Sports Bar Business Plan Paper

Sports Bar Business Plan Paper

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Entity Business Plan Paper

The purpose of the following paper is to be able to inform the reader(s) of the paper about the business goals of the ownership and operations of a Sports Bar Franchise. The topics of discussion will include the description of the goal of the business and subtopics of the types of goods and services that are provided by any Sports Bar Franchise, what types of customers will this business attract, and lastly, how and where the specified services are made available. The paper will also include dialogue about the strengths and weaknesses of an assorted of business organizations and which one would be most appropriate for the author’s business venture.

The next section will illustrate the way in which separate commerce businesses function in the international legal atmosphere and to recognize any of the domestic and worldwide matters, which affect the assorted industry configuration and how those concerns can be successfully handled. Lastly, the paper will contain information about Sport Bar Franchise documents that are needed to initiate the business in the state of Maryland.

The purpose of a Sports Bar Franchise is to have the ability to supply its customers with quality food, beverages, and service, while also allowing the customers of the Sports Bar to be able to watch his or her favorite sports game while during the dining occasion and enjoying the food and his or her spare time at the establishment.

A web article that is titled Business Plan for a Sports Bar (n.d.) states, “Mission- Our goal is to be a step ahead of the competition. We want our customers to have more fun during their leisure time. We provide more televisions with more sporting events than anywhere else in the region. We provide state-of-the-art table-top audio control at each table so the customer can listen to the selected program of his or her choice without interference from background noise. We combine menu selection, atmosphere, ambiance, and service to create a sense of “place” in order to reach our goal of over-all value in a dining/entertainment experience” (para 9).

The targeted customer for sports bar franchises are individuals who dine out, but also take pleasure in viewing a variety of spectator sports at the same time. There are many different sports that are able to be observed when an individual is dining at one of these types of businesses.

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Take for instance, a customer is able to enjoy watching a baseball game while also eating his or her favorite foods and if it is not baseball that he or she craves while eating then there is always football, hockey, soccer, boxing, and maybe even a little bit of tennis to watch to satisfy his or her sports needs.

Services of a sports bar franchise are provided by the establishment’s investigation of the population of the surrounding area that the franchise is attempting to begin business. For example, an individual(s) who have the desire to open his or her own sports bar franchise may want to take into consideration the salary level of the area and how many housing communities reside nearby, this will allow for the owners of the business to have the ability to have the knowledge whether or not the sports bar will have any success or not. If a prospective owner of a sports bar franchise does not do his or her research beforehand, then he or she may stand the chance of the business not being able to complete a full year of business before having to shut down.

Business Plan for a Sports Bar (n.d.) explains, “Keys to success- The keys to success in achieving our goals are:

o Product quality. Not only great food but great service.

o Managing finances to enable new location to open at targeted intervals.

o Controlling costs at all times without exception.

o Instituting management controls to insure replicability of operations over multiple locations. This applies equally to product control and to financial control.” (para 10).

There are strengths and weaknesses of an individual who is attempting to initialize a sports bar franchise. Of course, with any business an individual must have the necessary funds available to him or her in or to be able to open a sports bar franchise. Therefore, if an individual is not able to obtain the necessary funding then he or she has encountered the first weakness of the beginning of a personal business. All companies must be able to receive funding or even a loan from a bank in order to be able to purchase the building that the sports bar is going to be located. If an individual has issues with his or her credit, then there is not going to be some problems with receiving the money essential for the business to be able to a popular place for dining and entertainment of sports. Another weakness may be the ability for the owner(s) to be able to obtain a liquor license. Since just about every sports bar that is in today’s market serve some form of alcoholic beverage and are required by law to have a liquor license in order to have the ability to server these types of drinks.

Strengths of a sports bar franchise is that once the money is obtained by the individual(s) from a bank or some other type of financial institution for the purchase of an establishment would be to get the highest quality advertisement through agencies who supply public notice via the internet, newspapers, billboards, and even television to the targeted customers. By having reputable agencies displaying advertisements for the franchise, the owner(s) of the franchise are then able to obtain faithful customers. As a result, with having one establishment opening, then the owners are able to make an adequate amount of money in order to be able to broaden his or her franchise to other locations within an outside of the immediate area.

Business Plan for a Sports Bar (n.d.) indicates, “Expansion plans are already underway. Owner funding and internally generated cash flow will enable additional stores to open. The owner(s) of the sports bar will earn enough profits to be able to increase his or her business, which will only bring them in an enormous amount of profits to have other locations of the business set-up.

After researching the secretary of state’s website for the state of Maryland, there were several forms that may be able to be used in order for an individual to gain the ability to begin a sports bar franchise. These forms include, but would not be limited to a building permit, electrical inspection, food, gaming, and public exhibitions. This is just to list a few that the writer of the paper was able to discover through research on the Secretary of States.

In conclusion, there are many goals that are set in place for any organization to even begin to commence his or her business. The potential owner must focus on the type of business he or she would have the desire to open, what type of customers the owners are in search of to draw to the new business.

Reference

Business plan for a sports bar (n.d.). Retrieved February 6, 2009, from

http://www.ask.com/bar?q=Sports+Bar+Business+Plans&page=1&qsrc=6&zoom=Starting+My+Own+%3CKW%3EBar%3C%2FKW%3E+Nightclub%7CFree+Samples+of+%3CKW%3EBusiness+Plan%3C%2FKW%3E+for+a+%3CKW%3ESports+Bar%3C%2FKW%3E%7CChamps+%3CKW%3ESports+Bar%3C%2FKW%3E&ab=2&u=http%3A%2F%2Fwww.morebusiness.com%2Fsports-bar-business-plan

O’Malley, M. and Brown, A. (n.d.)Business License information system. Retrieved on February

8, 2009, from http://www.blis.state.md.us/CountyLicense.aspx?CountyID=4
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