Business Plan Essay

4694 words - 19 pages

Business Plan for Amanda J. Hopkins
Burlesque Lounge

In this paper you will see my financial layout for beginning a Burlesque Lounge. I have included detailed layouts of the venue as well as given you an understanding of the financials for such a business.

2012
Amanda J. Hopkins
Mandy’s Vixens & Speak-Easy Lounge
4/2/2012
Business Plan for Amanda J. Hopkins
Burlesque Lounge

Table of Contents

1. Executive Summary 2
1.1. Objectives 2-3
1.2. Mission 3
2. Service 3-4
3. Market Analysis Summary 4
3.1. Market Survey 4-5
3.2. Customer Forecast 5
4. Strategy and Implementation Summary 5
4.1. Competitive Edge 6
4.1.1. Main Competitors 6
4.2. ...view middle of the document...

 
Positioned as a high-value entertainment experience with interesting drinks, the lounge caters to couples, singles, and business clientele. The lounge has several key advantages: few competing lounges or bars that offer the same amenities are located in the same geographic area; the residential population is growing and has a high median household income; and a large business population is located within a 3-mile radius. Based on statistics from the National Restaurant Association, the lounge is expected to see an annual increase in sales of 5% annually.
The owner recognizes the necessity for capital planning and has included detailed financial forecasts in the business plan, including projections for the venture's 12-month cash flow requirements. With an initial startup capital cost of $200,000.
Objectives
The owner's objective is to secure start-up financing for establishing a long-term lounge.
To succeed over the long-term and generate revenue appropriate for turning a net profit and servicing a conventional loan obligation, the owner has established the following goals (detailed in this business plan):
* Maintain a Gross Margin of 65%
* Maintain a Net Profit from Sales of 5% annually
* Maintain a Cost of Goods of less than 15% for food and 36% for beverages
* Maintain a Cost of Labor of less than 25% of revenue
* Maintain a Sales & Marketing budget of 1.9%
To achieve success, the owner has identified the following key elements:
* The owner will implement strict financial oversight. Management accounting is provided by an outside firm specializing in restaurant & bar accounting services. All financial services, including bookkeeping and payroll, are outsourced. This strategy provides better cost control due to increased reporting; reduced operating expenses due to fewer payroll obligations; and increased net revenue from improved accounts payable efficiencies.
* The owners have identified the location as lacking in comparable venues. Currently, customers must travel 90 miles or more to find a similar entertainment. Tapping into this opportunity is one of the keys to the lounge's success.
* The lounge is distinguished from the competition by its distinctive, unique atmosphere. The lounge's brand is one-of-a-kind, without the suggestion of a chain or franchise. The lounge's menu offers high quality drinks served in interesting presentations and a small collection of choice cigars. The lounge's staff provides outstanding service and entertainment in a relaxed atmosphere.
* The lounge includes a full service bar, which is expected to drive 83% of total revenue. The lounge as a whole caters to business people meeting after work and to singles and couples during the weekend.

* The lounge will also offer classes to interested individuals on the art of burlesque dancing. As well as offer an amateur night to interested individuals for a small fee who wish to perform.

1 Mission...

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