Creating a Business Plan that works is an important part of effective Business planning. A good Business Plan will accelerate your business growth and your ability to attract customers and increase profits.
Indigo Lounge will be a full service bar/nightclub located on Albert Road, Portsmouth. The bar will feature a wide variety of drinks on its menu at a moderate price. As well as that, Indigo Lounge will offer wide variety of featured nights to satisfy all ages and groups of different people with different tastes. It will be a Partnership between both Jack Cannell and Aaron Liddell, 50% for Jack Cannell and 50% for Aaron Liddell.
The unique feature(USP) that Indigo Lounge will be offering is that every weekend it has an over 25’s policy where we will be accepting customers that are 25 years old or over. We have decided to do this because we believe that people of 25 and over are put off by the thought of having to share their company with younger people on a night out.
This business plan offers financial institutions an opportunity to review our vision and strategic focus. It also provides a step-by-step plan for the business start-up, establishing favourable sales numbers, gross margin, and profitability. This indicates that our business will be set-up professionally and that there will be contingencies in place if any problems occur.
This plan includes chapters on the company, products and services, market focus, action plans and forecasts, management team, and financial plan.
Sales approaching and surpassing… To be able to attract good clientele of all ages above 18 on the appropriate nights. To satisfy customers of all ages. To still be in business after 2 years and making a substantial profit. If successful, we would like to expand to neighbouring cities within 4 years.
The Indigo Lounge concept is built on the fact that we have done research and questioned many people that we would like to believe we could attract to the bar and call ‘our customers’. There also isn’t a venue in Portsmouth or the surrounding area quite like it. We will be providing a wide range of affordable drinks from soft drinks to draft beer and even high quality cocktails made by trained cocktail waiters. As well at that the music we provide is of a wide range making sure we satisfy most people’s needs, playing many different genres from the 1960’s through to up to date music.
We will attempt to entertainment to the thousands of residents and visitors located within a five-mile radius. In time, The Indigo Lounge will establish itself as a destination of choice to the many residents.
The Bars aim is simple. It will provide a completely sophisticated, sensual, yet casual and fun night out for those coming in. We will make sure it is an affordable night for customers to come in and get their money’s worth, so they will want to return again and again.
Finally Indigo Lounge will be creating at least 25 new jobs which is important for the local economy as we believe it will only attract more people down to Albert Road and thus help other local businesses not hinder them.
Keys to success Product quality: Drink, bar snacks and entertainment are our products. They must be of the highest quality and value to boost our reputation. Service: Our customers are paying to have a good time and expect a good service. Their experience will suffer if the service is not up to a good standard. So each member of staff will be courteous, efficient, and attentive. Marketing: We will need to target our audience early and often. While the business is located in a central and accessible location, we need to make sure it is memorable and recognisable. Management: We will need to have a firm grasp on beverage and labour costs. The experience that customers have must be delivered in a fashion that will not only bring those