Opportunity
Problem
Watching sports is a group activity. Going to each other’s houses get tedious. It is difficult to find a place where people can watch, cheer, eat, or drink their favorite games and favorite beverages. After a great night, they are ready to go home.
Solution
Take Five Sports Bar and Grill strives for the title of Southeast Region’s premier sports restaurant. Our goal: To be a step above the rest. We want our customers having more fun with their leisure time. We provide more televisions showing more sporting events than any other region. Every table is equipped with state-of the-art table-top microphones that allow customers to hear the program they are interested in without any background noise. In order to achieve our ultimate goal of providing entertainment/dining experience that is both memorable and affordable, we mix menu selections, ambiance, atmosphere, and service.
Market
Bars and Taverns are local gathering places where customers can eat bar food and drink alcohol-based and non-alcoholic drinks. Bars and taverns have historically been places that were able to establish a relationship with specific suppliers or vendors in order to market or increase awareness of particular brands. Bars, taverns, and other casual spaces often have bar stools and tables. Entertainment can include music, comedy, and dancing.
To draw specific audiences or increase attendance, you may offer specials. Cocktail bars offer light snacks or h’, and generally serve light meals. It can be attached as a part of a restaurant or hotel. Individuals who like high-end wines will find wine bars. Martini bars caters to those who enjoy martinis. There are gay bars, bars for lesbians, bars for bikers and singles, as well as gay bars, bars for lesbians, bars that cater to alternates and singles. The adjective used to describe the person is the person who attends. Minors can be granted restricted access, depending on whether they are accompanied by an individual or a specific time. Most municipalities have policies regarding hours and zoning.
Concurrence
Technomic’s BarTAB (Trends in Adult Beverage), report revealed that the Top 100 Nightclub & Bar venue venues in 2013 earned $1.5 billion in total revenue. Over two-thirds, or 68.2%, of the operators surveyed saw revenue growth in 2012 and almost three-quarters (31.4%) of them reported revenue growth exceeding 10%. Again, top nightclub and bar venues outperformed overall industry. Bar and nightclub sales grew 3.9% in 2012. The industry will continue to face competition from other industries, such as restaurants and people who prefer to drink at home through 2023.
While the distilled spirits industry has been lucrative, Federal and state excise taxes play a significant role in the industry. According to the National Center for Policy Analysis (NCPA), thirteen states had requested an increase in tax and other fees on alcoholic beverages. The taxes on distilled spirits averaged $0.21 per ounce. According to the Distilled Spirits Council in the United States, “distilled spirit is one of most heavily taxed products in the United States.” More than half of the price that consumers spend on a typical bottle of distilled spirits goes toward a tax of some kind.” This has a wide-reaching impact on the hospitality industry. The DSC states that “When beverage alcohol taxes rise, it causes a devastating ripple effect on all jobs in the industry.”
The Distilled Spirits Council reported that total U.S. sales increased 2.2% to 210,000,000 cases in 2014. Supplier sales rose 4 percent to $23.1 billion in 2014. The U.S. market for distilled spirits is worth nearly $70 Billion. This is enough to support hundreds of thousands in the hospitality sector and produce more than $20 billion in tax revenue for all levels.
The U.S. Department of Commerce reported a 5.2 percent increase in adjusted alcohol sales to nearly $9.2Bn in June 2008, compared to the same time last year. The NCPA also reported that the Federal excise tax collected on distilled spirits for 2006 was $4.4 Billion. This includes $3.6 Billion from beer, and $800 M from wine. State taxes also reached almost $5 billion during the same period.
The total number of establishments at 58 829 in 2009 was 20.2 per cent. These establishments accounted for 11502 establishments and $4.
2009 revenues were 1 billion. Of the 71.7 percent of places classified as bars and lounges, 6.2 percent fell under the general classification with 3,523 firms and $858.9 million 2009 revenues; 31.2 percent were classified as taverns with 17,732 establishments$3.7 billion in 2009 revenues; 20.4 percent were classified as bars with 11,569 establishments and $3.11 billion in 2009 revenues; 11.6 were classified as cocktail lounges with 6,599 establishments and $1.61 billion in revenues. A smaller portion of this segment was made up of wine bars and beer gardens. Finally, night clubs, cabarets, and discotheques combined for an 8 percent market share, or 4,541 establishments, and combined 2009 revenues of $1.89 billion.
Why Us
Take Five Sports Bar and Grill aspires to be the best sports themed restaurant in the Southeast Region. Our goal is to be a step ahead of the competition. We want our customers having more fun with their leisure time. We provide more televisions with more sporting events than anywhere else in the region. The tabletop audio control system at every table allows the customer to enjoy the selected program in a clear and uncluttered environment. To achieve our ultimate goal of providing entertainment/dining experiences that are both enjoyable and affordable, we combine the best of atmosphere, ambience, food, and service.
Expectations
Forecast
A net profit of $445,000. will be realized in the first year. Since 10 months of operations have already been completed the confidence level for final first year numbers is extremely high. Actual figures are available for the first ten months of start-up expenses, sales revenues, operating expenses, and other costs.
Financial Highlights by Year
Finance is required
We will use $625000.