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This is more complicated that you think, and every bit as important as other aspects of the business. Your bar's name will be its living advertisement, the embodiment of what it's all about. Make sure that it connects with customers on a visceral level, telling them what the bar is about while sounding intriguing at the same time.  Make sure your name exemplifies your theme. If you're a trendy wine bar, you probably don't want to adopt the name "Bill's Place" — peoples' ideas about what the bar is about won't conform to what it actually is. Don't be afraid to research the possibilities. Spend a lot of time thinking about what kind of customers you want to attract, and what people might expect given the name. Don't stop coming up with names until you've gotten at least three names that you love; then, decide between the three. If you're going to serve food or quality cocktails, spend a little extra on the ingredients; fresh is always better. Try to make your bar menu fit along with the theme of the bar, if it has one. A bar with a Mexican theme would be remiss not to have tequila, margaritas, or cervezas. Consider making a happy hour menu. The bottom line on your profit won't be as high, but clientele will definitely increase, and some customers will probably stay even after happy hour has passed. Pool tables, dart boards, and touch screen or arcade style games can offer distractions to people while they drink. Think about getting a jukebox and a change machine, especially if your bar is a neighborhood establishment.  Usually the profits are split 50/50 and the service comes free.

Summary:
Name your bar. Create a great bar menu. Contract with an amusements company for coin operated machines.