Krave Business Plan - Term Paper

Topics: Marketing, Strategic management, LGBT Pages: 48 (7759 words) Published: February 5, 2014


KRAVE
Tequila Therapy

Table of Contents

1
Section 1: Executive Summary (Business Description)2
Section 2: Code of Conduct12
Casa Margot strives to deliver the highest standards of hospitality and expects all of its employees to be personally responsible for conduct that is consistent with the best ethical standards. This code of business conduct and ethics is provided to help employees recognize and respect the standards expected every day Casa Margot. 12 Section 3: Marketing Plan (Strategy and SWOT)13

Section 4: Operations17
Section 5: Finance20
Section 6: Cash Flow Analysis24
Section 7: Information Management25
Repeat Business27
Section 8: Management Summary29
References33
Appendix36

Section 1: Executive Summary (Business Description)

Type of Business

This business plan is for Krave, Tequila Therapy a new indoor/outdoor bar located in the heart of super-trendy Wilton Manors, Florida. Krave’s emphasis will be offering an ultra-premium selection of tequilas and unique margaritas paired with an eclectic menu of Mexican tapas. Based on this distinct menu, Krave will provide unique and hard to find selections. The keys to success will be to promote Krave as a favorite local hang-out and lively tourist destination. Krave, Tequila Therapy will be formed as a Limited Liability Company. The business will be owned and operated by Don Donahue and Roger Hicks with Michael Kostas as the General Manager.

Krave’s Vision Statement
“Our vision, quite simply, is to be the most fabulous Tapas and Tequilas bar in the world”

Mission
“Our mission is to create an out-of –this-world experience for every guest through the ultimate selection of mind-blowing margaritas and tantalizing tapas.”

Location and Clientele
The location and clientele for Casa Margot are the most important elements. The bar will be located on Wilton Drive in Wilton Manors, FL which is in the center of greater Fort Lauderdale. The reason that this location is the most important element is because over the past several years Wilton Manors has experienced tremendous economic growth. Both commercial and residential properties continue to increase in value and demand. Along Wilton Drive is the city’s Arts and Entertainment District with shops, restaurants and entertainment. The main draw for this city is that it supports a thriving and robust gay community.

Wilton Manors has been anecdotally known as the South Florida’s gayest city. According to the 2010 census, with 140 per 1,000 Wilton Manors ranks number 2 in the country for the most gay couples (Rothaus, 2011). This growing gay population helps drive a thriving local economy as well. In 1996, when the first gay bar opened the average single-family home in Wilton Manors was worth $85,612. In 2011, it is $215,548, according to Ron Gunzburger, general counsel for the Broward Property Appraiser’s Office (Rothaus, 2011). This surge in property values and gay homeowners created a strong local economy of shops, bars, and entertainment venues that catered specifically to the tastes of gay consumers. Not only are the neighborhoods and businesses gay-owned and operated but the local government is as well. Many community leaders, including Mayor Gary Resnick, are gay. The city’s first gay mayor, John Fiore, was elected in 2000. Jim Stork, the following mayor was also gay. At the time, Wilton Manors had the only gay-majority commission in the eastern United States (Rothaus, 2011). All of these ingredients combine to make Wilton Manors a unique and highly-profitable environment for gay-owned businesses with the mission of serving the gay community.

Beyond the strong local economic base of the local Wilton Manors community, Fort Lauderdale ranks among the top destinations for gay tourists as well. According to the Greater Fort Lauderdale tourism bureau, there are more than 150 gay-owned establishments, including bars, restaurants, hotels, and shops in...

References: GLBT travel. (2010). Greater Fort Lauderdale Visitors Bureau. Retrieved
from http://www.sunny.org/visitors/
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