Bar Business Plan
Bar Business Plan - 5.0 Marketing Strategy and Implementation
Article Index
Bar Business Plan
2.0 Company Description
3.0 Products
4.0 Market Analysis
5.0 Marketing Strategy and Implementation
6.0 Organization and Management
7.0 Financial Plan
All Pages
5.0 Marketing Strategy and Implementation
The NB&G 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 market specials prepared by its culinary chef. The ambience and décor will be comfortable and relaxing and with the benefit of light jazz in the background, the bar and grille will be a one of a kind experience in the suburbs. The owners and staff are constantly aware of patrons changing likes and dislikes and the bar and grille will act quickly to make changes to meet these needs.
5.1 SWOT Analysis
The following information summarizes the SWOT analysis. SWOT stands for strengths, weaknesses, opportunities and threats. A SWOT analysis is a method for strategic planning that evaluates these four elements as they relate to the business objectives.
5.1.1 Strengths
Relatively easy entry and low capital outlay.
Committed owners with combined 35 years industry experience.
The NB&G will be a unique one of a kind experience in its suburban location.
Targeted, specific focus on its customers creates a memorable experience for its patrons resulting in repeat business.
5.1.2 Weaknesses
Disorderly patrons can potentially harm both business reputations or cause collateral damage.
Employee theft can make or break a bar business. Management’s exclusive use of the POS system mitigates this risk.
Very specific target market – if the target market was broader the owners could increase market share in the segment that was the strongest.
High turnover in bar industry – many bars are here today and gone tomorrow.
5.1.3 Opportunities
Opportunity to obtain a share of a $16.7 million market
5.1.4 Threats
Article Index
Bar Business Plan
2.0 Company Description
3.0 Products
4.0 Market Analysis
5.0 Marketing Strategy and Implementation
6.0 Organization and Management
7.0 Financial Plan
All Pages
5.0 Marketing Strategy and Implementation
The NB&G 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 market specials prepared by its culinary chef. The ambience and décor will be comfortable and relaxing and with the benefit of light jazz in the background, the bar and grille will be a one of a kind experience in the suburbs. The owners and staff are constantly aware of patrons changing likes and dislikes and the bar and grille will act quickly to make changes to meet these needs.
5.1 SWOT Analysis
The following information summarizes the SWOT analysis. SWOT stands for strengths, weaknesses, opportunities and threats. A SWOT analysis is a method for strategic planning that evaluates these four elements as they relate to the business objectives.
5.1.1 Strengths
Relatively easy entry and low capital outlay.
Committed owners with combined 35 years industry experience.
The NB&G will be a unique one of a kind experience in its suburban location.
Targeted, specific focus on its customers creates a memorable experience for its patrons resulting in repeat business.
5.1.2 Weaknesses
Disorderly patrons can potentially harm both business reputations or cause collateral damage.
Employee theft can make or break a bar business. Management’s exclusive use of the POS system mitigates this risk.
Very specific target market – if the target market was broader the owners could increase market share in the segment that was the strongest.
High turnover in bar industry – many bars are here today and gone tomorrow.
5.1.3 Opportunities
Opportunity to obtain a share of a $16.7 million market
5.1.4 Threats