SPORTS BAR BUSINESS PLAN The Take Five Sports Bar and Grill has built an infrastructure that serves a unique niche in the market. As a premier sports themed restaurant, they provide a leisure time atmosphere for customers to relax and have fun. State of the art televisions provide more sporting events than the typical sports bar. Audio controls at each table allow the visitor to view desired programming of their choice. An enticing menu selection together with a fun, relaxed atmosphere is sure to create repeat customers. Authentic sports memorabilia adds to the distinguished visual design. Promotional activities including celebrity events will enhance marketing efforts. In addition, retail sales will include sports memorabilia and company logo merchandise. Franchised store locations are the framework for expansion. The sports bar sample business plan will provide objectives, mission and key strategies to success.
Take Five Sports Bar and Grill has established a successful presence in the food and beverage service industry. The flagship location in suburban Anytown (Medlock Bridge) will gross in excess of $2 million in sales in its first year of operation. First year operations will produce a net profit of $445,000. This will be generated from an investment of $625,000 in initial capital. Since 10 months of operations have already been completed the confidence level for final first year numbers is extremely high. The first 10 months of start-up costs, sales revenues, and operating expenses are actual.
Expansion plans are already underway. Owner funding and internally generated cash flow will enable additional stores to open. Sales projections for the next four years are based upon current planned store openings. Site surveys have been completed and prime locations have been targeted for store expansion.
The sales figures and projections presented here are based upon an additional four store locations at the most premium sites available in the Anytown Metro market area as well as a prime resort location in Destin, Florida.
Management has recognized the rapid growth potential made possible by the quick success and fast return-on-investment from the first location. Payback of total invested capital on the first location will be realized in less than 18 months of operation. Cash flow becomes positive from operations immediately and profits are substantial in the first year.
Take Five has the objective of opening additional stores in Anytown Metro at Ashford-Dunwoody, Lawrenceville, Buckhead, and East Cobb. Additionally, a store will be opened on the beach at Destin, Florida, a year-round resort destination.
The management of Take Five has demonstrated its concept, execution, marketability, and controls, and feels confident of its ability to successfully replicate the quick ramp-up of the Medlock Bridge location to additional venues.
The following objectives have been established:
Have all five stores operational by Year 3 with a sequential time-line of openings.
Maintain tight control of costs and operations by hiring quality management at each location and utilizing automated computer control.
Keep food cost under 32% of revenue.
Keep beverage cost under 21% of revenue.
Select only locations that meet all the parameters of success.
Grow each location to the $3 to $5 million annual sales level.
Take Five Sports Bar and Grill strives to be the premier sports theme restaurant in the Southeast Region. 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.
1.3 Keys to Success
The keys to success in achieving our goals are:
Product quality. Not only great food but great service.
Managing finances to enable new locations to open at targeted intervals.
Controlling costs at all times without exception.
Instituting management controls to insure replicability of operations over multiple locations. This applies equally to product control and to financial control.
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