Are you about starting a night club business? If YES, here is a complete sample night club business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting a night club business. We also took it further by analyzing and drafting a sample night club and bar marketing plan template backed up by actionable guerrilla marketing ideas for night club businesses. So let’s proceed to the business planning section.
Why Start a Night Club and Bar?
It is not a new thing to have people unwind in the United States of America after a long week of hard work and no play. As a matter of fact, all over the globe it is a known fact that the night club business have continued to gain more grounds as the years roll by. It is therefore one of the reasons why more and more people have continued to take to the industry.
What Does It Take to Start a Night Club and Bar Successfully?
Starting a night club business is something that needs some thorough feasibility studies. This is why some experts are paid to help budding entrepreneurs in a particular field gather information. This is so that one can launch out well equipped and can partake on a deep and smooth level. It also requires that one have all the necessary documentation so that one does not face the risk of being clamped down on.
If you think starting a night club on the front burner of your goals, then you may want to take some time out to do the needful- register your business, secure location, secure the various means through which you want to raise the capital that is needed to launch your business and sundry. Thereafter, it becomes really necessary that you draw up a business plan.
One of the challenges of drawing up a plan is hinged on the fact that it has to be really detailed. This is one the reasons why one may have to employ the services of an expert business plan writer who will have to be saddled with all that.
However, there is an easy route, and that route means that you have got to use an existing business plan template to pull yours off. There are load of resources on the internet that can help you scale through the hurdle. However, for the sake of an easy access, you may want to consider the sample nightclub and bar business below.
A Sample Night Club and Bar Business Plan Template
- Nightclub and Bar Business Overview
In the United States of America just like in most countries of the world, the nightclub and bar industry is indeed a very lucrative industry especially in countries / cities with healthy nightlife. For instance in the United States alone, statistics has it that the night club and bar 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.
The distilled spirits industry generates around $100 billion in United States of America. For those that run bars and night clubs, there major sources of revenue generation are the sale of assorted beers, distilled spirits, liquor, martinis, wine, food and non – alcoholic beverages.
Beer which is the major selling point for bars and nightclubs accounting for 37% of the revenue generated by nightclubs and bars in the United States is manufactured by more than 3,000 breweries (both conventional and microbrewery).
For example, statistics has it that the United States of America produced about 196 million barrels (23.0 GL) of beer in 2012 alone, and consumes roughly 28 US gallons (110 L) of beer per capita annually, and a larger percentage of this beers are sold in bars and night club and In 2011, the United States was ranked fifteenth in the world in per capita consumption, while total consumption was second only to China. This goes to show that bar and night club business is indeed a very lucrative business in the United States.
Although people still gather to socialize in bars and night clubs, just as they have always done in time past, but with factors such as driving while intoxicated and the 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 non – alcohol consumption in the US. In essence, the rate at which people consume beers and other drinks – both alcoholic and non – alcoholic is what determines the growth of bar and night club industry.
Any entrepreneur who wants to start a nightclub business in the US would definitely be confronted with tough competition out there. The truth is that, you will not only compete with other nightclubs in your location or city, but you would be competing with every other entertainment options such as bars (pubs), restaurants, casinos et al.
For instance, people go to bars to drink and socialize and they tend to get more when they go to night clubs or other entertainment hub. In night clubs, people do not only drink and socialize, but they also dance if they choose to and get entertained.
Lastly it is important to state that in as much as starting a nightclub business can be profitable and rewarding, the success of any new nightclub in the United States is not automatic. The chances of new nightclubs 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 nightclubs can recover their initial investment. In order words, just like loads of new businesses, the statistics for nightclubs do not favor the startups, you just have to have a long term investment plan if you intend starting your own nightclub and bar business.
Night Club and Bar Business Plan – Executive Summary
Banner & Bunny Nightclub and Bar is a standard nightclub and bar that will be located in the heart of Las Vegas – Nevada less than 20 minute drive from McCarran International Airport in Las Vegas, and few minute drive from Mandalay Bay Event Center. We conveniently located in the world’s headquarter for casinos and games; a commercial center that never goes to bed.
We are set to contribute our own quota to the already healthy nightlife that Las Vegas is known for. Aside from running a nightclub, we will also run a standard bar and we will make available assorted beers, crafted beers, wines, liquors, distilled spirits, martinis, non-alcoholic drinks, beverages and foods to all those that will patronize our nightclub and bar.
Banner & Bunny® Nightclub and Bar is going to be located in a conducive environment that is specifically designed for socializing and networking and free from all forms of violence. Our night club and bar facility is centrally located in a busy street and it has the capacity to accommodate 200 people per time. The facility is designed and constructed to meet both the health and safety standard 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 et al. This will be played at different times / days to create the ambience that our customers will cherish and opportunity for them to dance and be happy.
We are in the night club and bar business to make profits, and at the same time to give our customers value for their money and time; we want to give people patronize our nightclub and bar the opportunity to choose from the wide range of beers and other drinks that are manufactured in the United States of America.
Banner & Bunny® Nightclub and Bar will go all the way to bring in both local and national music artists to perform live in our nightclub and also to make available most of the brand of beers produced in the US.
Our goal is to make every day a day of celebration, networking and socializing for as many people that will patronize our nightclub and bar. No doubt, we will employ all publicity strategies that will enable our nightclub and bar to become the talk of town amongst the socialites in Las Vegas.
We have put plans in place to make our nightclub and car bubbling especially during weekends and also our facility will be highly secured because who want to attract everybody both celebrities and non-celebrities alike.
Banner & Bunny® Nightclub and Bar is owned by Barnabas Duke who has successfully managed several bars and night clubs in Los Angeles and Las Vegas prior to opening his own. He has the magic wand to attract people who go to bars and nightclub on a regular basis. Barnabas Duke has good working relationship with celebrities and key stakeholders in the entertainment industry not only in Las Vegas and Los Angeles, but also throughout the United States of America.
- Our Product
Banner & Bunny® Nightclub and Bar is going to operate a standard nightclub and bar that will make available every activity, services and product that can be found in a standard nightclubs and bars in the United States and in any part of the world.
We are in the nightclub and bar business to favorably compete with leaders in our industry. Aside from good music and dance, we will ensure that we go all length to make available assorted drinks in our bars. These are some of the products and services that will be found in our bar;
- Music and Dance (live band, karaoke, R & B, country side music and jazz et al)
- Standup Comedy
- Hall Rental Services for Parties
- Beers (Bud Light, Coors Light, Miller Lite, Budweiser, Michelob Ultra-Light, Natural Light, Busch Light, Bush, Redds Apple Ale, Sierra Nevada Pale Ale, Keystone Light, Pabst Blue Ribbon, Bud Light Lime, Bud Light Platinum Lager et al)
- Locally Crafted Beers (Pale Beers, Amber Beers, Dark Beers, Hebrew Beers, Gluten Free, Organic Brews, Cider et al)
- Distilled spirits
- Small Chops
- Non – alcoholic beverages
Our Vision Statement
Our vision is to establish a standard and secured nightclub and bar in Las Vegas – Nevada that will be the melting pot of all lovers of nightlife, social life, alcoholic and non – alcoholic drinks.
- Our Mission Statement
Our mission is to establish a nightclub and bar business that will create a standard of excellence in the industry. We want to grow our nightclub and bar business to be listed amongst the top 10 nightclubs and bars in the United State within the first 5 years of opening our doors to the general public.
- Our Business Structure
Banner & Bunny® Nightclub and Bar is a business that is established to be a pacesetter when it comes to how standard nightclubs and bars should be run in Las Vegas and even in the United States of America.
We have the goal of assembling a team of dedicated workforce who will give our customers excellent customer 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 all lovers of nightlife, social life, alcoholic and non – alcoholic drinks in Las Vegas – Nevada.
In view of the above, we have been able to follow suit on what is obtainable in standard nightclubs and bars in the U.S. and perhaps improve on the structure with time when the need arises. Below is the shape and structure we will build Banner & Bunny® Nightclub and Bar on;
- Chief Executive Officer (Owner)
- Nightclub / Bar Manager
- Bartender / Baristas
- Accountants / Cashiers
- Greeters / Customer Service Agent / Table Attendant
- Security Officers
Roles and Responsibilities
Chief Executive Officer – CEO:
- Responsible for providing direction for the business
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for recruitment
- Responsible for payment of salaries
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Nightclub / Bar Manager:
- Responsible for managing the daily activities in the nightclub
- Ensure that the facility is in tip top shape and conducive enough to welcome customers
- Interfaces with vendors
- Reports to the Chief Executive Officer
- Attends to Customers complains and enquiries
- Prepares budget and reports for the organization
- Responsible for Training and Development in the organization
- Responsible for procuring of raw materials and equipment
- Handles any other duty as assigned by the CEO
Bartender / Baristas:
- Interacts with customers, take orders for drinks and snacks.
- Plans and presents bar menu.
- Checks identification of the guest to make sure they meet age requirements for purchase of alcohol and tobacco products.
- Mixes ingredients to prepare cocktails and other drinks.
- Mixes drinks, cocktails and other bar beverages as ordered and in compliance with hotel standard drink recipes.
- Prepares alcohol or non-alcohol beverages.
- Services Wine and Beer to guests.
- 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 / management
- 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 and serving guests.
Accountant / Cashier:
- Collects payment for drinks served and balance all receipts.
- Prepares financial report at the end of every working week
- Handles all financial transaction on behalf of the company
- Interfaces with our bankers
- Responsible for payment of tax, levies and utility bills
- Handles any other duty as assigned by the CEO / microbrewery manager
Disc Jockey (DJ)
- Ensures that customers are entertained with the best of music per time
- Manage the sound system for the nightclub
- In charge of music collections
- Responsible for providing music at events.
- Responsible for developing music playlists.
- Interacts with public at parties.
- Responsible for mixing music tracks.
Greeters / Customer Service Agent / Table Attendant
- Opens doors and welcome customers
- Ensures that customers feel relaxed and at home
- Handles customers enquiries
- Assesses customers’ needs and preferences and make recommendations
- Ability to Sell or influence others for up selling and suggestive selling.
- Provides recommendations and suggestions to guest for choosing Drinks and Snacks.
- Serves customers in a friendly and helpful manner.
- Provide guidance to guests on resort activities, dining options and general resort and Regional information.
- Determines when a customer has had too much alcohol and if required refusing any further serving on a polite way.
- Demonstrates a thorough knowledge of food and beverage products, menus and Promotions
- Handles any other duty as assigned by the night club / bar manager
- Handles and move objects, such as glasses and bottles, using hands and arms.
- Cleans up after customers and clean work area.
- Clears ashtrays as and when required.
- 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 Nightclub / bar manager.
- Ensures that the nightclub and bar facility is secured at all time
- Controls traffic and organize parking
- Gives security tips to staff members from time to time
- Patrols around the building on a 24 hours basis
- Submit security reports weekly
- Handles any other duty as assigned by the nightclub / bar manager
Night Club Business Plan – SWOT Analysis
Banner & Bunny® Nightclub and Bar is established with the aim of becoming the melting pot of all lovers of nightlife, social life, alcoholic and non – alcoholic drinks in Las Vegas – Nevada and to become a pacesetter when it comes to how standard nightclubs and bars should be run in Las Vegas and even in the United States of America which is why we have taken our time to critically analyze and conduct SWOT analysis to be able to identify areas we need to work on if indeed we want to achieve our business goals and objectives.
No investor would want to invest his or her hard earned money without assessing the risks involved in the venture and also 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, Banner & Bunny® Nightclub and bar hired a business and HR specialist to help conduct SWOT analysis for the business and below is a summary of the result that was generated;
Our strength as a nightclub and bar business are, excellent and detailed customer service, highly secured and safe facility, Availability of a wide range of assorted drinks, beverages, tobaccos and food. We can boast of having some of the best hands in the industry, excellent facility, excellent ambience and perfect location for a nightclub and bar in metropolitan and bubbling city like Las Vegas.
Our perceived weakness could be that we are a new nightclub and bar in a highly competitive city like Las Vegas, and we may not have the financial muscle to sustain the kind of publicity we want to give our business.
There are unlimited business opportunities available to nightclub and bar businesses in busy cities like Las Vegas. No doubt, Las Vegas happens to be one of the cities in the world where social life is at its peak. Another opportunity that we stand to leverage on is the fact that we can easily order any brand or beer and drinks directly from the manufacturer with little or no stress.
One of the threats that is likely going to confront us is unfavorable government policies, security threat, downturn in the economy which is likely going to affect sales and perhaps the emergence of new night clubs and bars (competitors) within the same location where our bar is located.
Night Club and Bar Business Plan – MARKET ANALYSIS
- Market Trends
In recent time, the societal shift away from alcoholic drinks toward healthier lifestyles is to a larger extent contributing to a steady decline in the amount of individual spending allocated to trips to bars and nightclubs plus the fact that nobody wants to be caught driving while drunk. As a matter of fact, it is now becoming trending to find nightclubs and bars educating their customers on the danger of driving while drunk.
The recent market trend in the nightclub and bar industry is such that the increase in the number of consumers choosing packaged beverages and entertainment for home consumption rather than at bars or nightclubs is also on the increase. This trend is surely going to have lasting impacts on both the bar business and nightclub business.
Statistics has it that the number of bar and nightclub business establishments is forecast to decline slightly but that does not in any way affect the revenue generated by those who are still in business. In fact, the revenues are expected to grow as the economy improves and consumer spending increases. The industry revenue is projected to grow to about 2.5% per year over the next 6 years.
It is also important to point out that personal income and entertainment contributes greatly to the numbers of people that patronize bars and night clubs. Although there are loads of clients for nightclub and bar business, but the profitability of individual nightclubs and bars within the location where they operate depends largely on their ability to drive traffic and develop a loyal customer’s base.
Bars and nightclubs do not only compete with one another alone, they also share the available market with other businesses like restaurants, hotels, casinos and outlets that retails drinks for home consumption.
- Our Target Market
As a standard nightclub and bar, Banner & Bunny® Nightclub and Bar will offer a wide range of services and products hence we are well trained and equipped to services a wide range of clientele base.
The target market for our nightclub and bar cuts across people of different classes and people from all walks of life, local and international tourists as well. We have done our feasibility studies and market survey and we were able to identify those who we expect will patronize our nightclub and bar eventually become our loyal customers; our target market.
Below is a list of the people and organizations that we have specifically design our nightclub and bar (products and services) for;
- Corporate Executives
- Business People
- People in the entertainment industry
- Event planners
- Sports Men and Women
- Government Officials
- College Students
Our Competitive Advantage
We are aware of the stiff competition that exist in the nightclub and bar cum entertainment industry in Las Vegas, the truth is that despite the fact that the level of competition for nightclub and bar business is pretty high in Las Vegas, one thing is certain, if you know how to drive traffic to your nightclub and bar, you will sure make huge returns from the business.
Good enough, the owner of our nightclub and bar has the magic wand to attract nightlife lovers; he has done it with several nightclubs and bars that he has managed both in Los Angeles and Las Vegas.
Part of what is going to be our selling point in Las Vegas is the fact that we operate a standard nightclub and bar, in a perfect location for the kind of business that we run and also the fact that our nightclub and bar facility is highly secured. Another factor that will give Banner & Bunny® Nightclub and Bar competitive edge is that we have enough packing space to accommodate the numbers of customers our nightclub and bar can contain per time.
We are not ignoring the fact that we are among the few neighborhood nightclubs and bars in downtown Las Vegas that sells almost all the brands of beers, crafted beers, wines, distilled spirits, liquors et al and obviously, that will surely count towards our advantage in the market place and also the robust experience of our CEO and the nightclub and bar manager is also a positive for Banner & Bunny® Nightclub and Bar.
Night Club and Bar Business Plan – SALES AND MARKETING STRATEGY
- Marketing Strategy and Sales Strategy
Top of the list on our marketing and sale strategy document is generating a buzz for our night club and bar via word-of-mouth and leveraging on road show.
The model of nightclub and bar we intend running is a standard nightclub and bar that can favorably compete with other leading nightclubs and bars in the United States hence we are not going to rely only on the conventional ways of marketing. We have the plans to run paid adverts on Local TV stations, local radio stations and local newspaper. 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 the brand of beers produced in America in our nightclub and bar, we have assorted drinks and tobaccos et al.
In view of that, we are going to adopt the following strategies to ensure that we do not only attract customers to patronize our nightclub and bar but generate repeated sales from them; Part of the marketing and sales strategies that we will adopt is;
- Open our nightclub and bar in a grand style with a party for all.
- Ensure that we have a wide range entertainment services (standup comedy, live band, concerts and karaoke et al) and products (beers, wines, 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 nightclub and 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 on road shows within our neighborhood to create awareness for our nightclub and bar.
Sources of Income
Banner & Bunny® Nightclub and Bar is established with the aim of maximizing profits in the nightclub and bar cum entertainment industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis.
Banner & Bunny® Nightclub and Bar will generate income by offering the following products and services;
- Music and Dance (live band, karaoke, R & B, country side music and jazz et al)
- Standup Comedy
- Hall Rental Services for Parties
- Sales of Beers (Bud Light, Coors Light, Miller Lite, Budweiser, Michelob Ultra-Light, Natural Light, Busch Light, Bush, Redds Apple Ale, Sierra Nevada Pale Ale, Keystone Light, Pabst Blue Ribbon, Bud Light Lime, Bud Light Platinum Lager et al)
- Sales of Locally Crafted Beers (Pale Beers, Amber Beers, Dark Beers, Hebrew Beers, Gluten Free, Organic Brews, Cider et al)
- Sales of Assorted Wines
- Sales of Distilled spirits
- Sales of Liquor
- Sales of Martinis
- Sales of Small Chops
- Sales of Non – alcoholic beverages
- Sales of Tobacco
It is important to state that our sales forecast is based on the data gathered during our market survey and feasibility studies and also some of the assumptions readily available on the field. Below is the sales projection based on the location of our nightclub and bar and all the products and services we offer;
- First Year-: $200,000
- Second Year-: $550,000
- Third Year-: $1,500,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and any major competitor offering same additional 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.
- Our Pricing Strategy
The prices of our Beers, Locally Crafted Beers, Wines, Distilled spirits, Liquor, Martinis, Small chops, Non – alcoholic beverages, and Tobacco 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 and services once in a while and also to reward our loyal customers. The prices for gate fees for our special shows such as musical concert and standup comedy show will depend on the caliber of artists that will be performing in the show.
- Payment Options
Our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our pub;
- Payment by cash
- Payment via Point of Sale (POS) Machine
- Payment via online bank transfer (online payment portal)
- Payment via Mobile money
In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any difficulty.
Night Club and Bar Business Plan – Publicity and Advertising Strategy
We know that being in the faces of our potentials is one of the keys to really breaking even. That is exactly what we plan to do. Regardless of the fact that our nightclub and bar is well located in Las Vegas, Nevada, we will still go ahead to intensify publicity for the business. We are going to explore all available conventional and non – conventional means to promote our retail business.
Banner & Bunny® Nightclub and Bar is a standard nightclub and bar hence we will ensure that we create the buzz that will make people in Las Vegas know about us and what we do. We are quite aware that one of the effective ways of promoting our nightclub and 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 Banner & Bunny® Nightclub and Bar;
- Encourage our loyal customers to help us use Word of Mouth
- Sponsor relevant community programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our nightclub and bar brand
- Install our Bill Boards on strategic locations
- List our nightclub and bar in local directories (Yellow Pages)
- Engage in road show from time to time
- Distribute our fliers and handbills in target areas
- Position our Flexi Banners at strategic positions around our bar location.
Start – Up Expenditure (Budget)
If you are looking towards starting a nightclub and bar business, then you should be ready to go all out to ensure that you raise enough capital to cover some of the basic expenditure that you are going to incur. The truth is that starting this type of business does not come cheap.
You would need money to secure a standard facility in a secure environment, you could need money to acquire sound system / public address system and you would need money to pay your workforce and pay bills for a while until the revenue you generate from the business becomes enough to pay them. Besides it is expensive to acquire a standard facility with enough car parking space.
The items listed below are the basics that we would need tick when starting our nightclub and bar business in the United States, although costs might vary slightly;
- The Total Fee for Registering the Business in Las Vegas, Nevada – $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.
- Cost of accounting software, CRM software and Payroll Software – $15,000
- Cost for payment of rent for 12 month at $1.76 per square feet in the total amount of – $105,600.
- Cost for facility remodeling – $25,000.
- Other start-up expenses including stationery – $500
- Phone and utility deposits – $2,500
- Operational cost for the first 2 months (salaries of employees, payments of bills et al) – $60,000
- The cost for Start-up inventory – $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
- Cost for serving area equipment ( glasses, flatware) – $3,000
- Cost for store equipment (cash register, security, ventilation, signage) – $13,750
- 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
We would need an estimate of $500,000 to successfully launch our nightclub and bar in heart of Las Vegas, Nevada. This amount includes the salary of all employees and the CEO (Owner) for 2 months.
Generating Funding / Startup Capital for Banner & Bunny® Nightclub and Bar
Banner & Bunny® Nightclub and Bar is a private business that is owned by Mr. Barnabas Duke and he intends to finance the business alone. Although he has plans to make the nightclub and bar manager part owner of the business after 3 or 5 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 he is the sole financier of the business, he has decided to adopt the following means to generate start – up capital for the business;
- Generate part of the start – up capital from his personal savings and sale of his stocks
- Source for soft loans from family members and friends
- Apply for loan from my Banks
N.B: Mr. Barnabas Duke has been able to generate $250,000 the breakdown shows that he generated $150,000 from his personal savings and sale of his stocks and he generated $100, 000 soft loans from his family members and friends. The balance of $250,000 will be generated as loan facility from his bank.
Night Club and Bar Business Plan – Sustainability and Expansion Strategy
Part of the grand plan of sustaining Banner & Bunny® Nightclub and Bar is to make the nightclub and bar manager a part owner of the business. The truth is that if the owner of the nightclub and bar is not going to be active in the running of the business, the chances of his or her staff members defrauding him or her will be higher.
From our findings, another factor that kills new business is financial leakages. In order to plug financial leakages, the management of Banner & Bunny® Nightclub and Bar will adopt the use of payment machine and accounting software to run the business.
In the bid to building a successfully business, we will ensure that all our employees are comfortable and we will provide them with the best of facilities and welfare package that will help them achieve peak performance in all their duties and in turn help the organization achieve its goals and business objectives.
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
- Graphic Designs and Printing of Packaging Marketing / 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 drinks, tobacco and small chops: In Progress