If you really want to know how to build/run a lounge, buy a ticket to Ft. Lauderdale, drive to Margate, and check out The Smoke Inn. These guys have got it right.
http://www.picturetrail.com/sfx/album/view/23997425
Cover charge? No way I'm paying you money to pay you money.
Like someone said, keep me there long enough and you'll get plenty of my $$$