West Palm Beach Florida 3.
Tourists Our Competitive Advantage Competition in the cocktail bar industry will remain intense, stimulating industry consolidation.
Major companies are expected to continue streamlining operations for cost savings. We are mindful of the fact bar business plan sample there are competitions in the cocktail bar industry in the United States of America; hence we have been able to hire some bar business plan sample the best business developers to handle our sales and marketing.
Our competitive advantages are control of distribution arrangements, aggressive marketing — given the high level of competition and economies of scale. Part of what is going to be our selling point in Petoskey — Michigan is the fact that we operate a standard cocktail bar, in a perfect location for the kind of business that we run and also the fact that our bar facility is highly secured.
We are not ruling out the fact that we have a dedicated and customer centric workforce that are willing to go the extra mile to give our customers full value for their money and time whenever the patronize our cocktail bar.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and objectives.
The model of cocktail bar we intend running is a neighborhood bar hence we are not going to rely only on the conventional ways of marketing.
Our unique selling proposition is that we have a collection of almost all cocktail options in our bar, we have assorted drinks and tobaccos et al. In view of that, we are going to adopt the following marketing strategies to ensure that we do not only attract customers but generate repeated sales from them.
Part of the marketing and sales strategies that we will adopt are; Open our cocktail bar in a grand style with a party for all. Introduce our cocktail bar by sending introductory letters alongside our brochure to organizations, households and key stake holders in Petoskey — Michigan Ensure that we have a wide range of cocktails, wines, beers, liquors, distilled spirits, martinis and non-alcoholic drinks at all times.
We are well positioned to take on the available market in Petoskey — Michigan and we are quite optimistic that we will meet our set target of generating enough profits from our first six months of operation and grow the business and our clientele base.
We have been able to critically examine the cocktail market we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.
The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Petoskey — Michigan. Please note that the above projection might be lower and at the same time it might be higher.
Our Pricing Strategy The prices of our cocktails and other products that we sell will be what is obtainable in the market. We also have plans in place to discount our products once in a while and also to reward our loyal customers. We are quite aware that one of the effective ways of promoting our bar is to create special internal promotions which in turn will help us achieve our aim of leveraging on word of mouth publicity.
Ensure that our we position our banners and billboards in strategic places all around Petoskey — Michigan Distribute our fliers and handbills in target areas in and around our neighborhood Advertise our cocktail bar business in our official website and employ strategies that will help us pull traffic to the site Brand all our official cars and vans and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals Startup Expenditure Budget In setting up any business, the amount or cost will depend on the approach and scale you want to undertake.
If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a cocktail bar business; it might differ in other countries due to the value of their money.
Bennardo Paulo and his immediate family members and they intend to finance the business alone. Although they have plans to make the bar manager part owner of the business after 5 or 7 years of services, but that does not stop him from reserving well over 80 percent stake of the business for himself and his family.
Since they are the sole financier of the business, they have decided to adopt the following means to generate startup capital for the business; Generate part of the startup capital from his personal savings and sale of his stocks Source for soft loans from family members and friends Apply for loan from the banks N.
All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount. Cocktail Bar Business Plan — Sustainability and Expansion Strategy The future of a business lies in the number of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure.
We know that one of the ways of gaining approval and winning customers over is to retail our cocktails a little bit cheaper that what is obtainable in the industry and properly position our cocktail bar, ensure adequate security, availability of various cocktails and brand of wines and excellent customer service et al.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more.
We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.Foosball Hall bar and tavern business plan executive summary.
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