Sample Business Plan on Night Club Business Plan
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EXECUTIVE SUMMARY
The Business Concept
Posh, LLC (Posh or the Company) will open and operate a restaurant, bar and nightclub at 123 Electric St in downtown CITY. This venue will provide one-stop dining and entertainment for clientele seeking a sophisticated, upscale dining and club experience. The venue will provide an individual or couple with the option of having a complete night out (dinner, dancing and live entertainment) at one location or venue.
The Company’s founder and owner, Mr. John Doe, already owns and operates several restaurants and nightclubs. His new venture will provide an unmatched level of customer service and an atmosphere not currently available in downtown CITY.
The restaurant will feature award winning, upscale food selections. The bar and lounge area will feature fine wine and liquor. The nightclub will also offer live entertainment including DJ’s, live bands, comedians, etc.
The Company’s venue is situated close to XYZ Avenue and is nearby the downtown business and entertainment corridor. It is less than 5 miles from concert, sports and theater venues.
In addition to the restaurant, bar and nightclub setting, the facility can also support private functions such as:
Ø Wedding receptions
Ø Holiday parties
Ø Company parties
Ø Business meetings
Excellent Market Opportunity
The property for the company will be in a growing and bustling area. It is located in downtown CITY close to the business and entertainment district. People routinely come to spend their free time and money in this thriving area.
Posh will take advantage of the downtown and nightlife to drive its growth. It will capture a fair share of corporate and private parties. The Company plans to promote many more private and corporate parties.
It also plans on designing more events to make sure it utilizes the size of the restaurant and the venue to its full capacity.
Profitable Growth
Posh 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 $885,000 in its first twelve months. Posh will achieve strong growth over the next several years, reaching $1.6 million in revenues and almost $339,000 of net income by the fifth year.
The Opportunity
U. S. Dining Out Continues to Increase
For Americans, eating out has become a way of life. Despite the recession, customers are still eating and ordering out. According to the National Restaurant Association’s 2010 Restaurant Industry Forecast, the following trends are expected in 2010: 1
Ø With the economic downturn easing, the restaurant industry is expected to show gradual improvement in 2010,
Ø Restaurant industry sales will grow by 2.5% in 2010 over 2009 and they are projected to reach $580 billion. When adjusted for inflation, 2010 sales will be essentially flat, which is an improvement over the 1.2 and 2.9 percent negative growth in real sales that the industry experienced in 2008 and 2009, respectively.
Ø The restaurant industry remains one of the nation’s largest private-sector employers with its 12.7 million employees, comprising 9 percent of the U.S. workforce.
Ø Restaurant industry job growth is expected to resume in 2010, and the industry is projected to add 1.3 million career and employment opportunities by 2020.
Consumers forced to cut back on spending say they aren’t dining out as often as they would like, and this pent-up demand will turn into restaurant traffic as economic recovery continues
The typical American consumer now is almost as likely to spend just as many dollars on food away from home as on food prepared at home. Government statistics show a continuing trend towards dining out as the fast pace lifestyle of today shows no signs of slowing down.
According to a report in 2006 from the U.S. Department of Agriculture's Economic Research Service (ERS), Americans spend 48.9 percent of their food dollars away from home – the highest percentage on record. That figure was only 37% thirty years ago. 2