Sample Business Plan on Bowling Alley Business Plan
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EXECUTIVE SUMMARY
The Business Concept
ABC Group, LLC dba AAA Bowling Lanes, Restaurant/Lounge (AAA Bowling Lanes, or the Company) will become the premier bowling center in the State area. The Company will provide high-tech video walls, custom sofas, and sophisticated fixtures that will appeal to the most discerning of clientele. In addition, delicious restaurant items and a swanky bar will leave customers begging for more. The Company will be located in City, State.
AAA Bowling Lanes, will combine menu selection, atmosphere, ambiance, and service to create a sense of "place" in order to reach its goal of over-all value in a dining/entertainment experience. The Company’s goal is to be a step ahead of the competition. AAA Bowling Lanes, wants its customers to have more fun during their leisure time. It will have the best sound and lighting system in the area along with live diversified entertainment.
A Family Venue
The Company’s facility will cater to families. It will meet the need of customers to have a competitively priced bowling alley facility combined with the latest in lighting and sound systems and longer operating hours. AAA Bowling Lanes, will be considerably different than the typical bowling alley. Customers will be attracted because of the Company’s atmosphere, pricing, and facilities. All customers will be made to feel welcome and as part of the family.
Great Location
The Company’s location is in a growing and bustling area, AnyPlace MarketPlace which has energized the CITY community. AnyPlace MarketPlace signifies the renaissance of a region once overlooked and under-estimated, now redefining itself as a community known for friendly neighborhoods, safe streets, and excellence in education. It is the largest shopping center to open in State since Discover Mills and with it come approximately 2,000 jobs for South Fulton residents.
A Growing Market
AAA Bowling Lanes, will take advantage of several factors to drive its growth. It is rare in today’s world that a true market void exists. The bowling industry is currently enjoying a period of unprecedented popularity, financial stability and positive change. By applying new technology, broadening its customer focus and offering a diversity of entertainment options, bowling has been able to tap into the country’s renewed emphasis on family activity and traditional values.
Bowling attracts a remarkable customer base: More than 60 million people bowl at least once a year, and well over 3 million of those actively participate in league play. By launching aggressive marketing programs and adding complementary activities, AAA Bowling Lanes, center will define itself as a “family entertainment center”, which will make it more effective competitors for the entertainment dollar.
Profitable Growth
AAA Bowling Lanes, expects to gain a profitable market share within a very short period of time. Determinations have been made for the size of the market, amounts of budgeted advertising and promotional dollars, the number and kinds of distribution channels and the competitive landscape.
Projections call for the Company to generate revenues of $3.18 million in its first twelve months. AAA Bowling Lanes, will achieve strong growth over the next several years, reaching $4.86 million in revenues and more than $817,000 of net income by the fifth year.
The Opportunity
In 3200 B.C., according to archaeological evidence, a game very similar to today’s bowling was played by ancient Egyptians. Games much like bowling also date back to medieval Europe and American colonists, but modern tenpin bowling was “developed with the German immigrant community in America in the mid-nineteenth century,” states the encyclopedia. The invention of the automatic pinsetter was introduced in 1951, which impacted the game greatly. Americans love to bowl as it remains one of our most popular sports. 1
For the second consecutive year, bowling was ranked U.S.’ number one participatory sport; in 2007 the sport represented a total of more than 67 million bowlers and 5,400 bowling centers across the nation.
Analysts predict continued growth in the bowling center industry, according to Strike Ten Entertainment, a market research firm for the Bowling Proprietors' Association of America (BPAA). Sales revenue has been growing steadily in the bowling industry over the past several years, reporting a $10 billion impact on the U. S. economy as sports enthusiasts, especially within the younger generation, continue to climb.
Jim Sturm, Chairman of Strike Ten Entertainment, stated “We are very pleased to report that 2007 was a great year for the bowling industry. Centers are enjoying increased profitability and seeing a broader consumer demographic." Sturm added, "From the Wall Street Journal to Good Morning America, the media is reporting on bowling as an industry that is on the rise with trendy young consumers. More young people and young families are bowling and centers across the country are selling more food and beverages than ever before."
Today’s entertainment bowling centers include:
Ø Lounge areas
Ø Games
Ø Food/beverage
Ø Technologies
"These new entertainment bowling centers are generating quadruple the revenue of traditional venues and many longtime centers are stepping up their game and undergoing renovations to tap into surging interest from young adults and young families," stated Sturm. "While the misperception still exists that bowling is a sport enjoyed by older males, the average bowler is now 29 years old with 49 percent being female."
Over the last several years the sport of bowling has experienced substantial growth in high school and collegiate levels, according to research. Furthermore, more than 45 states, up from 20 states six years ago, recognize bowling at the high school varsity level, allowing the sport to maintain its status over ice hockey as “the nation’s fastest growing high school sport.” In addition to high school participation, a jump of 1% to 2% has been recorded at the collegiate level for “nearly every year for the past decade”, reflecting unprecedented popularity with college students. It should be noted, however, that studies indicate that over half of all bowlers are recreational players. 2
Hoovers, Inc., an industry research firm, reports the bowling center industry has over 5,000 facilities with more than $3 billion in combined annual revenue. AMF Bowling worldwide and Brunswick Corporation are the two major players in this highly fragmented sports segment, with the top 50 companies holding 30% of total industry sales.
Driving industry demand includes:
Ø Leisure time
Ø Personal income
Ø Demographics
Smaller businesses in this field maintain customer loyalty through offering superior customer service and a unique local experience.
In overall sales, 60% of revenue comes from lane usage fees; 30% is generated in the food and beverage sector. At many of the centers house snack bars, cocktail lounges, and restaurants are provided. The majority of sales at these