Tags: Pre Calc Homework HelpMusic Publishing Company Business PlanEssay About Using Computers Saves A Lot Of TimeList Of Transition Words For Compare And Contrast EssaysAbout A Boy Novel EssayWorld History Research Paper Rubric
You will need to break down your target consumer into her component demographics, and then conduct market research to find out where she is and what will win her patronage.Identify and describe your market competitors and their business strategies, particularly how successful (or unsuccessful) they are at attracting your target bar patrons and why.Doing this not only helps you realize whether your business is viable, but it is also something that lenders and investors will want to see before helping to finance your business.
Sales projections for the next four years are based upon current planned store openings.
Site surveys have been completed and prime locations have been targeted for store expansion.
Describe your bar concept in general terms: the bar’s theme, atmosphere, business structure (partnership or sole proprietorship, for instance) and value proposition (atmosphere, product, service or all of the above).
Highlight the current status and future outlook of the industry and how your bar will take advantage of any positive aspects while staying protected from negative ones.
Entering the bar business can present you with a few concerns that are particular to the industry.
Whether you intend to use your business plan to obtain financing or just for strategic-planning purposes, when you sit down to write your business plan, you will need to identify and address potential pitfalls that could derail your business.
Detail your operations strategies in the business plan's next section, remembering to highlight any operational advantages you might have over your competition (liquor discounts, networks or economies of scale, for example).
You are opening a bar to make money, so your business plan must include financial projections that show how much money you plan to make, with a goal of breaking even and becoming profitable.
First year operations will produce a net profit of 5,000.
This will be generated from an investment of 5,000 in initial capital.