Pros
You will make great friendships, probably become more fit, possible promotion opportunites (circumstantial) and it looks great on your resume.
Cons
If you work in the bar area, you are subject to very late nights and little social life outside of work given that you can pretty much say goodbye to friday and saturday nights, and holidays such as new years eve, boxing day, etc.
In my experience, and the experience of the majority of the people I worked with, the management was very, very poor. Very old-fashioned, especially in the sense of females and males, and very inappropriate on more than one occasion.
The owner is a bully, and sets ridiculous standards for himself, ie. He never introduces himself to any of the new staff, yet all staff MUST memorize his face, address him as sir, allow him to intimidate and stare down, and in my experience, get away with free drinks when he feels like it in front of a lot of other customers, and without any prior warning of this being protocol. I am extremely, extremely appalled by the management of this club.
And I think I can back-up this statement, with the undeniable fact that the club goes through employees like nothing else. In my experience alone, I saw roughly 5 different groups of "newbies" sift through over a period of 6 months, groups of about 4 to 7 people in each.
In the club's defence, it very well could be due to the physical demands and hours of the job, although I doubt that this is the case. Many staff quit when they were treated down-right wrong and offensively by management.