Are you about starting a cocktail bar? If YES, here is a complete sample cocktail bar business plan template & feasibility report you can use for FREE. Okay, so we have considered all the requirements for starting a cocktail bar. We also took it further by analyzing and drafting a sample cocktail bar marketing plan template backed up by actionable guerrilla marketing ideas for cocktail bars. So let’s proceed to the business planning section.

Why Start a Cocktail Bar?

If you have eyes for good cocktail drinks, as well as a penchant for business, then you may want to think of starting your own cocktail bar business. The market for cocktail bar business has continued to soar because there will always be people who appreciate cocktail drinks.

The cocktail bar business is one business that cannot go out of fashion because people would always appreciate good cocktail drinks. Depending on the scale you want to start, the startup capital for this type of business can range from small to moderate. As a matter of fact, it is advisable to sell other alcoholic and nonalcoholic drinks in your cocktail bar if indeed you want to maximize profits in this business.

If you are sure that this type of business is what you truly want to do after you must have conducted your market research and feasibility studies, then the next step to follow is to write a good business plan; a detailed blue print of how you intend raising your seed capital, setting up the business, managing the flow of the business, sorting out tax and marketing your services.

The truth is that it is one thing to have a fantastic business plan, it is entirely another thing for the business plan to translate to profits, that is why it is important to assemble a team of experts to work with if you want to be successful with your cocktail bar business.

Below is a sample cocktail bar business plan template that will help you successfully write yours with little or no stress

A Sample Cocktail Bar Business Plan Template

1. Industry Overview

A cocktail bar is a bar or small restaurant where cocktail is the main drink available; a characteristic feature of many standard cocktail bars is a wide selection of assorted cocktail drinks.

A cocktail is a mixed drink typically made with a distilled beverage (such as gin, brandy, vodka, whiskey, tequila, cachaça or rum) that is mixed with other ingredients. If beer is one of the ingredients, the drink is called a beer cocktail.

Cocktails contain one or more types of liqueur, juice, fruit, sauce, honey, milk or cream, spices, or other flavorings. Cocktails may vary in their ingredients from bartender to bartender, and from region to region. Two creations may have the same name but taste very different because of differences in how the drinks were prepared.

In the united states of America just like in any part of the world, the bar and nightclub industry that cocktail bar business is a part of is indeed a very lucrative industry. In the United States alone, the bar and night club industry generate a whooping sum of $20 billion in revenue annually from about 45,000 established and recognized bars and night clubs in the US.

Although people still gather to socialize in bars just as they have always done in time past, but with factors such as driving while intoxicated and increase in crime rates, the drinking pattern in bars is being affected. Also, the growing concern as regards health and fitness toward the end of the 20th century was part of what redefined alcohol consumption in the US.

In essence, the rate at which people consumes beers and other drinks both alcoholic and non – alcoholic is what determines the growth of bar and night club industry.

Statistics has it that the Cocktail industry in the United States of America is worth $656 million, with an estimated growth rate of 4.1 percent. There are about 1,151 legally registered and licensed cocktail bars scattered across the United States of America and they are responsible for employing about 11,504 people. The industry is an open industry hence a low level of market share concentration.

Any entrepreneur who wants to start a cocktail bar business in the US would definitely be confronted with tough competition. The truth is that you will not only compete with cocktail bars in your location or city, but you would be competing with every other entertainment option such as wine bars, night clubs, restaurants, casinos et al where cocktails are retailed.

Lastly, it is important to state that in as much as starting a cocktail bar business can be profitable and rewarding; the success of new cocktail businesses in the United States is not automatic. The chances of new cocktail bars to struggle within the first 6 months of launching can’t be ruled out.

As a matter of fact, it can take between two to five years before most cocktail bars can recover their initial investment. In order words, just like loads of new businesses, the statistics for cocktail bars do not favor startups, you just have to have a long term investment plan if you intend starting your cocktail bar business.

2. Executive Summary

Bennardo Paulo® Cocktail Bar is a neighborhood cocktail bar that will be located in Lake Street Petoskey, Michigan. Our facility is centrally located and it is close to a residential estate in the heart of the city. Lake Michigan community is one of the best small towns in the Midwest.

It scores a perfect 100 on walkability, a measure used by urban planners to reflect the ability to stroll to shops, restaurants, parks and other amenities. With mild, sunny summer weather, vacationers come from cities like Chicago, Detroit and St. Louis et al, to enjoy the cocktail bars, bookstores, coffee shops and boutiques.

We are set to make available assorted cocktails such as beer cocktail, cocktails with brandy and cocktails with cachaça, cocktails with gin, cocktails with ouzo, cocktails with rum, cocktails with sake, cocktails with tequila, cocktails with vodka, cocktails with whisky, cocktails with fortified wines, cocktails with champagne, cocktails with a liqueur as the primary ingredient and a host of other drinks and food, to all our customers in a conducive environment that is specifically designed for socializing and networking.

Our bar facility is centrally located in a busy street and it has the capacity to accommodate 100 people per time.

Bennardo Paulo® Cocktail Bar is designed and constructed to meet both health and safety standards as recommended by the local authority. Our customers are going to be treated with good music at all times. We have made provision for live band, karaoke, country side music and jazz etc. which will be played at the background to create the ambiance that our customers will cherish.

We are in business to make profits at the same to give our customers value for their money; we want to give people the opportunity to choose from the wide range of cocktails and other drinks that are manufactured in the United States of America.

Our goal is to make every day a day of celebration, networking and socializing for as many people that will patronize our cocktail bar. No doubt, we will become the talk of town amongst socialites in Lake Petoskey – Michigan because we have put plans in place to make our cocktail bar lively 24 hours a day and 7 days a week and highly secured because we want to attract everybody (celebrity and non-celebrity alike).

We will ensure that all our employees are selected from a pool of customer centric people in and around Lake Petoskey – Michigan and also from any part of the United States. We will make sure that we take all the members of our workforce through the required training that will position them to meet the expectation of the company and to compete with other players in the United States.

Bennardo Paulo® Cocktail Bar is owned by Bennardo Paulo and his immediate family members. Bennardo has managed several bars and night clubs in Milan and Las Vegas prior to moving to Michigan to start his own cocktail bar. He is a member of the Bartender Association and a notable cocktail maker.

3. Our Products and Services

Bennardo Paulo® Cocktail Bar is in the cocktail bar industry to make profits and we will ensure we will make available a wide range of cocktail drinks to our customers. These are some of the products that will be found in our bar;

  • Assorted cocktails such as cocktails with absinthe, beer cocktail, cocktails with brandy, cocktails with cachaça, cocktails with gin, cocktails with ouzo, cocktails with rum, cocktails with sake, cocktails with tequila, cocktails with vodka, cocktails with whisky, cocktails with fortified wines, cocktails with champagne, cocktails with a liqueur etc
  • Alcoholic drinks
  • Non-alcoholic beverages
  • Tobacco

4. Our Mission and Vision Statement

  • Our vision is to establish a standard cocktail bar in Petoskey – Michigan that will be the melting pot of all lovers of cocktail drinks.
  • Our mission is to establish a cocktail bar business that will make available a wide range of cocktails and other drinks at every given time to our highly esteemed customers and provide a place where people can network and socialize.

Our Business Structure

Bennardo Paulo® Cocktail Bar is established to be a pacesetter when it comes to how cocktail bars should be run in in the United States of America. We will assemble a team of dedicated workforce who will give our customers excellent service at all times, a team that will ensure that we will continue to have repeated customers and a team that will indeed make us the melting pot of cocktail lovers.

Will work hard to ensure that we only attract people with the right mindset to help us achieve our business goals and objectives in record time. Below is the business structure that we will build Bennardo Paulo® Cocktail Bar;

  • Chief Executive Officer (Owner)
  • Bar Manager
  • Bartender/Baristas
  • Accountant
  • DJ
  • Greeters/Customer Service Agent/Table Attendant
  • Cleaners
  • Security Officers

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions
  • Responsible for providing direction for the business
  • Responsible for training, evaluation and assessment of employees
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Bar Manager:

  • Responsible for managing the daily activities in the cocktail bar
  • Ensures that the facility is in tip top shape and conducive enough to welcome customers
  • Interfaces with vendors
  • Attends to customers complains and enquiries
  • Handles any other duty as assigned by the CEO

Bartenders/Baristas:

  • Interacts with customers, take orders for cocktails and snacks.
  • Plans and presents bar menu.
  • Checks identification of guests to make sure they meet age requirements for purchase of alcohol and tobacco products.
  • Mixes drinks, cocktails and other bar beverages as ordered and in compliance with hotel standard drink recipes.
  • Arranges bottles and glasses to make attractive displays.
  • Assesses customers’ needs and preferences and make recommendations.
  • Makes lists of supplies in conjunction with the bar manager.
  • Prepares inventory or purchase requisitions as needed to replenish supplies.
  • Ensures that the assigned bar area is fully equipped with tools and products needed for mixing beverages.

Accountant

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for the company
  • Serves as internal auditor for the company

Disc Jockey (DJ)

  • Ensures that customers are entertained with the best of music per time
  • In charge of music collections
  • Responsible for mixing music tracks

Greeters/Customer Service Agent/Table Attendant

  • Opens door and welcome customers
  • Ensures that customers feel relaxed and at home
  • Handles customers’ enquiries
  • Provide recommendations and suggestions to guest for choosing cocktail and snacks.
  • Serves customers in a friendly manner.
  • Determines when a customer has had too much alcohol and if required refusing any further serving in a polite way.
  • Demonstrates a thorough knowledge of food and beverage products, menus and Promotions
  • Handles any other duty as assigned by the bar manager

Cleaners

  • Cleans up after customers
  • Washes glassware and utensils after each use.
  • Maintains a clean working area by sweeping, vacuuming, dusting, cleaning of glass doors and windows, etc. if required.
  • Ensures that toiletries and supplies don’t run out of stock
  • Handles any other duty as assigned by the bar manager.

Security Officers

  • Ensures that the facility is secured at all time
  • Controls traffic and organize parking
  • Patrols around the building on a 24 hours’ basis
  • Submits security reports weekly
  • Any other duty as assigned by the bar manager

6. SWOT Analysis

Bennardo Paulo® Cocktail Bar is established with the aim of becoming the melting point of lovers of cocktail in Petoskey – Michigan which is why we have taken our time to conduct our SWOT analysis to be able to identify areas we need to work on if indeed we want to achieve our business goal.

No investor would want to invest his or hard earned money without assessing the risks involved in the venture and his or her capability to deliver and make profits from the business. The ability to make profits from any business and to favorably compete with competitors in the industry starts with the result you get from your SWOT analysis.

In view of that, Bennardo Paulo® Cocktail Bar hired a business to help conduct SWOT analysis for the business and below is a summary of the result that was generated.

  • Strength:

Our strength as a company are excellent customer service, wide range of cocktails and assorted wines, beverages, tobaccos and food; excellent facility, excellent ambiance and perfect location for a bar in metropolitan city like Petoskey.

  • Weakness:

Our perceived weakness could be that we are new business, and we may not have the financial muscle to sustain the kind of publicity we want to give our business.

  • Opportunities:

There are unlimited business opportunities available to cocktail bar businesses in busy cities like Lake Michigan community. It scores a perfect 100 on walkability, a measure used by urban planners to reflect the ability to stroll to shops, restaurants, parks and other amenities. Another opportunity that we stand to leverage on is the fact that we can easily order any brand of drinks directly from the manufacturer with little or no stress.

  • Threat:

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing/spending power. Another threat that may likely confront us is the arrival of a new cocktail bar or even a wine bar, night club or restaurant in same location where our target market exist and who may want to adopt the same Business model like us.

7. MARKET ANALYSIS

  • Market Trends

The societal shift away from alcoholic drinks toward healthier lifestyles is to a larger extent contributing to a steady decline in the amount of household spending allocated to trips to bars and nightclubs plus the fact that nobody wants to be caught driving while drunk

The recent market trend in the industry is the increase in the number of consumers choosing packaged beverages for home consumption rather than at bars or nightclubs. This trend is surely going to have lasting impacts on both the bar and nightclub business alike. Even though the trend of cocktail bars in the United States was not well received in the 1980s, they began to gain popularity in the 90s.

In the early part of the millennium, cocktail bars became very popular and started popping up in many metropolitan neighborhoods across major cities in the United States of America. Cocktail bars now compete with the local hangouts such as coffee shops and local bars. The cocktail bar sensation offers the taste before you buy philosophy.

No doubt, cocktail bars put a new spin on cocktail tasting. They seek to remove the association of cocktail with high – end clientele and overwhelming wine lists and replace it with a more casual and relaxing atmosphere. Many cocktail bars are furnished with cozy booths encased in rich colors and plush surroundings in hopes their guests will linger. The phlegmatic environment lends itself to a good socializing setting with a less crowded feel and more intimate appeal.

In recent time, cocktail bars have begun to incorporate a larger variety of food choices as part of their product offerings. Traditionally associated with cheeses and desserts, cocktail bars are looking to combine wine with appetizer-sized gourmet selections to increase the enjoyment their customers stand to gain when they patronize them.

The concept brings the tastes of fancy restaurants to a dressed-down setting. So also, it is now common to find restaurant owners and chefs take the opposite approach and use cocktail bars as an opportunity for expansion.

8. Our Target Market

Before starting our cocktail bar business in Petoskey – Michigan, we conducted a market survey and feasibility studies and we are certain that there is a wide range of people who would patronize our bar on a regular basis. In view of that, we have created strategies that will enable us reach out to various groups of people who are likely going to become our loyal customers.

Below is our target market;

  • Corporate Executives
  • Celebrities
  • Taxi Drivers
  • Socialites
  • Business People
  • Sports Men and Women
  • College Students
  • Tourists

Our competitive advantage

Competition in the cocktail bar industry will remain intense, stimulating industry consolidation. Major companies are expected to continue streamlining operations for cost savings. We are mindful of the fact that there are competitions in the cocktail bar industry in the United States of America; hence we have been able to hire some of the best business developers to handle our sales and marketing.

Our competitive advantages are control of distribution arrangements, aggressive marketing – given the high level of competition and economies of scale. Part of what is going to be our selling point in Petoskey – Michigan is the fact that we operate a standard cocktail bar, in a perfect location for the kind of business that we run and also the fact that our bar facility is highly secured.

Other factors that will give Bennardo Paulo® Cocktail Bar competitive edge is that we have enough packing space to accommodate the number of customers our bar can contain per time and secure payment platform. We are not ruling out the fact that we have a dedicated and customer centric workforce that are willing to go the extra mile to give our customers full value for their money and time whenever the patronize our cocktail bar.

We are not ignoring the fact that we are among the few neighborhood cocktail bars in downtown Lake Michigan that sells almost all the types of cocktails and the brands of wines available in the United States of America, and that will surely count in our advantage in the market place and also the robust experience of our CEO and the bar manager is also a positive for Bennardo Paulo® Cocktail Bar.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and objectives.

9. SALES AND MARKETING STRATEGY

  • Sources of Income

Bennardo Paulo® Cocktail Bar is established with the aim of maximizing profits in the cocktail bar industry and we are going to go all the way to ensure that we do all it takes to attract our target market. The sources of income for Bennardo Paulo® Cocktail Bar are stated below;

  • Assorted cocktails such as cocktails with absinthe, beer cocktail, cocktails with brandy, cocktails with cachaça, cocktails with gin, cocktails with ouzo, cocktails with rum, cocktails with sake, cocktails with tequila, cocktails with vodka, cocktails with whisky, cocktails with fortified wines, cocktails with champagne, cocktails with a liqueur
  • Alcoholic drinks
  • Non – alcoholic beverages
  • Tobacco

10. Sales Forecast

One thing is certain when it comes to cocktail bars, if your cocktail bar is well stocked and centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Petoskey – Michigan and we are quite optimistic that we will meet our set target of generating enough profits from our first six months of operation and grow the business and our clientele base.

We have been able to critically examine the cocktail market we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Petoskey – Michigan.

  • First Fiscal Year: $250,000
  • Second Fiscal Year: $500,000
  • Third Fiscal Year $900,000

N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same products and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

  • Marketing Strategy and Sales Strategy

Top of the list on our marketing and sale strategy document is generating a buzz for our cocktail bar via word-of-mouth and leveraging on road show.

The model of cocktail bar we intend running is a neighborhood bar hence we are not going to rely only on the conventional ways of marketing. We don’t have the plans to run paid adverts on Local TV and radio stations or even local newspapers but we will sure maximize every other available means to promote our business.

Our unique selling proposition is that we have a collection of almost all cocktail options in our bar, we have assorted drinks and tobaccos et al. In view of that, we are going to adopt the following marketing strategies to ensure that we do not only attract customers but generate repeated sales from them.

Part of the marketing and sales strategies that we will adopt are;

  • Open our cocktail bar in a grand style with a party for all.
  • Introduce our cocktail bar by sending introductory letters alongside our brochure to organizations, households and key stake holders in Petoskey – Michigan
  • Ensure that we have a wide range of cocktails, wines, beers, liquors, distilled spirits, martinis and non-alcoholic drinks at all times.
  • Make use of attractive hand bills to create awareness and also to give direction to our bar
  • Position our signage / flexi banners at strategic places
  • Position our greeters to welcome and direct potential customers
  • Create a loyalty plan that will enable us reward our regular customers
  • Engage in roadshows within our neighborhood to create awareness for our bar

11. Publicity and Advertising Strategy

Bennardo Paulo® Cocktail Bar is a neighborhood bar and we will ensure that we create the buzz that will make people in our area know about us and what we do. We are quite aware that one of the effective ways of promoting our bar is to create special internal promotions which in turn will help us achieve our aim of leveraging on word of mouth publicity.

Here are the platforms we intend leveraging on to promote and advertise Bennardo Paulo® Cocktail Bar;

  • Encourage the use of word of mouth publicity from our loyal customers
  • Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Google+ and other platforms (music online forums) to promote our business.
  • Ensure that our we position our banners and billboards in strategic places all around Petoskey – Michigan
  • Distribute our fliers and handbills in target areas in and around our neighborhood
  • Advertise our cocktail bar business in our official website and employ strategies that will help us pull traffic to the site
  • Brand all our official cars and vans and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

The prices of our cocktails and other products that we sell will be what is obtainable in the market. In fact, we will try as much as we can to sell below the industry’s average so as to attract loads of customers. We also have plans in place to discount our products once in a while and also to reward our loyal customers.

  • Payment Options

The payment policy adopted by Bennardo Paulo® Cocktail Bar is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Bennardo Paulo® Cocktail Bar will make available to her clients;

  • Payment with cash
  • Payment via credit cards/Point of Sale Machines (POS Machines)
  • Payment via online bank transfer
  • Payment via check
  • Payment via mobile money transfer

In view of the above, we have chosen banking platforms that will enable our clients make payment for the purchase of our cocktails and other drinks without any stress on their part.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a cocktail bar business; it might differ in other countries due to the value of their money.

This is what it would cost us to start Bennardo Paulo® Cocktail Bar in the United of America;

  • The Total fee for registering the business in the United States of America – $750.
  • Legal expenses for obtaining licenses and permits as well as the accounting services totaling – $1,200.
  • Marketing promotion expenses (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
  • Cost for hiring business consultant – $2,500.
  • Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
  • The cost of accounting software, CRM software and Payroll Software – $15,000
  • The cost for payment of rent for 12 months at $1.76 per square feet in the total amount of – $105,600.
  • The cost for facility remodeling – $25,000.
  • Other start-up expenses including stationery – $500
  • Phone and utility deposits – ($2,500)
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
  • The cost for Start-up inventory (purchase of assorted alcoholic and nonalcoholic drinks, sparkling water, energy and sports drinks and mixers) – $16,027
  • Storage hardware (bins, utensil rack, shelves, glasses case) – $3,720
  • The cost for counter area equipment (counter top, sink, ice machine, etc.) – $9,500
  • The cost for serving area equipment (glasses, flatware) – $3,000
  • The cost for store equipment (cash register, security, ventilation, signage) – $13,750
  • Office equipment and furniture – $3,600
  • The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
  • The cost of Launching a Website – $600
  • The cost for our grand opening party – $5,000
  • Miscellaneous – $2,500

From our market survey conducted, we would need an estimate of two hundred and fifty thousand dollars ($250,000) to successfully launch our cocktail bar in downtown Petoskey – Michigan.

Generating Startup Capital for Bennardo Paulo® Cocktail Bar

Bennardo Paulo® Cocktail Bar is a private business that is owned by Mr. Bennardo Paulo and his immediate family members and they intend to finance the business alone. Although they have plans to make the bar manager part owner of the business after 5 or 7 years of services, but that does not stop him from reserving well over 80 percent stake of the business for himself and his family.

Since they are the sole financier of the business, they have decided to adopt the following means to generate startup capital for the business;

  • Generate part of the startup capital from his personal savings and sale of his stocks
  • Source for soft loans from family members and friends
  • Apply for loan from the banks

N.B: Mr. Crespo Columbus and his wife have been able to generate $100,000 the breakdown shows that they generated $80,000 from their personal savings and sale of their stocks and they generated $20,000 soft loans from their family members and friends.

The balance of $150,000 will be generated as loan facility from his bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business close shop.

One of our major goals of starting Bennardo Paulo® Cocktail Bar is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to retail our cocktails a little bit cheaper that what is obtainable in the industry and properly position our cocktail bar, ensure adequate security, availability of various cocktails and brand of wines and excellent customer service et al.

Bennardo Paulo® Cocktail Bar will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

  • Business Name Availability Check: Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Renting of facility and remodeling the facility: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Printing of Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of the Needed furniture, electronic appliances, office appliances and bar accessories: In progress
  • Creating Official Website for the Company: Completed
  • Creating Awareness for the business both online and in the neighborhood: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Opening party/launching party planning: In Progress
  • Establishing business relationship with vendors – suppliers of all our needed wine, alcoholic and non – alcoholic drinks, tobacco and small chops: In Progress
Joy Nwokoro