Bar Business Plan Template

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BAR BUSINESS PLAN
(COMPANY NAME)
(COMPANY NAME)
(STREET ADDRESS)
(CITY, STATE ZIP CODE)
(CREATION DATE)
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TABLE O !O"TE"T#
$%& E'ecuti(e #ummary%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%)
1.1 Business b!ectives......................................................................................................................................."
1.# $ission %tatement.........................................................................................................................................&
1.' (uiding Principles.........................................................................................................................................&
1." )eys to %uccess.............................................................................................................................................&
*%& !ompany +escription%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%,
#.1 wnership.....................................................................................................................................................*
#.# +egal ,orm....................................................................................................................................................*
#.' %tart-.p %ummary.........................................................................................................................................*
#." +ocation and ,acilities................................................................................................................................../
-%& Products%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%.
'.1 Products0%ervices 1escriptions.....................................................................................................................2
'.# 3ompetitive 3omparison...............................................................................................................................2
'.' Product0%ervice %ourcing..............................................................................................................................4
'." 5nventory $anagement.................................................................................................................................4
'.& 6arehousing and ,ulfillment........................................................................................................................4
'.* ,uture Products0%ervices.............................................................................................................................17
)%& /ar0et Analysis%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%$&
".1 5ndustry 8nalysis.........................................................................................................................................17
".1.1 $ar9et %i:e.............................................................................................................................................17
".1.# 5ndustry Participants...............................................................................................................................11
".1.' $ain 3ompetitors...................................................................................................................................11
".1." $ar9et %egments....................................................................................................................................1'
".# $ar9et Tests................................................................................................................................................1'
".' Target $ar9et %egment %trategy.................................................................................................................1"
".'.1 $ar9et ;eeds..........................................................................................................................................1"
".'.# $ar9et Trends.........................................................................................................................................1"
".'.' $ar9et (rowth........................................................................................................................................1&
"." Positioning...................................................................................................................................................1&
,%& /ar0eting #trategy and 1mplementation%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%$,
&.1 %6T 8nalysis...........................................................................................................................................1&
&.1.1 %trengths.................................................................................................................................................1&
&.1.# 6ea9nesses.............................................................................................................................................1*
&.1.' pportunities...........................................................................................................................................1*
&.1." Threats.....................................................................................................................................................1*
&.# %trategy Pyramid.........................................................................................................................................1*
&.' .ni<ue %elling Proposition =.%P>..............................................................................................................1*
&." 3ompetitive ?dge........................................................................................................................................1/
&.& $ar9eting %trategy and Positioning............................................................................................................1/
&.&.1 Positioning %tatement.............................................................................................................................1/
&.&.# Pricing %trategy.......................................................................................................................................1/
&.&.' Promotion and 8dvertising %trategy.......................................................................................................12
&.&." 6ebsite....................................................................................................................................................12
&.&.& $ar9eting Programs................................................................................................................................12
&.* %ales %trategy..............................................................................................................................................12
&.*.1 %ales ,orecast..........................................................................................................................................14
&.*.# %ales Programs........................................................................................................................................14
&./ +egal............................................................................................................................................................#7
#
&.2 $ilestones...................................................................................................................................................#7
&.4 ?xit %trategy................................................................................................................................................#7
2%& Organi3ation and /anagement%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%*&
*.1 rgani:ational %tructure..............................................................................................................................#7
*.# $anagement Team......................................................................................................................................#1
*.' $anagement Team (aps.............................................................................................................................#1
*." Personnel Plan.............................................................................................................................................#1
*.& Board of 1irectors.......................................................................................................................................##
4%& inancial Plan%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%**
/.1 5mportant 8ssumptions...............................................................................................................................##
/.# %tart-.p 3osts.............................................................................................................................................##
/.' %ource and .se of ,unds.............................................................................................................................#'
/." Brea9-?ven 8nalysis...................................................................................................................................#"
/.".1 Pro!ected Profit and +oss........................................................................................................................#&
/.".# Pro!ected 3ash ,low...............................................................................................................................#/
/.".' Pro!ected Balance %heet..........................................................................................................................#/
/.& Business @atios...........................................................................................................................................#2
'
$%& E'ecuti(e #ummary
The ;eighborhood Bar and (rill (NB&G) will be a uni<ue gathering place in the suburbs of
Palm Beach 3ounty. By providing exemplary service =thin9 of the character ;orm from 3heers
as heAs warmly greeted each day after wor9>, a vast selection of beer and wines and award
winning food in a relaxed comfortable setting, the ;BB( will be the premier bar that Cthe localsA
go to in suburban Palm Beach 3ounty.
The success of the bar is in its owners D with collectively '7E years experience in the restaurant
and bar industry. They are committed to ma9ing this operation a successful one. ?mployees
have been hand selected and share the same views as the owners, that is, 9eeping the customer
happy assures repeat business.
The ;BB( has plans to initially capture #F mar9et share or G''",777 of the G1*./ million of
the local mar9et by fiscal Year ne, and an additional #.'F and #.&'F for Years Two and Three
respectively. The ;BB( will accomplish this through a concerted advertising and mar9eting
campaign, reliance on signage and primarily by word of mouth. +ocated at a ma!or intersection
in Palm Beach 3ounty, the site is located in a neighborhood retail centered anchored by a 6inn
1ixie grocery store. 6ith average traffic counts of "#,777 daily, the site was primarily selected
because of its location, the local demographics surrounding the site and reasonable rental rates.
The ;BB( is leasing 1,"77 s<uare feet retail space in the shopping center and paying G12.77 per
s<uare foot annually ;;; lease.
The following business plan summari:es the history of the ;BB(, where the business currently
resides and its future plans for growth.
$%$ Business Ob5ecti(es
The ;BB( will be a newly established bar and grill located in 6est Palm Beach, ,lorida.
The bar will cater to office wor9ers and tourists during the day, and at night, the bar will
cater to local patrons coming home from wor9 for some relaxation. The bar will provide a
top notch menu featuring traditional bar fare along with fine food offerings. n wee9ends
the ;BB( will feature live music including acoustical guitar and small !a:: venues.
The ;BB(As primary goal is capture #F of the local G1*./ million bar and nightclub
mar9et by the end of calendar year one.
The ;BB( plans to generate a profit within the first #" months of operations and
repayment of all financial obligations within the first & years of operations.

The bar will accomplish these goals by holding itself apart from competition as a true
neighborhood bar, offering a vast selection of beer and wine, by providing fine cuisine in
addition to standard bar fare, all in a relaxing environment designed to ma9e patrons
return.
"
$%* /ission #tatement
The ;BB( will provide a comfortable place for locals to come and gather for relaxation,
striving to be the bar of choice for the locals in the 3resthaven neighborhood and suburban
6est Palm Beach. The ;BB( will be 9nown as the H3heers BarI D where everybody
9nows your name and the business will do this byJ providing a relaxed atmosphere
encouraging patrons to unwind --specifically targeting professionals between the ages of
'7 and *& ma9ing G&7,777 annually. The ;BB( is based on the guiding principles that
life is to be en!oyed and this is reflected in its vast selection of beverages, its delicious
food offerings and the professional team members. The ;BB( wants to be synonymous
with country singer Toby )eithAs song I Love This BarI.
$%- 6uiding Principles
The ;BB(As philosophy is simpleJ en!oy life and treat others as youAd want to be treated.
These sound principles apply to all lifeAs situations, both personal and professional. 8t the
;BB(, these principles are applied to management, employees, customers and suppliers
ali9e.
+ife is to be en!oyedK ;BB( employees love their !obs and their customersK This is not
only reflected in the outstanding service D it is because management personally culls and
trains each employee putting them in the position that is ideally suited for them.
5ntegrity D 5n the spirit of all great bartenders, treat each customer with utmost respect and
professionalism. The ;BB( bartenders and wait staff are trained to act professionally in
all situations. 5f a regular patron happens to become disorderly say after a particularly
stressful day, the ;BB(As staff is trained to promptly and discreetly order a cab for these
individuals. ;o one wants to wor9 with drun9en and disorderly individuals and the
patrons do not want to be 9nown as such either.
$%) 7eys to #uccess
The ;BB(As 9ey to success will be based onJ
utstanding customer services D the ;BB(As goal is be the place Hwhere everyone
9nows your nameI. 8ll team members are hand selected and love what they what
do.
3ustomer %atisfaction D By providing a <uiet and relaxed environment, where
friends can meet and unwind and relax.
Provide a vast offering of specialty beer and wine offerings D catering to the
publicAs increased re<uirement for variety and sophistication in alcoholic beverages.
*%& !ompany +escription
The ;BB( will be a locally owned neighborhood bar e<ually owned and operated by Ben
1avis, @oberta (ary and 1anny Linn. The ;BB( is a 3-3orporation.
&
The ;BB( will occupy a 1,"77 s<uare foot facility located in a neighborhood shopping center
9nown as the %hoppes at 3resthaven. The property address is #*71 %outh $ilitary Trail.
The ;BB( will provide a soft, <uiet environment for its patrons. The furnishings are comprised
of leather appointed chairs and small booths throughout the bar. These items were obtained at
various local auctions and although not entirely matching, lend an eclectic loo9 to the coc9tail
lounge area. The walls are adorned with a hodgepodge collection of memorabilia from the local
area - many donated by $r. 1avisA wine bar patrons including two cigar store 5ndians, an
anti<ue bear claw and 14&7As coca cola signs.
The bar will have a small central stage and provide the site for !a:: musicians and open mic
nights on the wee9ends.
*%$ Ownership
The ;BB( is 3-3orporation, owned e<ually by Ben 1avis, @oberta (ary and 1anny
Linn.
$r. 1avis has #7E combined experience years in management and operations. 8
successful business owner, he currently owns two independent wine bars in 6est Palm
Beach and Boca @aton.
$s. (ary has 17E years experience the restaurant and bar industry beginning her career as
an ?vent 3oordinator for the @adisson and most she recently managed two nightclubs in
exclusive %outh Beach.
3hef 1anny Linn will oversee the 9itchen. He brings to the table 1&E years experience as
a formerly trained 3ulinary 3hef. $r. Linn and $s. (ary met while employed at the
@adisson.
*%* Legal orm
The ;BB( is a registered 3-3orporation, owned e<ually by Ben 1avis, @oberta (ary and
1anny Linn, doing business in the %tate of ,lorida.
*%- #tart8Up #ummary
,ollowing is a summary of re<uired funds to establish the businessJ
Tenant improvement costs have been in the form of new heating0air conditioning,
electrical, plumbing, painting, carpentry, flooring and smo9e detectors.
The owners have spent G'2,#*# in furnishing and fixtures including leather chairs and
small booths throughout the bar. These items were obtained at various local auctions.
The owners are currently remodeling and retrofitting the space to accommodate both a
front and bac9 bar along with stools for customers. The bac9 bar was secured from a
*
consignment shop and is ornately decorated ?nglish walnut, marble and glass. The front
bar will be constructed by $r. 1avisA brother-in-law who owns a cabinet company.
8dditional out of poc9et expenses were rent and security deposits.
The owners are see9ing a G##,777 wor9ing capital loan to meet start-up inventory
re<uirements, and licensing re<uirements. The loan will be secured by .33 filings on all
inventories, and accounts receivables.
,urther, the owners are see9ing a commercial loan in the amount of G*1,777 to purchase
9itchen e<uipment, supplies and bar supplies. The space was formerly a restaurant and the
layout is perfect for the proposed 9itchen. The commercial loan proceeds will be used to
purchase the ma!ority of the 9itchen e<uipment including two stoves and ovens, one wal9
in refrigerator, a free:er, two microwaves and a deep fryer. The commercial loan will be
secured by .33 filings on all furniture fixtures and e<uipment.
Total starts up costs are G1"#,&1#. To date the owners have contributed G&4,&1# or "#F
e<uity in the business. The source of repayment for both loans will primarily be cash flow
from the bar and secondary source of repayment will be recourse to the owners. The
tertiary form will be disposal of the assets.
*%) Location and acilities
The location was a 9ey component for the ;BB(. The owners specifically sought this
location because the demographics aligned with their target customer.
The 1,"77 s<uare foot ;BB( will be located in the %hoppes at 3resthaven located at #*71
%outh $ilitary Trail in 6est Palm Beach, ,lorida. +ocated on the northwest corner of
$ilitary Trail and 3resthaven Boulevard, approximately "#,777 cars pass the site daily.
The shopping pla:a is anchored by a 6inn 1ixie grocery store. The area surrounding the
;BB( is the 3resthaven neighborhood. The ;BB( residents live in this neighborhood
and surrounding area.
The bar location specifically meets the needs of the ownerAs patron profile D that is
professionals between the ages of '7-*& with incomes greater than G&7,777. The following
table briefly summari:es the population in the ' and & mile radiusJ
/
-%& Products
-%$ Products9#er(ices +escriptions
The ;BB( will offer a broad and deep variety of specialty beers and wines which will
appeal the publicAs ever changing and increasingly more sophisticated demands for variety
in beer and wine. The bar will also offer a full service li<uor bar.
Patrons desiring food will not be disappointed by the barAs food offerings either. ne of
the owners is an award winning chef formerly trained at the ,lorida 3ulinary 5nstitute and
most recently employed by the ,ontainebleau in $iami. 3hef 1anny Linn will prepare
traditional bar foods such as nachos, potato s9ins, and calamari, along with the local
favorites of fish dip and fried grouper sandwiches. 1ining patrons will also en!oy his daily
specials including freshly caught 8tlantic %napper and $ahi $ahi.
The 9itchen will close at 2 pm, but patrons will still have the option of easily prepared
foods, that the bartender can microwave or easily throw into the deep fryer.
n ,riday and %aturday nights, the ;BB( will provide live entertainment performed by
local !a:: musicians. 8 cover charge will be applied to patrons to cover the band expenses.
The bands will be responsible for setup and tear down of all e<uipment.
-%* !ompetiti(e !omparison
6ithin a five mile radius of the sub!ect are six comparablesJ
Appe!ee"s Neigh!orhoo# Bar an# Gri
$%&$ Forest 'i Bv#
(est )a* Bea+h
,o+o+a!ana Bar & Gri
-.// S 0og 1#2 La3e (orth Fori#a
+o+o+a!ana!g4+o*
2
Fanigans Sea5oo# Bar & Gri
-/&6 6&th Ave N2 La3e (orth2 Fori#a
www45anigans4net
Fran+hie7s Bar
8/%$ -n# Ave N2 La3e (orth 1oa#
La3e (orth2 Fori#a

)it 1ow
/&$/ Forest 'i Bv# Ste 9
(est )a* Bea+h Fori#a
www4un+e*i+3s4+o*:pitrow
)ush )ony
-&-9 S ;iitary Trai
-%- Product9#er(ice #ourcing
The 9ey food suppliers for the business will be %ysco ,oods and Treasure 3oast ,ood
%ervice. Having two suppliers assures the ;BB( exceptional delivery times, and better
overall prices.
@estaurant supplies =pots, pans, cutlery, and coo9ing utensils> will come from (rover
@estaurant %upply.
8lcoholic beverages will be purchased from (old 3oast Beverage 1istributors and ,lorida
1istributing 3ompany.
The ;BB( will utili:e a P--% =Point of %ale> touch screen system throughout the bar and
restaurant area. These monitors and hand held units will provide point of sale menus,
inventory control analysis, credit card sales, and office management.
-%) 1n(entory /anagement
The P% system will be instrumental in the ;BB(As success. Bartender theft and
employee theft can <uic9ly be the financial demise of any business. The P% systems
will alert the chef when inventory levels are low and the bar manager when to place his
order.
-%, :arehousing and ulfillment
;08
4
-%2 uture Products9#er(ices
The owners of the ;BB( reali:e the customer is the 9ey to the success of the business and
will wor9 continually to improve0enhance the patron experience. 3omment cards will be
available throughout the bar and management will 9eenly review these comments, ma9ing
ad!ustments as needed. ,or example, the owners might consider open mic nights, creating
a Trivia ;ight or providing other options as deemed acceptable by the customers.
)%& /ar0et Analysis
)%$ 1ndustry Analysis
8lthough people still gather to sociali:e in bars, !ust as they have for hundreds of years,
other factors have come into play for the industry as well. Problems with driving while
intoxicated have changed the drin9ing patterns of people in .nited %tates. The growing
concern with health and fitness toward the end of the #7th century too9 its toll on the bar
industry. )eeping tabs on this industry re<uires a loo9 at the alcoholic beverage industry
as a whole--what people buy in the store doesnMt differ much from what they buy in a bar.
The distilled spirits industry generates around G177 billion in ..%. economic activity
annually. =1istilled %pirits 3ouncil>
The .% bar and nightclub industry includes about "&,777 establishments =single-location
companies and branches of multi-location companies> with combined annual revenue of
about G#7 billion. ;o ma!or companies dominateN varying state li<uor laws complicate the
ability to form large chains. The industry is highly fragmentedJ the &7 largest companies
account for about & percent of revenue. =,irst @esearch>
Personal income and entertainment needs drive demand. The profitability of individual
companies depends on the ability to drive traffic and develop a loyal clientele. +arge
companies can offer a wide variety of food, drin9s, and entertainment, and have scale
advantages in purchasing, financing, and mar9eting. %mall companies can compete
effectively by serving a local mar9et, offering uni<ue products or entertainment, or
providing superior customer service. The industry is labor-intensiveJ average annual
revenue per wor9er is about G*7,777. =,irst @esearch>
$a!or sources of revenue include beer =about '& F of sales>, distilled spirits or hard li<uor
='7 F>, food and non-alcoholic beverages =#7 F>, and wine =/ F>. =,irst @esearch>.
)%$%$ /ar0et #i3e
The .% bar and nightclub industry includes about "&,777 establishments =single-
location companies and branches of multi-location companies> with combined
annual revenue of about G#7 billion. ;o ma!or companies dominateN varying state
li<uor laws complicate the ability to form large chains. The industry is highly
17
fragmentedJ the &7 largest companies account for about &F of revenue. =,irst
@esearch>
)%$%* 1ndustry Participants
There are few barriers to entry in the neighborhood bar industry, and the capital costs
of starting a new neighborhood bar are low. However, competition among bars and
taverns is intense due to the large number of bars in the target mar9et. 6hen
combined with a small industry growth rate, mar9et share gains by one bar will be at
the expense of others.
3ompeting for the neighborhood bar are other small neighborhood bars and larger
chain restaurants with full service bars. 8dditional competition for the ;BB( are
other types of bars, for example, sports bars, pubs, coffeehouses, and wine sellers.
The slower economy resulted in some patrons purchasing from grocery stores,
pac9age stores and convenience stores.
)%$%- /ain !ompetitors
8 recent analysis revealed six bars0restaurants with bars or a G1*./ million mar9et as
classified under the ;853% =;orth 8merican 5ndustry 3lassification %ystem> code
/##"17 D bars and nightclubs - within a & mile radius of the sub!ect. The
following is summary of the comparablesJ
Appe!ee"s Neigh!orhoo# Bar an# Gri
$%&$ Forest 'i Bv#
(est )a* Bea+h
11
This 1*,&77 s<uare foot corporate restaurant and bar was established in 144/. The neighborhood
restaurant0bar generates approximately G&.& million annually and has && employees. The
8pplebeeAs target mar9et is not the same as the sub!ect, catering primarily to families and as a
restaurantN it will not compete directly with the sub!ect.
,o+o+a!ana Bar & Gri
-.// S 0og 1#2 La3e (orth Fori#a
+o+o+a!ana!g4+o*
Privately owned, this is ','77 s<uare foot restaurant0bar with 11 employees and generates
approximately G1.1 million annually in revenues. The restaurant speciali:es in 1ominican food
and drin9s. 6ith a focus on blac9 beans and rice and mo!itos, the theme is <uite different from
the sub!ect. However, based on its si:e, its proximity to the sub!ect and its uni<ueness, the
;BB( will have to wor9 hard to attract these patrons. 6ord of mouth and its initial mar9eting
campaign will have to convince these patrons that the ;BB(As food and beverage offerings are
superior to this competitor.
Fanigans Sea5oo# Bar & Gri
-/&6 6&th Ave N2 La3e (orth2 Fori#a
www45anigans4net
?stablished in 1447, the iconic restaurant and bar is one of twenty-two facilities in the %outh
,lorida area. ,lanniganAs is well 9nown and has a loyal following. The 4,477 s<uare foot bar
and restaurant is privately owned and generates G'.' million annually. The restaurant and bar
has '' employees. Because of its uni<ue target focus as primarily a restaurant this business, li9e
8pplebeeAs, this is an indirect competitor.
Fran+hie7s Bar
8/%$ -n# Ave N2 La3e (orth 1oa#
La3e (orth2 Fori#a
This freestanding ','77 s<uare foot bar is privately owned and operated. The bar has 11
employees and generates approximately G1.1 million annually. The bar has a O3O credit rating
and does not provide food. The bar is old =its age un9nown as it was not filed publicly> and is
generally 9nown in the area as a Hdive barI. This barAs clientele do not typically meet the profile
of the sub!ect and will not compete directly with the sub!ect.
)it 1ow
/&$/ Forest 'i Bv# Ste 9
www4un+e*i+3s4+o*:pitrow
6ith a race CpitA themed bar and menu, Pit @ow offers drin9 specials on ;8%38@ race days.
The neighborhood bar has a sports bar theme. The bar has a pool league and a Texas Hold C?m
1#
game night. $ore of a sports bar, the sub!ect will compete indirectly with this competitor. The
1,277 facility is located in a strip center and generates G*77,777 annually. The bar has *
employees. This neighborhood bar is one of three in Palm Beach 3ounty that are privately held
by the same owner.
)ush )ony
-&-9 S ;iitary Trai
This 1&,'77 s<uare foot bar started in 144& has a tremendous following. )nown as a Hdive barI,
the Plush Pony has line dancing and country music. 6ith &1 employees and G&.1 million in
annual revenues, this country music bar is an indirect competitor.
)%$%) /ar0et #egments
$iddle class, Cwhite collarA office wor9ers on their way home from wor9.
These are the patrons that will become the barAs CregularsA, patroni:ing the
bar on their way home from wor9 and stopping for a glass of wine paired
with some light appeti:ers and unwinding prior to heading home.
Tourists and wor9ers on their lunch hour D the bar is centrally located in
Palm Beach 3ounty ma9ing it an ideal location for both tourists and wor9ers
ali9e.
+ate night and bar crowd see9ing HlighterI late night venues D the ;BB(
will have live !a:: music and acoustic guitar on wee9ends and some
wee9nights.
The owners of the ;BB( are targeting the following individuals for their target
mar9etJ
Household income of G&7,777
Between the ages of '7 and *&
(ender 1emographic =/&F $ale, #&F ,emale>
+ives within a & miles radius of the sub!ect location
)%* /ar0et Tests
The owners specifically targeted this location because of the lac9 of finer Cneighborhood
barsA in the suburbs D a bar that is <uaint and co:y D but also provides a great option to ta9e
out of town guests with finer food and beverage offerings.
6hile patrons can find similar bars in the trendier downtown and midtown locations, the
<uieter, smaller bars offering finer foods and !a:: venues, are all but overloo9ed in the
suburbs. ?xperienced in the business, the owners listened to their patrons and created
;BB( based on these re<uested needs.
1'
The local distributors support this business venture as well and based on the area
demographics and are anxious tap into this lucrative mar9et.
)%- Target /ar0et #egment #trategy
The ;BB( specifically targets individuals in the local mar9et with incomes greater than
G&7,777 desiring a <uiet neighborhood bar and grille to relax and unwind. The mar9eting
strategy is designed to target this group.
This target group was selected primarily because of
the location of the bar and grille,
the setting is designed to appeal to this target mar9et and
the current target mar9et does not have any venues comparable to the sub!ect. 5n
fact the closest direct comparables are located eight miles away in downtown D the
ma!ority of locals would prefer a spot closer to home.
)%-%$ /ar0et "eeds
8s the owner of two %outh ,lorida wine bars, $r. 1avis was constantly told by his
patrons, that while they loved the local taverns, theyAd be more interested in trying
some finer <uality food offerings along with some finer beverage choices, especially
when they had guests visiting from out of town.
6hile still maintaining its image as Hthe place the locals goI, the owners have added
some HclassI to this little bar and grille byJ
ffering both traditional bar fare, but also offering selections of daily
prepared specials from a chef formally employed by the ,ontainebleau and
trained at the ,lorida 3ulinary 5nstitute
The bar will provide HlightI !a:: music and acoustic guitar, filling the vast
void in such venues in the CburbsA location.
)%-%* /ar0et Trends
@ecent mar9et trends focus increasingly on healthier lifestyles. %tudies have
shown that although consumers are drin9ing less alcohol, their tastes are
becoming more discriminating.
8 greater emphasis on technology =P%> and training =H%tar %ervers and
BartendersI> resulting in increased productivity and earnings.
.pgrades in improvements and interior dPcor D the days of the dimly lit and
dar9 smo9y bar rooms are <uic9ly becoming a thing of the past.
The ;BB( is designed to embrace these trends. The ;BB( will feature a vast
assortment of locally crafted and imported beer offerings. The wine selection will be
somewhat smaller but !ust as impressive. ,ood offerings will consist of standard bar
fare along with, finely prepared daily gourmet specials. The owners will rely on P%
1"
system for orders, inventory control, accounting functions, time management and
other functions. 8ll bartenders will be hand selected and trained to cross sell
appeti:ers or higher margin items. The ;BB(As Cshabby chicA interior is designed be
a comfortable, sociable and en!oyable environment.
)%-%- /ar0et 6rowth
+i<uor sales and the bar industry overall is demonstrating improving trends. The
following is a summary from the ,ebruary #71# ..%. 1istilled %pirits 3ouncil
@eportJ
Qolume 0 revenue growth at pre-recession levels.
@evenue up *.'F to G#7.' billion
Qolumes up #.4F to 14* million 4-liter cases
(rowth driven by improving economy0consumer confidence, increase in
restaurant sales, stable pricing environment and product innovation
5mproved economy R return of premiumi:ation
%ales growth has pushed mar9et share to '".1F of revenue, ''.2F of volume
,uture growth dependent upon state of economy =5ndustry @eview 1istilled
%pirits 3ouncil 7#0#71#>
)%) Positioning
The ;BB( will position itself as the bar and grille of choice for patrons desiring a
comfortable and relaxed bar and grille experience. 1esigned li9e its competitorAs
downtown and midtown, the central location will appeal to suburbanites living in the area
who donAt care to travel more than a few minutes from home.
,%& /ar0eting #trategy and 1mplementation
The ;BB( will position itself as the bar and grille of choice by providing top notch service,
offering a vast selection of beverages, and providing both traditional bar fare as well as daily
mar9et specials prepared by its culinary chef. The ambience and dPcor will be comfortable and
relaxing and with the benefit of light !a:: in the bac9ground, the bar and grille will be a one of a
9ind experience in the suburbs. The owners and staff are constantly aware of patrons changing
li9es and disli9es and the bar and grille will act <uic9ly to ma9e changes to meet these needs.
,%$ #:OT Analysis
The following information summari:es the %6T analysis. %6T stands for strengths,
wea9nesses, opportunities and threats. 8 %6T analysis is a method for strategic
planning that evaluates these four elements as they relate to the business ob!ectives.
,%$%$ #trengths
@elatively easy entry and low capital outlay.
1&
3ommitted owners with combined '& years industry experience.
The ;BB( will be a uni<ue one of a 9ind experience in its suburban
location.
Targeted, specific focus on its customers creates a memorable experience for
its patrons resulting in repeat business.
,%$%* :ea0nesses
1isorderly patrons can potentially harm both business reputations or cause
collateral damage
?mployee theft can ma9e or brea9 a bar business. $anagementAs exclusive
use of the P% system mitigates this ris9.
Qery specific target mar9et D if the target mar9et was broader the owners
could increase mar9et share in the segment that was the strongest.
High turnover in bar industry D many bars are here today and gone tomorrow
,%$%- Opportunities
pportunity to obtain a share of a G1*./ million mar9et
,%$%) Threats
8nother new entrant could potentially hurt mar9et shareN competition is
fierce
,%* #trategy Pyramid
%trategyJ Be the neighborhood bar and grille of choice
TacticsJ Provide exceptional customer service in a relaxed and inviting
environment encouraging patrons to return again
ProgramsJ ?xtensive and ongoing employee training. ?mployees will be rewarded
financially for providing impeccable service with opportunities to benefit
in profit sharing.
8ll staff are hand selected and share the same core beliefs of the ownersN
everyone will be trained to be 9eenly aware of patrons and anticipate their
needs before the customer does, for example always offering to promptly
show them to their table, graciously as9ing to hang their coats, and bring
them their drin9s expediently.
,%- Uni;ue #elling Proposition <U#P=
The ;BB( will be a small, casual local bar. The bar features a vast selection of hand
crafted beers D both local and imported, as well as an impressive wine selection. The bar
features traditional pub fare as well as daily specials prepared by a formally trained
culinary chef. 6ith its ClighterA music including live !a:: and acoustic guitar performances
on wee9ends and some evenings, the ;BB( will be the alternative to its louder more
raucous competitors. 8lthough similar bars are located in downtown 6est Palm Beach,
the ;BB( is specifically designed to fill the void in the suburbs.
1*
,%) !ompetiti(e Edge
The ;BB( specifically caters to its target mar9et and is truly a uni<ue local bar
experience. The bar differs in its dPcor, its extensive beer and wine offerings, culinary
choices and music styleN the ;BB( patrons cannot get this experience in any other bar
within a & mile radius.
,%, /ar0eting #trategy and Positioning
The ;BB( is centrally located on the northwest corner of 3resthaven Boulevard and
$ilitary Trail. Traffic counts approximate "#,777 daily. 5n addition to its prime location,
the ;BB( will rely onJ
8dvertising
utdoor %ignage
(rand pening
6ord of $outh
8ccording to the Bob Sohnson with Beverage $anagement 5nstitute in 3learwater, %outh
3arolina, the only cost-effective way to advertise a bar is word-of-mouth. O6hen you donMt
have word-of-mouth wor9ing for you, you are in serious trouble. 5tMs not necessarily
terminal. There are still ways to get some advertising and mar9eting out there without
spending a ton of money. But anytime you reach into your own poc9et to buy advertising
for a bar, itMs not good.
O6ord-of-mouth advertising is priceless,O he continues. O5t means everything is right.
?verything is happening. The bar is alive. Your employees love wor9ing there. They are
tal9ing and saying great things about the place, and that is passed on to your customers.
The customers love being there, and they tell other customers. 5f you can get to that point,
itMs !ust priceless.O
,%,%$ Positioning #tatement
The owners have a combined '& years industry experience in restaurant and bar
management and fully support the operation. The ;BB( will provide a vast
collection of handcrafted beers and wine, provide !a:: music and gourmet food, and
will strive to be the premier bar Cwhere the locals goA in suburban Palm Beach
3ounty. The ;BB( will go above and beyond the call of duty ma9ing patrons
come bac9 and tell everyone they 9now.
,%,%* Pricing #trategy
The ;BB(As pricing will be similar to the competitorAs =competition based pricing>
initially and management may consider lowering drin9 prices initially to attract
initial patrons. However, near term, when the ;BB( captures at least #F of the
1/
local mar9et, management plans to price alcohol and food to be more reflective of
ac<uisition costs.
The menu items are moderately priced. 8ppeti:er range from G2-G1#, burger plates
and wraps range from G4-G1# and the daily gourmet plates average G1/.77.
,%,%- Promotion and Ad(ertising #trategy
The ;BB(As primary promotion and advertising strategy will be outdoor street
signage and word of mouth. 8dditionally the bar is planning a grand opening in
%eptember, #7TT.
The ;BB( will open mid 8ugust #7TT with a grand opening scheduled for
%eptember #7TT. The early opening date will allow the staff to familiari:e
themselves with operations and customer interfacing.
5n addition, the ;BB( will participate in select promotions annually. nce the bar
is up and running, management will determine which nights need a boost.
Historically, bars are busiest ,riday and %aturday nights, with Thursdays coming in
third place. The ;BB( might decide to create an open mic night say on Tuesdays or
6ednesday evenings. 5n addition, the bar will have promotional events on holidays
such as 3inco de $ayo and the "th of Suly. $anagement anticipates profit to e<uate
to 'T the cost of advertising the promotion. 5n order to maintain the high energy
levels during the promotions, all pri:es will be awarded at the end of the evening.
That way, patrons will have to stay all night to see whether or not theyAve won the
grand pri:e.
,%,%) :ebsite
The ;BB( will have website featuring the menu items, phone number, hours of
operation, events calendar and map. The website will also have lin9s to its ,aceboo9
Page.
,%,%, /ar0eting Programs
The owners of the ;BB( will rely on a combination of customer feedbac9 0 sales
reports captured from the P% to determine how well the bar is performing.
3ustomer comment cards will be available tableside and guests will have the option
to receive discounts on appeti:ers when the card is submitted. 8dditionally, the
neighborhood mar9et will utili:e a local Cmystery shopperA company. 8ll employees
will be made aware of the ;BB(As commitment to customer service and this
additional tool to be used to evaluate employee performance.
,%2 #ales #trategy
The patrons will be warmly greeted immediately upon entering the bar. The ob!ective at
the ;BB( is to ma9e everyone feel at home and be the place Cwhere everyone 9nows your
nameA. .pon finding a comfortable location either at the bar, a co:y booth, or high top
12
table, patrons will be as9ed for their drin9 and food order. ?mployees will be trained to
cross sell high margin items. The ;BB( truly values its employees and provides them
with the very best training D and therefore the best service. $anagement believes that this
investment in its employees ensures satisfied customers and in turn repeat business,
leading to increased revenues.
The ;BB( will be one of the few places that will truly ma9e people happy. The ;BB(
staff will ma9e sure patrons are comfortable, offer coffee, and hang coats for them. The
owner will come to the table or booth and not !ust as9 is everything o9ay, but is going to
loo9 to see whatAs wrong before he0she even comes to the table. ?mployees will offer
samples from the menu at no charge, and ma9e fresh coffee because they 9now itAs been
sitting out for a while.
8t the ;BB(, the staff goes above and beyond the call of duty which ma9es patrons come
bac9 and tell everyone they 9now.
,%2%$ #ales orecast
The following table demonstrates the annual sales forecastJ
Table ,%2%$ Annual #ales orecast
,%2%* #ales Programs
The ;BB( employees will be the primary salespeople and will participate daily in
the tip pool. ?mployees will participate in ongoing training and be compensated for
their accomplishments as well. The ;BB( has a strong belief that the bar only
performs as well its employees.
14
,%4 Legal
The ;BB( will be a 3 3orporation recogni:ed in the %tate of ,lorida. The bar is
currently in the process of obtaining the following licensesJ li<uor liability license, food
service license, sales tax license, and entertainment permit.
,%. /ilestones
The following milestones will guide the ;BB( to meet its goalsJ
Table ,%. /ilestones
/ilestone +ate
%ecure space and negotiate lease terms Suly #7TT
3omplete @etrofit and Build-ut Suly #7TT
,urnish restaurant and bar area Suly #7TT
btain and meet necessary licensing re<uirements 8ug #7TT
Purchase inventory, 9itchen e<uipment and P% system 8ug #7TT
5nterview and hire employees 8ug #7TT
(rand pening %ep #7TT
Hire accountant when revenues exceed G&77,777 Year ,our
,%> E'it #trategy
5n the event that sales drop more than &F for more than four consecutive <uarters, the bar
will have to li<uidate. 8fter employeeAs compensation, furniture, and e<uipment will be
sold at auction to repay lenders.
2%& Organi3ation and /anagement
The following information provides the organi:ational components germane to the ;BB(.
2%$ Organi3ational #tructure
The ;BB( will be owned e<ually by Ben 1avis, @oberta (ary and 1anny Linn each with
''.'F ownership interest.
(eneral duties will include review of daily operations, inventory control, employee
training, employee hiring and firing, ordering supplies, and routine maintenance and
up9eep of the bar, e<uipment and facilities management.
1anny Linn will be head chef and oversee the day 9itchen staff personnel, including 1 line
and 1 prep coo9.
The owners will also hire wait staff and bartenders.
8ll full time employees will be compensated with benefits including health insurance and
education and training. They will have an opportunity to participate in profit sharing.
#7
2%* /anagement Team
$r. 1avis, a graduate of ,lorida 8tlantic .niversity left the corporate world of Pratt and 6hitney
behind over ten years ago to establish two neighborhood-based, independently owned wine bars.
These gathering places showcase fine wines with exemplary food offerings. $r. 1avis has over
a decade of experience in management, pro!ect development, and mar9eting providing the
foundation for his business operations, including site selection, rehabilitation and construction
and investor financing. 5n addition to overseeing the day to day operations =Hbac9 endI>, $r.
1avis fully en!oys the Ofront endO of the business as well, by interacting with customers to
ensure their experience is constantly improving.
$s. @oberta (ary brings over ten years business and nightclub experience. 8 ,lorida native with
a $asters of Business 8dministration from the .niversity of ,lorida, $s. (ary began her career
as an ?vent 3oordinator for the @adisson, and then moved to $iami to act as nightclub manager
for two %outh Beach bars. $s. (ray is a 9een talent scout and will screen local acts for live
performances.
3hef 1anny Linn was formally trained at the ,lorida 3ulinary 5nstitute and has over fifteen
yearsA experience in the restaurant industry. $ost recently he was employed at $iamiAs famous
,ontainebleau. $r. Linn will prepare traditional both traditional bar fare along with local
specialties such as fresh 8tlantic (rouper and $ahi $ahi. $r. Linn, a colleague of $s. (ary,
met her while they were both employed at the @adisson.
2%- /anagement Team 6aps
.ntil the ;BB( reaches G&77,777 in annual revenues, they will utili:e a part time
boo99eeper to assist in payroll and income tax preparation =@eference legal and accounting
line item on income statement>.
2%) Personnel Plan
The following chart shows employee salaries over the next three year periodJ
Table 2%) Personnel Plan
?6hile the salaries appear low, these employees all benefit from the daily tip pool.
8verage ta9e home pay is G*7,777 and compares favorably with industry peers%
#1
2%, Board of +irectors
;08
4%& inancial Plan
The financial plan will cover the followingJ
@e<uired 3ost of %tart-.p
Profit and +oss
3ash ,low
Balance %heet
,inancial @atios
4%$ 1mportant Assumptions
8ll * employees will be hired from day one of operations =the analysis does not assume
employee growth during the initial three years of operations>
Lero growth in employeesA salaries over the first three years, then after initial three years,
employees will have opportunity for profit sharing.
$anagement salaries remain constant as well - G/,&77 monthly over the initial three
years of operations
8verage drin9 sales priceJ G&."&
8verage appeti:er sales priceJ G17.77
8verage meal sales priceJ G1#.77
8nnual sales allow economic cyclicality.
4%* #tart8Up !osts
Tenant =leasehold> improvement costs consist of new heating0air conditioning, electrical,
plumbing, and painting, carpentry, flooring and smo9e detectors.
?<uipment consists of two stoves and ovens, one wal9 in refrigerator, a free:er, two
microwaves and a deep fryer.
,urniture and fixtures consist of leather chairs, stools and small booths along with a front
and bac9 bar. The bac9 bar was secured from a consignment shop. The front bar will be
constructed by $r. 1avisA brother-in-law who owns a cabinet company.
To date, the owners have invested almost G*7,777 out of poc9et ="#F e<uity> to meet these
startup costs including payment of rent and security deposit.
The owners are see9ing a G##,777 wor9ing capital loan to meet start-up inventory
re<uirements and, licensing re<uirements. The loan will be secured by .33 filings on all
inventories and receivables.
##
They are see9ing a commercial loan in the amount of G*1,777 to purchase 9itchen
e<uipment, supplies and bar supplies.
Total start up costs aG1"#,&1#.
Table 4%* #tart8Up !osts
4%- #ource and Use of unds
The following table demonstrates the proposed sources and uses of fundsJ To date the
owners have contributed approximately G*7,777 or "7F of the total cost to start the
business.
#'
Table 4%- #ource and Use of unds
4%) Brea08E(en Analysis
Total fixed costs are estimated to be G1/",7#*. The variable cost =overhead> is estimated to be
G".*7 per unit. .nits are assumed to beJ the combined average ofJ the average drin9, the
average appeti:er, and the average meal. Based on the assumption of G4.1& as the average sales
price per unit, the brea9even revenue then is G'&7,#1" or '2,#/& units. This is further depicted
in the Table Below and the (raph that followJ
#"
Table 4%) Brea08E(en Analysis
4%)%$ Pro5ected Profit and Loss
The ;BB(As estimated profit and loss for the initial three years of operations is
reflected belowJ
Table 4%,%$ Pro orma Profit and Loss
#&
#*
4%)%* Pro5ected !ash low
The statement of cash flow shows the incoming and outgoing cash of the business.
Table 4%,%* Pro orma !ash low
4%)%- Pro5ected Balance #heet
The following chart depicts the proforma balance sheetJ
#/
Table 4%,%- Pro orma Balance #heet
4%, Business Ratios
The following ratios are based on the %tandard 5ndustrial 3lassification =%53> code &12'
and the ;orth 8merican 5ndustry 3lassification %ystem =;853%> code /##"17 D bars and
nightclubs. The ratio analysis compares the sub!ect to industry peers based on similar
asset si:e and revenues.
#2
Table 4%2 Ratio Analysis
#4
This business plan template can be downloaded atJ
httpJ00www.fastbusinessplans.com0business-plan-template.html
,ree sample business plans are available atJ
httpJ00www.fastbusinessplans.com0sample-business-plans.html.
$any articles to assist in guiding you through the writing of your business plan are available atJ
httpJ00www.fastbusinessplans.com0business-plan-guide.html
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