XYZ Bar is one of the famous and successful bars on ABC Boulevard. Timothy Halls and Jason Brenton are the owners of the XYZ Bar. We have a 10-year experience of running this bar with success. This premium bar provides a subtle, soft, and unwinding space to its customers. Our sitting areas are comfortable and relaxing. We serve the best quality beer and wines and have live music on the weekends in the bar. Our business is doing great and we want to open another branch in the ABC shopping mall.
We provide the following services at the XYZ bar and plan to continue the same pattern:
5 Signature cocktails
Premium Bar: Professional Bartenders serving high-quality and high standard alcoholic and non-alcoholic drinks
Platinum Bar: High standard service for Corporate Events, Galas, Fundraisers and Parties
Alcohol: We will purchase our alcohol from the State Distributing Company. Also, we will import some of the premium liquor from Italy.
Food: Our food suppliers will be the same companies that are already supplying us food to our XYZ bar.
Hours of operation:
Monday -Sunday: 6:00 pm- 3:00 am
ABC Shopping Mall, Alberta Street, Portland
Alcoholic and non-alcoholic drinks, snacks
4 workers will be hired for serving.
Our main objective is to set up a bar so the local community can get together and socialize in a relaxed and casual manner. Also,
XYZ bar is owned by Timothy Halls and Jason Brenton and is a registered company doing business in the state of Oregon.
We have acquired a 2-year lease plan for a shop in the ABC shopping mall. This mall is located on the main Boulevard and it is a very lively and happening area. The shop is 1,500 square feet area and the rent is $15/square feet. Moreover, there are a few offices, and universities within a walking distance. The shop is on the ground floor of the ABC shopping mall. We want to convert the shop into a premium bar with seating and serving arrangements. We think that opening up another branch of the XYZ bar at this spot will be a great opportunity for our business.
Our target market is the local community people with income higher than $30,000 who want to relax and chill out at the end of the day, ranging from the age group of 25-60.
According to studies, there are more than 40,000 bars operating in the United States. We conducted a survey in the area and the local people told us about the need to try a fine wine-drinking experience. Location plays a very important part in the success of any business. We will appeal to customers who do not want to go far to experience elegant wine and beer selection.
XYZ bar’s direct competitors will be the 2 bars located on the other side of Main Boulevard. One serves as a gaming bar and the other one is a pub. XYZ will position itself as an authentic and premium bar offering great taste in a relaxed environment.
We plan to advertise for our new branch, in all mediums, print, Internet, social media, and Radio. We will print advertisements in all newspapers and magazines. We will place flyers on the mall information desk, at the office reception areas, and in residential areas. Also, we will place ad banners on the internet to make people aware of our new XYZ bar branch opening. Also,
We would like ABC to initially invest $80,000 in the business. Estimated start-up expense details are provided below:
|Rent (1-year advance)||$5,000|
Legal paperwork includes getting approval from the concerned authorities. Equipment includes furniture, shelves, bar tops, electronic devices, smoke detectors, AC units, CCTV cameras, etc.
Expenses for each month will be the following:
Below is given an expected sales forecast for the year:
First 6 months: $70,000
First fiscal year: $130,000
Second fiscal year: $220,000
We would like to offer ABC, a 30% share in the net profit after the first fiscal year.
We already have all the required licenses, the list is provided below
We would seek your approval to finalize the things.
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