Sports Bar Business Plan
Watching sports is a group activity. People need a place to go to watch, cheer, eat their favorite game foods, and get their favorite drinks. After a night of enjoyment, they happily go home.
Take Five Sports Bar and Grill strives to be the premier sports theme restaurant in the Southeast Region. Our goal is to be a step ahead of the competition. We provide more televisions with more sporting events than anywhere else in the region. We provide table-top audio control at each table so the customer can listen to the selected program of their choice without interference from background noise. We combine menu selection, atmosphere, ambiance, and service to create a sense of "place" in order to reach our goal of overall value in a dining/entertainment experience.
Bars and Taverns are local gathering places where customers can eat bar food and drink alcohol-based and non-alcoholic drinks. They can have entertainment which includes music, bands, comedy shows, and dancing. Specials may be offered to increase attendance or draw certain audiences. There are different types of bars such as cocktail bars, wine bars, biker bars, gay bars, lesbian bars, alternate bars, singles bars, and college bars. Minors can have restricted access based on time of day or whether they are accompanied by an adult. Most municipalities regulate hours of operation and zoning laws.
According to Technomic’s BarTAB report, the top 100 nightclub & bar venues generated $1.5 billion in total revenue. Nearly two-thirds of operators surveyed experienced revenue growth in excess of 10%. The bar and nightclub segment grew 3.9% in 2012. The industry is projected to continue experiencing competition from non-industry establishments such as restaurants as well as from people opting to drink at home.
The distilled spirits industry has been lucrative, but federal and state excise taxes play a significant role. Distilled spirits are heavily taxed consumer products in the United States. Supplier sales were up 4 percent in 2014 to $23.1 billion, and total U.S. volume growth increased 2.2% to 210 million cases. Overall retail sales of distilled spirits in the U.S. market are nearly $70 billion, supporting hundreds of thousands of jobs in the hospitality industry and producing over $20 billion in tax revenues for all levels of government.
Of the total 58,829 establishments in 2009, 20.2% were classified as drinking places, accounting for 11,502 establishments and $4.1 billion in 2009 revenues.
Take Five Sports Bar and Grill strives to be the premier sports theme restaurant in the Southeast Region. We provide more televisions with more sporting events than anywhere else in the region. We provide table-top audio control at each table so the customer can listen to the selected program of their choice without interference from background noise. We combine menu selection, atmosphere, ambiance, and service to create a sense of "place" in order to reach our goal of overall value in a dining/entertainment experience.
First-year operations will produce a net profit of $445,000. The confidence level for final first-year numbers is extremely high. The first 10 months of start-up costs, sales revenues, and operating expenses are actual.
The keys to success in achieving our goals are product quality, managing finances, controlling costs, and instituting management controls.
A combination of local media and event marketing will be utilized at each location. The strategy of live broadcasting and pro sports tie-ins has been most effective in generating free publicity.
The sales strategy is to build and open new locations on schedule in order to increase revenue. Each individual location will continue to build its local customer base over the first three years of operation.
The key elements of Take Five’s restaurant store concept are sports-based themes, distinctive design features, high-profile locations, celebrity events, retail merchandising, and quality food.
The Company delivers quality service by providing attentive and friendly service with a high ratio of service personnel to customers. Additionally, the Company invests in the training and supervision of its employees.
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