Bar and Tavern Business Plan

Foosball Hall is a new gaming hall and bar in Madison, Wisconsin. Foosball, also known as table soccer, is a game originating from 1920’s Germany. It involves two to four players testing their skill, strategy, and willingness to have fun. Foosball is popular among primarily male students who seek an alternative to pool in a social bar setting. While there are numerous pool hall bars in Madison, there is a noticeable lack of foosball bars. The demand for foosball can be seen in the long lines of people waiting to play, making it rare to find an unused foosball table. Foosball Hall aims to meet this demand by offering beer, food, beverages, and plenty of foosball tables for casual play and tournaments.

Keys to Success

Foosball Hall has identified three critical factors for success. The first is implementing strict financial controls, particularly important for a business serving alcohol, to minimize the risk of employee theft. The second key is providing exceptional customer service, treating every customer as the most important. The last key is continually analyzing the business model for improvement, recognizing that it must be dynamic to increase profitability.

Target Market Customers

Foosball Hall targets two population segments. The first is casual players of table games who enjoy foosball or pool in a bar setting. They appreciate playing a fun game while socializing with friends or strangers. This segment is growing at an annual rate of 8% with 54,889 potential customers. The second segment is competitive players who play foosball to win, either with friends or in tournaments. They continually work on their skills to become better players. This segment has an annual growth rate of 7% with 12,445 potential customers.

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Management

Foosball Hall will be led by Stan Spinner, who has valuable experience in tavern operations from managing a pool hall during college. Stan pursued an MBA Entrepreneurship Program at the University of Wisconsin to further his skills in preparation for opening a foosball bar. Sales are projected to be approximately $200,000 in year two and increase to $290,000 in year three. Net profit is expected to be negative in year one and positive in years two and three.

1.1 Keys to Success

Foosball Hall has identified key elements for success in this competitive market:

  1. Employ strict financial controls to prevent employee theft.
  2. Treat every customer as the most important.
  3. Continually seek improvements in the business model and operating systems.

1.2 Mission

Foosball Hall aims to become a premier night spot for Madison students and locals interested in playing table games and enjoying drinks. By offering ample foosball tables, beer, and reasonably priced food, Foosball Hall will become a favorite in Madison. The business operates with the belief that satisfied customers are crucial for long-term success.

1.3 Objectives

  • Become one of Madison’s premier venues for table games, specifically foosball, along with beer and food.
  • Promote the growth of foosball in Madison, increasing the number and participation levels of tournaments.
  • Achieve sustainable profitability by year two.

Bar and Tavern Business Plan Example

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