Pubs are empty on Tuesdays. Chess players are always looking for a place to play. It's a match made in heaven, but only if you structure it to drive revenue. Here is how to run a tournament that pays the bills.
1 The 'Pint for Entry' Model
Never charge a cash entry fee at a pub. It complicates licensing and feels transactional. Instead, make entry "Free with purchase of a drink".
This guarantees immediate revenue from every player. For a 20-person event, that is 20 guaranteed sales in the first 15 minutes.
Put a sign at the door: "Chess Night - Free Entry with Any Drink." It removes friction and gets players ordering immediately.
2 Prize Economics
Don't give away cash prizes. Give away Bar Tabs.
If the winner gets a $20 bar tab, it has high perceived value to them, but the actual cost to you (COGS) is maybe $5-$7. Plus, they usually spend more than the tab value anyway.
3 The 'BYOB' (Bring Your Own Board) Rule
You do not need to buy 20 chess sets. Make your event BYOB. Most players have a set gathering dust at home.
Offer a free drink ticket to the first 5 people who bring a set. This solves your equipment problem for the cost of a few draft beers.
Instead of $300+ for chess sets, you spend ~$25 in drink tickets. The players do the rest.
4 Timing & The 'Gambit Burger'
Start at 7:00 PM. Finish by 9:30 PM.
Run a 'Chess Special' on food - something quick like a burger or wings. Players are trapped in your venue for 2.5 hours. If you make it easy to eat, they will eat. Use the break between Round 2 and 3 to announce "Last call for kitchen orders".
5 Automation is Key
You are running a bar, not a FIDE congress. You cannot be messing around with spreadsheets while pouring drinks.
Use ChessHost. It handles odd numbers (Byes), late arrivals, and pairings automatically. You just hit 'Start' and pour another round.