How to Write a Singles bar Business Plan

Executive Summary

Ken Singles is a local bar and soft music hangout. It provides a leisurely relaxed place for singles and couples.

Tucked in the sleepy town of Sheffield the location has a high population of people within the age of 23 to 40. The bar features innovative programs that stimulate conversation between members. The business is expected to become profitable in two years.

1.1 Objective

The objective is to become profitable in a relatively short period. The local bar is expected to be the go place for patrons. We wish to increase cash flow and customer patronage with innovative services.

•         Become profitable

•         Popular hangout

•         Increase cash flow

•         Offer innovative services

1.2 Mission

The mission is to attract customers, provide excellent service.

Company Summary

Ken Singles provides a comfortable environment for easy social interactions between customers. The bar provides a huge selection of beverages and small chops.

The interior is designed to convey warmth while keeping with popular trends. The bar is located in the center of town for easy access of local community.

2.1 Company Ownership

The bar is owned by Ken Jacobs a former military attaché.

2.2 Startup Summary

Startup costs are equipment like refrigerators, freezers, mugs and dishwasher. Others are espresso machine, bar stools, bar counter, shelves and beer tap dispensers.

More include labor costs, legal, rent, cash register. Sink, commercial oven. We purchase computer, cookware, utensils, phone and bar furniture.

•         Refrigerators

•         Freezers

•         Dishwasher

•         Pint mugs

•         Espresso machine

•         Bar stools

•         Bar counter

•         Shelves

•         Beer tap dispensers

•         Labor costs

•         Legal

•         Rent cash register

•         Sink

•         Commercial oven

•         Purchase computer

•         Cookware

•         Utensils

•         Phone

•         Bar furniture

Funding Requirement

Funding is needed for cash requirements and non-cash assets. Ken will invest 50% of required startup and seek 50% bank loans. He will invest $100,000 and apply for bank loan of $100,000. Therefore total startup funding is $200,000.

Liabilities

The liabilities are current borrowing and account payable. Others are long-term liabilities, owner’s investment.

Products

The products include assortment of drinks, soft music and beers. The business will serve small chops, biscuits and cakes.

•         Night Life entertainment

•         Assortment of drinks

•         Soft music

•         Beers

•         Small chops

•         Biscuits

•         Cakes

•         Coffee

Marketing Analysis Summary

The business customer base are middle and upper middle class. Patron demography are people within the age group of 24 to 40. We accommodate group activities, single individuals and couples.

Market Segmentation

The bar would serve professionals and local people. Market segmentation is focused on singles of both sexes and couples.

The Target Market

The bar is for young individuals and strictly community based. Target income range of customers are those that earn over $39,000.

Competition

The business is highly competitive and challenging. Common competition are relaxation spots, fast food outlets, restaurants and night clubs. Other competition are coffee shops and other bars.

Strategy

We will use targeted advertisement, social platforms, word of mouth. The competitive edge is the unique approach, good customer relations and overall ambiance. Others are the combined bar, coffee shop and fun social setting.

More are our value added snacks, verity of drinks and soft music. The music is specially designed to encourage mingling and conversation. The bar has a closed smoking area to prevent cigarette smoke disturbing customers.

Sales Strategy

The main revenue is generated from beers and assorted drinks. The sales forecast are based on drinks and food.

Milestones

The milestone are preparing the business plan and first month profitability. Others are good choice of location and fostering vendor relationship.

Business license, liquor sales license, health and safety certification for food sales. Love connections and match made by patrons of the bar.

•         Write a Business Plan

•         Business Name

•         Business License

•         Secure Bank Loan

•         Good Location

•         Hire Staff

•         Vendor Relationship

•         Liquor License

•         Safety Certification

Personnel Plan

The personnel plan has the bartender, dishwasher, cleaner and bar manager. Others are bouncer, line cook, server, chef and owner.

Staff

•         Bartender

•         Dishwasher

•         Cleaner

•         Bar manager

•         Bouncer

•         Line cook

•         Server

•         Chef

•         Owner

Financial Plan and Assumptions

Assumptions are current interest rate, long-term interest rate. The profit/Loss is based on Sales and direct costs of sales.

Expenses

Expenses are permits, insurance, utility and depreciation. Payroll, rent sales, marketing and other expenses.

The projected cash from operations depends on cash sales for one year. Expenditures are cash spent, expenditure from operations and bill payments.

Expenditure on Operations

The expenditure for operations are sales tax, value added tax GST paid out. Spent on operations are principal repayment of current borrowing, other liability principal repayment. We have purchase other current assets, purchase of long term assets.

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