Night Club Business Plan
Night Club Business Plan for County Park Lounge
This night club business plan is for County Park Lounge, which will focus on attracting different customers from Davenport, Lowa, particularly students from Kaplan University. It is factual that the population of the students has been growing rapidly in the area reaching up to more than 10% annually. There are approximately 10 night clubs located in Davenport which have been thriving and performing well for the past decade. These night clubs include Connections Nightclub, 1 Hundred West, Carriage Haus, Shenanigan’s Irish Pub and Joes Club among others. Writers who offer strategic management assignment help at Edudorm essay writing service notes that County Park Lounge will offer a unique experience to the target customers by presenting an elevated energy dance-theme setting that will cater the needs of the college students while in the club. This will be strategically placed in the central location of the club and reinforced with unique décor and wide selection of disco lights to increase the competitive advantage of the club.
Business Overview in the Night Club Business Plan
Additionally, this night club business plan notes that the club will focus on unique energy themes, wine, liquor, beer and mixed drinks which will enhance the uniqueness of the club. Other products that will be offered in the club will include nonalcoholic beverages, casual foods such as appetizers and soft drinks. The operational hours of the club in the first fiscal year will be 5:30 P.M to 3:00 A.M in four nights weekly. However, regardless of the fact that the club will be established primarily to attract the college students, County Park Lounge will offer accommodation services for the visitors and guests from outside Davenport or even out of the state. Experts who offer MBA assignment help at Edudorm essay writing service indicates that citing from the target market of County Park, this night club business plan notes that the the major market segments will include college women and men where the greatest concern shift to the side of the college women who appear to be get more entertained in night clubs than college men. This is intended to enhance the uniqueness of the club since none of the local nightclubs seem to create a supportive environment for this specific target group. Thus, this will help the club attract more customers within the target market.
Target Market Segmentation for Night Club Business Plan
The projected sales in the first three years of operation are projected to increase with not less than 6% which will also be reflected in the net profit.
This night club business plan notes that the startup cost of the club is approximated to be $35,000 where assets take approximately $14, 0000, expenses add up to $16,000 and the remaining $5,000 is for any other expenditure. The capital will be obtained from personal savings and a business loan of $25,000.
Mission
To enhance customer relations by promoting uniqueness in products and services offered in a supportive environment
Vision
To become the dominating nightclub in Davenport and the surrounding in offering unique and quality services to college students from different universities in the area
As Verreynne and Meyer (2010) assert, the competitive advantage of small firms is enhanced by identifying some of the factors that affect the success of the firm. This night club business plan notes that the mission and vision of County Park Lounge are based on understanding the core market segment. Authors who offer strategy assignment help at Edudorm essay writing service points that this means that understanding the demands of the college students with regard to entertainment products and services will be the major determinant of the club’s success.
Keys to Success for the Night Club Business Plan
- Offer unique products and services that fit the demands of the customers
- Quality and consistent entertainment for the customers
- Effective management of internal and external flow of finances
- Maintenance of foods and drinks costs below 20% of their revenue
The Management Structure of the Night Club Business Plan
The management structure of County Park Lounge will start with the club manager, who will be followed by at least five bartenders, three cooks, DJ, cleaning and serving staff. As aforementioned, one of the keys to success for this club is management of internal and external finances flow. As a result, this night club business plan notes that the club will employ an accountant to make sure that cash flow is effectively and appropriately recorded in the financial statements. In this case, I will be the club manager as the owner of the business in order to supervise the daily operation of the club and engage in the hiring process. I want to be on the full control of the business with regard to the hiring and training of the staff, deciding the appropriate business strategy to implement, and making sure that the business is complying with applicable laws and regulations. As Verreynne and Meyer (2010) states, I want to be in a participative strategy-making. Tutors who offer business development assignment help at Edudorm essay writing service acknowledges that the significance of this type of strategy-making is that it is effective in implementing emergent strategies since it does not demand for a formal process such as dialogue or consultation. Additionally, as a manager, I will pay more attention on the finances flow to make sure that every penny is accounted for appropriately. Generally, I will be able to supervise and follow the progress of the business and note any fault that might materialize. This means that the club will run effectively as the management will be at my hands and according to my wish with regard to the objective that I projected while starting up the club.
References
Verreynne, M., & Meyer, D. (2010). Small business strategy and the industry life cycle. Small Business Economics, 35(4), 399-416.
https://www.bplans.com/nightclub-business-plan
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