, knowledge, some outside expertise and a touch of luck, Alix was able to take an existing business – a bar in the entrance of a former cinema in Pt Chevalier built in 1929 – rebrand and repaint it, and change its vibe.
It’s now Cupid Bar, an intimate local bar which she describes as has having a classy yet somewhat dive bar feel about it, attracting a diverse mix of locals and visitors, artists, actors, professionals and people from all walks of life.
Alix’s hospitality experience has stood her in good stead. She’s solidified this with a couple of short business and entrepreneurship courses. Her fine arts degree has also made its mark on the business which she says “gave me self direction and knowing how I could transform the space and make it my own.”
Alix runs a tight ship, operating the 5 day a week business by herself with 1-2 part time employees helping out. But she’s always been more than prepared to put in the hard yards.
It’s a lot of work but it wasn’t a shock or a surprise.
It was during the purchase of the business that Alix first sought outside expertise. Finding The Accounting Hub through an online search, Alix immediately liked the feel of the company.
The Accounting Hub seemed young, fresh and contemporary. I wanted an accountant I could trust. They were really helpful with the sale and purchase agreement, making sure it looked good from a monetary point of view.
I knew I was taking a risk buying the business, a massive risk. They understood and were willing to back me at crunch time. I really appreciate that.
With help from Xero, Alix manages the financial side of the business, including invoicing, making payments and payroll. The Accounting Hub steps in on a two-monthly basis, or as needed, to assist with GST returns and end of year financials.
If it wasn’t for Xero I would be a mess!
After a year and a bit of operations, things are getting easier for Alix. She’s getting systems in place and has a full day off each week.
The next step is finding the right work-life balance and, with Andrew’s guidance, Alix is figuring out how much she needs to make for an ideal life structure.
It’s very consuming but fun and rewarding.