There are advantages either ways. With purchasing, you at least have the asset on your financial statements, even if you have loan payments. This can be a very effective way to start-up an operation. Since this is your first venture, you may want to look into this to save you numerous headaches later. To find out what's required for licensing your new bar, contact your municipality, county, and state governments for any requirements for both business and bar businesses.
Some states require bars that serve hard liquor be operated by non-profit corporations.
So do your homework on this one. Your establishment's theme will dictate part of the inventory you carry in this area. They also sell signs, lights, coasters, and other promotional items. If there's one dominant brand in your area, or two, have those on tap and complement your domestic inventory with bottles of other beers. Pay special attention to any local brews.