Singles Bar Business Plan
Colloquy Grog Shop is a unique local bar/coffee/tapas house that provides a friendly and effective place for singles to meet. It offers a structured conversation system that allows singles to meet each other and gain valuable insight through reflective conversation.
The structured system creates an atmosphere that lowers inhibitions and breeds confidence. Colloquy Grog Shop is the solution to the biggest hurdle for singles aged 25-45 – meeting people. Profitability is expected to be achieved by year two, with comfortable profits earned by the end of year three.
1.1 Objectives
– Create a local tavern/coffee shop that exceeds customer expectations.
– Increase the number of clients by 20% per year.
– Develop a sustainable startup business relying on its own cash flow.
1.2 Mission
Colloquy Grog Shop’s mission is to provide a neighborhood bar/coffee shop for singles to meet. We exist to attract and maintain customers. By adhering to this maxim, we ensure that our services exceed customer expectations.
1.3 Keys to Success
Constantly addressing our customers’ needs is the key to success.
Colloquy Grog Shop is a bar/coffee shop that brings singles together and creates a comfortable environment for them to meet. It uses a structured conversation system with assigned topics at each table to eliminate uncertainty and guide interactions.
The bar/coffee shop will be located in the hip industrial area of NW Portland, which is popular among the target demographic. The lease costs for the old warehouse space are reasonable, but there will be slightly higher tenant improvements required at startup.
Colloquy Grog Shop is solely owned by Karen Kibbutz, an Oregon corporation.
The startup costs for Colloquy Grog Shop include various equipment, furniture, and renovations. Long-term assets will be depreciated using the approved straight-line method.
Colloquy Grog Shop’s product offerings include eight microbrew beers, espresso and coffee drinks, and an assortment of tapas. These offerings are chosen based on their popularity and ability to facilitate conversation and community.
The service offerings at Colloquy Grog Shop revolve around a structured conversation system for singles to meet new people. The singles section consists of 4-top tables marked with conversation topics. The server introduces new topics as needed throughout the evening. This system helps reduce ambiguity and create meaningful connections between singles.
Regular bars are not ideal for meeting new people as they lack the environment and focus on conversation. Colloquy Grog Shop provides a setting that encourages thoughtful conversation and allows patrons to gain insight into each other. The structured conversation system is successful in reducing ambiguity and creating comfort for singles.
Colloquy Grog Shop’s market consists of singles and non-singles, both of whom are well-educated and middle to upper-middle class. It competes in the bar/coffee shop industry, with a specific focus on singles activities.
The customer demographics for Colloquy Grog Shop’s singles group include being single, professional, having an income over $40,000, and being between the ages of 25-45. These characteristics are aligned with the focus on thoughtful conversation and the desire for meaningful connections.
The table below shows the potential customers and their growth rates for the next five years.
| | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | CAGR |
|——— |———:|———:|———:|———:|———:|——–:|
| Singles | 335,412 | 365,599 | 398,503 | 434,368 | 473,461 | 9.00% |
| Non-singles | 301,215 | 322,300 | 344,861 | 369,001 | 394,831 | 7.00% |
| Other | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Total | 636,627 | 687,899 | 743,364 | 803,369 | 868,292 | 8.07% |
Target Market Segment Strategy
Colloquy Grog Shop will communicate its value to targeted segments through strategically placed advertisements in the Willamette Weekly, a magazine with similar demographics to the Grog Shop’s target market. Strategic relationships with companies like the Multnomah Athletic Club will also be used to reach customers. Additionally, grassroots methods such as offering coupons for referrals will be employed.
Colloquy Grog Shop competes in the general bar/coffee shop industry. Bars offer a social setting where people can consume alcohol and meet others. Coffee shops serve coffee drinks and provide a relaxed environment for reading, conversation, and socializing.
Competition and Buying Patterns
Competition for Colloquy Grog Shop comes from various sources, including bars and coffee shops. While bars may offer a place to meet others, they do not focus on bringing together singles. Coffee shops are casual social settings but lack organized activities for singles. Other events and activities aimed at bringing singles together exist, such as speed dating or outdoor events. Colloquy Grog Shop aims to be an alternative method for singles to meet like-minded individuals.
Strategy and Implementation Summary
Colloquy Grog Shop will implement a targeted advertising campaign and rely on word-of-mouth referrals to build a loyal customer base. The structured conversation system will be the competitive edge that sets the Grog Shop apart. By focusing on customer value beyond serving drinks, the Grog Shop aims to gain market share.
Sales Strategy
The competitive advantage of the structured conversation system will drive customers to Colloquy Grog Shop. Revenue will be generated from sales of drinks and food. Offering a rotating selection of premium micro beers and tapas will encourage repeat visits and larger per-person bills.
Sales are projected to steadily increase, with profitability expected by year two. The table below shows the sales forecast.
| | Year 1 | Year 2 | Year 3 |
|——— |———:|———:|———:|
| Drinks | $105,921 | $271,254 | $296,874 |
| Food | $69,908 | $179,028 | $195,937 |
| Total Sales | $175,829 | $450,282 | $492,811 |
Milestones
Several milestones are planned for Colloquy Grog Shop, including completing the business plan, setting up the physical location and vendor relationships, achieving profitability, and facilitating the first marriage resulting from a Grog Shop introduction.
Management Summary
Karen Kibbutz, the founder of Colloquy Grog Shop, has a background in political science and extensive experience in the restaurant industry. After noticing the difficulty for singles to meet others, Karen decided to leverage her business experience and create a place for singles to connect.
Personnel Plan
Colloquy Grog Shop will have eight employees, including a manager, chef, line cook, servers, a bartender, and a dishwasher. The team will be flexible to meet demand.
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