Currently, the economic market condition in the United States is in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many economists expect that this recession will continue until mid, at which point the economy will begin a prolonged recovery period. However, bars operate with great economic stability as people will continue to frequent bars and nighttime entertainment locations despite deleterious changes in the general economy 4.
Economic census report indicates that there are over 48, individual establishments in the country. This number is expected to continue as bars including sports bars remain a popular form of entertainment among people under forty. The industry also employs more than , people nationwide. In this section, you can also put demographic information about your target market including population size, income demographics, level of education, etc.
The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories and searching in your local Yellow Pages. Below is an overview of the marketing strategies and objectives of the Sports Bar. Doe intends on using a number of marketing strategies that will allow the Sports Bar to easily target men and women within the target market.
Sales: The sales strategy is to build and open new locations on schedule in order to increase revenue. Each individual location will continue to build its local customer base over the first three years of operation. The goal is Rs. Market Analysis With the advent of globalization the amount of the audience majorly youth following the sporting leagues from the foreign countries has increased immensely over the last years. The major reason for the advent has been the quality of the game potrayed by the leagues which calls for the much seeked attention There are a wide variety of bars, restaurants, nightclubs that provide the experience of watching these sports on the big screens.
The demand for such screens can be seen to have increased multiple folds which has offered an opportunity. The division reflects the differences in marketing strategy that will be used to target each different market. In addition, the pub can expect to see these types of customers dropping in for some hours after work to unwind. The growth of this market segment as demonstrated in the Market Analysis table is based on the estimated growth of business establishments in the city.
Growth of this segment is based on the estimated population growth of city itself. Although there have been beer connoisseur all over since beer was invented, until recently government regulation was such that the industry was concentrated within a few national companies. These companies had few product lines and sought to produce large amounts of beer over very short time periods. This made for an overall low quality of domestic beers available at reasonable prices. Since deregulation the industry has rapidly fragmented, allowing small brewers to compete against the larger established companies on a local and even national level.
All this has inspired new connoisseur in brewing that has revolutionized the industry. With so many new types and brands of beer available, the customer that wants to try new types is being wooed by all industry participants. Some of the closest in terms of location and quality include the following: 1. Poptates specializes in beers with lots of hops, such as Budweiser. Furthermore the establishment has just had a very favorable article written about its cuisine in The Brunch magazine.
Its separate bar has an established clientele that attracts the young college crowd. It attracts a niche market of sports fans especially as it has widescreen TV's and hosts parties during games. During other times it attracts some of the customers that McKnight's is targeting such as the late night crowd. However, its tasting room has recently been expanded into a full-time pub and has gotten great reviews.
Its location close to the waterfront draws a large crowd. An average customer ticket is between Rs. Tickets are considerably larger for game day visitors. Our average customer spends more than the industry average for moderately priced establishments. We tend to believe that this is due to our creating an atmosphere that encourages longer stays and more spending but still allows adequate table turns due to extended hours of appeal. The closest sports bar is in Ridges, which is a forty minute drive away.
The current restaurants located in Car offer a casual dining experience but with no sports watching entertainment. The top competitor is BW3s which is in Ridges. BW3s is a sports bar that offers an extensive menu with chicken products, full bar service, and sporting events on many TVs.
BW3s has the same target market that Im trying to furnish to. While a premium is appropriate for the experience, the pricing has to be balanced in accordance with what we are serving.
All menu items will be moderately priced. Our target customer spends more than the industry average for moderately priced establishments. This is due to our creating an atmosphere that encourages longer stays and more spending, while still allowing adequate table turns due to extended hours of appeal.
Entrancing their audiences with high-powered lights, sound, music, and interactive entertainment, these venues are still one of the highest cash flow businesses in the world. Our localised studies have shown that the average person will spend three to four hours per weekend in this type of an environment and will spend an average of twenty to fifty dollars in that time frame. As we approach the new millennium, this trend shows no signs of declining.
The typical venue of our style is open from P. In addition to alcohol revenues, we will also generate substantial revenues from food sales that can typically range from seven to ten dollars per person, and admission fees that range between five and ten dollars per admit. This relatively simple concept is still quite popular today. However, these concepts have greatly evolved with society. In recent years this industry has become more sophisticated with the availability of new technology.
Larger metropolitan areas have taken this technology to new heights with sound, lighting, video and interactive designs that create an exciting and memorable experience. Fortunately, no one in Your State area has been a pioneer in this specific segment of the industry as of the date of this report.
Additionally, the nightclub and bar industry is shifting towards a more entertainment-oriented concept. Guests of these venues are not only offered a dynamic place to gather and mingle, but also a place to participate in the entertainment through interactive contests, theme nights, and other events.
We intend to heavily utilise entertainment-oriented marketing in an effort to withstand the perpetual shift in trends and cater to as large a client base as possible. Nightclubs and other drinking establishments rely heavily on their primary suppliers. The primary suppliers are the various beverage distributors that provide the establishment with both alcoholic and non-alcoholic beverages.Through his expertise, he will be able Ero report christian renewal school bring will be realized in less than 18 months of operation. Payback of total invested capital on the first location the premiere bar and grill in Sunny County. Doe is currently in the process of obtaining the liquor license for the Sports Bar.
There are many small restaurants in the area but none with the sports bar and grill theme shown in the appendix. Fortunately, the long, late night hours of operation help The Nightclub lend itself to multiple segment appeal. Most likely, the Company will hire a qualified business broker to sell the business on behalf of the Sports Bar. Advertising budgets and sports event promotion is an on-going process of management geared to promote the brand name and keep All Star at the forefront of sports theme establishments in each local marketing area. Management feels that this will solidify a repeat customer base that will regularly frequent the Sports Bar.
Our key personnel have a wide and thorough knowledge of the local manufacturing market and expertise, which will go towards penetrating the market. Focus on our target markets. Owner funding and internally generated cash flow will enable additional stores to open.
The new venue will specialise in high-energy themes, a quality video and gaming area, and will offer beer, wine and an array of liquors and mixed drinks. The division reflects the differences in marketing strategy that will be used to target each different market. Larger metropolitan areas have taken this technology to new heights with sound, lighting, video and interactive designs that create an exciting and memorable experience. Doe has more than 10 years of experience in the retail management industry. The business will measure and compare the number of guest per day, number of meals and drinks served, cost of supplies, and the waste percentage. However, its tasting room has recently been expanded into a full-time pub and has gotten great reviews.
This will provide a supervisory level between the executive level and the store management level. It measures the percentage of each sales dollar to pay fixed costs and make a profit. Poptates specializes in beers with lots of hops, such as Budweiser. Find out who your competitors are by searching online directories and searching in your local Yellow Pages.
The nightclub enthusiast, the tourist and business traveler, the local nightclub crowd, the local service industry as well as groups going out together, can all enjoy The Nightclub experience. Food service managers are plentiful. We want our customers to have more fun during their leisure time.