Are you about starting a sports bar and grill? If YES, here is a complete sample sports bar and grill business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting a sports bar and grill. We also took it further by analyzing and drafting a sample sports bar and grill marketing plan template backed up by actionable guerrilla marketing ideas for sports bar and grills. So let’s proceed to the business planning section.
Why Start a Sports Bar and Grill Business?
Sports have been a sport that have been loved and watched by both adult males and females from many centuries back. However, due to the evolvement of the industry, more people especially youngsters are also interested in the game.
Starting a sports bar and grill business can be a very lucrative business to start up and this is due to the fact that sports have come to be loved by many and also many now prefer to watch their favorite sports while hanging out and having a good tie with their friends as well in an environment that is considered conducive.
To however start this business, you would need to ensure that your place is spacious enough and that your sports and grills bar business is located in a strategic and conspicuous place.
Getting a business consultant is very important If you intend to start and run this business successfully. A business consultant who has vast knowledge of the industry and who stays in the same business environment will be very vital to get if you intend to start your sports and grills bar successfully.
Getting a business plan is also an essential element of any business. Writing a business plan yourself might not be so easy, and you can either pay a professional business plan writer to write one for you or go online to get sample templates that can act as a guide to writing yours. It is for this reason that a sample sports bar and grill business plan is written for you below;
A Sample Sports Bar and Grill Business Plan Template
1. Industry Overview
The advancement of technology has had a huge impact in advancing the sports bar and grill business here in the united states of America. This is as most sports bars have bigger screens that allow for maximum viewing so as to stay competitive.
Also, the advent of sports bars across the country has allowed customers view games that they cannot watch in their own homes, which is why most sport bars offer all that the NFL network has in order to attract and retain their customers.
A huge source of revenue has been added to sports bar and this is the betting technology that allows customers to not only watch their games but also bet on their favorites. Sports bars have begun to diversify the food on their menu and due to this have been able to compete with full restaurants, thereby killing two birds with one stone and generating more revenue to boost their bottom line.
Also, sport bars have begun to engage their customers by creating a space for games such as table hockey, shuffleboard, darts and so on that will allow their customers participate. According to the National Restaurant Association, food and drink sales in bars and taverns in the United States of America at 2016 had reached nearly $20 billion.
This figure is however small when compared to the wider restaurant industry were food and drink sales have been projected to rise to nearly $784 billion in the year 2016. Sports bar for instance have seen a growth in the consumption of alcoholic beverages as at 2015 by 7%.
2. Executive Summary
Sports has grown tremendously over the years which has led to the springing up of sports bar everywhere for customers who would love to watch sports with their friends and other sport lovers. Entrepreneurs who wanted to add more services that would attract the crowd started adding beverages and food so as to attract not only sports lovers but people who want to hang out as well.
You Win Sports Grill and Bar is a standard and reputable trendy place that is located in West Coast – Florida, and has been established to cater to all sports lovers both locals and tourists. Our aim as a business is not only to generate revenue for our business but also to make profit as well and eventually sustain and grow the business.
Our vision as a business is to ensure that we are known as the top sports and grill bar here in West Coast – Florida and all over the United States of America as well. Our intention is to be on the lips of locals and tourists alike by 2025, and to achieve this we intend to ensure that we build the best business structure that will ensure that all our goals and objectives are attained.
This is what has led to us ensure we deliberately pick a management team that not only has vast experience but is highly committed to the visions and goals of our company and will work hard to ensure that our business is taken from where we are to where we intend to be.
Our management staff will also ensure that they communicate our policies to lower staff and ensure that the communicated policies are understood and well implemented.
Asides from our management staff, we have also employed competent and professional staffs who understand the industry and also how to run this kind of business here in West Coast – Florida. We have ensured that the environment will be conducive enough and easily accessible for our staff so that they can perform their duties very well.
We have the best welfare packages for our employees across similar businesses of our size and start-up across the industry.
We have also put in place incentives for employees who work hard, whenever we carry out performance appraisals, as this is to encourage them to continue putting in their best. We will also ensure that all our employees receive continuous training that will boost their skills and increase productivity for the company.
Because we understand the importance of retaining our old customers while trying to attract new ones, we therefore have put several strategies in place that will ensure that our old customers receive certain discounts on their products as well as for referrals. New customers on the other hand will benefit from our wide range of incentives as well.
You Win Sports Bar and Grills is a business owned and run by two Chinese brothers, Mr. Yuan Young and Mr. Wing Young. Mr. Yuan has more than 15 years experience in running a sports bar and has managed several sport bars in different locations in the country and so understands the business thoroughly.
Mr. Wing is a customer service expert and has worked as a customer care executives for several organizations as well as in the hospitality industry for over 12 years. His experience and that of his brother will be greatly brought to bear to ensure that the business achieves its goals and objectives.
3. Our Products and Services
You Win Sports Bar and Grill is a leading sports here in West Coast – Florida that will offer all its customers both individuals and corporate services that are aimed at ensuring that they enjoy watching sports whilst also relaxing in a conducive environment as well. Our strategic location in West Coast – Florida will allow for us to generate enough revenue for our business.
Even though we intend to offer our core service of allowing customers relax and have fun while watching sports they love, we will also create other sources of income as well so that we would boost our bottom line and use that in sustaining our business.
All the revenue that will be generated by our sports bar and grill will be one that is legally permissible under the laws of the United States of America. Therefore some of the products and services that we will offer at You Win Sports Bar and Grills are;
- Sales of food, snacks and beverages
- Facility rental for private, special and corporate event
- Sports-book betting
- Consultancy services
4. Our Mission and Vision Statement
- Our vision is to ensure that we are known as the top sports and grill bar here in West Coast – Florida and all over the United States of America as well. Our intention is to be on the lips of locals and tourists alike by 2025.
- In order to achieve our vision, we have laid down strategies such as ensuring that we have a solid business structure, maintain tight control or our operating costs and aim for locations that have all the parameters for success.
Our Business Structure
Running the right business structure is very important to us especially as we are looking to build a business that is not only a standard and preferred industry leader but one that excels in all aspects. For this reason, we are prepared to go the extra mile in ensuring that we hire only competent and professional staffs to work with us at You Win Sports Grill and Bar Business.
The employees that we have sourced for to work with us are those who have the necessary experience required and have also keyed in to our vision and objectives and are therefore willing to ensure that all our goals and objective are fulfilled. These employees are also committed to ensuring that we become and maintain the preferred industry leaders here in the food and beverage industry.
We will ensure that our employees work in a conducive environment that is easily accessible and convenient for them. We will also ensure that the welfare packages of our employees are ones that is the best across the industry especially across similar start-ups such as ours.
We also ensure that they undergo continuous training as well that will not only enhance their skills but also improve productivity for us. Therefore the business structure we intend to build at You Win sports Bar and Grill Business is;
- Chief Executive Officer
- Human Resource Manager
- Administrative Manager
- Purchasing Manger
- Stores Manager
- Marketing Executives
- Customer Service Executives
- Security Guard
5. Job Roles and Responsibilities
Chief Executive Officer
- In charge of making policies that will affect the overall direction of the sports bar and grill
- Ensures that policies are effectively communicated and implemented to all the members of staff
- Liaises with high level clients on behalf of the company
Human Resource Manager
- In charge of souring for and recruiting competent employees on behalf of the organization
- Ensures that proper orientation and induction is conducted for each new employee so that they could acclimatize easily to the organization’s environment
- In charge of employee welfare, training and performance appraisals
- Ensures that all the administrative functions of the organizations runs smoothly
- Liaises with different department and ensures that they are well communicated
- In charge of ensuring that organizational policies are effectively implemented
- Procures all the supplies needed by You Win Sports Bar and Grills
- Sources for reliable vendors and suppliers on behalf of the sports bar and grills center
- Drafts the purchasing contract document on behalf of the company and reviews it on a consistent basis
- Ensures that all the stocks for You Win Sports Bar and Grills are clearly accounted for (incoming and outgoing)
- Checks stock levels consistently and ensures that they are re-stocked at certain levels
- Monitors industry trends and ensures that stocking practice is up to standard
- Conducts market research continuously and ensures that new markets are identified on behalf of the company
- Drafts effective marketing strategies for the company
- Conducts direct marketing on behalf of the company
- Responsible for ensuring that all the financial information and statement of the sports bar and grills are prepared accurately
- Ensures that the budget for use by the sports bar and grill is effectively implemented
- Prepares tax reports and submits same to relevant tax authorities
Customer Service Executives
- Responsible for ensuring excellent customer care by answering inquiries, taking bookings and promptly resolving complaints
- Keeps and regularly updates accurate customer database on behalf of the company
- Remains updated about industry trends and company policies in order to ensure that clients have the right information all the time
- Ensures that the premises of You Win Sports Bar and Grills is secured at all times
- Monitors the surveillance cameras in order to spot an anomaly
- Provides security info and tips to all employees
- Picks up deliveries on behalf of the company
- Supervises loading and offloading of supplies and ensures that they are in line with the necessary papers
- Carries out light maintenance on the vehicle whenever necessary
- Ensures that the sports bar is kept clean at all times
- Ensures that the rest rooms for guests and employees are kept neat and clean always
- Carries out any other duties as might be directed by the Human resources Manager
6. SWOT Analysis
Our intention of running a business that is of the highest standard here in West Coast – Florida has led us to seek the services of a reputable business consultant to look thoroughly into our business concept and help evaluate how well we were likely to succeed in the environment, favorably compete against our competitors here, and if it was worthwhile generally going into the business.
Therefore due to our request, our business consultant conducted a thorough analysis of our business particularly our strengths, weaknesses, opportunities and threats, in order to determine if these were enough to enable us survive in this industry.
The below analysis is the result of the SWOT analysis that was conducted on behalf of You Win Sports Bar and Grill;
One of our strengths lies in the fact that we are strategically located here in West Coast – Florida, which means there is going to be a large influx of customers coming steadily into our sports bar and grill center, thereby causing a big boost in our popularity and revenue, and allowing us to be able to favorably compete against our competitors.
We also have hired competent and professional employees who have the right experience needed to ensure that our business attains its desired goals and objectives. Our employees have been trained in excellent customer care which will lead to us retaining a huge number of our clients.
Finally, we intend to offer other services in addition to our core service, which will greatly allow us generate revenue and also boost our bottom line enabling us to remain in business for a very long time.
We are relatively new in the business and as such we are not yet known widely amongst our target market. Also, due to the fact that we are relatively new, we do not have the number of employees we seek to help run the various services we intend to offer our various customers.
We also are running on a limited marketing budget, which will severely limit the way our business will be publicized to the public.
The fact that we are new and have a whole lot of services in store for our potential and existing customers is enough opportunity for us as it means the more people come to know about our business, the better we would expand to accommodate them. We also intend to massively benefit from peak periods that will be available in the industry.
Facing threats is not an entirely new thing to any entrepreneur, as every serious business man should be prepared to handle any threats that might surface during the course of starting and running the business. A downturn in the economy can be considered a threat as that will mean less people will have the disposable income to want to hang out at sports bar.
Also, having to deal with the arrival of a competitor offering the same services as ours is enough threat. We however, have strategies in place to combat any threats we would likely face.
7. MARKET ANALYSIS
- Market Trends
Sports for centuries has been a beloved past time activity for people, either as participants or as the audience, which makes the sport industry one of the largest revenue generating industry in the entire United States of America. People gather to watch sports in bars due to various reasons either because the match venue isn’t close by, they do not have the fare or they do not like the rowdiness that is usually encountered at live ports grounds.
Sports bar and grills are a relatively new business that is growing rapidly globally and has found a willing audience willing to make this industry trend. The experience to be gotten in a sports bar and grill cannot be usually gotten in a stadium, which is why customers patronize such bars.
Sports bar and grill owners have had to be creative and think outside the box in order to retain a huge number of its customers especially as more of these kinds of bars keep cropping up every now and then.
8. Our Target Market
This industry is one that always sees a steady stream of customers at several times during the year. Even though it might likely seem that a sports bar and grill is limited to a certain group of people such as sports lovers, there are a whole lot of people that also patronize such centers.
Our strategic location here in West Coast – Florida is very vital as it affords us the opportunity to be close to our target market and be able to study the market in order to find new opportunities.
It is for this reason that we have decided to conduct a thorough marketing survey on our target market. This survey we have carried out would help us better understand the market we intend to serve, what they would be expecting from us and what identifiable traits we would need to identify.
According to the results of our research, we are therefore in business to be able to cater to the following group of people;
- Young adults
- Middle aged
- Baby Boomers
- Corporate Executives
- Sports personalities
- Sport lovers
- Business people
- Sports bettors
Our competitive advantage
You Win Sports Bar and Grill is a standard center that was established for sports lovers and other people alike where they could watch sports in an environment that was relaxed and secured.
Our intention is to ensure that we are known as the top sports and grill bar here in West Coast – Florida and all over the United States of America as well. We want to be on the lips of locals and tourists alike by 2025 and to achieve this vision we have drafted several strategies that will allow us compete favorably against our competitors.
Our first competitive advantage is to ensure that we offer our customers unique services that cannot be experienced in any other place but here. We intend to have a well organized system that will ensure that the place is not rowdy no matter what sports is on and how many people are watching.
The employees we have hired for our business are those that understand the business thoroughly and are also competent and well committed to ensuring that we achieve our goals and become the preferred sports bar and grills not only in West Coast but in the whole of Florida.
We value our customers because we understand that without them we cannot grow our business and attain the heights we intend to, which is why we have rolled out measures to ensure that we retain a high number of clients whilst also attracting new ones. We have discounts in place, coupons and other strategies that will ensure that we retain our customers.
Finally, because we value a solid business structure and intend to hire the best employees, we will also ensure that our employees are well paid and that they undergo constant training that will not only enhance their skills but boost productivity for our business as well.
9. SALES AND MARKETING STRATEGY
- Sources of Income
You Win Sports Bar and Grill is a leading and standard center in the industry that is established with the aim of not only generating revenue but also making profit within our first year of starting the business. We therefore intend to offer all our customers here in West Coast different services aimed at ensuring that they remain true to our business.
We therefore intend to offer the following services at You Win Sports Bar and Grill to our various customers;
- Sales of food, snacks and beverages
- Facility rental for private, special and corporate event
- Sports-book betting
- Consultancy services
10. Sales Forecast
There will always be people who want to hang out with friends to watch their favorite sports whilst having a drink or taking some snacks, which means that it is of a huge benefit to us to start this business here in West Coast – Florida.
We are optimistic that our strategic location here in West Coast will allow us attract enough customers to our business that will not only boost our revenue but will ensure that we have made suitable profit during our first year of operations.
However, in order to be able to know how well we can achieve this, we hired the services of a reputable sales consultant to examine the industry and our business thoroughly and help us analyze what our chances were and also what our sales forecast would be.
The information gathered by the sales consultant was based on several data and information gathered from similar start-ups such as ours in the industry as well as in our environment here in West Coast – Florida. Below therefore are is a three year sales projection that was conducted on behalf of You Win Sports bar and Grill and based on several assumptions;
- First Fiscal Year-: $350,000
- Second Fiscal Year-: $750,000
- Third Fiscal Year-: $900,000
N.B: The above sales projections which are for a three-year period was conducted based on what was obtainable in the industry.
Several factors such as stability of the economy and lack of a competitor were used in arriving at the sales projected figures. It should be noted that any change in any of the above factors will likely lead to an increase or decrease in the projected figures.
- Marketing Strategy and Sales Strategy
Marketing is a very important aspect of the business because revenue is generated during marketing and it is this revenue that is generated that helps sustain the business for as long as the owners want. Any business that does not engage in marketing is primed to die an early death as it is marketing that brings in the various customers for any business to grow, thrive and compete with its competitors.
However, before drafting marketing strategies for use; it is vital that one conducts a thorough market research. The market research is important because not only does it identify new markets and enables us understand it, it also allows us to understand how best to penetrate the market and get a huge share.
The market research conducted helps the company identify the threat of the market and what best way to attract and retain customers in order to ensure the survival of the business for a long time.
We sourced for and hired the services of a reputable marketing consultant here in West Coast – Florida who has a thorough knowledge of the industry and who also knows what marketing strategies are likely to be of benefit to our sports bar and grill business.
The marketing consultant will ensure that the drafted strategies also set us apart from our competitors whilst also creating awareness about us in the industry.
We intend to empower our marketing team so that they could also draft effective marketing strategies for the company in line with our corporate values and goals. Our marketing team will also be empowered to modify, draft and remove marketing strategies that are not effective or not likely to project the company in the best light.
Therefore, below are the strategies we intend to adopt in marketing You Win Sports Bar and Grill to our various customers;
- Ensure that we place adverts in local newspapers, sports related magazines as well as on local radio and television stations
- Throw a grand party when we launch our sports bar and grill in such a way that will not only generate interest but attract customers to our center
- Ensure that we engage in direct marketing and sales to our various customers
- Use social media platforms such as our Facebook Page, official Twitter account, Snapchat and Instagram to market our services to our teeming customers
- Ensure that our business is listed online as well as offline (yellow pages) directories
- Hand out handbills and fliers in several strategic locations
11. Publicity and Advertising Strategy
Having the right amount of publicity is very important for us as a business, especially as we have plans to achieve national recognition by 2025.
In order for us to be able to effectively compete with other brands, we will ensure that we draft effective publicity strategies that will allow us not only become known but become the preferred sports bar and grills here in West Coast – Florida.
To help us achieve the right number of publicity, we at You Win Sports Bar and Grill intend to hire a brand consultant that will ensure that effective publicity strategies are drafted for us that will allow clients, competitors and other stakeholders in the industry to become aware of our business.
The publicity strategies will also generate income for us as a business whilst positively communicating our brand to existing and potential customers. Therefore, some of the publicity and advertising strategies we will use for You Win Sports Bar and Grill are;
- Ensure that we install billboards in strategic and conspicuous locations all around West Coast – Florida
- Participate in and sponsor relevant sport related programs in the community
- Ensure that we place adverts in local newspapers, magazines as well as on radio and television stations
- Distribute our handbills and paste our fliers in strategic places and hangouts
- Ensure that our staff wear a customized tee shirt during work hours at our sports bar and grill
- Use our social media platforms such as Facebook and Twitter to actively promote our sports bar and grill business
12. Our Pricing Strategy
Due to the fact that we would be offering a combination of services and products, it might be tricky setting a price especially for our services that are intangible. However, we have decided to use several factors to help us arrive at a price that will not only be affordable for our customers but convenient for us as well.
The likely factors that we would be considering are our strategic location, the quality of services that we would be offering, what our competitors are offering, our running expenses and the popularity of our sports and grills bar will go a long way in determining what prices we would set.
However to gain more customers and attract new ones to our new sports bar and grill business, we intend to ensure we give low prices and even discounts during our first three months of operations. Having looked critically at this strategy, we are sure that even though our revenue might be low for these months, we would not be running at a loss during the intended periods.
- Payment Options
Due to the different services that we would be offering our clients, we intend to ensure that all our customers are offered different payment options that would be suitable and convenient for them and our business. The different payment options we therefore intend to offer at our sports bar and grill are;
- Payment by cash
- Payment by check
- Payment via Point of Sales (POS) Machine
- Payment via Credit Card
- Payment via online bank transfer
The above payment options are ones that were carefully chosen by us and will fully serve the intended purpose for our customers and our business as well. They will also run without any form of hitches.
13. Startup Expenditure (Budget)
In order to set up and start a standard sports bar and grill business, enough capital is needed because there are certain aspects that will require the bulk of this capital spent on.
The capital we will generate for our sports bar and grill business will be used to lease and renovate a facility, pay the salaries of employees and utility bills for a defined period of time, purchase a fairly used van as well as buy other necessary equipment that will make our sports bar and grill, a standard one.
The key areas that we will therefore spend our generated start-up capital on are;
- Total fee for registering our sports bar and grill business in the United States of America – $750
- Obtaining of licenses, zoning permits (municipality and state), accounting software and the rest – $1,250
- Purchasing insurance coverage (general liability, workers’ compensation, property insurance) – $5,000
- Cost of leasing a facility for a year and carrying out renovations – $50,000
- Costs of hiring business consultants – $5,000
- Operation expenses for the first 6 months (employee salaries and utility bill payment) – $150,000
- Purchase of official fairly used van – $20,000
- Purchase of necessary equipment for use (televisions and speakers)- $5,000
- General marketing expenses as well as promotion expenses for grand opening event – $5,000
- Other administrative start-up expenses (phones, furniture, computers and printers) – $6,000
- Cost of storage equipment (lockers, bins and shelves) – $10,000
- Cost of start-up inventory (beverages, food, and snacks) – $20,000
- Cost of launching an official website – $1,000
- Cost of throwing a grand launching party – $3,000
- Miscellaneous – $8,000
From the above analytical break down, we would need the sum of $290,000 to be able to start up and successfully run a standard sports bar and grill business here in West Coast – Florida that would be able to compete successfully with others here in Florida.
It should be noted that the bulk of the start-up capital we intend to generate will go into paying the salaries of our employees and utility bills for at least 6 months. The capital will also be used to lease and renovate a facility, buy the necessary start-up inventory and purchase a fairly used truck for business.
Generating Funding / Startup Capital for You Win Sports Bar and Grill Business
You Win Sports bar and Grill is owned equally and run by two brothers Mr. Yuan Young and Mr. Wing Young. The two Chinese brothers both have over 27 years experience in the business. They have therefore decided not to seek for any external partners for their business and will prefer instead to generate capital from these two sources.
The two areas where these two brothers intend to generate their start-up capital are;
- Personal savings
- Loan from commercial bank
N.B: We generated the sum of $90,000 from our personal savings. We approached the bank for the sum of $200,000 repayable in 10 years at the rate of 3%. All the paper works have been signed and the money will be credited to our account by the end of the week.
14. Sustainability and Expansion Strategy
In order to suitably sustain and expand our business, we have considered several factors that will enable us achieve this and they are re-investment strategy, a well built business structure as well as retention of loyal customers.
Our intention for our sports bar and grills business is that we are able to suitably generate enough revenue to enable us not only sustain the business but also re-invest in the business so that the business can start paying off for itself.
We are concerned in building a business structure that will be of huge benefit to our business and so we will hire competent and professional employees who understand the business and who are committed to seeing that we attain our intended goals and objectives.
Finally, we know the importance of customers to a business and are therefore willing to deploy strategies that will allow a huge percentage of our customers remain loyal to us and also refer their friends, colleagues and family members to our sports bar and grill business.
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
- 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
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress
- Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress
- Purchase of trucks: Completed