Professor Joel O Nwagbaraocha
Submitted by: Ginelle Scarboro
June 7, 2012
The Singles Lounge. Building Relationships. Together.
1. Executive Summary The Singles Lounge is a unique local Lounge/tapas/specialty microbrew beer lounge that provides a friendly, effective place singles can meet. The Singles Lounge is not your typical bar where people go to meet other singles, it has a unique service called the structured conversation system that is quite effective for allowing singles to meet each other and provide them with valuable insight into the other person through reflective conversation. The structured system provides an atmosphere that lowers inhibitions and breeds confidence, allowing singles to meet other singles and gain insight into their personality by way of thoughtful discourse. Meeting people is one of the biggest hurdles for 25-45 year old singles. The Singles Lounge provides this group with an effective solution to this problem. The Singles Lounge will reach profitability by year two and will have earned comfortable profits by the end of year three. The Singles Lounge will be set up in the hip, upcoming industrial area of NW Washington, DC. This area is a rapidly emerging night stop for the targeted demographic. Because the rented space will be an old warehouse the lease costs are quite reasonable. The tradeoff for the very reasonable lease is slightly higher tenant improvements required at start up The Singles Lounge is also a microbrew specialty beer lounge located near the campus of Georgetown University. The Singles Lounge will be serving the many different universities and the Washington, DC metro area community with a constantly rotating lineup of premium, unique microbrews for the discerning beer connoisseur.
2. Company Mission Statement/Introduction The Singles Lounge mission is to provide a neighborhood bar/coffee shop where single people can meet. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed the expectations of our customers.
The keys to success will be to constantly address our customer's needs.
3. Company Branding, Pricing and Distribution Plan The Singles Lounge. Building Relationships. Together. The Singles Lounge is distinguished by the fact that our business concentrates on developing value for customers beyond serving drinks. The Singles Lounge develops an effective, although inherently structured or artificial, social setting that encourages meeting like-minded individuals. We provide a very relaxed atmosphere where individuals can get to know each other. The atmosphere is created with natural colors. Our three main colors are lounge red, gold and chocolate browns. My logo represents the crowd I want to attract professionals between the ages of 25 – 45. Providing the drinks and light finger food is the source of income, an ancillary part of the business. Our servers have uniforms which consist of gold shirts with chocolate brown slacks with our signature on the left over the pocket where they hold conversation topics. Generating value for the customers is the main focus; if the customers are happy then the revenue will follow, assuming of course that proper marketing and financial controls are employed. Concentrating on the client's needs beyond serving alcohol is the distinguishing characteristic that will allow The Singles Lounge to rapidly gain market share. The tagline says it all when you step foot in our doors we want you to feel comfortable and we want to help build you build or find a relationship and together we can do that. The Singles lounge brand pillars are Champion for all. The Singles Lounge represents singles of all sizes and types, which allows us to speak with a strong, compelling voice about match making. Unmatched scope…