Company Name: 'Magnitude'
Dance orientated nightclubs have been around for nearly twenty years. They have astonished their audiences with powered lights, sound and music which make these venues one of the highest cash flow businesses in the world.
The Magnitude nightclub will be the leading, high-energy, themed dance and nightclub in the East-side of Birmingham. It will be a privately owned club and managed by: Akash Kumar; Ravi Pharhani; and myself Jaswant Sangha. Sales for the first year of trading are expected to be �7,000 and Gross Margin is expected to be �5,000. After the first year of trading the company is to make an Overall Net Profit of �,000. The Medium-Term sales are expected to be �7,000, Gross Margin �5,000, Overall Net Profit �2,000. The Long-Term sales are expected to be �0,000, Gross Margin �0,000, and Overall Net Profit �0,000.
Our goal is to stay one step ahead of the competition through a high standard service provision. Our customers will endure more fun and entertainment during their leisure time. We will provide more video and electronic technology per square footage than anyone else in the region. We will incorporate a unique and effective themed menu and atmosphere which will create a sense of 'belonging' for locals and tourists alike. Our company motto is 'It's what we do best that makes us what we are'.
� 牋牋牋牋Capitalise on excellent location opportunity.
� 牋牋牋牋To launch new venue with a highly publicised grand opening event in the summer of 2002.
� 牋牋牋牋Manage our internal finances and cash flow to enable upward capital growth.
� 牋牋牋牋To exceed �0,000 in annual sales by the third year of plan implementation.
� 牋牋牋牋To maintain a food cost below 25% of food revenue.
� 牋牋牋牋To maintain a total beverage cost below 15% of beverage revenue.
� 牋牋牋牋Strict control on all costs, at all times, without exception.
� 牋牋牋牋Provide exceptional service that leaves an impression.
� 牋牋牋牋Consistent entertainment atmosphere and product quality.
Appreciation of Current Situation
Summary of existing Strategy & Plans
� 牋牋牋牋Emphasise an entertaining experience - By assuring that all guests enjoy themselves, we will be securing market share through repeat business
� 牋牋牋牋Emphasise exceptional service - We must prove to customers that an exceptional service is still available and should be expected from our club. We need to differentiate from other service venues.
� 牋牋牋牋Focus on market targets - Our marketing and themes of mass appeal and music based entertainment will attract out target market segments.
In order to place emphasis on entertainment our tactics are to employ interactive entertainment, constant sensory appeal, and unique event viewing. Our specific program for interactive entertainment and constant sensory appeal are frequent contests, games, music and karaoke all hosted by an in-house DJ. Our second strategy is to emphasise on exceptional service, our main tactics are bi-monthly service training, employee recognition, and higher service employee to customer ratios. Our specific programs for training will include employee for life training for management and customer for life training for employees. Our specific employee recognition programs will include employee of the month and service excellence recognition awards.
Our promise fulfilment strategy is the most important. The necessary tactics are ongoing value-based training, maintenance, and attention to detail, especially after popularity has been established. Through empowering employees to solve problems without making customers wait for management consultation we create a win-win situation for the customer and the restaurant. Continuous and never-ending improvement through regular training is required to create a long-lasting impression.
External - Opportunities & Threats