Saikat, IMO, the Elite visa is far easier to acquire and simply enjoy life here. Plus you are able to invest and buy whatever you like without any headaches :-)
The reply from Tod copy and pasted in case you forgot....Chinese nationals cannot use the thai consulates in neighboring countries and must go back to china to apply for thai visas at the thai consulates there.
But to answer your specific question, this simple bar will not meet the requirements to get you a Non-B visa & W/P, for that you require a serious investment and to open a company, hire the required number of staff, pay taxes and social security, maintain proper books and accounts....etc. This again depends on where in Thailand you decide to live. Good luck ;-)
Speaking from experience, I've lived here going on 2 decades and have owned pool & sports bars and restaurants in Bangkok...it is not for the faint of heart. Depending on where you are located Up Country and what you decide to offer, I would keep it very simple. The more entertainment available: pool table, tv's, food and drinks, music, darts....etc the more permits and licenses you will be required to show. I didn't even mention "girls" and ladies drinks. Most guys that I know who have bought a tiny "Bar Beer" for their G/F's (often a bar girl herself) have never seen the money returned or a satang of profit. But as has already been mentioned, you never know until you try, keep things simple and the costs under control and it just might work out. ;-)